drbubb Posted October 6, 2009 Report Share Posted October 6, 2009 A cuddly rocket? A kids rocket. I'm still long, I dont want to tempt fate. Let me sell down, then you'll see a proper rocket (with all its peak-signalling connotations) Link to comment Share on other sites More sharing options...
nicejim Posted October 6, 2009 Report Share Posted October 6, 2009 it is ALL about the weak dollar today. I think its a reaction to the "dump the dollar" story Don't people buy on the rumour and sell on the news? This is technically still a rumour but it's been accepted on these boards for a while now and has just become "news". We're not that far ahead of the game are we? Anyway, the timeline in the Fisk story was 2018. Link to comment Share on other sites More sharing options...
drbubb Posted October 6, 2009 Report Share Posted October 6, 2009 My impression is that a good day for gold is often a bad day for the markets. Not today. The Bulls still want to run together, be they Gold Bulls or Stock Bulls. They are celebrating the immanent "demise" of the Dollar, which may or may not come. Link to comment Share on other sites More sharing options...
Pixel8r Posted October 6, 2009 Report Share Posted October 6, 2009 it is ALL about the weak dollar today. I think its a reaction to the "dump the dollar" story USD Gold + 2.15% GBP Gold + 2.28% Link to comment Share on other sites More sharing options...
drbubb Posted October 6, 2009 Report Share Posted October 6, 2009 I have a question for those more knowledgable than myself. With the last COT report showing near record short positions on Gold and Silver, when will the traders with these short positions have to cover them - especially if the price refuses to budge low enough for it to be profitable. Can they just hold onto losing positions forever, thus never covering? How can they continue to short something and never cover it? The Shorts are the strong hands. The Longs are the weak hands, and the hot money Normally, this is true. But not always. You may be betting on the "not always" Link to comment Share on other sites More sharing options...
romans holiday Posted October 6, 2009 Report Share Posted October 6, 2009 Not today. The Bulls still want to run together, be they Gold Bulls or Stock Bulls. They are celebrating the immanent "demise" of the Dollar, which may or may not come. One more wave up in the inflation trade? Link to comment Share on other sites More sharing options...
drbubb Posted October 6, 2009 Report Share Posted October 6, 2009 One more wave up in the inflation trade? It is possible. Watch WTI Crude, for a possible breakout over $75. If the dollar slides to new lows, we may see it. There are NO GUARANTEES in the trading business. Certainly, there is no guarantee that the Gold bull move will make it thru the week Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 6, 2009 Author Report Share Posted October 6, 2009 You are "full of it" BTW ! Also, as I said earlier (see: "I HATE being misquoted" Post, and still do !) I am still net Long Gold. Fair enough. I guess I just don't like the trading/negative gold headlines, because IMO they put people at risk. Maybe this forum really needs a better investors/traders divide? Link to comment Share on other sites More sharing options...
Pixel8r Posted October 6, 2009 Report Share Posted October 6, 2009 Certainly, there is no guarantee that the Gold bull move will make it thru the week I wouldn't count on it, $1350 here we come. Link to comment Share on other sites More sharing options...
warpig Posted October 6, 2009 Report Share Posted October 6, 2009 Odd I can't find this story on the BBC website now, it was on the main business page. Is this a conspiracy...? It has been reported on the BBC already. Gold price rises to all-time high EDIT: Found it, but it moved off the main page pretty quick... It can be found under Business - Economy. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 6, 2009 Author Report Share Posted October 6, 2009 Still making new records: $1042.37 Link to comment Share on other sites More sharing options...
sideshow Posted October 6, 2009 Report Share Posted October 6, 2009 Tell that one to my OH, not me My sum total of GBP is just over £1000; & that will be spent by the end of this month Well you're doing better than me then. I've been dabbling in Bullion Vault over recent months but I sound like your husband! I do have a decent stash but it's only 14% total net worth - so I wouldn't say I'm "protected" at all. I also find I worry far less about the physical I hold - it's just stashed away and forgot about, whereas with Bullion Vault I check the balance going up and down every day. By the way, has anyone used Bullion Vault to transfer currencies? I was thinking of selling some bullion for Euros and immediately buying it back with the remaining Sterling balance. It seemed quite a cost effective way of moving currency. Link to comment Share on other sites More sharing options...
