bitbigt Posted May 28, 2009 Report Share Posted May 28, 2009 Yeah, but for how long? For instance, I wouldn't want to be sitting on pounds waiting for lower gold prices. "how long?"... Well at least the next several months. But my best guess overall is - Sterling -- vs CHF (which I'll need to change my GBP money into), about 1-2 years -- vs gold, at least 6 months, and perhaps 2 years - Aussie -- vs gold, at least 2 years (as will continue strengthenning as recession ends and commodities come back into demand) "I wouldn't want to be sitting on pounds waiting for lower gold prices"... Really? So if you had spare cash in GBP you'd be buying gold at these levels? Link to comment Share on other sites More sharing options...
romans holiday Posted May 28, 2009 Report Share Posted May 28, 2009 "how long?"... Well at least the next several months. But my best guess overall is - Sterling - vs CHF (which I need to change my GBP money into), about 1-2 years - vs gold, at least 6 months, and perhaps 2 years - Aussie - vs gold, at least 2 years (as will continue strengthenning as recession ends and commodities come back into demand) "I wouldn't want to be sitting on pounds waiting for lower gold prices"... Really? So if you had spare cash in GBP you'd be buying gold at these levels? I noticed at another site some Aussies are waiting for gold to dip to near $1000 [now at 1200 odd]. I think this is unlikely. If gold dips it is likely to be on the back of forced liquidation in near everything. This would weaken all commodity currencies, and I would add "riskier" ones such as the pound. If the market carries on upwards over the summer, gold is likely to remain strong and track it as the only thing driving this trade is the potential [in the minds of investors] of future inflation. Also, QE has effectively put a floor of sorts under gold. Silver is a different kettle of fish. Would I be buying gold with pounds at these levels? Depends on how much of my liquid worth was in pounds. If most of it [and I was without a decent position in gold] I would buy with half of those pounds and then consider further buying on a possible dip. If I already had a good position in gold, I guess I could afford to be a fussier buyer. Link to comment Share on other sites More sharing options...
ziknik Posted May 28, 2009 Report Share Posted May 28, 2009 If only... It might happen one day Link to comment Share on other sites More sharing options...
dietcolaaddict Posted May 28, 2009 Report Share Posted May 28, 2009 Would it be best if gold corrected a little now - rather than try for $1000 again in an overbought state. I'm thinking gold may have more chance of holding four figures if it breaks through in a few months time when seasonal trends are more favourable. Link to comment Share on other sites More sharing options...
Mr Pipples Posted May 28, 2009 Report Share Posted May 28, 2009 Willie - on one... Hitmen Contracts to Bust COMEX - http://news.goldseek.com/GoldenJackass/1243519200.php It has come to my attention that several private parties have accepted contract assignments to neuter the COMEX and London Metals Exchange, to render ruin to its gold market. Lordy! Well, don't know about all that - but I do know I'm thinking the odds of me hedging against another round of deleveraging by selling 1/4 of my silver for $ being a good choice are seeming less favourable... Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted May 28, 2009 Report Share Posted May 28, 2009 Willie - on one... Hitmen Contracts to Bust COMEX - http://news.goldseek.com/GoldenJackass/1243519200.php Lordy! Well, don't know about all that - but I do know I'm thinking the odds of me hedging against another round of deleveraging by selling 1/4 of my silver for $ being a good choice are seeming less favourable... what pete waterman is gonna sort them out Link to comment Share on other sites More sharing options...
Pixel8r Posted May 28, 2009 Report Share Posted May 28, 2009 Would it be best if gold corrected a little now - rather than try for $1000 again in an overbought state. I'm thinking gold may have more chance of holding four figures if it breaks through in a few months time when seasonal trends are more favourable. Gold isn't currently in an overbought state, check the RSI. Trader dan notes this today on his latest. http://jsmineset.com/wp-content/uploads/20...ld1230pmcdt.pdf For the right shoulder to complete on cue we are looking at a break through $1000 in the second week of June. Then we will be off to the races Link to comment Share on other sites More sharing options...
GatheringStorm Posted May 28, 2009 Report Share Posted May 28, 2009 what pete waterman is gonna sort them out Yeah, with help from Stock and Aitken. Link to comment Share on other sites More sharing options...
Mr Pipples Posted May 28, 2009 Report Share Posted May 28, 2009 Yeah, with help from Stock and Aitken. Don't forget... Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 28, 2009 Author Report Share Posted May 28, 2009 Looks as if we are on the way to $1,200-$1,300 now. As for Turdling, it should go back on its way to under $1.00 now that it has briefly sniffed air in the $1.60 region. Silver could go to 40:1 or 35:1 with gold if this is the next major leg up. Don't sell any, don't trade any. You got to be in it to win it. Link to comment Share on other sites More sharing options...
Compounded Posted May 28, 2009 Report Share Posted May 28, 2009 Looks as if we are on the way to $1,200-$1,300 now. As for Turdling, it should go back on its way to under $1.00 now that it has briefly sniffed air in the $1.60 region. Silver could go to 40:1 or 35:1 with gold if this is the next major leg up. Don't sell any, don't trade any. You got to be in it to win it. Understand the fundamentals --> be with them. IMO fundamentals are the whole system now is a huge Ponzi scheme - government finance, pensions, equities, bonds, banking and the paper money itself; get out hold money and wait. Give it time, we may need to wait a long time Gold is the only solid, tangible real money (it's value even survives civilization collapse) = you will emerge with purchasing power preserved and then you will have all about selling anything and eveything very cheaply because they have lost so much to the greatest Ponzi scheme in history. Silver - risky - it's an industial commodity now but it may perform as money again in extremis if it does it will be a real winner and holding a bit makes some sense. Ag like Pd Cu Pt Pb and a long list of rather useful other metals cannot be money in the recognized sense there is now too little reserve above ground. Simply the bond holders cannot run to Ag there is not enough of it; they can run to gold. Link to comment Share on other sites More sharing options...
