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I have been following the gold price for a few years now. I have some invested, although I don't buy and sell, I just buy when I think it's low and then wish I sold when it was high. When there is a high like this we usually get a month or so of the price increasing, followed by a big drop. I have heard a few say sell in may and go away, but I think it's more like April now. I will probably give it until the end of this month then sell half of my holdings. This isn't a very technical or chartist approach, it's just my relatively short experience in trading.

 

Also, how comes this board fills up with posts when gold drops and is relatively quiet when gold is rising? In terms of the pound, gold is rocketing :)

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Also, how comes this board fills up with posts when gold drops and is relatively quiet when gold is rising? In terms of the pound, gold is rocketing :)

Probably because it is more of a pound story than a gold story. Gold is in a bit of a stand-off with the dollar at the moment.

 

edited.

 

dg.gif

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Probably because it is more of a pound story than a gold story. The dollar price is looking indecisive at the moment.

 

 

Good point, thanks for posting that chart. It does tell a good story. Looks like the pound may have some way to go yet!

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Yes, thanks for re-pinning.

 

Its what we have been expecting (pix lines). Where do you think it will peak in dollars on this move up?

 

I think in time rather than price but a toppy price and other technical indicators around a projected peak should all come together. Gold peaked over 6 weeks earlier than equities, but the points I used for equities are still the same which gives me a projected peak of April 7, 2010. A slightly different way gives me a date of April 11, but that's a Sunday so I would say April 12 - so somewhere between those dates is my best guess but it could be way too early.

 

I've not tried forecasting likely peaks for gold before - I don't have the confirming market breadth data like I do with equities or a gold VIX so I wouldn't put too much faith in it. I will however relax and see gold run up in March and then get more cautious as we get to early April.

 

I had originally thought that gold might peak in early May with equities and then recently heard Mark Leibovit say that he had a cyclical forecast of April 27, 2010 for a peak in gold and he's been doing this a lot lot longer than me and has far more experience!. Watch these videos to see what he says about gold, he could be right:

 

http://www.youtube.com/watch?v=Qd3kTnu-fbY

 

http://www.youtube.com/watch?v=LA8R0l2NEX0 (5 minutes in for gold)

 

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... it is more of a pound story than a gold story. Gold is in a bit of a stand-off with the dollar at the moment.

 

I like to follow the gold price in sterling. Does anyone know why the real-time graph I've been using for a couple of years now only seems to work for about half the time -- it's been that way for a month or more.

 

It's this one: http://www.goldpreciousmetals.com/charts_historic_gbp.asp

 

Is there a good alternative?

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I like to follow the gold price in sterling. Does anyone know why the real-time graph I've been using for a couple of years now only seems to work for about half the time -- it's been that way for a month or more.

 

It's this one: http://www.goldpreciousmetals.com/charts_historic_gbp.asp

 

Is there a good alternative?

try this (in a new window, it resizes your current one if not!)

http://www.24hgold.com/english/interactive...lecom=valelivre

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I like to follow the gold price in sterling. Does anyone know why the real-time graph I've been using for a couple of years now only seems to work for about half the time -- it's been that way for a month or more.

 

It's this one: http://www.goldpreciousmetals.com/charts_historic_gbp.asp

 

Is there a good alternative?

http://www.bullionvault.com/gold-price-chart.do

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from DrB's Diary

GOT GOLD?

 

I just bought a bunch. (Is that called "paying the piper"?)

I'm still somewhat neutral, but I wanted a bigger position.

 

Just took $100K worth, thru the new PHYS / Sprott Physical Gold Trust : chart

 

I will add more Gold in some form on future dips.

 

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from DrB's Diary

Hi Dr B. If I remember right, you need 350-450 oz to take physical possession via Sprott. Is that right?EDIT: hmm. not sure. Don't think I like the look of it now!

I think the ability to obtain physical on demand is EXTREMELY important, but you know I am a bit of a bug.

Chris

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Would anybody else like to add the current position.

 

Mine of liquid assets is :- 10% gold 2% silver 88% sterling.

 

My liquid savings are 3.5 times my income stream.

 

 

Regards

 

ML

 

50% Gold. 15% Silver, 15% INR, 20%GBP.

 

Wife is all in Sterling, inspite of repeated advice to get it out into something else. How can I make her convert gbp?

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50% Gold. 15% Silver, 15% INR, 20%GBP.

 

Wife is all in Sterling, inspite of repeated advice to get it out into something else. How can I make her convert gbp?

 

 

leave her post-it notes on the fridge every MORNING with your assets gbp balance and her static gbp balance, hopefully she will think you are a trading god in a few months time!

 

 

Regards

 

ML.

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CME to change Comex gold, silver settlement procedure

 

Monday, February 22, 2010

 

 

NEW YORK -- CME Group Inc. will switch the procedure for settling Comex gold and silver futures to a method based on average price and volume rather than a specific price point, the exchange said Monday.

 

As of Friday, staff will settle the most-actively traded month of each contract at the volume-weighted average price -- which skews toward more heavily traded lots -- of outright trades on the CME Globex electronic trading platform. This is a change from the current method of settlement, where the lead contract month for gold and silver are settled to the midpoint of Globex trades during the settlement time range.

 

The settlement time periods are 1:29 p.m. ET-1:30 p.m. for gold and 1:24 p.m.-1:25 p.m. for silver.

 

If there are no outright trades during the settlement periods, the settlement price will be the best bid or offer in the expiring contract at the close of the market that is closest to the last traded price.

 

If there is no bid or offer in the expiring contract at that time, the settlement price will be implied from the bid/offer in the active spread at the close of the market, at the price that is closest to the last outright trade price in the expiring contract.

 

Contract months other than the active month will be settled by staff in conjunction with market participants based on spread relationships on CME Globex and the trading floor.

 

The greatest weight will be given to spreads traded in larger volumes later in the trading day, either on the trading floor or on CME Globex. In the absence of trading activity, spread bids/offers actively represented either on the floor or Globex will determine the settlements.

 

If there is insufficient activity to make the calculations, staff may rely on earlier data or other available market information to determine an appropriate settlement price.

 

If staff determine that anomalous activity yields results that are not representative of the fair value of the contract, staff may determine an alternative settlement price.

 

The changes will likely have little, if any impact on the market.

 

"It certainly doesn't seem like any big shake for speculators or users of the market," although it may have some bearing for commercial or other participants who take delivery of the metals, said Frank Lesh, broker and futures analyst with FuturePath Trading. Most participants do not take delivery from futures contracts. Rather they tend to roll positions they want to hold into farther forward contracts.

 

http://gata.org/node/8387

 

Can someone translate this latest rule change into English? I really can't get my head around this...

 

Just goes to show unfortunately that 'busting' the Comex is nothing but a pipe-dream when they change the rules mid-stream. And they use this so-called exchange when quoting the price of gold and silver. What a scam the Comex is. Still, I'm neither shocked nor surprised.

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We need rocket pictures urgently!

 

rocket.jpg

 

Will this do? - Chosen for the yellow tip.

 

No smoke. No flame.

 

It's only up a few dollars/oz. Why all the fuss? :rolleyes:

 

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rocket.jpg

 

Will this do? - Chosen for the yellow tip.

 

No smoke. No flame.

 

Nice rocket but no good without plenty of flames and smoke n stuff ....anyone got a match?

 

 

 

It's only up a few dollars/oz. Why all the fuss? :rolleyes:

 

Because my limited knowledge of trading says that was a breakout! I say its up and away from here on

 

 

<Edit> looking strong in sterling as well

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