midnight*trader
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still a uptrend so i'm still long ,could see price touching $700 in a month or two.
Hoggums
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Agreed, once gold breaks upwards others will get on board driving the price upwards. I would expect to see $800 next year.
trader_dante
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It was clear to me that when it broke $675 it was going to hit $680.
Next stop is $688.
But $700 will wait to wait a little longer.
Next stop is $688.
But $700 will wait to wait a little longer.
midnight*trader
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trader_dante
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Consider yourself paid.
😉
Right, this is going to hit $700 - there is no doubt about that. I expect consolidation at this level (although I could be wrong about that on these impulse moves)
Either way, I was long from $675 and chose to offset for now.
I will look to get back in on a price action setup (on daily timeframe) at a retest of $688 or even $680.
trader_dante
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catracho
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TWI
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I agree that it is not just dollar strength. There has been Macro buying coming in and it is interesting to see how much OI declined in Gold but more importantly Silver during the recent turmoil when anybody who had been in the market a few years would have expected Gold to rally as a safe haven buy and been dissapointed with the result. However, gold came under the same position reduction regime as everything else when margin was required to fill losses elsewhere. Now we are past that and not only are there commercial hedge book buy backs but base metals have also shrugged off their bearish veneer today on the back of the China figs and copper was up 300$ so catapulting precious. Rumours abound of Chinese buying and most of the banks tell me there has been plenty of fund buying going on with Silver potential greatest for explosive upside after the huge sell off in Aug.
No doubt in my mind, money is here but have to await the dips to get long. I traded precious for many years and buying strengh has never been the best bet. Wait for those brief, hard dips and then get involved. There is plenty of upside left in these markets.
No doubt in my mind, money is here but have to await the dips to get long. I traded precious for many years and buying strengh has never been the best bet. Wait for those brief, hard dips and then get involved. There is plenty of upside left in these markets.
Atilla
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I read somewhere the Saudi's breaking rank with the US and not lowering interest rates. I think they a pissed at the value of the dollar.
If they start dumping dollar the worlds end is near...
I suppose people in the know will buy lots of gold before dumping the dollar. If I was Chineese at least that's what I'd do.
Anybody else worried about Israeli strike on Suriye. I'm hearing talk of Nuclear bits and bobs supplied by Korean or Iran. That would be very bad news.
TWI you are trully the man with the midus touch. Well done 😀
Atilla
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You mean one of these?
Why not come and join me at Hyde Park speakers corner?
Open your ears and I'll show you the light...:cheesy:
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midnight*trader
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wow now this is what you call a gold rush😈
TWI
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"hyperinflation"..well this should be interesting..I'm going to be amazed at how a contracting money supply is going to chase prices up.... or is it the assumption that the first line institutions after the current shock are just going to say ..back to business as usual...property interest free..no deposit down...anyone at all apply ? ...leaverage /reserves ratio no problem.
Are punters with virtually no savings and stagnant capital growth to draw on just going to say we don't care max the credit card out...but hold on who's going to give them a new limit and where's the collateral ,is it growing again magically ?
My take is lending money just got the grand daddy of a shock ...there's going to be more stringency on what is loaned out...regulators are going to be all over this and CEO's will protect their arses becasue they might be in the spotlight next..which will reduce the moneyflow...well below previous levels...borrowers are going to to try to save money at a greater rate than in recent times and this will reduce the demand for money ....this is a contracting process that signals sellers are going to have to chase buyers down for their money. That is virtually the direct opposite of hyperinflation and much more reminiscent of what happened in Japan at the end of the 80's than it is in relation to the 70's.
If I am right then after this process works through would be a good time to get hot for commodities again.
Just like to try a different view to Mr Faber as I am beginning to sense he is a product of his time...that is in the half full half empty context I think he's biased to what he lived through in the 70's ,or perhaps I just misunderstand what timeframes he is talking about .
Are punters with virtually no savings and stagnant capital growth to draw on just going to say we don't care max the credit card out...but hold on who's going to give them a new limit and where's the collateral ,is it growing again magically ?
My take is lending money just got the grand daddy of a shock ...there's going to be more stringency on what is loaned out...regulators are going to be all over this and CEO's will protect their arses becasue they might be in the spotlight next..which will reduce the moneyflow...well below previous levels...borrowers are going to to try to save money at a greater rate than in recent times and this will reduce the demand for money ....this is a contracting process that signals sellers are going to have to chase buyers down for their money. That is virtually the direct opposite of hyperinflation and much more reminiscent of what happened in Japan at the end of the 80's than it is in relation to the 70's.
If I am right then after this process works through would be a good time to get hot for commodities again.
Just like to try a different view to Mr Faber as I am beginning to sense he is a product of his time...that is in the half full half empty context I think he's biased to what he lived through in the 70's ,or perhaps I just misunderstand what timeframes he is talking about .
