rich6400 Posted November 19, 2008 Report Share Posted November 19, 2008 France again! Like in the 1960s under de Gaulle! Dans le thème français actuel, Vive la France! Et oui, je parle français . Link to comment Share on other sites More sharing options...
wren Posted November 19, 2008 Report Share Posted November 19, 2008 Gold and silver prices very spikey today. What a crazy market! And isn't it "le français" when speaking of the language? Link to comment Share on other sites More sharing options...
rich6400 Posted November 19, 2008 Report Share Posted November 19, 2008 Gold and silver prices very spikey today. What a crazy market! And isn't it "le français" when speaking of the language? c'est possible.. Link to comment Share on other sites More sharing options...
enrieb Posted November 19, 2008 Report Share Posted November 19, 2008 Gold/Dow ratio just under 11 to 1. Peter Schiffs target was 10 to 1 for year end. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 19, 2008 Author Report Share Posted November 19, 2008 The spike today (in gold) was also present in the EUR and GBP i.e. it was more a USD-related thing. However, gold went up more in proportion as far as I can see. So, what was it? Was it China dumping some USD cash to buy gold?? Link to comment Share on other sites More sharing options...
pmaupoil Posted November 19, 2008 Report Share Posted November 19, 2008 France again! Like in the 1960s under de Gaulle! Gold in France has had a great deal of publicity since september contrary to GB. They even mentioned a significant rise in safe sales! They are already in semi-panic mode there. Link to comment Share on other sites More sharing options...
tinecu Posted November 19, 2008 Report Share Posted November 19, 2008 http://www.telegraph.co.uk/finance/persona...-time-high.html Demand for gold at an all-time high Demand for gold reached a record high in the third quarter as investors sought refuge from the financial crisis and volatile stock markets, according to the World Gold Council. Link to comment Share on other sites More sharing options...
Catflap Posted November 20, 2008 Report Share Posted November 20, 2008 France again! Like in the 1960s under de Gaulle! And we all know what the naughty French did in 1971 under de Gaulle.... yes they sent one of their battleships to New York to redeem their US treasury debt for gold - a few days later Nixon announced that the United States would no longer redeem dollars for gold. France under Charles de Gaulle realized that this trend was unsustainable. The US was printing more dollars than its gold holding could support and dumping the dollars in world markets. http://www.atimes.com/atimes/China_Business/JJ02Cb03.html Link to comment Share on other sites More sharing options...
electroweak Posted November 20, 2008 Report Share Posted November 20, 2008 Even better, watch it now as we near EUR 595.98 / Oz... come on, ECB... show us what you're made of!! Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 20, 2008 Author Report Share Posted November 20, 2008 Even better, watch it now as we near EUR 595.98 / Oz... come on, ECB... show us what you're made of!! Link to comment Share on other sites More sharing options...
fexx Posted November 20, 2008 Report Share Posted November 20, 2008 I just saw the chart of GBP/USD and i it broke 1.5200 , this was major support , this means GBP is going to 1.1000 on a long term (next 6 months could be?) , and on a short term it could stop at 1.3500 in 2-3 weeks. Then it should make a pull back to 1.4900 and then a final move to 1.1000 (but maybe it could not reach 1.49 and exhaust earlier). So, on a long term, in GBPs you will have price close to 1,000, the entry point right now is ok. Well, you sure put your money where your mouth is! Will be watching with interest Link to comment Share on other sites More sharing options...
romans holiday Posted November 20, 2008 Report Share Posted November 20, 2008 Does someone know why Saudi Arabia and Iran buying lots of gold hasn't sent the POG through the roof? Are these effectively private sales? Big money is pouring into gold. Why hasn't the price jumped? http://howestreet.com/audiovideo/index.php...ediaplayer/1030 Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 20, 2008 Report Share Posted November 20, 2008 Big money is pouring into gold. Why hasn't the price jumped? http://howestreet.com/audiovideo/index.php...ediaplayer/1030 just like the GDP stats & indeed all the stats, they surpress them for sooooooooooooo long that when they finally have to let the real figures out, we get those huge & unexpected jumps. Just look at the Uk GDP actaul & forcast stats for the last 6 months.......I told Mrs GOM that GDP would drop like a stone shortly, then voila, we get the revised forcast figures. Remember the +0.1, +0.1 etc, when eurozone was showing minus figures, & that's exactly why the Uk ALWAYS gets hit the hardest, because we lie & fudge & fiddle the stats the most. They did exactly the same wrt to hpi in 2006/2007, that's why the TA's keep getting a lot of there guestimations wrong. TA only works when the system is working properly, but the system is broken at the moment. the UK socially & UK plc is totally fooked for about 20 years, apart from the things we are always top in, when compared to mailand eurozone: fighting drinking teenage pregnancies stupidity we will always reign supreme at these. Link to comment Share on other sites More sharing options...
kernull Posted November 20, 2008 Report Share Posted November 20, 2008 gold is currently playing safe heaven game, the target of 640 is still in place, they likely to dump it when the stocks market bottom, along with bonds. target for dow is 7200 , so next week probably Link to comment Share on other sites More sharing options...
narco Posted November 20, 2008 Report Share Posted November 20, 2008 That Euro gold chart really doesn't match up correctly with bog standard Elliot wave theory. Link to comment Share on other sites More sharing options...
narco Posted November 20, 2008 Report Share Posted November 20, 2008 GBP/EUR monthly = Ugly Link to comment Share on other sites More sharing options...
romans holiday Posted November 20, 2008 Report Share Posted November 20, 2008 gold is currently playing safe heaven game, the target of 640 is still in place, they likely to dump it when the stocks market bottom, along with bonds. target for dow is 7200 , so next week probably Yeah.... every dog has its day! Namely, the dollar. Link to comment Share on other sites More sharing options...
