Also much higher than it was at the start of this year:
http://www.nasdaq.com/symbol/gld/stock-chart
Looks bullish to me.
Printable View
Also much higher than it was at the start of this year:
http://www.nasdaq.com/symbol/gld/stock-chart
Looks bullish to me.
A triple top. Bad news I'd say.
Rally night. lol
You and Daytr need to get together and buy lotto tickets.
China, the country goldbugs reckon will rule the world.
Hahahaha, you gotta laugh!!!!
http://www.businessweek.com/articles...-smog#r=hpt-fs
Moose, I think tonight could be exactly that , rally night !
Wow that wasn't long after I posted its shot up $12!
http://www.news.com.au/finance/mark....-1226980070217
LONDON’S century-old gold price fixing, tainted by a rigging scandal and attacked by critics as old-fashioned, goes under the spotlight this week in key talks aimed at modernising the process.
Analysts said that the market price of gold, which is driven by investment and jewellery demand, could climb as a result of an overhaul.
Buyers and sellers of the precious metal will meet in London on Monday to discuss the setting of the global benchmark, which affects the flow of billions of dollars worldwide every day. The World Gold Council (WGC) will host an eagerly-awaited forum with retail and central banks, exchanges, mining firms, refiners, traders and other industry groups, while Britain’s Financial Conduct Authority (FCA) watchdog will attend as an observer. The benchmark gold price is set by four banks at 10:30am London time (0930 GMT) and 3:00pm, via teleconference.
The banks — Britain’s Barclays and HSBC, Canada’s Scotiabank and Societe Generale of France — are all members of the Gold Fixing Company and agree the price twice daily. Germany’s Deutsche Bank pulled out of the panel earlier this year.
The process begins with the so-called spot price of gold, which is based on the current market rate of contracts for physical delivery of the metal.
The four banks must then declare whether they are interested in buying or selling at this level. The price can fluctuate depending on the balance of supply and demand, and settles on a so-called “fixing”.
The system lurched into crisis this year when Barclays was fined more than 26 million ($45 million, 33 million euros) by the FCA after an ex-trader at the troubled bank admitted attempting to manipulate the gold price.
Barclays is among several banks fined billions of dollars by regulators for foreign exchange rigging, prompting a broad review of how global financial benchmarks are set.
Portugal now?
As I predicted, the Ukraine crisis was a storm in a teacup with Daytr predicting WW3.
I'm sure that it will come on the agenda again at some stage Moosie, sort of understand why they didn't want to change considering India's BOP. I would suggest that last nights spike in gold was more to do with this than what's going on in Portugal as Indian gold dealers had been destocking in case they did reduce the duty. Once it was realized their was no change they would have had to buy anyway.
Another gold flash-in-the-pan.
For the first time in years I've seen HELP WANTED signs in shop windows in a major US city. Despite the goldbug BS about employment figures being fiddled, the jobs are there.
Wow that was a real smackdown in gold. That sort of volume on both the European & US open suggests someone or a few hedgies more likely, took on the built up longs & forced liquidation getting very good bang for their buck. I was a bit concerned last week when gold broke through to $1345 only to close around $10 lower & really didn't have any momentum from that point. With longs seemingly exhausted they were sitting ducks. Gold will need to now settle & build again, however there may still be more damage to come yet. $1280 is possible target.
Gold moving as expected and according to plan
Nothing has changed just typical ongoing bull/bear fights events within a phase 1 Bull cycle...Cyclic Bull cycles can last for years, so the first phase can be a long process...
I have quoted my old post#7469 (3rd June 2014) above as it says it all and still very relevant to the "now".
I expect Gold to test 1280 support...depending on technical events closer to that time, 1280 maybe the next dip buy point?
SPDR GLD has increased to 808 tonnes, but the price has dropped $30, so there seems to be little correlation between the 2.