Catflap Posted May 28, 2009 Report Share Posted May 28, 2009 I can't say I've been a fan of Robert Prechter as some of his predictions seem absurd, but I've signed up to Elliot Wave International to read his free 40-page Gold and Silver ebook. I was alerted to it via the Market Oracle newsletters, titled 'Gold and Silver Warning' Details here if any of you want to download it: http://www.elliottwave.com/club/gold-silve...aspx?code=32544 Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 Gold now over $970. Gold will be 'done' once it is north of $6,000/oz, but only if no hyperinflation occurs. And this is a big IF. Link to comment Share on other sites More sharing options...
Pixel8r Posted May 29, 2009 Report Share Posted May 29, 2009 I can't say I've been a fan of Robert Prechter as some of his predictions seem absurd, but I've signed up to Elliot Wave International to read his free 40-page Gold and Silver ebook. I was alerted to it via the Market Oracle newsletters, titled 'Gold and Silver Warning' Details here if any of you want to download it: http://www.elliottwave.com/club/gold-silve...aspx?code=32544 Prechter has been a bear on gold since gold was below $400 in 2003. When is he going to change his mind, when it's over $1000 a 60% gain that he missed. I really don't think he is worth bothering with. This is Bob Prechter's statement on gold, in its entirety: "No one wanted gold at the February 2001 low, when it was $255/oz. Since it rose above 360, it has been in demand. The hype in the gold market is tremendous, and even local newspapers talk about it. Gold has been losing momentum for several months. It has reached the low 400s, the upper end of our target range for this wave pattern, as cited in the October 3, 2003, issue of EWT. Commercials, typically savvy players, hold a record short position in gold." Link to comment Share on other sites More sharing options...
nicejim Posted May 29, 2009 Report Share Posted May 29, 2009 2.72% up to the big one, 2.47% up from this time yesterday Link to comment Share on other sites More sharing options...
bitbigt Posted May 29, 2009 Report Share Posted May 29, 2009 2.72% up to the big one, 2.47% up from this time yesterday Don't count your chickens... http://www.moneyweek.com/investments/preci...-one-14788.aspx Link to comment Share on other sites More sharing options...
Mr Pipples Posted May 29, 2009 Report Share Posted May 29, 2009 FX Universal Offers Spot Gold and Silver Trading in Addition to Forex - http://www.emediawire.com/releases/2009/05/prweb2470844.htm Monetary Metals, anyone? Link to comment Share on other sites More sharing options...
nicejim Posted May 29, 2009 Report Share Posted May 29, 2009 Don't count your chickens... http://www.moneyweek.com/investments/preci...-one-14788.aspx Pah! Frizzers obviously didn't read the Jim Willie article Link to comment Share on other sites More sharing options...
warpig Posted May 29, 2009 Report Share Posted May 29, 2009 I wish we could paint the same picture in GBP. Gold now over $970. Link to comment Share on other sites More sharing options...
Pixel8r Posted May 29, 2009 Report Share Posted May 29, 2009 UDSX 79.56 OIL 66.20 GOLD 975.00 SILVER 15.57 Dollar meltdown continues Link to comment Share on other sites More sharing options...
dietcolaaddict Posted May 29, 2009 Report Share Posted May 29, 2009 Gold isn't currently in an overbought state, check the RSI. Trader dan notes this today on his latest. http://jsmineset.com/wp-content/uploads/20...ld1230pmcdt.pdf For the right shoulder to complete on cue we are looking at a break through $1000 in the second week of June. Then we will be off to the races Cheers Pix. I know this has been asked before - can anyone recommend a good online resource or book for learning about RSI, MACD etc. I've tried before but found the online explanations a little variable and contradictory. Link to comment Share on other sites More sharing options...
LauraB Posted May 29, 2009 Report Share Posted May 29, 2009 Indulge me guys Thinking aloud, with a cash stash in goldmoney .....(& any thinking beyond gardening is struggle I can do without). Is this really happening, or is it just mind games by the manipulators? Gold has to be 'controlled' & the easiest time to do it & show the proles that it's a no-no is when volume is light? So maybe the team will allow the POG to go over 4 figs for once & then really murder it? I ask these daft Qs as I was thinking how tempting dollar is, & then I thought why bother if the team are going to hit gold hard (which surely they must? do this year?) Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted May 29, 2009 Report Share Posted May 29, 2009 I wish we could paint the same picture in GBP. give it a week or so edit: when's HMG's next debt auction then? Link to comment Share on other sites More sharing options...
romans holiday Posted May 29, 2009 Report Share Posted May 29, 2009 Indulge me guys Thinking aloud, with a cash stash in goldmoney .....(& any thinking beyond gardening is struggle I can do without). Is this really happening, or is it just mind games by the manipulators? Gold has to be 'controlled' & the easiest time to do it & show the proles that it's a no-no is when volume is light? So maybe the team will allow the POG to go over 4 figs for once & then really murder it? I ask these daft Qs as I was thinking how tempting dollar is, & then I thought why bother if the team are going to hit gold hard (which surely they must? do this year?) I think it makes sense to be mostly in gold/silver while at the same time holding a decent reserve in US dollars as a hedge in case gold corrects. Buy with your reserve on the correction if/when it comes. Link to comment Share on other sites More sharing options...
ziknik Posted May 29, 2009 Report Share Posted May 29, 2009 ... edit: when's HMG's next debt auction then? £2bn on Tuesday £3.5bn on Wednesday http://www.dmo.gov.uk/reportView.aspx?rptC...uction_Calendar Link to comment Share on other sites More sharing options...
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