G0ldfinger Posted September 11, 2009 Author Report Share Posted September 11, 2009 Here is the price chart of something that I am interested in (normal and log-chart). Can the technical gurus please tell me, what the price will do in the short-term and the long-term? Cheers. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 11, 2009 Author Report Share Posted September 11, 2009 http://jsmineset.com/2009/09/11/hourly-act...trader-dan-161/ Imagine that – limited, finite supplies of a yellow metal which has stood the test of time considered to be a gamble while unlimited, ever-increasing with no end in sight, debt obligations of what has to be regarded as a bankrupted nation are viewed as a sound place into which one’s wealth can be socked away for safe keeping! Historians looking back at this period at some point in the future are going to marvel at this. Link to comment Share on other sites More sharing options...
Compounded Posted September 11, 2009 Report Share Posted September 11, 2009 Maybe teaching the kids about gold should be left until they're a bit older. No way Jose - the more they know now the more they will be prepared - they will afterall be the ones who have to sort out this paper money debt mess. Link to comment Share on other sites More sharing options...
Pluto Posted September 12, 2009 Report Share Posted September 12, 2009 The drums are getting louder regarding fools' gold*. *fools gold is any item claimed to be gold you can't polish. The magnitude of this paper gold and silver scam will even exceed that of the Madoff Ponzi scheme. The Stanford scam will look like chump change by comparison. You should own only physical gold and silver, which is in your possession. The only paper gold and silver you should own are the producer shares, period. All futures contracts, ETF shares and mint certificates are now potentially bottomless capital loss pits. http://socioecohistory.wordpress.com/2009/...precious-metal/ Link to comment Share on other sites More sharing options...
romans holiday Posted September 12, 2009 Report Share Posted September 12, 2009 Big yellow blob is where we need to pay attention. I've been riding this down for a while, and my green line has never even been touched. IF she bounces off the bottom blue line, breaks through the green line and breaks through my 38.2 fib retracement, then I will go long! That's a big IF! If she breaks through bottom blue line, lower bollinger band and white median line then the usa are funked... Of course I only do this to turn fiat into PM's! I am looking to buy soon also. Buy on weakness and all that and you know that when the market is 100% against it, it is most likely to reverse. Link to comment Share on other sites More sharing options...
ziknik Posted September 12, 2009 Report Share Posted September 12, 2009 CID have one of their vague special offers on again, starting Saturday: It's a 1/2 Ounce Nugget 2009 for €355 Fixed Price Link to comment Share on other sites More sharing options...
Wanderer Posted September 12, 2009 Report Share Posted September 12, 2009 The drums are getting louder regarding fools' gold*. *fools gold is any item claimed to be gold you can't polish. The magnitude of this paper gold and silver scam will even exceed that of the Madoff Ponzi scheme. The Stanford scam will look like chump change by comparison. You should own only physical gold and silver, which is in your possession. The only paper gold and silver you should own are the producer shares, period. All futures contracts, ETF shares and mint certificates are now potentially bottomless capital loss pits. http://socioecohistory.wordpress.com/2009/...precious-metal/ Now don't get me wrong, I've nothing against physical, but if we are seeking a comparison of risks I'd say the risk of ** A 40% fall in global equity prices in the next quarter; is much greater than the risk of **Gold ETFs and Mint Certificates being rendered worthless. That might happen some day, but I suspect it is a fair old while away yet... Link to comment Share on other sites More sharing options...
Plastic Elastic Posted September 12, 2009 Report Share Posted September 12, 2009 Look at the COT data! I don't like this. Link to comment Share on other sites More sharing options...
id5 Posted September 12, 2009 Report Share Posted September 12, 2009 That reminds me. Arrrrrrrrrrrr... http://www.talklikeapirate.com/ ... Thanks for that I nearly missed it. Entered into the diary, it really pisses people off in meetings and conference calls when you start talking like a pirate and given the complete loss of control from a French bloke last year who was in one of the meetings I will definitely tell everyone else what day it is on Link to comment Share on other sites More sharing options...
wren Posted September 12, 2009 Report Share Posted September 12, 2009 An interesting article about currency debasement in the Roman Empirte. Near the end: Constantine's reforms were also partial, but of sufficient vigor and radical character to make a difference. Through his willingness to extract by compulsion the gold reserves of the taxpayers, forcing them to disgorge their bullion, he placed an ever-increasing supply of gold in the hands of government officials. This was increasingly used to pay military bonuses, salaries for bureaucrats, and even payments for certain public works. Increasingly, then, a two-tier monetary system emerged in which the government, the soldiers, and the bureaucrats enjoyed the benefits of a gold standard while the nongovernmental portion of the economy continued to struggle with a rapidly inflating fiat currency. The new gold solidus — circulated widely by its possessors, the government-salaried employees — sold at various market rates to customers who desperately needed it to pay their taxes. Thus the state had found a way to protect itself and its servants from the unwholesome effects of its own earlier inflationary cycle, while slowly withdrawing from the cumbersome and wasteful system of accepting taxes and paying salaries in kind. Meanwhile, the masses suffered from a massive injection of fiat money, which they had to accept in payment for government requisitions of gold, silver, or other commodities. http://mises.org/story/3663 Link to comment Share on other sites More sharing options...
