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1300 is the 200dma, my research was that if 1320 fell then short was the way ahead but I havent. There is too much bearishness. I fully expected to go sub 1300 if not close to 125x but now I am not so sure. I am not trading here but waiting to buy sovs.

RB, you still have an obvious bias, step back and just analyse the charts ffs without the emotion that you have about metal.

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GOLD

01/27/2011

16:41

1312.70

-33.40

-2.48%

This is starting to look like 1980 all over again. A few days of 1-2% losses with a building momentum. If we get some triple $ figure drops in the next 5 days it will be all over for gold for many years.

I think the psychology here is that given the worst period of financial turbulence the world has known and gold did not take off like so many thought. They have contained it to a degree sufficient to avoid an all out panic. Things may get rough but the system will remain intact.

It is clear very little buying on the dips is occuring now so watch out! If I had bought in after $1k I would be taking profits sharpish.

The stochastic top of $1374 may have been it (Elliottt wave point of retrenchment--averaged out)

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.....and you blew it

all you had to do was sit back, look at the charts and be analytical but that was too much to ask.

Now I am left with only one of two questions are you being paid to say these things or are you just massively biased ?

Show me some charts, show me some reasoning, explain why you think what you say, say something.....

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.....and you blew it

all you had to do was sit back, look at the charts and be analytical but that was too much to ask.

Now I am left with only one of two questions are you being paid to say these things or are you just massively biased ?

Show me some charts, show me some reasoning, explain why you think what you say, say something.....

Its all about opinion and how you assess market psychology. Gold is a very touchy subject and is driven moere by sentiment than cold analysis. The stochastic crowd predicted close to the top and I agreed with them for once.

Its all about momentum now--the Warren Buffett approach to investing. The question he would ask is: has the pendulum begun to swing in the other direction. The hype and herd mentality of late suggests it has.

But I wouldn't bet on it as anything can happen in this crazy market that is why I have steered clear of gold for years.

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I dont have the energy for this sh1t anymore. I have spent hundreds of hours learning and researching about the thing that I am most heavily invested in (over 40%) so am quite happy with what I do know and understand.

Look at when there was a gold standard. There were no gold bugs because there was no point in holding any. Going back onto a gold standard, far from being the wet dream of many gold bugs, would be nothing but bad news for holders like you and I.

And yes, I do know that we will never return to gold backed currency.

I never said that I advocated or want a return to a gold standard. I wouldn't say that cos I wouldn't advocate what would be the biggest gold market cornering in human history, leaving humanity in eternal debt to what will no doubt be one great big gold hoarding cartel and thier parasite offspring.

The dollar is toast. This is no secret. Whether it crash lands or plummets nose first into a mountain side is anyone's guess. When it happens. All economies across the world will suffer. Nobody can escape because everyone is holding these worthless IOU's and when they are widely recongised as worthless all economic activity will cease causing catastrophe. This is when gold will be utilised to back an 'international' currency, used by governments to back up thier own national/regional currencies. Of course, all the gold will be controlled by all the biggest parasites and the world will be indebted to them. This will be the keystone in the founding of a one world (digital) currency.

Look throughout history and all big consolidations of power come about in such way where an umbrella 'authority' shoots up and to most people, everything seems 'just the same', but the umbrella gradually changes the nature of everything beneath it.

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GOLD 01/28/2011 03:38 1313.60 -1.30

Another day and another lack of buying th dips.

Public psyche may be in hoard mode--depression coming need to keep what money we have for basics and NOT investments that COULD plummett.

There is a lot of fear in the market and unmet expectations for gold could be behind the recent downward spiral. But no crash yet. This will not happen, IMO, until the first triple digit losses happen in a single day. May be months away--anyone's guess really.

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This is starting to look like 1980 all over again. A few days of 1-2% losses with a building momentum. If we get some triple $ figure drops in the next 5 days it will be all over for gold for many years.

RB, RB me old fruit loop, why do you keep doing this to me?

(See sig.)

