HPCsoYESTERDAY Posted February 18, 2009 Report Share Posted February 18, 2009 Nope, the King of the Wild Frontier gotcha! Link to comment Share on other sites More sharing options...
Catflap Posted February 18, 2009 Report Share Posted February 18, 2009 The chart links don't work Sorry they were not links but underscores Try these; http://stockcharts.com/h-sc/ui?s=$GOL...id=p97590000336 http://stockcharts.com/h-sc/ui?s=$GOL...id=p44068394149 Note for catflpap: Click "linkable version" when trying to copy links from stockcharts. Thanks - didn't realise you could do that. Link to comment Share on other sites More sharing options...
HPCSucks Posted February 18, 2009 Report Share Posted February 18, 2009 Can anyone remember what ziggies GBP gold price target was for March? Was it 750? Link to comment Share on other sites More sharing options...
Pluto Posted February 18, 2009 Report Share Posted February 18, 2009 It seems as though the whole world's gold production (and some more) is going into GLD a gold ETF. If this is true, then it is comical. http://seekingalpha.com/article/121121-ten...id-the-gold-etf 3. Gold Acquisition: Then there's the amount of alleged gold acquired for GLD per se. Many sources, including the World Gold Council, the Sponsor of the ETF, have noted that the quantity of gold mined the past four years has plateaued somewhere below 2500 tonnes a year. Divide even that optimistic 2500 tonne number by 52 weeks a year, and you get about 48 tonnes of global gold production per week. Yet, somehow, during the first two weeks of February, 2009, for instance, GLD said it acquired almost 103 tonnes of gold, more gold than was mined in the entire world during that two week period. (Don't ask about getting gold from above ground stocks. Do you think that owners of large piles of gold are selling these days?) GLD's purchases apparently left zilch gold for all those other gold bullion ETFs - the IAU in the U.S., and the British, Swiss, Indian and Australian gold ETFs in their respective countries. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 18, 2009 Report Share Posted February 18, 2009 Thanks - didn't realise you could do that. It's cool because you can bookmark all your favorite settings for different instruments. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted February 18, 2009 Report Share Posted February 18, 2009 It seems as though the whole world's gold production (and some more) is going into GLD a gold ETF. If this is true, then it is comical. http://seekingalpha.com/article/121121-ten...id-the-gold-etf 3. Gold Acquisition: Then there's the amount of alleged gold acquired for GLD per se. Many sources, including the World Gold Council, the Sponsor of the ETF, have noted that the quantity of gold mined the past four years has plateaued somewhere below 2500 tonnes a year. Divide even that optimistic 2500 tonne number by 52 weeks a year, and you get about 48 tonnes of global gold production per week. Yet, somehow, during the first two weeks of February, 2009, for instance, GLD said it acquired almost 103 tonnes of gold, more gold than was mined in the entire world during that two week period. (Don't ask about getting gold from above ground stocks. Do you think that owners of large piles of gold are selling these days?) GLD's purchases apparently left zilch gold for all those other gold bullion ETFs - the IAU in the U.S., and the British, Swiss, Indian and Australian gold ETFs in their respective countries. yep i smell a rat another con Link to comment Share on other sites More sharing options...
Catflap Posted February 18, 2009 Report Share Posted February 18, 2009 It looks like a lagging indicator to me. This is a one way trip to the poor house. Say you went short in Jun 2008 (the middle of the chart) based on the bearish cloud: Gold went up a lot and came down a bit - You’ve lost money In Aug 2008, the cloud turns green, close the short open a long and… You’ve lost money again. In Sept 2008, the cloud turns red, close the long open a short and guess what! You’ve lost money again! There's far more to this than meets the eye and a lot more things to consider as to simply whether a cloud is bullish or bearish, it's not as easy as that - if only. It also depends if you are looking at a daily or weekly chart as the weeky trend is the one you want to trade, in which case the chart has a bullish cloud from June all the way to early March on the dollar $GOLD chart. As we know, gold should have gone up in August as a safe haven but the paper markets took it down in forced liquidation. I'm going to learn it as it's meant to be a very powerful trading tool. http://stockcharts.com/h-sc/ui?s=$GOL...id=p50671748480 http://www.swing-trade-stocks.com/200805.html While Ichimoku utilizes five separate lines or components, they are not to be used individually, in isolation, when making trading decisions, but rather used together to form an integrated "whole" picture of price action that can be gleaned "at a glance". Thus, a simple look at an Ichimoku chart should provide the Ichimoku practitioner with a nearly immediate understanding of sentiment, momentum and strength of trend. Tenkan Sen/Kijun Sen Cross: This is similar to any moving average crossover system. When the blue line crosses above the red line from below, it is a buy signal. When the blue line crosses below the red line from above, it is a sell signal. Kijun Sen Cross: When price crosses the blue line from below it, there is a buy signal. When price crosses the blue line from above it, there is a sell signal. Kumo Breakout: The Kumo is the "cloud" or shaded red and green areas on the chart above. When price closes above the Kumo, it is a buy signal. When price closes below the Kumo, it is a sell (short) signal. Senkou Span Cross: This one is pretty simple. On the chart above you can see how the Kumo changes from red (bearish) to green (bullish) and vice versa. A buy or sell signal is generated when this change occurs. Chikou Span Cross: When the green line crosses through price from the bottom, it is a buy signal. When the green line crosses through price from the top, it is a sell signal. I think you need to explore it more to appreciate how powerful it really is. Using $GOLD:XBP then the you would have had a long position confirmed right at the bottom when gold was £450'ish which would have been good for loading up on miners. What I am particularly interested in right now is that gold in sterling terms could keep rising into August (albeit at a slowed rate) even though it might fall again dollar terms. Thinking about it, if the dollar strengthens then gold will fall again but sterling is likely to also fall so this is perhaps the forecasting in the clouds you are seeing. I find it fascinating and it might at least give anyone in the UK a better idea on the future direction of gold. http://stockcharts.com/h-sc/ui?s=$GOL...id=p50671748480 Link to comment Share on other sites More sharing options...