wren Posted September 12, 2009 Report Share Posted September 12, 2009 Link to comment Share on other sites More sharing options...
bazmercer Posted September 12, 2009 Report Share Posted September 12, 2009 I thought this was quite interesting, the gf was surprised at how valuable one of those "bars you see in the films" was "Inside a Gold factory" http://news.bbc.co.uk/1/hi/in_pictures/8250772.stm edit: spaz fingers Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 12, 2009 Author Report Share Posted September 12, 2009 Someone's stash. This guy is ready for the hyperinflation, I would say. http://goldismoney.info/forums/showpost.ph...postcount=29413 Link to comment Share on other sites More sharing options...
bazmercer Posted September 12, 2009 Report Share Posted September 12, 2009 I tried to count, and gave up. Estimating it at about 130 oz or more. I lost track... Link to comment Share on other sites More sharing options...
Bosworth Posted September 12, 2009 Report Share Posted September 12, 2009 I tried to count, and gave up. Estimating it at about 130 oz or more. I lost track... Look's like there are also a couple of kilo bars squirrelled away there as well in a gloriously goldy slutty way... Link to comment Share on other sites More sharing options...
headmelter Posted September 13, 2009 Report Share Posted September 13, 2009 Mmmm.... that is nice... Link to comment Share on other sites More sharing options...
drbubb Posted September 13, 2009 Report Share Posted September 13, 2009 Look at the COT data! I don't like this. HEDGIE-related THRUST 9.0804 8.04 94.68 : 105.48 129,799 370,114 71.3% 240,315 / 21.2 223,607 43.1% 204,175 444.5 126.71 9.0811 8.11 93.00 : 103.03 125,252 357,712 70.9% 232,460 / 20.1 216,015 42.8% 197,740 430.2 123.88 9.0818 8.18 92.06 : : 98.82 128,075 338,839 68.7% 210,764 / 18.9 205,835 41.7% 171,457 382.2 111.43 9.0825 8.25 92.76 : 100.88 128,731 348,913 69.6% 220,182 / 19.4 209,086 41.7% 179,610 399.8 115.58 9.0901 9.01 93.90 : 100.xx 128,383 354,714 70.1% 226,329 / 19.9 211,406 41.8% 190,951 9.0908 9.08 97.43 : 100.xx 136,955 427.167 70.9% 290,211 / 25.5 262,004 43.8% 241,986 Week= Mday $-GLD swing CmLong -CmShort - Pct. - = CmNetS / L$bn NC.Long / Pct - NC.Net Choke adjCh Powered by strong buying from Spec Longs. Their net Gold futures position increased $5.6 billion (+28%) in a single week! Link to comment Share on other sites More sharing options...
Pixel8r Posted September 13, 2009 Report Share Posted September 13, 2009 Look at the COT data! I don't like this. Here's Ed Steer's comment on it, from his gold & silver daily Also there is a Ted Butler doing his "Butler on Gold & Silver" audio with Eric King. And now for the Commitment of Traders report. I knew it would be bad, but just the sight of the numbers took my breath away. In silver, the bullion banks went short another 8,345 contracts... 41.73 million ounces. That's more silver than the entire U.S. mining industry will produce in one year! As of Tuesday's cut-off, '4 or less' bullion banks are now net short 56,401 contracts... 282.0 million ounces of silver. The full-colour COT graph for silver is linked here. Silver was bad enough... but gold...wow! As you know, in the week that was, and as of the close of trading on Tuesday, these same bullion banks went massively short gold as well. As Ted says in his interview with Eric King below, it's the biggest one week change he has ever seen in his three decades of watching it. The gold net short position by the bullion banks increased by... wait for it... 54,089 contracts. That's 5.4 million ounces of gold that the banks shorted in just one week!!! Anyway, 'da boyz' [as of Tuesday's close] have a total net short position in gold of 270,797 contracts... 27.1 million ounces. And, like silver, the short position in gold has deteriorated significantly since then... Ted figures around 20,000... I'd say closer to 30,000 contracts. I say that because 'da boyz' threw everything at the gold and silver market on Friday. The open interest report on Monday [for Friday's trading] will tell all... and it won't be pretty. The full-colour COT report for gold is linked here. It's a horrifying picture... and if it doesn't scare you half to death, it's obvious that you don't understand the problem. Link to comment Share on other sites More sharing options...
creditcrunch Posted September 13, 2009 Report Share Posted September 13, 2009 More public phase stuff... http://news.bbc.co.uk/1/hi/in_pictures/8250772.stm Link to comment Share on other sites More sharing options...
azazel Posted September 13, 2009 Report Share Posted September 13, 2009 Here's Ed Steer's comment on it, from his gold & silver daily Also there is a Ted Butler doing his "Butler on Gold & Silver" audio with Eric King. "and if it doesn't scare you half to death, it's obvious that you don't understand the problem." I do not understand the problem. Does that suggest that the price of gold will plummet or that the bullion banks will get caught with thier pants down? Link to comment Share on other sites More sharing options...
