Gold - is it going down?

[younga]

Is gold going down? What do you chaps think? A TA view would be deeply appreciated.
If memory serves me correct, with the recovering US economy, money would be switching out of gold and into the US economy ...

[The Realist]

If the assumption is made that history repeats itself, gold did rise in US$ terms during 1993, only for the price of gold to later stabilize for almost a decade, once the Federal Reserve realized that the US economy was overheated (hence the bond crunch of 1994).

Over here in Sydney, there has been a lot of talk in the media about Oz Gold Stocks, but those days may be drawing to a close. Gold normally only rises during times of uncertainty in the US market, and once statistical evidence comes out of an improved unemployment rate in that economy, gold may fall although the US dollar may also become friendly again.

[nelehdine]

Back above $400 on Friday in NY on weaker than expected jobs data. Gold stocks up 4/5/6pct so expect a strong market in Aussie today.

Disc: Hold Kingsgate,Newmont,Newcrest and Goldcorp ( Canada ) Total val approx NZ$30k

[nelehdine]

Nice move the last couple of days to 406.50 region ... most market commentators saying market looks technically excellent ... expecting new highs over coming week/months. BRING IT ON !!!

[draffthorse]

Awaiting the next wave in a bull market.

While fundamentals suggest the US dollar will decline further, there were no signs that the G7 have stepped in to stop the decline.

All goes well for gold/silver.

Be patient!

[nelehdine]

Great rally in Newcrest today ... Telfer mine is going to totally change this company. Stock may have had a stellar rise over the last 12mths but from my reading of the future of the company and this particular gold deposit ... we ain't seen nothing yet !! NCM +36 to 1209

Disc: Bgt NCM last week at 1124

[nelehdine]

Gold back above $410 ... hit 7 week highs last night. Greenspan saying he doesn't see any major problems with $ falling even further. Gold shares in NY up 1-2pct ... blue sky ahead and I get the feeing this could be a major opportunity to make some decent cash in big-cap gold stocks over the next few weeks.

Disc: Own KCN,NEM,NCM and GG ( NY listed )

[miner]

Hi Nel a few goldies look a bit stronger this week,Japan etc will be buying greenbacks flat out,canny do it for ever tho.

Cheers
Miner

[nelehdine]

AU up in Tokyo trading to $412/413 region ... seems a "given" that the metal will hit new highs soon given Greenspan's apathy towards another round of heavy Dollar selling. Could $450 be on the cards before the end of the first quarter !! Fingers crossed !!