Gold Price - Where is it heading?

[reallysure]

thanks guys i thought so...doesn't take that quick to recover at these times....listening to the old timers they think its the worse they have been in and i do have the feeling gold will still be strong a few years more or even stay at a balanced gold price like all other commodities...just what i have heard thats all.

[Southern X]

The five week gold trend is down. Which, in conjunction with seasonality, should be expected, natural, and with the exception of 2008, normal.

I'm not trying to pick the bottom of this dip, just take advantage of the buying opportunities it provides. We'll see what the markets think of the eurobank stress tests later (reminds me of primary school when every kid got a gold/silver star in their workbooks).

Also curious to see will be the effect of options expiring this week. A couple of posts prior suggested new US legislation will clean up the COMEX trade/contract structure. I hope so, but I don't trade on hope; time will tell.

As for gold going to USD500 to 600, the only upside here would be having sold your gold stocks north of gold USD1000, then buying back BIG. Because if it's in that low range the move up -- spike aside -- is near a triple. Add a spike and that quarter acre block is paid for, and the next one, and the...

SX

[GumbyLearner]

The crooks need it bad.

http://dandenong-leader.whereilive.c...-in-dandenong/

A SPATE of gold thefts over the past month in Greater Dandenong has sparked a police warning to residents.

Detective acting Sgt Dean Marchant said the burglars focused on electronic equipment and gold, possibly due to its strong market price.

“They appear to be targeting jewellery - in particularly gold

[Buckfont]

Quote: Originally Posted by GumbyLearner The crooks need it bad. http://dandenong-leader.whereilive.c...-in-dandenong/ A SPATE of gold thefts over the past month in Greater Dandenong has sparked a police warning to residents. Detective acting Sgt Dean Marchant said the burglars focused on electronic equipment and gold, possibly due to its strong market price. “They appear to be targeting jewellery - in particularly gold

[GumbyLearner]

Quote: Originally Posted by Buckfont I`d say this more to do with junkies and the like feeding their habit, as opposed to the AU price going up.

[Buckfont]

Quote: Originally Posted by GumbyLearner You could be right. Pawn shops are definitely no place to sell gold unless your desperate. But looks like a spate of burglaries. So if that were the case, then surely fabricated jewelry items would likely have been spotted by now. TV's, DVDs, Stereos all depreciate in value though...I suppose gold can too like 10 years ago.

[reallysure]

GumpyLearner your spot on!

Pawnshops and Second Hand dealers are a no go....go to bullion places...there are a few around any city your from:-)

Cheers

[Ageo]

Quote: Originally Posted by reallysure GumpyLearner your spot on! Pawnshops and Second Hand dealers are a no go....go to bullion places...there are a few around any city your from:-) Cheers

[reallysure]

nice 0.1% is not bad:-)

[explod]

Quote: Originally Posted by Ageo Hey dont knock all 2ndhand dealers........... just 99.9% of em

[Ageo]

Quote: Originally Posted by explod From my trading in physical but more (pleased to say) accumulation it is coin dealers for me. I'm with you Ageo, your steady counsel over the last four years on PM's has always been spot on. Now,,, do not take umbridge at this Gumby, you are very correct on pawn shops and those cheats buying jewelry at shopping centres are scum in my view.

[Southern X]

Ah, sweet drop.

This week is tough if one is if you're holding. For those who sold (I sold PRU) it's a waiting game to buy back in or find something else (REEs, eg. ALK, which also has plenty of gold).

The charts suggest a buy around the $1140 support, make sure it's tested; or confirmation of a solid break-out, $1225. Option expiry week doesn't help, again, depending if one is in or out.

Happy hunting! (I've got a few in my sights, hope you do too).

SX

[sinner]

Quote: Originally Posted by explod From my trading in physical but more (pleased to say) accumulation it is coin dealers for me. I'm with you Ageo, your steady counsel over the last four years on PM's has always been spot on.

[Ageo]

Wow im actually really glad i could have been of assistance to some on this forum.

Here is something i bought the other day

620gram 9ct dog chain, its interesting when people need to sell they scrap all sorts of things.



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[reallysure]

cool:-)

if anyone tells me there is confidence in europe please shoot me...take a look at Greece at the moment..chaos in tourism time...gold will definitely go way up if it keeps on going and spreads....

http://www.youtube.com/watch?v=IuIEaI_MnxI&feature=fvsr

http://news.theage.com.au/breaking-n...728-10vsy.html

http://www.boston.com/news/world/eur...rike_collapse/

http://greece.greekreporter.com/2010...eneral-strike/

[reallysure]

Over US2,000oz by next year?

Check out The Vulcan Report(part 1 and 2)

http://www.youtube.com/watch?v=MdAhsrRuUR8

http://www.youtube.com/watch?annotat...tcc&feature=iv

[explod]

Quote: "On the cusp of a parabolic rise up"

[sinner]

Quote: Originally Posted by sinner The red line shows support I am interested in. I exit my gold shorts here because really, I don't like being short gold. I would prefer to take a short position on silver if we go below support on the weekly, as there is some fundamental aspect of that trade - silver still being a strongly industrial commodity.

[Ageo]

Quote: Originally Posted by sinner Re the above chart and post. We do not know where the gold price is heading, but we do know gold close the week and month above 1180. I feel 1250 shorts were closed at an appropriate spot. Glad I did not make the attempt to chase price lower for now. As mentioned, I can always chase downside using silver for better backing fundamentals, if I feel to go short again. For now just patiently waiting to see what's going to happen - don't need to be in every single market swing. Attachment 38167

[electronicmaster]

Federal Reserve to start the deflation fight next week, expert claims well see more reports on that next week I think.

'Gold price to cross $4,000/oz'