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Looks like she is still going down...

I am looking at support levels at 700, 685 and 680...

 

If any consolation, by getting to 680 level then that would be the greatest number of down days (height of o's) on my pnf chart. Hopefully, after a few sideway days she will be like an elastic band it will shoot back up again!

 

Good luck all.

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Looks like she is still going down...

I am looking at support levels at 700, 685 and 680...

 

If any consolation, by getting to 680 level then that would be the greatest number of down days (height of o's) on my pnf chart. Hopefully, after a few sideway days she will be like an elastic band it will shoot back up again!

 

Good luck all.

 

Wow... already down to 700... thought it would take a bit longer. These are not normal conditions. :lol:

 

I am just glad not to be one of these highly leveraged players having the blow torch applied to them now. Hope no one is on margin here.

 

Wish I had more dry powder. I can only afford silver at the mo. :)

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forgive me if I am wrong but.....

 

is this huge drop in the pog due to people/companies dumping/swapping paper gold for physical gold ? (I appreciate that there are other factors here, like the oil price dropping & gold hasn't decoupled yet as some thought)

hence the lack of availability of physical (I think there is a lack of physical right?)

 

because this drop is so sudden & sharp, coupled with the fact that it's harder to get hold of physical, this doesn't make sense to me.

 

although I have very little experience in the real markets, I have followed closely what is happening in the markets. Something doesn't smell right to

me. <_<

 

 

any of you seasoned gold experts care to comment ?

 

or am I talking out of my ar$e? :P

 

edited to add - has anyone got the trade stats for paper gold over the last few days compared with normal (or what you would expect to see) stats?

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Can somebody help me?

 

I read a few days ago that a new GOLD ETF is starting that allows the investor to take delivery should they want to. However, I cannot find the article now! Does anyone know about this? Can somebody provide a link and more info?

 

Thanks

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forgive me if I am wrong but.....

 

is this huge drop in the pog due to people/companies dumping/swapping paper gold for physical gold ? (I appreciate that there are other factors here, like the oil price dropping & gold hasn't decoupled yet as some thought)

hence the lack of availability of physical (I think there is a lack of physical right?)

 

I do appreciate that these combined are the pog btw, so selling one & buying the other should keep the price constant (yes?), but I do wonder if something fishy is going on here.

I would be still buying more if I had the cash spare.

 

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although I have very little experience in the real markets, I have followed closely what is happening in the markets. Something doesn't smell right to

me. <_<

 

Jewelry demand, which is typically 5x investment demand, has collapsed due to high prices in local currencies and general downturn. Also, funds have been liquidating as punters withdraw their cash.

 

On the plus side, investment demand for bullion is well up, but not by nearly enough to replace the negative factors at the moment.

 

 

 

 

 

 

 

 

 

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Jewelry demand, which is typically 5x investment demand, has collapsed due to high prices in local currencies and general downturn. Also, funds have been liquidating as punters withdraw their cash.

 

On the plus side, investment demand for bullion is well up, but not by nearly enough to replace the negative factors at the moment.

hey WM,

 

funny you should say that, I got a call 2 days ago from my local jewellers telling me that some nice earings had come in that matched a necklace I bought for Mrs GOM about 6 months ago.

 

but why such a huge drop in 2 days. So that means that everyone was buying ok until Monday then & decided to all stop buying together. :rolleyes:

 

when have the big companies released their earnings figures ? I know some big ones were due out today & tomorrow, but I can't remember which sector.....hence the big selloff yesterday/today....

 

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hey WM,

 

funny you should say that, I got a call 2 days ago from my local jewellers telling me that some nice earings had come in that matched a necklace I bought for Mrs GOM about 6 months ago.

 

but why such a huge drop in 2 days. So that means that everyone was buying ok until Monday then & decided to all stop buying together. :rolleyes:

 

when have the big companies released their earnings figures ? I know some big ones were due out today & tomorrow, but I can't remember which sector.....hence the big selloff yesterday/today....

 

Remember the banks are all solvent now :blink: The problems are all over and everything will be fine once this little recession is out of the way

 

 

...not.

 

 

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Can somebody help me?

 

I read a few days ago that a new GOLD ETF is starting that allows the investor to take delivery should they want to. However, I cannot find the article now! Does anyone know about this? Can somebody provide a link and more info?

 

Thanks

 

 

Julius Baer if i have the spelling right / secondary but strong Swiss operator

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"Pleasant it is, when winds on the great sea

Are blustering its waves, to look from land

Upon another laboring in distress:

Not that you delight in any man's

Ill fortune, that because you are pleased beholding

From what miseries you yourself are free

A pleasure is it also to survey

Mighty contending hosts ranked o'er the plains,

While in the danger you share not yourself"

 

- Lucretius

 

"This global depression/crises was a lot more fun when gold was above $850" - Bimble

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but why such a huge drop in 2 days. So that means that everyone was buying ok until Monday then & decided to all stop buying together. :rolleyes:

 

Gold has been drifting down (in dollars) for a while now. It was $900 just 30 days ago, and higher than now 1 year ago. I don't quite get your point about the 2 days - markets never move in a straight line. If you look through the daily noise, gold is just drifting down (at quite a rate in dollars, though less so in most other currencies) at the moment.

 

edit: GoM - the jewelry I am referring to is Eastern 22+ carat stuff, sold at close to spot. The Western, highly worked, low carat stuff is not significant in the overall physical market.

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edit: GoM - the jewelry I am referring to is Eastern 22+ carat stuff, sold at close to spot. The Western, highly worked, low carat stuff is not significant in the overall physical market.

ah, ok...gotcha.

 

as for the other stuff, I still think something is fishy.

 

just call me a sceptic. I mean wtf are people buying then if they are selling so much gold ?

I don't believe cash is king (in the majority of countries) in this current environment.

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Julius Baer if i have the spelling right / secondary but strong Swiss operator

 

That's the one! Thank you.

 

http://www.tradingmarkets.com/.site/news/S...20News/1953842/

 

If the gold is kept in Switzerland, no counter party risk and delivery is possible, then I assume this compares with BV's product?

 

Any thoughts would be much appreciated.

 

BTW, I've had it with BV. I want to use a decent trading platform that is not a closed market. No stoploss and large spreads are not for me.

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This whole scneario smells like 74-76

 

au968-999.gif

 

Yes, I was thinking we may be in for quite a time horizon here... but then again, the macro situation seems so much more dire than the seventies. I could see things coming to a head next year.

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just call me a sceptic. I mean wtf are people buying then if they are selling so much gold ?

I don't believe cash is king (in the majority of countries) in this current environment.

 

You would think that with all this rush to cash that the banks would be getting better capitalized, credit liabilities paid back (deleveraging) and cash deposits increased...

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Gold has been drifting down (in dollars) for a while now. It was $900 just 30 days ago, and higher than now 1 year ago. I don't quite get your point about the 2 days - markets never move in a straight line. If you look through the daily noise, gold is just drifting down (at quite a rate in dollars, though less so in most other currencies) at the moment.

 

edit: GoM - the jewelry I am referring to is Eastern 22+ carat stuff, sold at close to spot. The Western, highly worked, low carat stuff is not significant in the overall physical market.

 

Yes, this a significant point. Most of us buy in other currencies so POG in a US dollar on steroids can be a distraction.

 

Wonder when the heart attack will come. :)

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