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Does anyone dare to add at these prices?

 

A Sov costs £150 at CID.

 

It’s not a bad price.

 

I would buy if I had any spare cash.

 

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A Sov costs £150 at CID.

 

It’s not a bad price.

 

I would buy if I had any spare cash.

Britannias are £640, amongst the cheapest ounce coins on CID

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More bullish comment on the inverse head & shoulders in gold;

 

http://www.howestreet.com/articles/index.php?article_id=9577

 

Weekly View of Gold

 

Here is a quick look at the weekly chart of gold. It shows that prices may take a few months for gold to retest the $1000 level if the trend continues higher. The large reverse head and shoulders pattern looks very promising for higher prices as well.

 

1eGoldActiveTradingPartnerMay20.jpg

 

 

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More bullish comment on the inverse head & shoulders in gold;

 

http://www.howestreet.com/articles/index.php?article_id=9577

More bullish comment on the inverse head & shoulders in gold;

 

http://www.howestreet.com/articles/index.php?article_id=9577

 

 

OOhh I love patterns.

 

It looks remarkably like a triple top to me. Look at the symmetry. If it goes near to 1000 again it will be be the stongest signal for a crash down to lows of 750. Be careful what you wish for.

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The Presidents Working Group might have some work to do this Friday, just look what the journalists are writing

(Is it me, or does every news outlet seem pro-gold at the moment, a worrying sign)

 

"Faith in Obama? Not according to gold prices"

http://www.todaysfinancialnews.com/gold-an...rices-9102.html

 

PS I am following the £:$ charts more than the gold $ price at the moment - what is going on there?

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The Presidents Working Group might have some work to do this Friday, just look what the journalists are writing

(Is it me, or does every news outlet seem pro-gold at the moment, a worrying sign)

 

"Faith in Obama? Not according to gold prices"

http://www.todaysfinancialnews.com/gold-an...rices-9102.html

 

PS I am following the £:$ charts more than the gold $ price at the moment - what is going on there?

 

Have a look at the sterling is toast thread...

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Even more on the classic inverse head & shoulders pattern in gold, people would do well not to ignore this. Target $1300.

 

http://www.marketoracle.co.uk/Article10817.html

 

A BEAUTIFUL GOLD CHART

 

The gold chart is wildly bullish, with a 1300 target. The gold price follows the central banks monetization and diverse federal fiscal stimulus worldwide, and has ignored season. As the big banks struggle to survive, the central banks take extraordinary measures, and frontal assaults are waged against hedge funds, all patterns have been departed from. What replenishes big banks also leaks generally into the system in time. As the economic recessions show stubbornness, expect fiscal stimulus to be monstrous and almost endless. The reversal pattern is unmistakable, the classic Head & Shoulders pattern. The neckline is at 1000 and the top of the head is at 715. The nearly 300 point potential indicates a 1300 target, a number that has come up frequently in several different patterns identified. Notice the upward vector in both moving averages, as well as the cyclical index. The only resistance will be the illegal kind from naked shorting of futures contracts by the usual villains who operate at the behest of governments, protected from prosecution. They will not be able to stop what comes. A challenge of the 1000 level could come very soon. Once 1000 is penetrated in clear fashion, with excitement and attention, an overshoot of 1300 could even occur.

 

gold-22_image004.jpg

 

 

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The Equivalent of Shorting Subprime in 2007

 

05/21/09 Baltimore, Maryland Could buying gold in 2009 be the investment equivalent of shorting subprime in 2007?

 

Recently famous fund manager John Paulson has been piling into gold funds. If you recall, Paulson gained celebrity for his early and aggressive shorting of all things subprime and financial, a move which garnered all sorts of accolades… highest-paid fund manager of last year, Barron’s No. 1 fund, etc.

 

Paulson has now become the largest holder of the SPDR Gold Trust, better known as GLD. His fund owns a whopping 8.7% stake, worth over $2.8 billion. That’s his No. 1 holding, worth over 30% of his entire portfolio.

 

According to a recently filed 13-K, he’s also picked up super-sized stakes in the Gold Miners ETF (GDX), Gold Fields, Kinross Gold and AngloGold Ashanti.

 

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Not that I wouldnt like to see the H&S work but it seems too obvious, there has been a lot of articles on it recently

 

I would forget about the reverse head and shoulders. I have more faith in double tops and double bottoms.

 

It just looks like we will be atempting our 3rd assault on $1000 from that chart. However, it is by no means certain that it will be broken this time. Might bounce off and go to 875ish before trying to break 1000 again.

 

 

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hmmm.........

http://www.marketoracle.co.uk/Article10817.html

14) The Germans have demanded all of their gold held in custodial accounts inside the United States to be returned to German soil. The story is not public, but details have come to me from a private source close to the action

 

anyone confirm it??

I don't believe this. Germany, like many others, will be defaulted on in terms of their gold kept in custody by the US.

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I don't believe this. Germany, like many others, will be defaulted on in terms of their gold kept in custody by the US.

As cgnao says, "dont panic, panic first". It would be best to be first in the que to get your gold off the Americans, if they still have some and get shot of dollars too.

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I would forget about the reverse head and shoulders. I have more faith in double tops and double bottoms.

 

It just looks like we will be atempting our 3rd assault on $1000 from that chart. However, it is by no means certain that it will be broken this time. Might bounce off and go to 875ish before trying to break 1000 again.

If we see gold dip at some point, it is likely that most currencies will weaken along with it. If you want to take advantage of this dip, you might need to be holding some US dollars or Yen.

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Have all shorters and traders uploaded this tune onto their iPods by now?

(Link to "the Funeral March")

They'll need it. They're done.

 

I dont think this was meant for me.

But just in case it was, I have set the record straight on the "Be Careful about Gold" thread:

 

I tried to exit my small Puts-on-Gold position, for a small loss on Thursday, and just missed getting out for a 10% loss.

 

The overall position was tiny, and my losses for the week on it, were about 1/10th of my gains from the move up

in my Junior mining shares.

 

A failed signal from my charts maybe, but no serious damage was done

 

BTW, I have near record amounts of cash right now, and it is held mostly in C$ and A$.

On top of that, I hold a "healthy" number of puts on stocks: US, UK, and HK

 

If the current thin support level goes on SPX, we could see a big down week on stocks next week

urz.gif

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If we see gold dip at some point, it is likely that most currencies will weaken along with it. If you want to take advantage of this dip, you might need to be holding some US dollars or Yen.

The dollar is weakening more than most at the moment. 80 on the usdx, 72 here we come .....

 

 

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The dollar is weakening more than most at the moment. 80 on the usdx, 72 here we come .....

It may keep going down presently but looks oversold at the moment. My point was that further out when/if we see a dip in gold this will most probably entail a spike in the dollar [the dollar and gold look to have returned to their inverse relationship]. If you think gold will dip some time in the next few months, it then makes sense to buy a few dollars when they are cheap.

 

For the record, I reckon the dollar will go to .40..... in a couple of years. However, nothing goes in a straight line.

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As our latest special offer was sold out very quickly we would like to give you the opportunity to once again enjoy a special 'golden treat':

 

 

 

!!We will be offering a gold coin for metal value without premium!!

 

 

 

The offer will go live on Sunday morning, May 24th 2009, at 9am on www.CoinInvestDirect.com and continues as long as stocks last.

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