Justin Thyme Posted November 20, 2008 Report Share Posted November 20, 2008 Well at the rate that Citigroup stock is plunging and the TLT Ishares 20yr price is rising, there might be "life" in the dollar yet. There could be more forced-selling on the way . . . Link to comment Share on other sites More sharing options...
electroweak Posted November 20, 2008 Report Share Posted November 20, 2008 ECB working Hard on POG today... Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 20, 2008 Author Report Share Posted November 20, 2008 ECB working Hard on POG today... Only the PPT works harder today (on the Dow, of course). Link to comment Share on other sites More sharing options...
littledavesab Posted November 20, 2008 Report Share Posted November 20, 2008 what I have read so far, is that GBP is going to plunge, so, rather than base purchases on the gold chart, people who live in UK should analyze GBP/USD . I am in Mexico and I got out of my pesos long time ago. I just saw the chart of GBP/USD and i it broke 1.5200 , this was major support , this means GBP is going to 1.1000 on a long term (next 6 months could be?) , and on a short term it could stop at 1.3500 in 2-3 weeks. Then it should make a pull back to 1.4900 and then a final move to 1.1000 (but maybe it could not reach 1.49 and exhaust earlier). So, on a long term, in GBPs you will have price close to 1,000, the entry point right now is ok. Im going to add my thanks also Ker if you do find the time to slip some GBP vs USD/Gold feedback in now and again it is very much appreciated Link to comment Share on other sites More sharing options...
littledavesab Posted November 20, 2008 Report Share Posted November 20, 2008 i think you are right, i shouldn't be telling everybody when to buy or sell, i take my words back, if someone wants to buy, buy it, or sell it. i could be wrong also, i am not the whole market. Ker I understand the sentiment behind your disclaimer and making predictions is a responsibility etc BUT a contary view if intelligently expressed is important. Say it as you see it. If you think someone is going astray tell them. So keep going ! Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted November 20, 2008 Report Share Posted November 20, 2008 Only the PPT works harder today (on the Dow, of course). it cant last much longer reflation challenge and gold GOLD WINS WITH EITHER OUTCOME Scenario A: The USEconomy suffers a strong recession. Many distribution lines are interrupted. Job losses continue into the millions. Many retail chains close down. These are already in progress. So imagine for the scenario that they all worsen. Commodity and material prices stabilize, and maybe rise. A big myth is out there, that claims commodity prices are down since the basic demand is down from a recession. That is only partly true. Prices are down predominantly since the USDollar has artificially enjoyed a prop from the financial markets, on liquidity of speculation and redemption of credit derivatives. As those processes slow, the USDollar will seek its proper value. That is much less, like 30% lower to start. Prices will then rise for things like food and gasoline and utility bills. Under this scenario, where the USEconomy suffers mightily, even becomes something of a wasteland, the USDollar might be replaced. Under this destruction scenario, with or without that replacement (forced in shame), gold will be a refuge of stored value, as industry falters and debt collapses further. Scenario B: The vast Reflation Initiative succeeds. Somewhere the maestros and wizards succeed in engineering a revival of price inflation, as is their newfound goal. The destruction of the USEconomy is averted, except that hidden is the detrimental effect of price inflation. Wages might rise a little, but not enough. Asset prices like in the stock market improve, but not enough to keep pace with inflation. Corporations avert bankruptcy, but their profit margins are still damaged. The ultimate hedge against the systemic price inflation will be gold. This trend will continue, even as credit derivative accidents occur from higher rates, discussed in the upcoming Hat Trick Letter report. Massive price inflation will be the plan, the goal, the intention. INFLATE OR DIE will become the mantra on a global scale. The rise in the gold price, the longstanding time-honored inflation hedge, will be tolerated, as a system ill. My forecast is that the USDollar will be replaced anyway, especially given the current meetings by major USTBond creditors. The G20 Meeting last weekend was an orchestrated sideshow. It opened Pandora’s Box however, as Germans in attendance have made firm formal rational demands. The movement is afoot to force profound change. A difficult, if not impossible, task comes for foreign bankers. They must separate themselves from the USDollar and USTreasury, its tradable vehicle. If they do not, then their economic and financial systems will be dragged down with the United States. The USFed executed on a gambit in recent weeks. They distributed hundreds of billion$ to foreign central banks. The hidden objective is to force foreigners to engage the great Reflation Initiative when the trigger is pulled, when the corner is turned, when the signal is given. Foreigners so far have taken that bait, but they might have an exit plan, if they are working closely with those who seem in charge: the Germans, Russians, Chinese, and Arabs. Link to comment Share on other sites More sharing options...
kernull Posted November 20, 2008 Report Share Posted November 20, 2008 all points to 550 target Link to comment Share on other sites More sharing options...
kernull Posted November 20, 2008 Report Share Posted November 20, 2008 Im going to add my thanks also Ker if you do find the time to slip some GBP vs USD/Gold feedback in now and again it is very much appreciated ok, maybe on the weekend. Link to comment Share on other sites More sharing options...
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