Gold Price - Where is it heading?

GumbyLearner · 22 March 2011

There is a new buyer in the market.

http://www.ft.com/cms/s/cc350008-53...il/InboxLight.aspx?n=2009498268#axzz1HGgMye3T

DYOR

explod · 27 March 2011

http://www.thebull.com.au/articles/a/18575-gold-falls-as-investors-look-for-risk.html

Yet gold hit new intra day highs through the week and silver this week closed at a 31 year high.

Beats me.

Mr Z · 27 March 2011

5 of the last 6 days have been down in AUD terms. circa $40 AUD down.

explod · 27 March 2011

Mr Z said:
5 of the last 6 days have been down in AUD terms. circa $40 AUD down.

The article was addressing itself to the US$ situation.

The gains in gold and silver relative to our own currency has been a great ride over the last few years so do not really see your point.

Mr Z · 27 March 2011

You are Australian, gold has been essentially been ranging sideways for around a year in AUD and is well below June 10 highs of 1532... don't get too excited, this is not a strong market until it moves in AUD and other strong currencies.

explod · 27 March 2011

Mr Z said:
You are Australian, gold has been essentially been ranging sideways for around a year in AUD and is well below June 10 highs of 1532... don't get too excited, this is not a strong market until it moves in AUD and other strong currencies.

Who's getting excited. Have been invested in p/m's (physical in my own vault) since 05 and have followed the story since 04.

I do not bother with the short term. In the longer term gold and silver will continue to rise overall in all currencies. At the moment there is a lot of evidence to suggest that they are both about to break out into much higher territory and if silver goes beyond US$50 that will mean all currencies. A bit to go yet but it is up 100% since last August so could be on the cusp of it. So is worth bringing the topic it to notice IMHO.

Worth you having a good read over this thread Z.

Mr Z · 27 March 2011

explod said:
Who's getting excited. Have been invested in p/m's (physical in my own vault) since 05 and have followed the story since 04.

I do not bother with the short term. In the longer term gold and silver will continue to rise overall in all currencies. At the moment there is a lot of evidence to suggest that they are both about to break out into much higher territory and if silver goes beyond US$50 that will mean all currencies. A bit to go yet but it is up 100% since last August so could be on the cusp of it. So is worth bringing the topic it to notice IMHO.

Worth you having a good read over this thread Z.

LOL... yup thanks for the egg to suck! 05 eh? That makes you a Johnny come lately in my world. Oh jeeeeezzz.... BTW I make my living trading gold and silver.

Read the thread, hmmmm... NO THANKS... I have better ways to spend my time, been there done that.

Either way gold is 10% off its AUD highs of last year... this old girl needs to get out of bed an get moving.

explod · 27 March 2011

Mr Z said:
Either way gold is 10% off its AUD highs of last year... this old girl needs to get out of bed an get moving.

The Aussie dollar is up more than that so in the end it is all relative and as a tangible asset aussie physical is worth more in its purchasing power.

GumbyLearner · 1 April 2011

Still waiting for upside.

Mr Z · 1 April 2011

It feels like it wants to break up, very technical I know! I am running into more bearish commentary than bullish, ironically most of it saying there are too many bulls. In my world this favors the bullish outcome. I suspect it should be good through until May, possibly June but we do need to break out of these price levels soon. Breaking USD 1450 should invite a fresh round of buying, then we can hope for a better AUD result.

The commentary I am getting from the research boys suggests USD 1.10 AUD is possible here, not so good for AUD gold but we should be able to out run it. First technical targets are in the mid USD 1600's with further upside not out of the question. We will see what it looks like if we get there.

As for a top here and now, all I will say is it does not feel/look like a gold top to me.

sinner · 1 April 2011

Mr Z said:
not so good for AUD gold but we should be able to out run it.

Personally, happy for the AUD to keep AUDPOG flat or even down.

explod · 1 April 2011

sinner said:
Personally, happy for the AUD to keep AUDPOG flat or even down.

Probably will for some time but why?

explod · 2 April 2011

"Dan Denning: The gold price eased back to around $1,400 an ounce last week. But for ten years gold has gone up in pretty much every currency. You're starting to see talk that gold is now in a financial bubble, akin to the dotcom one. What's your take on that?

Greg Canavan: It's foolish, and pretty uninformed. A financial bubble is when greedy speculators buy something based on no fundamental reason...just on the assumption there will be a 'greater fool' to sell it to at a higher future price. Firstly it assumes that gold is over-owned. But if you look at the data it's still actually a very under-owned asset class. Eric Sprott of Sprott Asset Management makes the point perfectly. He cites from the Gold Yearbook 2010 that gold held by private investors in 1968 made up 5% of global financial assets. Last year, ten years into the recent gold boom, gold comprised just 0.7% of global financial assets. Most people don't own gold. It's that simple. You can't have a bubble in something until most people own it. I know the line of thinking you're referencing...the idea that gold has 'crossed over' into the mainstream imagination. But it hasn't. Gold is still decidedly fringe."

The emphsis is mine and you can read more at:-

ahttps://mail.google.com/mail/?shva=1#inbox/12f14758793ebb9f

With the US dollar index dropping below .76, oil also closing the week at US$108 and both gold and silver near to much higher territory(IMHO), the coming week could be interesting.

Mr Z · 2 April 2011

We are very near blast off or blow up time.... kinda makes you feel like a shuttle commander, don't it?

I still favour strength into May, maybe even June but we will see!

:

Bullion Money · 3 April 2011

Mr Z said:
We are very near blast off or blow up time.... kinda makes you feel like a shuttle commander, don't it?

I still favour strength into May, maybe even June but we will see!

:

I know what you mean with this. I get this feeling too especially with gold.

Next 2-3 weeks will be interesting.

boyley · 3 April 2011

Bullion Money said:
I know what you mean with this. I get this feeling too especially with gold.

Next 2-3 weeks will be interesting.

gold may head north but the strengthening Adollar will negate all gains

explod · 3 April 2011

boyley said:
gold may head north but the strengthening Adollar will negate all gains

Do not agree, since 2000 Aus gold is up 350%, since 2005 up 110%.

Gold will continue perform well against all currencies (as it has been doing) whilst governments everywhere continue to print money out of thin air and borrow beyond their means.

Mr Z · 3 April 2011

Bullion Money said:
I know what you mean with this. I get this feeling too especially with gold.

Next 2-3 weeks will be interesting.

Yes.... very, sooner I am thinking, like probably this week.

GumbyLearner · 9 April 2011

Really? Who would have known?

http://money.cnn.com/2011/04/08/markets/gold/?section=money_latest

I'm going down to my local cafe to selectively read the newspaper tomorrow morning.

Paradise

thankyou
GumbyLearner

Mr Z · 9 April 2011

It feels like the excitement phase is kicking in. Beware kids, too much excitement leads to exhaustion. The USD high number here could get a little ing.

Gold Price - Where is it heading?

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