electroweak Posted October 6, 2009 Report Share Posted October 6, 2009 Still making new records: $1042.37 and over £700 GBP for the real thing...from CID: 1 Ounce Nugget 2009 31.10 Gramm £659.88 £702.44 £702.44 Link to comment Share on other sites More sharing options...
grumpy-old-man Posted October 6, 2009 Report Share Posted October 6, 2009 it annoy's me to hear the gloomberg team saying gold is up because of dollar weakness rather than gold is up because it has stronger fundamentals than the dirty dollar. Link to comment Share on other sites More sharing options...
warpig Posted October 6, 2009 Report Share Posted October 6, 2009 Don't they just hate gold.... it annoy's me to hear the gloomberg team saying gold is up because of dollar weakness rather than gold is up because it has stronger fundamentals than the dirty dollar. Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 6, 2009 Report Share Posted October 6, 2009 Gold Trading Thread #20: October 2009, Is the seasonal run in Gold ending? Link to comment Share on other sites More sharing options...
spooon Posted October 6, 2009 Report Share Posted October 6, 2009 Don't they just hate gold.... Does gold suddenly have better fundamentals than it did 24hrs ago? Link to comment Share on other sites More sharing options...
Pixel8r Posted October 6, 2009 Report Share Posted October 6, 2009 I prefer it when Steve starts the monthly gold thread. Link to comment Share on other sites More sharing options...
LauraB Posted October 6, 2009 Report Share Posted October 6, 2009 Don't they just hate gold.... Soon it will be blamed for nearly all the ills of the western world along with the peasants who have the temerity to own it. Link to comment Share on other sites More sharing options...
alexreeve Posted October 6, 2009 Report Share Posted October 6, 2009 Does gold suddenly have better fundamentals than it did 24hrs ago? Yep, gets better every day. Not because gold gets more shiny or ductile. Every day there's more bad news for taxes, and more government spending programmes, and more people looking for their share of existing spending programmes. Link to comment Share on other sites More sharing options...
signofthetimes Posted October 6, 2009 Report Share Posted October 6, 2009 http://www.bloomberg.com/apps/news?pid=206...id=a6HmCq6IQClk someone else finally getting it? “Gold is acting like the ultimate currency,” said Chip Hanlon, president of Delta Global Advisors Inc. in Huntington Beach, California. “Central banks are following the same monetary course and trying to stimulate and inflate their way back to growth. Everyone’s concerned about the dollar, but it’s not like you can hate the dollar and fall in love with the euro or the yen.” Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 6, 2009 Author Report Share Posted October 6, 2009 Does gold suddenly have better fundamentals than it did 24hrs ago? No (at least not much). It's simply undervalued. The price could easily be $5,000 - $12,000 (with no further money printing). Link to comment Share on other sites More sharing options...
nicejim Posted October 6, 2009 Report Share Posted October 6, 2009 Fisk is an intelligence asset. Don't believe everything he writes. A nicely planted story. Got any evidence? In 2003 he revealed the place of manufacture of a missile which exploded in a Baghdad market to be somewhere in Texas (IIRC). He was shown a piece of shrapnel with a traceable serial number whereas the US and British authorities claimed it was an Iraqi anti-aircraft missile. I know it's only circumstantial but that doesn't sound like a plant to me. Anyway, why do you suppose the story about moving away from the dollar is false? Haven't there been enough indications to be reasonably sure of the accuracy of at least some of the story? p.s. there's a new forum for that sort of claim. Perhaps you could expand there without distracting this thread. Link to comment Share on other sites More sharing options...
spooon Posted October 6, 2009 Report Share Posted October 6, 2009 Yep, gets better every day. Not because gold gets more shiny or ductile. Every day there's more bad news for taxes, and more government spending programmes, and more people looking for their share of existing spending programmes. But is any of this really 'new' information? I wouldn't even deem the Independent article to be 'news'. My point being, this latest move higher is entirely linked to a mixture of dollar weakness and technical buying. Do you think gold has a story of it's own that is strong enough to withstand a sharp reversal in the dollar later this week for example? Or perhaps the market has just decided it's done enough work below 1030 now and the actual trigger is not that important. Difficult questions. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 6, 2009 Author Report Share Posted October 6, 2009 ... this latest move higher is entirely linked to a mixture of dollar weakness and technical buying. ... Can you prove this claim? Because otherwise, I just see here a little move towards the equilibrium based on fundamentals. Link to comment Share on other sites More sharing options...
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