warpig Posted February 18, 2009 Report Share Posted February 18, 2009 You made that one too easy... Davy_Crockett.jpg over $1000 by the weekend? Even more obscure Link to comment Share on other sites More sharing options...
warpig Posted February 18, 2009 Report Share Posted February 18, 2009 it just bounced off £693/t oz, I think we might see £700 tonight. Link to comment Share on other sites More sharing options...
ziknik Posted February 19, 2009 Report Share Posted February 19, 2009 Can anyone remember what ziggies GBP gold price target was for March? Was it 750? Update and target for this move. Beware short term pullbacks. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 19, 2009 Report Share Posted February 19, 2009 BOE Unanimously Asks For Authority to Create Money (Update1) http://www.bloomberg.com/apps/news?pid=206...&refer=home Feb. 18 (Bloomberg) -- Bank of England policy makers unanimously agreed to ask the government for authority to create money in an effort to kick start the economy, saying further interest rate cuts may hurt the profitability of banks. The Monetary Policy Committee, led by Governor Mervyn King, voted 8-1 to cut the main rate to 1 percent, the lowest since the central bank was founded in 1694, minutes of the Feb. 5 decision published in London today show. David Blanchflower, argued for a deeper reduction so rates go as low as possible “without delay.” The minutes suggest rates cuts are becoming less potent, pushing the central bank to use unprecedented means to revive the economy from its worst slump since 1980. King and Chancellor of the Exchequer Alistair Darling will exchange letters about the next steps within a few days, a spokesman for the Treasury said. “To the extent that further cuts in bank rate could not inject sufficient stimulus, the committee would need to use alternative policy measures,” the minutes said. “Therefore the committee unanimously agree that the governor should write on its behalf to the chancellor to seek authority to conduct purchases of government and other securities, financed by the creation of central bank money.” The pound fell after the report and traded at $1.4167 as of 10:20 a.m. in London. The Bank of England’s forecasts, published last week, show the economy will contract at an annual 4 percent rate by the end of the first quarter and inflation will slow to 0.5 percent at the end of next year. :lol: GoldUS$ = 984.3 GoldGBP = 690.5 GoldNZ$ = 1922.4 Link to comment Share on other sites More sharing options...
FWIW Posted February 19, 2009 Report Share Posted February 19, 2009 BOE Unanimously Asks For Authority to Create Money (Update1) http://www.bloomberg.com/apps/news?pid=206...&refer=home :lol: GoldUS$ = 984.3 GoldGBP = 690.5 GoldNZ$ = 1922.4 I like the use of that GoldFIAT currency convention!!! I especially like the £690.50 per oz! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 19, 2009 Report Share Posted February 19, 2009 I like the use of that GoldFIAT currency convention!!! I especially like the £690.50 per oz! You can do this too: SilverUS$ = 14.357 SilverGBP = 10.0623 SilverNZ$ = 28.044 :D Link to comment Share on other sites More sharing options...
Catflap Posted February 19, 2009 Report Share Posted February 19, 2009 BOE Unanimously Asks For Authority to Create Money (Update1) http://www.bloomberg.com/apps/news?pid=206...&refer=home I wonder when the first £100 note comes out?....... obviously a proud moment for Robert Mugabe to have the UK following his example. Link to comment Share on other sites More sharing options...
