Pixel8r Posted November 10, 2008 Report Share Posted November 10, 2008 Ker's pennant pattern is still valid and direction is still unconfirmed, and time is running out!!!. Target down is circa 550 , if it breaks above i have a target range between 814-825 $762.50 now, we appear to have broken the pennant to the upside. Is the short squeeze starting early? Link to comment Share on other sites More sharing options...
gwizzie Posted November 10, 2008 Report Share Posted November 10, 2008 $762.50 now, we appear to have broken the pennant to the upside. Is the short squeeze starting early? circa 775 is my next target (38.2) and if it breaks you may see tears of joy from a grown man Link to comment Share on other sites More sharing options...
kernull Posted November 10, 2008 Report Share Posted November 10, 2008 we topped for today , this week will be all down in everything and up on the dollar, the big downday should be tomorrow. Link to comment Share on other sites More sharing options...
gwizzie Posted November 10, 2008 Report Share Posted November 10, 2008 we topped for today , this week will be all down in everything and up on the dollar, the big downday should be tomorrow. good while it lasted. looks like we might finish around 742 Link to comment Share on other sites More sharing options...
kernull Posted November 10, 2008 Report Share Posted November 10, 2008 7, 6, 5. Countdown aborted http://www.marketoracle.eu/Article7208.html good find, however my buy area for silver (this week or earlier next week) is at 7.60 , because (10+5)/2=7.50 (half distance) ... and this guys targets 6.00 , will have to study more on that one, so far channels show 6 is difficult to reach on current trend, but nothing will suprise me on these markets Link to comment Share on other sites More sharing options...
rachss Posted November 10, 2008 Report Share Posted November 10, 2008 Really volatile markets.. It'll be interesting to see.. which way Gold goes. MusT SAY..Cg's Bottom is holding on as well. good find, however my buy area for silver (this week or earlier next week) is at 7.60 , because (10+5)/2=7.50 (half distance) ... and this guys targets 6.00 , will have to study more on that one, so far channels show 6 is difficult to reach on current trend, but nothing will suprise me on these markets Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted November 10, 2008 Report Share Posted November 10, 2008 Really volatile markets.. It'll be interesting to see.. which way Gold goes. MusT SAY..Cg's Bottom is holding on as well. Link to comment Share on other sites More sharing options...
POTATOES Posted November 10, 2008 Report Share Posted November 10, 2008 Does any body know what just happened to the gold 6 month lease rate? It appears they're paying you to lease gold. Would this have any thing to do with the potential Comex default? Hmmmmmm...... Found this article interesting. http://seekingalpha.com/article/100677-mis...gold-could-rise If I understand it correctly, the wider the spread between libor and lease rates, the greater the chance of a price spike. Or have I misinterpreted that? Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted November 11, 2008 Report Share Posted November 11, 2008 Does any body know what just happened to the gold 6 month lease rate? It appears they're paying you to lease gold. Would this have any thing to do with the potential Comex default? Hmmmmmm...... Found this article interesting. http://seekingalpha.com/article/100677-mis...gold-could-rise If I understand it correctly, the wider the spread between libor and lease rates, the greater the chance of a price spike. Or have I misinterpreted that? I noticed this too and the fact that the negative rate materialised on a Saturday of all days and was only available for a brief length of time, suggests that someone important sees a low in the gold price around May next year. Could be wrong of course, though I doubt it, as it looks somewhat underhanded to say the least... Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 11, 2008 Report Share Posted November 11, 2008 I suggest: Gold Lease Rate 101 http://www.greenenergyinvestors.com/index.php?showtopic=4481 Link to comment Share on other sites More sharing options...
FWIW Posted November 11, 2008 Report Share Posted November 11, 2008 From http://www.hindu.com/thehindu/holnus/015200811091201.htm Right time now to invest in gold, say experts Chennai (PTI): Even as Prime Minister Manmohan Singh has assured that the top priority of his government is saving investor's confidence in the wake of the weak performance of the stock market, experts say it is the right time now to bet on gold when it comes to investment. "Many investors lost heavily on the equities and it also seems to be a threat in the real estate market. Now it is high time for people to invest in gold, which is the best return on investment option," World Gold Council Vice-President K Shivaram said. Gold is considered a liquid asset and investing in that would be wise because its value always increases with time, he added. India is the largest importer and consumer of gold in the world. Indian gold consumption is between 700-800 tonnes a year, which is 25 per cent of world consumption. South India constitutes about 40 to 50 per cent of the country's total consumption. Link to comment Share on other sites More sharing options...
bdon Posted November 11, 2008 Report Share Posted November 11, 2008 Do you want me to delete your account ? sorry Link to comment Share on other sites More sharing options...
warpig Posted November 11, 2008 Report Share Posted November 11, 2008 It goes very quiet on this thread when the POG goes down... Link to comment Share on other sites More sharing options...
azazel Posted November 11, 2008 Report Share Posted November 11, 2008 It goes very quiet on this thread when the POG goes down... shhhhhhhhh........ Link to comment Share on other sites More sharing options...
marceau Posted November 11, 2008 Report Share Posted November 11, 2008 It goes very quiet on this thread when the POG goes down... Agreed. I know a lot of people won't want to hear this, but I can't see gold going up again significantly for many months and I'm expecting further declines just before Christmas. Not that this will make any difference to the price of a physical ounce (so I'll keep drip feeding in that department), but I think it could be wise to start building a good cash pile in the meantime. I would expect to get some good stink bids on commodity shares just before Xmas, particularly if we've had another sell off before then. If prices are further down I think the old end of year tax bargains game could be extremely profitable. Any thoughts for another end of year tax bargain list, Bubb? Link to comment Share on other sites More sharing options...
