R K Posted March 27, 2014 Share Posted March 27, 2014 Gaps filled, over enthusiasm taken out, rising trend intact until proven not to be. 1290/1300 is major support. Pivotal point right here. If wider mkt sell off continues this shld be +ve for PMs. Certainly, bonds suggest risk off continues. Good for PMs. Those who are short may wish to consider what they'll do if PMs start rising again bcos the next rise (if it happens) will be a doozy... Major sell off last 2 weeks. Will retrace a bit certainly. Major downtrend intact. Sub $1000 still for me. Late summer looking good. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 27, 2014 Share Posted March 27, 2014 Major sell off last 2 weeks. Where? I must have missed that. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 27, 2014 Share Posted March 27, 2014 Doesn't take much does it... You just made it for me. Well done. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 27, 2014 Share Posted March 27, 2014 Where? I must have missed that. Clearly. Not sure how. To fall $100 is a major sell off. GDXJ fell c 20%. How did you miss it? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 27, 2014 Share Posted March 27, 2014 Gold and silver to fall towards end of month as options expire then what? A short bounce of a week or two before back down to new lows lower than 2013. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted March 27, 2014 Share Posted March 27, 2014 Well, the COMEX figures for April stay stubbornly different to anything else seen for a long time.......and not a peep off the goldsheeple, who only seem capable of being set squawking after their guru leaders give them the cue. So far......silence of the goldsheeple. http://www.cmegroup.com/trading/metals/precious/gold_quotes_volume_voi.html ..._ Quote Link to comment Share on other sites More sharing options...
azogar Posted March 27, 2014 Share Posted March 27, 2014 Well, the COMEX figures for April stay stubbornly different to anything else seen for a long time.......and not a peep off the goldsheeple, who only seem capable of being set squawking after their guru leaders give them the cue. So far......silence of the goldsheeple. http://www.cmegroup.com/trading/metals/precious/gold_quotes_volume_voi.html ..._ can you decipher this for me please Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 28, 2014 Share Posted March 28, 2014 Appears to me PM falls ending here. Entirely normal to have happened in rally. 1180 to 1390 to 1290. 50% of the rise pullback. Headed 1500+. As thought as long ago as December. As I said Those who are short may wish to consider what they'll do if PMs start rising again. Of course they could always bang their keyboards with "But but but I'm right" and no doubt the market will take notice. Gaps filled, over enthusiasm taken out, rising trend intact until proven not to be. 1290/1300 is major support. Pivotal point right here. If wider mkt sell off continues this shld be +ve for PMs. Certainly, bonds suggest risk off continues. Good for PMs. Those who are short may wish to consider what they'll do if PMs start rising again bcos the next rise (if it happens) will be a doozy... Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted March 28, 2014 Share Posted March 28, 2014 (edited) Well I did promise to post a link to what the Bundesbank would be saying at the launch of the 'Gold Yearbook' from Jeffrey Christians CPM organisation. So here it is. http://www.kitco.com/news/2014-03-27/Bundesbank-Calls-Repatriation-Rumors-Utter-Nonsense-CPM-Christian.html ..._ Edited March 28, 2014 by DiggerUK Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 28, 2014 Share Posted March 28, 2014 Today's COTs will be interesting. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 28, 2014 Share Posted March 28, 2014 (edited) It would be interesting to compare the value of gold in the world to total world assets over time. Not sure if such a chart exists? I gather the current position is something like 8 trillion dollars of gold within a 225 trillion dollar worldwide asset base. Whether valuing gold at 3.5% of world assets is fair would need some historical perspective. Though I have been bearish on gold lately I would never like to underestimate the power of speculation in bidding stuff up in a world awash with cash. Bitcoin is a bit of a warning. Edited March 28, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
Errol Posted March 28, 2014 Share Posted March 28, 2014 Japanese Prepare For "Abenomics Failure", Scramble To Buy Physical Gold According to the FT, "Tanaka Kikinzoku Jewelry, a precious metals specialist, reported that sales of gold ingots across seven of its shops are up more than 500% this month. At the company’s flagship store in Ginza on Thursday, people queued for up to three hours to buy 500g bars worth about Y2.3m ($22,500). March has been the busiest month in Tanaka’s 120-year history." http://www.zerohedge.com/news/2014-03-28/japanese-prepare-abenomics-failure-scramble-buy-physical-gold Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted March 29, 2014 Share Posted March 29, 2014 Japanese Prepare For "Abenomics Failure", Scramble To Buy Physical Gold According to the FT, "Tanaka Kikinzoku Jewelry, a precious metals specialist, reported that sales of gold ingots across seven of its shops are up more than 500% this month. At the company’s flagship store in Ginza on Thursday, people queued for up to three hours to buy 500g bars worth about Y2.3m ($22,500). March has been the busiest month in Tanaka’s 120-year history." http://www.zerohedge.com/news/2014-03-28/japanese-prepare-abenomics-failure-scramble-buy-physical-gold A spike? In SEVEN shops? Right before they increase the consumption tax? Who'd have thunk it. Ginza is the Japanese Mayfair, btw Quote Link to comment Share on other sites More sharing options...
