GOLD BULLS...........ROARING AGAIN?
Jump to Page:
< Previous [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] [ 8 ] [ 9 ] Next >
Posted on: 04-11-11 10:05:46
MCX GOLD 28000
Gold started its up move from Aug 2011 from 22965 made a high of 28744 in Sep 2011.
A valid correction followed which happened to be steep ,and corrected to 24992.
A consolidation period followed in 25000-27000 range for about one month and again Gold surged up ward to 27875 on 27 Oct 2011.
After a minor corrective Gold has recently crossed 27875 and is trading above 28000.
The volumes and the trend indicator suggest a possibility of strong up move.
Four instances of higher bottom support the up move possibility.
A pattern breakout has already taken place and total move can be expected for 3400 Rs.
Some profit booking may happen at previous high and at around 30000 levels.
An up gap in next week may fuel the up move and it can greatly increase the momentum of the up move.
Supports are at 27200--27000--(26835-26513).
Strong momentum up move will not breach 27200 before testing 30000.
-----------------------------------------------------------------
mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Quote:
Originally posted by captainbeam
Quote:...and yet gold is down.
Originally posted by ashedfc
MF Global files for bankruptcy today... the first casualty of European Sovereign Debt.
while Europe and been crashing and burning in the last couple of months, inspite of all that uncertainity, gold has been going down since its high few months ago.
while US debt rating was downgraded, instead of shooting to the moon, gold was down.
i see no further reason to be bullish on gold.
the party is over, best to leave early, go home and sleep, instead of waiting for the cops to arrive and a nasty hangover
Do you still feel the same captainbeam?
-----------------------------------------------------------------
mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Are you guys noticing how gold is slowly becoming a proxy for currencies and equities?
A couple of years back during the financial crisis, say 2008 - 2009, when equities and bonds would crash, gold would go up.
It was a hedge against uncertainities and equity markets.
Even earlier this year, gold moved in the other direction of equities and currencies.
However, since this summer, gold moves with equities.
Only the USD and US Treasuries are moving counter to equities and other currencies.
Now, equities are priced in fiat currencies (USD, CAD, etc.)
To me, this indicates that gold is starting to function as a proxy for fiat currencies.
But the USD is still functioning as the safe[r] haven.
I'm not a gold bug but I think it is interesting how gold is functioning as a proxy for currencies when it comes to valuing equities and debt.
I see the upside capped until the USD devalues further (through stimulus) or it loses its reserve currency status.
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Market Nuggets: TD Securities: 'Woeful U.S. Fiscal Situation' Could Benefit Gold
16 November 2011, 3:01 p.m.
By Kitco News
http://www.kitco.com/
(Kitco News) - Gold could benefit as the spotlight returns to the “woeful U.S. fiscal situation,” says TD Securities. Days away from its deadline, it appears that a bi-partisan congressional committee will not be able to agree on deficit-reduction measures. Law dictates that no agreement would mean automatic spending cuts and tax increases, although “nothing is all that automatic or simple in U.S. budget politics over the longer term,” TDS says. Thus, there is a risk that the deficit keeps growing. The U.S. dollar has benefited lately from flows into the Treasury market during Europe’s sovereign-debt crisis, holding back gold, TDS says. “This may all change if the U.S. budget ‘supercommittee’ fails to agree on credible ways to cut the U.S. deficit,” TDS says. “The risk of massive U.S. deficits for years to come may very well take the shine off the U.S. dollar and prompt investors to buy gold as the ultimate hedge.”
-----------------------------------------------------------------
mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Quote:
Originally posted by ashedfc
Gold is the ultimate money....
G20 asking for German Gold
US may confiscate European Gold (via IMF), (most of it is already stored in a vault in Lower Manhattan) http://www.youtube.com/watch?v=giv9RouoM6M&feature=share
Greece problem still unresolved & the attention now is turning onto Italy (keep in mind Italy is too big to bailout, with the existing money; which means oceans of money will be printed or the world goes into a long depression... which is next to impossible in a fiat based electronic currency system, where money is just a few electronic digits on the computer).
Central banks will add those digits in trillions & trillions all over the world. This will cause (its already happening) dilution of existing currency. Inflation is the result of the dilution.....
the only way one can protect from this dilution is to stay in those assets which cannot be manipulated/ printed - "GOLD"
Its still the same ounce of Gold but now you need sooo much money to buy it (Gold has not gained, iis still the same, money has lost value)
This rally it seems Gold is going to $2000 by christmas or early new year...
Again I would repeat "Do Not chase a rally- Just buy the dips" It has a long long way to go...
After Italy, its Spain, than France, than UK, than several states of US, than Japan, thereafter the mother of all US itself..
& before this whole episode plays out... the possibility of a major war is still open in the middle east Isreal/ UK/ US vs Iran (& its nuclear allies). http://tv.globalresearch.ca/2011/11/uk-us-israel-threaten-war-iran
Libya's case has just encouraged the case for war mongering (watch out Syria in the next 3-6 months).. Its all mind game to divert attention from the Sovereign bankruptcies in the western world.
Is there any possibility that gold may lose its charm again as it did in 1980-2000 period. It was record high in 1980 (around $850) and record low in 2000 (around $250)? What is the probability that it won't happen again.
Quote:yep, how much more evidence do you need?
Originally posted by peacock1
Do you still feel the same captainbeam?
US can't get a debt deal done, europe is falling apart, there is literally blood on the streets (again) in mena.
and where is gold?
yep, it's sliding again.
where is all the money going? into the US dollar.
you may want to keep some gold as a inflation hedge, but stop believing in the end of the world doom and gloom forecasts.
for those that bought above $1900 there is still time to get out with relatively small losses.
this thing is headed back to $1600, then $1200, then $1000 and eventually settling back at the $800 level where it was before the financial crisis began.
how long that will take I can't say.
sorry to be the anti gold bug here but I just don't see how gold can keep going up forever like this.
Gold is now sitting below $1600 for the first time since the summer.
I have been telling this for many weeks/months now.
if you haven't gotten out, do so ASAP. this thing is headed back down to $1200 soon.
do not buy into all this doom and gloom predictions by those that are profiting from it.
if you bought above $1700 get out now before you lose more money.
if you bought at or below $1600 start getting out now.