FWIW Posted February 19, 2009 Report Share Posted February 19, 2009 I wonder when the first £100 note comes out?....... obviously a proud moment for Robert Mugabe to have the UK following his example. [sarcasm ON] No, No, No - it's different for the UK and you can't compare with Zimbabwe. Our central bankers know what they are doing. You do know Zimbabwe is led by a dictator? Their central bankers are piss poor morally and have no idea what they are doing. We do know what we are doing...that is the key difference. [sarcasm OFF] Link to comment Share on other sites More sharing options...
ziknik Posted February 19, 2009 Report Share Posted February 19, 2009 I wonder when the first £100 note comes out?....... obviously a proud moment for Robert Mugabe to have the UK following his example. We (Scotland) have them already. http://www.scotbanks.org.uk/banknoteapp/BoS_100.html http://www.scotbanks.org.uk/banknoteapp/BoS_T_100.html http://www.scotbanks.org.uk/banknoteapp/CLYDE_100.html http://www.scotbanks.org.uk/banknoteapp/RBS_100.html Link to comment Share on other sites More sharing options...
ologhai Posted February 19, 2009 Report Share Posted February 19, 2009 Here's my latest work of pure imagination... I call it Predicting the Peak! Like many artists, I'm hoping not to have to die before it becomes worth something! Link to comment Share on other sites More sharing options...
lupercal Posted February 19, 2009 Report Share Posted February 19, 2009 Gold primed to be ‘mania asset http://www.ft.com/cms/s/0/eff64394-fdd7-11...0077b07658.html In fact, gold is currently one of the few remaining major asset classes where a case could be made for it to rise in a parabolic fashion. Once the psychologically significant $1,000 an ounce is breached convincingly, the speed of the move beyond that level could accelerate sharply. One precondition for a mania is there must be uncertainty about how the asset is properly valued which allows “new era” thinking to take hold. This is very true for gold. Price explosion might not be imminent, however. Gold is experiencing unprecedented buying by exchange-traded funds, offset by substantially reduced jewellery demand. The fall in the Indian rupee has meant Indian gold prices have reached record levels. This is causing a slowdown in jewellery purchases (even though rupee expenditure levels are holding up, the tonnage of gold imports is suffering). The long-term story for gold, however, is as a remonetisation play as investors lose faith in fiat currencies. Keep an eye on gold lease rates; a spike would be a good lead indicator that gold is about to punch higher as this would reflect a shortage of lendable bullion. Rising lease rates will cause gold to go into backwardation as holders of gold may not want to sell their gold forward under any circumstances a trend currently evidenced by the high physical premium being paid for gold coins. Rising lease rates prefigured the last big move in gold back in the spring of 2007 just as the two Bear Stearns hedge funds were blowing up. Central Banks feared counterparty risk for the first time in 20 years and substantially curtailed gold lending and sales. This led to a 40 per cent rally in gold from $700 to over $1,000. How high can gold ultimately go? A Dow Jones Industrial Average/gold ratio of 2:1 would be a good sign the bull market in gold is getting well advanced. We saw this in 1932 and 1980. Only nine years ago in 2000, however, this ratio reached over 40:1. Link to comment Share on other sites More sharing options...
lupercal Posted February 19, 2009 Report Share Posted February 19, 2009 http://www.ft.com/cms/s/0/460e81c0-fdf0-11...?nclick_check=1 Investors rush into gold coins Investors in Europe and North America went on an extraordinary shopping spree for gold coins and bars in the final quarter of last year, snapping up 148.5 tonnes, a jump of 811 per cent compared with the same period in 2007, as the collapse of Lehman Brothers led a massive increase in safe haven buying. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted February 19, 2009 Report Share Posted February 19, 2009 Kitco is down - always a bullish sign Link to comment Share on other sites More sharing options...
drminky Posted February 19, 2009 Report Share Posted February 19, 2009 Kitco is down - always a bullish sign Well, amongst all this bullishness I see, I have to say, I've been busy selling into this strength today. Never my core physical holdings, but taking profits on some gold stocks, and lightening up on a little goldmoney silver. Its well possible we might have a little further to run, but I'll stick make money on my core positions if thats the case. Ditto if it really is 'different this time' and this is the beginning of a run on all fiat currencies.. Does anyone else feel we are just a little overextended at this point? Link to comment Share on other sites More sharing options...
Wanderer Posted February 19, 2009 Report Share Posted February 19, 2009 I noted with interest that the 'Most sold stocks' on Selftrade today contained GBS and Physical Silver. I'm not sure if that is a bearish indicator (smart money getting out?) or a bullish one (the prices seemed to hold more-or-less despite heavy selling). My trigger finger is getting itchier. I've made really good money the last 8 months but it isn't usable till I convert it into 'fiat' money. Link to comment Share on other sites More sharing options...
drminky Posted February 19, 2009 Report Share Posted February 19, 2009 http://www.financialsense.com/Market/cpuplava/2009/0218.html Gold, Is the Future Still Bright or Fading? For those who haven't seen todays wrapup. Excellent analysis. Link to comment Share on other sites More sharing options...
cgnao Posted February 19, 2009 Report Share Posted February 19, 2009 My source informed me that a co-ordinated intervention is being organized in the gold market. Don't sell. Buy later. Link to comment Share on other sites More sharing options...
Wanderer Posted February 19, 2009 Report Share Posted February 19, 2009 Dumb question, but if your source is good and there is about to be intervention, why not sell, wait, and buy back for less? Link to comment Share on other sites More sharing options...
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