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Thread: Gold

  1. #4051
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    Quote Originally Posted by Skol View Post
    Break-out or bull trap?
    Definitely a breakout: this is what triggered the dollar drop and gold/silver spike: three weeks after the FED meet, they publish their minutes. That date was overnight, 22nd August. The FED is seriously considering something like QEIII, and they promise it will be economically, not politically, related. They're gathering data on whether there is enough improvement to hold off.

    http://online.wsj.com/article/SB1000...jemalertMARKET

  2. #4052
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by elZorro View Post
    Definitely a breakout: this is what triggered the dollar drop and gold/silver spike: three weeks after the FED meet, they publish their minutes. That date was overnight, 22nd August. The FED is seriously considering something like QEIII, and they promise it will be economically, not politically, related. They're gathering data on whether there is enough improvement to hold off.

    http://online.wsj.com/article/SB1000...jemalertMARKET

    A big boost to the markets smart move by the obama team before the elections as to why there've prob held off ....sad fact is they'll like many countries will have to continue till inflation can devalue the massive growing unfunded liabilities....either that or major depression of their economy
    Last edited by JBmurc; 23-08-2012 at 07:12 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #4053
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    It's all speculation, demand for gold worldwide is plummeting and demand in India is a big fat zero. What's that mean to the trained mind JB?

  4. #4054
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  5. #4055
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    Quote Originally Posted by Skol View Post
    Break-out or bull trap?
    Hi Skol
    A bit like asking if its a car or transport. Anyway, it depends on the time frame you are lookin at and it looks like a breakout to me

    The chart looks ok in Oz money too.

    Bit of a double bottom
    Uptrend has been excellerating
    Blown through resistance that held over the last 3 months
    Close to passing through the trend line down from the previous high a year ago
    Has risen 7 days in a row.

    If it was a stock I would have slapped it in the Breakout thread
    Attached Images Attached Images
    Last edited by STRAT; 27-08-2012 at 10:47 AM.

  6. #4056
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    Cool breaking out to the next trading range......>>>

    au0365nyb.gif

    IMHO I think we'll see Gold make another move on the 1800 resistance before the years out
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #4057
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    JB,

    Draw a straight line, doesn't look like a breakout to me. A big, descending triangle, probably will breakout to the downside.

  8. #4058
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    No, that's a breakout all right Skol, and the Republicans are openly considering a return to the gold standard..

    http://www.mineweb.com/mineweb/view/...7680&sn=Detail

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    Quote Originally Posted by elZorro View Post
    No, that's a breakout all right Skol, and the Republicans are openly considering a return to the gold standard..

    http://www.mineweb.com/mineweb/view/...7680&sn=Detail
    Yes, I was waiting for that EZ. It's all poppycock, a sop to the Ron Paul fans, a Tea Party vote buy. It'll all come to nought, it's all been done before, in 1985 I believe.

  10. #4060
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    Quote Originally Posted by Skol View Post
    Yes, I was waiting for that EZ. It's all poppycock, a sop to the Ron Paul fans, a Tea Party vote buy. It'll all come to nought, it's all been done before, in 1985 I believe.
    SKOL- "the king of delusional views on Gold's ever imminent crash" ...fact is for once I agree no way can the US uphold a gold standard just too much debt too little gold in the coffers ...for one a full backing of USD to Gold would either mean the US would have to buy over 6 times more gold that it's believed to be held(no audits in recent times) or have the Gold re-priced to $10,000 and that would only be for the current US debt position at present ....then.include all unfunded liabilities --- times that amount by another 6-7 times !!! so yes in no way can the failed 40yr fiat reserve currency plan go back to be backed by gold etc ....maybe cattle ...wheat ..corn etc
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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