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RB, RB me old fruit loop, why do you keep doing this to me?

(See sig.)

LOL.

Before I invested in metals myself, I done quite a bit of research and found a great many expert that as far back as 2007 were predicting the end for Gold, then more in 2008, 2009, etc.

In the end, short of some insider knowledtge, knowing what the short term fluctuations for gold/silver will be is impossible to confidently predict. But looking into the long-term, the state of the world's dollar backed currency/asset system is all the indication that I need to know that Gold (and indeed all commodities) are going to end up being worth a great many more bundles of 'toilet paper' per ounce than they are today, regardless of any brutal 'corrections' or other market manipulaitons that may leave us feeling queasy in the gut.

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.....and you blew it

Now I am left with only one of two questions are you being paid to say these things or are you just massively biased ?

Show me some charts, show me some reasoning, explain why you think what you say, say something.....

He/it has spent four years posting news that should make Gold go up, yet he/it talks Gold down on every short term drop.

He/it also claims to know nothing about Gold but feels the need to troll at every opportunity.

How someone finds so much time to troll something they have no interest in I'll never know.

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Trouble in Egypt will be good for the price of gold.

An interesting view. If this is shared it suggests that goldbugs are looking for reasons WHY gold SHOULD go up despite market momentum. This is where Buffett says to be careful--his anaology of the pendulum is a good one and it does seem that the swing toward gold buying hit a frenzy in recent months (Tesco selling it, vending machines in Japan etc) as the pendulum moved toward its extreme. Then it started to fall back and the usual events are not helping stop the momentum, Egypt is a good example:

http://uk.finance.yahoo.com/news/Gold-slips-rally-Egypt-ETF-8-reuters_molt-3688992741.html?x=0

Gold slips after rally on Egypt, ETF at 8-month low
Lewa Pardomuan, 8:09, Monday 31 January 2011
SINGAPORE (
Reuters
) - Gold edged down in choppy trade on Monday, after posting its biggest gains in eight weeks in the previous session on the political unrest in Egypt, but buying interest in the physical market offered support and offset worries about declines in ETF holdings.
Silver was at a 1-week high, tracking gold's earlier gains. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings slipped to 1,224.118 tonnes by January 28,
its lowest since May of last year
.
Spot gold fell $1.05 to $1,337.25 an ounce by 07:24 a.m. British time, having earlier risen to around $1,345. Gold dropped to as low as $1,308 on Friday, its weakest since early October 2010, before reversing losses on safe haven buying related to the chaos in Egypt.
"We need to see the holdings in ETF start to increase before gold prices can head up and make a new high. Bullion holdings at ETFs are a reflection of longer-term demand for gold," said Ong Yi Ling, investment analyst at Phillip Futures in Singapore. "Recently, the holdings of gold ETFs have decreased due to optimism in the U.S. economic recovery. If concerns over jobs and unemployment come back to haunt us, then we could see the ETF holding start to increase again
U.S. gold futures for February fell $3.4 an ounce to $1,337.30 an ounce, having ended up nearly 2 percent on Friday......./
"I think the problem in Egypt could be resolved soon. If the U.S. is doing something, it will be solved. You can't have so much violence in so many days. But I think people will still want to buy gold on dips," said a dealer in Hong Kong.

Emotion and investing are not good partners. ETFs are a classic Ponzi mechanism and they may be the trigger for a broad based sell off. However, some may not share this view and they would be classified as gold bulls. It could go either way and I would say the markets generally are more unpredictable than at any other time in recent history. The trader quoted above remains optimistic about gold and would probably say that now is a good time to jump in as prices will rise due to pent-up demand and shortage of supply.

Edited by Realistbear
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Nothing unexpected as far as I am concerned, all proceeding nicely downwards.

TPTB let it rip on friday, they couldnt keep gold down against rising expectation of trouble and wouldnt risk holding over the weekend given what was going on.

