Who's looking to Short GOLD???

Gold continues to rise. The fundamentals are driving gold: weak dollar and inflation concerns. Saw a report by Standard Bank expecting prices to rise another 8% this year. I see gold at $1,100 with the combination of solid fundamentals, Barrick gold unwinding its hedges and technicals that will continue to drive gold up.
 
Although gold looks like it is at a high price when comparing in dollars, gold remains well below last year’s high when priced in pounds, euros, yen or Swiss francs. September is typically the best month for gold and having now crossed the $1,000 barrier again, it could gain momentum from increased exposure and mind-space for investors. Interesting article in today’s WSJ as well saying the price of gold has traditionally been equivalent to that of one high-quality men’s suit. Maybe a little silly, but worth a read.
 
Tiger21Invest said:
Although gold looks like it is at a high price when comparing in dollars, gold remains well below last year’s high when priced in pounds, euros, yen or Swiss francs. September is typically the best month for gold and having now crossed the $1,000 barrier again, it could gain momentum from increased exposure and mind-space for investors. Interesting article in today’s WSJ as well saying the price of gold has traditionally been equivalent to that of one high-quality men’s suit. Maybe a little silly, but worth a read.
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I was reading that article in WSJ journal as well. I see gold heading higher, but would prefer the media obsession to die down a bit in order for that to happen. Here's an article that shows gold priced in EUR and AUD How Valuable is Gold? , scroll towards bottom of the page.
 
Jason Rogers said:
I was reading that article in WSJ journal as well. I see gold heading higher, but would prefer the media obsession to die down a bit in order for that to happen. Here's an article that shows gold priced in EUR and AUD How Valuable is Gold? , scroll towards bottom of the page.
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Gold could see $950 in short order. I am long USD and building a position under 77.
 
Buying gold on every pullback. Up today for the first time in four days. Still expect the dollar to be weak and investors to seek safety in the typical store of value: GOLD. Taking a look at the ETFs, gold is at or within a percent of the record high holding amount. In spite of the IMF’s approved sale of 403.3 metric tons (value of $13 billion) just the other day, gold price remains strong. In spite of the 38% decrease in gold consumption in India, gold price remains strong. Long gold. Buying on every pullback.
 
Tiger21Invest said:
Buying gold on every pullback. Up today for the first time in four days. Still expect the dollar to be weak and investors to seek safety in the typical store of value: GOLD. Taking a look at the ETFs, gold is at or within a percent of the record high holding amount. In spite of the IMF’s approved sale of 403.3 metric tons (value of $13 billion) just the other day, gold price remains strong. In spite of the 38% decrease in gold consumption in India, gold price remains strong. Long gold. Buying on every pullback.
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Gold will head much lower by the end of next week unless geopolitical forces intervene.
 
A lower dollar is generating further interest in gold. The dollar declined against 13 of 16 major currencies yesterday. Barclays Capital forecast gold may continue to make new highs stating, “We maintain a bullish bias for gold, expecting a test and break of the all-time high with potential for higher levels still into year-end.”
 
trader_dante said:
Good luck on Gold. I believe we will be taking out 1032 in the cash in the not too distant future.

I would expect a pullback first though with 990 being the first obvious area to look for longs.
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What's your timing on this Tom, is your 'action' set by where you see resistance?
 
I tend to agree with this analyst quote, “The dollar and risk sentiment will continue to lead gold in the coming sessions well placed to set fresh highs.” Another analyst said, “Gold remains well supported. The support is even more noteworthy given crude oil’s slide yesterday.” Investor interest remains strong as ETFs continue to receive strong inflows of money. Additional tailwinds to price of gold: Pictet & Cie, Switzerland’s largest private bank, will start a fund backed by physical gold next month in an attempt to help its investors protect against inflation.
 
N Rothschild said:
you would think yeh, last spike up got me while i was out..son of a bitch
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At around 13:00? Annoying. After that it fell like a stone didn't it. (I wasn't in, either way). Been shadowing gold via AUD/USD (long) on and off (less margin required than gold), although with relatively short-term trades, buying dips and then getting out when it runs out of steam. Had some hairy drawdowns on occasions but fortunately no bad spikes.
 
dollar wasnt looking very strong this morning so pulled my stops in...then the us came in and sold the **** out of everything!
 
trader_dante said:
No. What gives you that idea?
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I think he was referring to the fact that you trade pins, there was a pin in gold and it failed - So he assumed you lost money... I suppose it could be the case that your not disciplined and don't take your own setups.

Or maybe, your intuition told you not to take the trade despite it being one of your setups. One the other hand, maybe it, by your rules, wasn't a setup at all... Which makes me wonder why you would post it in the first place ?

It just seems a bit.... Weird maybe? Post the setups you take or don't. Don't post the setups you normally take afterwards that happens to be a loser and say that you didn't take it - That just seems weird to me.
 
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