Errol Posted September 13, 2009 Report Share Posted September 13, 2009 Below we list the popular consensus about gold that we heard over the years since 2000, prefaced by the cumulative average gold price that year. What they said, when they said it, and the gold price that year: 1. Gold $271: "Gold will continue to decline as it has for 20 years to $200 or lower." 2. Gold $275: "Gold is certain to continue its decline to $200 or lower due to deflation following the collapse of the stock market bubble." (That was the year we backed up the truck.) 3. Gold $310: "Despite a modest recent rise due to increased gold demand driven by investors�€™ fear associated with the 9/11 attacks, gold will soon resume its decline to $200 or lower once the fear subsides." 4. Gold $363: "The rise in the gold price since 2001 is due to a combination of temporary factors, such as investors�€™ fears about oil and inflation related to the War in Iraq and a weak dollar. Soon the positive outcome of the war will be clear, the dollar will strengthen, and gold demand will drop off, pushing prices back down toward $200." 5. Gold $410: "Economic recovery is pushing up gold demand and prices. The Treasury department has restated its strong dollar policy. Gold will soon lose its luster and fall back to $300." 6. Gold $445: "Gold prices increased only slightly this year over last year, indicating a topping in the gold price. Next year gold prices will fall to $300 or lower." 7. Gold $604: "The spike in the price of gold this year is due to short term dollar weakness. Look for the dollar to rally and gold to decline back to more normal levels below $400 starting next year." 8. Gold $695: "Gold traded mostly sideways over the last year, indicating a topping in the gold price. Look for gold to decline to well under $500 next year." 9. Gold $872: Early in the year, "Gold is participating in a bubble in commodities. When the commodity bubble pops, gold will fall more than 50% along with oil and other commodities." Later in the year: "Gold has crashed to $716 along with stocks and commodities and will continue to decline to $500 next year." 10. Gold $924: "The gold price reflects widespread concern about the financial system in the wake of the global financial crisis. As the system steadies, the gold price will drift down to under $700." What does each popular consensus position about gold have in common? One, wrong every time. Two, every few years the prediction of the following year's price "bottom" was increased in ratchet-like fashion. Waiting to buy based on the consensus has been a mistake eight years running. http://www.itulip.com/forums/showthread.ph...1715#post121715 Link to comment Share on other sites More sharing options...
Jake Posted September 13, 2009 Report Share Posted September 13, 2009 I do not understand the problem. Does that suggest that the price of gold will plummet or that the bullion banks will get caught with thier pants down? Yes. Come on China, time to use up those useless dollars! Buying opportunity coming as the market tests it's mettle. (Sorry) Link to comment Share on other sites More sharing options...
drbubb Posted September 13, 2009 Report Share Posted September 13, 2009 Here's Ed Steer's comment on it, from his gold & silver daily Also there is a Ted Butler doing his "Butler on Gold & Silver" audio with Eric King. He's got his head screwed on backwards! The commerc ials accomodated huge buying by the Hedgies, How soon will they run out of capital to chase these speculative Gold positions? They are hot money people, after all... Powered by strong buying from Spec Longs. Their net Gold futures position increased $5.6 billion (+28%) in a single week! Link to comment Share on other sites More sharing options...
marceau Posted September 13, 2009 Report Share Posted September 13, 2009 I do not understand the problem. Does that suggest that the price of gold will plummet or that the bullion banks will get caught with thier pants down? The problem is the inevitable size of the move when the market picks a direction. The scale of the positions involved mean the little guy will be vapourized when the move comes- even the bullion banks may take a hit on this one when it comes. Heavy speculative interest from the black boxes and hedgies on one side, and the PM 'monarchy' doing all of the selling is a highly dangerous combination. Yet another reason to step away from anything but physical gold at the moment, the paper game is way too dangerous. Somebody has got this dramatically wrong. Who? Let's flip a coin. Link to comment Share on other sites More sharing options...
Errol Posted September 13, 2009 Report Share Posted September 13, 2009 The scale of the positions involved mean the little guy will be vapourized when the move comes- even the bullion banks may take a hit on this one when it comes. Anyone attempting to trade gold on leverage (or with anything but money they can afford to lose) deserves to be wiped out. It would teach them a valuable lesson. If you want to get gold, get GOLD. The real stuff. Stuff you can hold in your hand. Link to comment Share on other sites More sharing options...
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