Given the distinct lack of bodies an live rounds fired then the gold raid is back on.

edit ; dont forget non farm payroll on friday :D

Edited by richyc
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Not such a good start for the week despite Egypt and inflation fears rising in the EZ:

GOLD

01/31/2011

08:37

1326.70

-11.70

-0.87%

If we break below $1300 in the next few days we might start to see some more serious selling. Still a wait and see IMO as the lack of buyers on the dips is not hitting overall resilience as much as many would expect.

Just starting tio see a few bearish farticles to hit the net--they may cause some nervous holders to cash in and run but there will always be a few stalwarts who will hang on regardless:

http://uk.finance.yahoo.com/news/Why-gold-safe-yahoofinanceuk-1926013581.html

Why gold isn’t safe
Here are just some of the reasons why gold isn t likely to shine for most panic buyers...../
Edited by Realistbear
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Not such a good start for the week despite Egypt and inflation fears rising in the EZ:

GOLD

01/31/2011

08:37

1326.70

-11.70

-0.87%

If we break below $1300 in the next few days we might start to see some more serious selling. Still a wait and see IMO as the lack of buyers on the dips is not hitting overall resilience as much as many would expect.

Just starting tio see a few bearish farticles to hit the net--they may cause some nervous holders to cash in and run but there will always be a few stalwarts who will hang on regardless:

http://uk.finance.yahoo.com/news/Why-gold-safe-yahoofinanceuk-1926013581.html

Why gold isn’t safe
Here are just some of the reasons why gold isn t likely to shine for most panic buyers...../

We? Who's we?

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We? Who's we?

They are the "mob" who panicked in 1980 as gold peaked and then crashed never to regain its previous top (IA). If you could keep the mob under control and not panicking gold would keep on rising to infinity. The market is fickle but you can't beat it (them).

That said, I am reasonably certain gold will rebound somewhat before we see any further serious selling.

Richyc has a point though when he says:

QUOTE: Nothing unexpected as far as I am concerned, all proceeding nicely downwards.

Edited by Realistbear
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They are the "mob" who panicked in 1980 as gold peaked and then crashed never to regain its previous top

But why did they "panic". Why did gold fall in 1980? And are these reasons now repeating themselves?

C'mon RB, I need your advice here.

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Advice from RB? :ph34r:

Definitely, definitely. RB is always harking back to gold's (undeniable) downfall in 1980 and saying that it will happen again. I want to hear his account of why that is so and why he thinks gold nosedived thirty years ago.

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Definitely, definitely. RB is always harking back to gold's (undeniable) downfall in 1980 and saying that it will happen again. I want to hear his account of why that is so and why he thinks gold nosedived thirty years ago.

In the 1980's, gold became overvalued. Gold would have to be approx $3000 in todays money to match the 1980 high, but back then, the demand for gold was being predominantly only by the US, European, and Australian markets.......Also, the global financial markets weren't even nearly so hyper-inflated and toxic as they are today.

Also, I believe that the Fed under Paul Volcker raised base interest rates quite high, in order to bring the dollar back into line which had the knock-on effect of large amounts dollars leaving precious metals and going back to bond markets and subsequently stock markets.... (or so I have read).

Edited by Retardstic
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Also, I believe that the Fed under Paul Volcker raised base interest rates quite high, in order to bring the dollar back into line which had the knock-on effect of large amounts dollars leaving precious metals

Around 20% according to the film I.O.U.S.A. I can't see "Helicopter" Ben doing that these days.

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quiet today, is 20c down not enough for RB to break out the kleenex then :lol:

Quiet?

GOLD

02/02/2011

13:15

1329.90

-12.00

-0.89%

Egypt did not save it and the Eurozone have settled their debt issues so no more need for risk aversion. Or so they tell us.

BTW--if history repeats, gold may be due for another 1980 event. But I can't see it happening quite yet as these kinds of falls,1-3% in a day are nowhere near the level of selling that will mark the crash where gold will drop $100-$200 or more in a single session.

Jobs are the trigger for a HPC so what is the trigger for the gold crash?

Stock markets? Greed is building again.

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