huntergatherer Posted November 11, 2008 Report Share Posted November 11, 2008 Kitco today - 'Failure to Launch'(!) by Jon Nadler Sold off large portion of Ag yesterday for 14% profit before costs. (buy low sell high) Ag going down. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted November 11, 2008 Report Share Posted November 11, 2008 Does any body know what just happened to the gold 6 month lease rate? It appears they're paying you to lease gold. Would this have any thing to do with the potential Comex default? Hmmmmmm...... Found this article interesting. http://seekingalpha.com/article/100677-mis...gold-could-rise If I understand it correctly, the wider the spread between libor and lease rates, the greater the chance of a price spike. Or have I misinterpreted that? this was a comment posted at the bottom: The formula Brian mentions in his article is Lease Rate = LIBOR – GOFO. He therefore assumes that the amount that can be earned from the gold carry trade is the lease rate. However, that same formula can be restated as GOFO = LIBOR – Lease Rate. Which rate is the amount that can be earned from the gold carry trade? Regrettably for Brian, it is GOFO, not the Lease Rate. How can I be so sure? Well when I worked in the Perth Mint’s Treasury and we borrowed gold, we were charged the Lease Rate, not GOFO. But don’t take my word for it. I quote from a booklet titled “A Guide to the London Bullion Market” issued by the London Bullion Market Association (who you would think would know what they are talking about): “Forward rate = Dollar interest rate – metal lease rate” Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 11, 2008 Author Report Share Posted November 11, 2008 Does any body know what just happened to the gold 6 month lease rate? If you follow this chart regularly you will soon realize that they screw up quite often. Lot of bugs in their software etc. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 11, 2008 Author Report Share Posted November 11, 2008 It goes very quiet on this thread when the POG goes down... Do you feel a particular need for company when the price goes down? Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted November 11, 2008 Report Share Posted November 11, 2008 Agreed. I know a lot of people won't want to hear this, but I can't see gold going up again significantly for many months and I'm expecting further declines just before Christmas. Not that this will make any difference to the price of a physical ounce (so I'll keep drip feeding in that department), but I think it could be wise to start building a good cash pile in the meantime. I would expect to get some good stink bids on commodity shares just before Xmas, particularly if we've had another sell off before then. If prices are further down I think the old end of year tax bargains game could be extremely profitable. Any thoughts for another end of year tax bargain list, Bubb? I wish it would get cheaper in £ (not too much!) so I can add to the physical, but as these graphs show (1, 5, & 20yr), the price of au in fiat £ ain't getting cheaper! http://www.goldpreciousmetals.com/charts_historic_gbp.asp Link to comment Share on other sites More sharing options...
marceau Posted November 11, 2008 Report Share Posted November 11, 2008 I wish it would get cheaper in £ (not too much!) so I can add to the physical, but as these graphs show (1, 5, & 20yr), the price of au in fiat £ ain't getting cheaper! http://www.goldpreciousmetals.com/charts_historic_gbp.asp Strange isn't it? Despite all that's happened gold is sat in pretty much exactly the same place as it was at the start of the year in £ terms (for larger quantities of gold only, coins and small bars are, of course a different matter). I've been looking to buy a kilo gold bar or two and I think I may just take the plunge right now. I haven't a clue where the £ is going, and to be honest I don't think it matters, pretty much every currency is going to be worth a hell of a lot less in a year's time. Link to comment Share on other sites More sharing options...
FWIW Posted November 11, 2008 Report Share Posted November 11, 2008 POG has been going sideways for far too long. Silver on my pnf chart getting squeezed at 9.5 to 10 level. I feel that the fundamentals are bad(well actually very bad), so I think silver will like gold move down. Again, I am staying out of this carnage and am especially waiting for 15th nov...son of bretton woods... Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 11, 2008 Author Report Share Posted November 11, 2008 POG has been going sideways for far too long. Silver on my pnf chart getting squeezed at 9.5 to 10 level. I feel that the fundamentals are bad(well actually very bad), so I think silver will like gold move down. Again, I am staying out of this carnage and am especially waiting for 15th nov...son of bretton woods... Link to comment Share on other sites More sharing options...
electroweak Posted November 11, 2008 Report Share Posted November 11, 2008 I've been looking to buy a kilo gold bar or two and I think I may just take the plunge right now. I haven't a clue where the £ is going, and to be honest I don't think it matters, pretty much every currency is going to be worth a hell of a lot less in a year's time. Good luck, Marceau.. AFAIK there ain't any (except at Tulving, if you're in the USA)! Link to comment Share on other sites More sharing options...
wheelybin Posted November 11, 2008 Report Share Posted November 11, 2008 ...I know a lot of people won't want to hear this, but I can't see gold going up again significantly for many months and I'm expecting further declines just before Christmas... I haven't a clue where the £ is going, and to be honest I don't think it matters, pretty much every currency is going to be worth a hell of a lot less in a year's time. Hi Marceau, Those two statements seem to be a bit at odds with one another. Currencies worth a hell of a lot less would suggest gold worth a hell of a lot more, in fiat terms at least. Link to comment Share on other sites More sharing options...
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