R K Posted March 30, 2014 Share Posted March 30, 2014 Clearly. Not sure how. To fall $100 is a major sell off. GDXJ fell c 20%. How did you miss it? +1 Quote Link to comment Share on other sites More sharing options...
Errol Posted March 30, 2014 Share Posted March 30, 2014 Yawn. $100 in the gold market is nothing. Nothing at all. No way anyone with any experience would refer to that as a 'major sell off'. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted March 31, 2014 Share Posted March 31, 2014 (edited) A First Glance At US Official Gold Reserves Audits "I probably missed this story because I didn’t have a blog when this came out in 2011, but apparently the official gold reserves of the United States are being audited every year. I thought the last audit was done in 1974, based on information from the mainstream and alternative media; darn media! Though I haven’t been the only one who has ever been misinformed on this subject. Ron Paul, who was a a well informed member of the US House of Representatives in 2011, proposed new legislation at the time to have yearly audits of the US official gold reserves" http://www.ingoldwetrust.ch/a-first-glance-on-us-official-gold-reserves-audits So writes Koos Jansen, one of the gatagoons favourites. He has been as sloppy with his past research as numpty Ron Paul ever was. But he at least puts most of the relevant details in this begrudging 'mea culpa' It has taken a while to go through all his links, but it is mostly all there. Audits that go back nearly as far as the US gold confiscation itself in the 1930's. They include such gems as all the bar numbers with details of their weights, purities, which 'deep storage' facility they are in, and so forth. Facts and figures that old Digger has regularly reported on. Facts that show Ron Paul up for the complete numpty he was.....why was he trying to introduce legislation to make them do what they already did? And before anybody asks....yes I do accept the audits as honest, and the figures as true. It is just impossible to accept a conspiracy to secretly sell, or remove, gold from 'deep storage' with the complete silence of thousands of state employees, decade after decade. ..._ Edited March 31, 2014 by DiggerUK Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 31, 2014 Share Posted March 31, 2014 Yawn. $100 in the gold market is nothing. Nothing at all. No way anyone with any experience would refer to that as a 'major sell off'. You're right. 20% off GDXJ is very minor. FFS! Quote Link to comment Share on other sites More sharing options...
JPJPJP Posted March 31, 2014 Share Posted March 31, 2014 I have no position now, last long was stopped out for peanuts I am interested to watch the price action here with a view to establishing a long if the price doesn't dip through 1250 before showing signs of a reversal Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted March 31, 2014 Share Posted March 31, 2014 Investors also initiated a gold rush over the weekend, hoping to reap short-term profits by purchasing the precious metal ahead of the 3 percent jump in prices. The retail price of gold fell to 4,590 yen per gram this week, down from 4,769 on March 14. A spokesperson for Tanaka Kikinzoku said that approximately 200 people a day have been coming to the jeweler’s flagship store in Ginza to buy gold – 500 gram ingots sell for 2.3 million yen ($22,360). What an amazing gold rush. Hyperinflation here we come http://thediplomat.com/2014/03/shopping-sprees-gold-rush-ahead-of-first-japanese-sales-tax-hike-in-17-years/ Quote Link to comment Share on other sites More sharing options...
Errol Posted March 31, 2014 Share Posted March 31, 2014 You're right. 20% off GDXJ is very minor. FFS! I don't consider GDX, GDXJ or any other modern instruments to be 'the gold market'. Physical bullion is all that matters. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted March 31, 2014 Share Posted March 31, 2014 ........ Physical bullion is all that matters. http://goldprice.org/gold-price-uk.html Common sense with a side order of reality comes in handy as well. Denying a sell off with a 6% dip in a little over two weeks show that prices, and demand, for physical is down. ..._ Quote Link to comment Share on other sites More sharing options...
wherebee Posted March 31, 2014 Share Posted March 31, 2014 Well somehow I managed to time this one right and made 20% on GDXJ by selling near the top. Now.....to jump back in or not? Unfortunately just stuck a bit into russkie ETFs as a lot of people seemed over fearful to me.... Quote Link to comment Share on other sites More sharing options...
Errol Posted March 31, 2014 Share Posted March 31, 2014 http://goldprice.org/gold-price-uk.html Common sense with a side order of reality comes in handy as well. Denying a sell off with a 6% dip in a little over two weeks show that prices, and demand, for physical is down. ..._ Totally irrelevant. Physical bullion is all that matters. A price drop just means more physical for fewer bits of paper. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted March 31, 2014 Share Posted March 31, 2014 (edited) Totally irrelevant. Physical bullion is all that matters. A price drop just means more physical for fewer bits of paper. You are still dancing around your handbag. Your stunning observation that you pay "fewer bits of paper" when the price drops is a revelation to nobody. The price drops when demand from sellers to sell, is stronger than the desire of buyers to buy. If you can't accept that, then please let us all know why the price just dipped so dramatically. Posting eclectic nonsense is a daft thing to do when I'm about. ..._ Edited March 31, 2014 by DiggerUK Quote Link to comment Share on other sites More sharing options...
weaker Posted March 31, 2014 Share Posted March 31, 2014 The price drops when demand from sellers to sell, is stronger than the desire of buyers to buy. ..._ naive fool... lol. Quote Link to comment Share on other sites More sharing options...
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