stunlee

Technically gold looked overbought, it failed to breakthrough after making a new high and is now looking at a classic bearish divergence pattern. All these things were suggesting a market top. Then of course there are hidden forces that make the price drop 60 dollars in two minutes. I love free markets.

Well I certainly agree with you that we are due a proper correction but I don't think it will reach the 200 DMA, over the past three years the 150EMA has been the far better indicator. Indeed over the past six months it has barely managed to go below the 50 day EMA. I could be wrong certainly but I would be buying at the 50 EMA.

Oh dear, it looks like someone is going to get disappeared at HPC soon.

 

Anyway, Gold just made a break through 1840 dollars, the high of the past few days. Surely it is too early for another go at 1900?

I always like the line about London being a safe haven. I mean it is not as if there have been any problems in London recently and the British Government is in an excellent fiscal position and in no way will be lookking to raise taxes in the future.

Great charts, average house price of 2 kilos of gold would be the target for me. I do feel so sorry for the HPCers, they have been screwed every which way for many many years now. Unfortunately they have rather brought it on themselves, ignoring the advice of the goldbugs and banning anyone who dares to disagree with their mantra. In retrospect, it was obvious that the government would inflate.

However, if most of your assets are in highly liquid high quality assets (i.e. precious metals), it might turn out as a brilliant investment to buy a house on a fixed(!!) interest mortgage in the early stages of the truly hyper part of the inflation catastrophe that we are in.

 

I fully agree with your analysis. My only question would be that, given that the politicians in Britain have firmly shown that they work for the banks and against the people and given that a hyperinflation would see the banks lose a lot of their power over debt-holders, what would be the possibility of the Government allowing retrospective changes in mortgage interest rates, i.e. allowing banks to annul the fixed interest rate and move the home-loaner to a much higher rate?

A rather ugly 4 hour candle looks to be forming here which looks to be breaking through the trendline started on the 10th August, I wonder if we could be heading back towards 35 dollars again.

Very sharp falls going on at the moment, nearly a dollar gone off the price in the last three minutes or so, I wonder if the powers that be are attempting a manipulation again, 42.05 dollars seems to be the level that they are defending at all costs, the 161.8 of the range between May and July of this year. Well I have been buying at 39 for the past few weeks and shall try again here, targeting 41. For what it is worth, I don't think it is ever going below 32 dollars again, it is a year since it last touched the 200 day moving average and that is now at over 33. Noticable that the price only fell by a few percent during the mini crash last Thursday as well.

An interesting video and the silver market does look to be manipulated with a large number of sudden downmoves occuring overnight but that must surely be just a weird glitch in the trading platform, I can certainly find no such volume surge on mine on the day in question. Such a colossal order would surely have triggered a massive price move downwards and a tsunami of margin calls rather than the fairly tame dollar or so fall that actually happened.

I am certainly glad that the HK market is opening up.