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If we get it, we are set up for the most beautiful W and could quickly move back to 1000

 

fsspon1sx8.png

 

But that would be too good to be true.

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Hello Frizers - nice to see your mw email this morning. I had a smile on my face when you also said 740!!!

 

I think everyone here will have their fingers on the triggers!!!

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what does everyone think are the chances of a double bottom at 740?

 

Yea i thought that linky

 

But i'm sticking with this chart and possible retracement levels....And that is a nasty head and shoulders pattern forming.

gold221008.jpg

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Apologies if this is a stupid question, but what accounts for the difference between the price of gold as sold by a mine (as published in the income statement) and spot price?

 

Is there an obligatory intermediary step to make it investment grade, perhaps processing at the local mint?

 

 

 

 

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Looks like we will not be going to sleep tonight...

 

Need to stay awake especially at 10,11 and 12 tonight!

 

If 740 does not hold - I will need a change of pants (at least until retest at 715)....

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OK - she did not hold 740...now at 735.35.

 

Looks like a lot of people used borrowed funds to buy gold...

 

This is painful to watch but she will continue down...

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Looks like we will not be going to sleep tonight...

 

Need to stay awake especially at 10,11 and 12 tonight!

 

If 740 does not hold - I will need a change of pants (at least until retest at 715)....

Looks like $740 has been broken - gulp!

To quote the clash: Should i stay or should i go?

 

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Looks like we will not be going to sleep tonight...

 

Need to stay awake especially at 10,11 and 12 tonight!

 

If 740 does not hold - I will need a change of pants (at least until retest at 715)....

 

 

Looks like you need some new pants. Good old British pound is all I can say. Id be stuffed if it wasnt for the weakness of the pound.

 

This is all about dollar strength right? And recession fears for commodities.

 

So when the dollar falls gold will strengthen. Do we think that commodities will rebound on inflation even in a global recession?

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I am staying out for the moment....I have my physical, and I am only watching this as I have some money to gamble with in gold money account...

 

We are in a wealth destruction phase, and those that can hold on will be fine...

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Looks like we will not be going to sleep tonight...

 

Need to stay awake especially at 10,11 and 12 tonight!

 

If 740 does not hold - I will need a change of pants (at least until retest at 715)....

 

If it hold around this level 732-736 it could be a good trade until circa $830....then you can get more new pants

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Thank god Merv and Brown trashed the pound today, its given us another chance to get out...

 

Get out where?

 

Keep fingers crossed for $500 or lower.

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So this deleveraging thingy, how come its only good for the dollar? Did no one leverage in GBP, EUR or JPY?

 

When you own the USD fiat money pump (aka Head Office), you get special treatment from the branch offices...

 

1 - Borrowed money in JPY, 2 - Bought stuff priced in USD (aka reserve currency), 3 - Repeat 1 & 2 while feeling lucky, 4 - luck runs out, now selling everything in USD...USD getting stronger...everything else getting weaker...everybody will be poorer...

 

Ohh - fogot to say not EVERYBODY will be poorer - those with connections to families that have their hand on the fiat money pump will be ok...

 

so 99% of us without silver spoons in our mouths are f**ed...

 

sorry - don't know what else to say...

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So this deleveraging thingy, how come its only good for the dollar? Did no one leverage in GBP, EUR or JPY?

 

I think you'll find JPY is even stronger than the dollar.

 

Japan and the US have had very low interest rates for the past several years so people borrow from there and invest it in another country with higher, but still safe yields.

 

When JPY and USD get stronger, however, you lose money.

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I hope Ologhai hasn't topped himself :unsure:

 

Seriously though, by Crimbo, we'll be laughin' !

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