Gold

[elZorro]

The very recent drop in US$gold may be simply due to traders taking profits here, to make up for AAPL losses and margin calls.

http://www.ino.com/blog/2013/01/gold...f-the-week-24/

If that's the case, TA charting says it'll move higher off this level.

[skid]

I think you'll see gold take a dive when John Paulson lodges his 13F filings soon.

Here's his last year's gold stock picks.

AU -41%
NG -55%
GFI -32%
GOLD -17%
IAG -53%

There's a rumour circulating that the recent weakness in gold is because Paulson's selling. If it's true it'll become public knowledge soon, then plenty of punters will rush for the exits.

The other major gold punter is George Soros and it was reported 28/12/12 that Soros had big bets on these ETF's.

For the last year:

XME -20%
GDX -26%
GDXJ -37%

Gold indexes are all plumbing new lows.

Are there any rumors around that explain why the equities market is doing so well?
Im getting a bit nervous

[Skol]

The S&P500 has more than doubled since 2009.
Home sales are up.
Unemployment is down.
More money is going into equities than at any time in the last 5 years.
Europe hasn't crashed.
The USD hasn't crashed.
No hyperinflation.
No fiscal cliff disaster.
Low interest rates.
75% of the companies in the USA that have reported this qtr have beaten profit projections.
$55 billion went into mutual funds and ETF's in January, a record.

etc. etc.

It's all good, long may it last.

[Skol]

ASX booming today but XGD down 2.5%.

[skid]

The S&P500 has more than doubled since 2009.
Home sales are up.
Unemployment is down.
More money is going into equities than at any time in the last 5 years.
Europe hasn't crashed.
The USD hasn't crashed.
No hyperinflation.
No fiscal cliff disaster.
Low interest rates.
75% of the companies in the USA that have reported this qtr have beaten profit projections.
$55 billion went into mutual funds and ETF's in January, a record.

etc. etc.

It's all good, long may it last.

inShare

NEW YORK (TheStreet) -- Gold prices were popping Wednesday after a surprising contraction in U.S. gross domestic product pushed investors back into the safe-haven asset. Gold prices gained 0.48% on Tuesday.

[Skol]

inShare

NEW YORK (TheStreet) -- Gold prices were popping Wednesday after a surprising contraction in U.S. gross domestic product pushed investors back into the safe-haven asset. Gold prices gained 0.48% on Tuesday.

Looks like a non-event, nothing goes up or down in a straight line. The engine's flamed out and the moonshot is off.

[skid]

Dont get to trigger happy with that nail gun Skol,until your sure which coffin you've got. LOL

[Skol]

Gold takes a $20 hit, not sure why, but not at all surprised, meanwhile equity markets are up and away and have been for months and in the case of the DJIA, for 4 years.

The January Barometer is positive for stocks. The rationale is that if stocks are up in January they'll finish up for the year, only failed 7 times since 1950.

[elZorro]

China looks to be the world's biggest consumer of gold, ahead of India for 2012. A 94% increase in net gold imports to a record annual high. A lot of gold is flowing in and out of China through Hong Kong, but overall, gold is being stored or used there. These are bullish indicators, as the average wage for Chinese workers increases 12-15% p.a. They buy gold during the Chinese New Year, on at the moment.

http://www.bloomberg.com/news/2013-0...igh-in-12.html

[skid]

http://www.kitco.com/reports/KitcoNe...interview.html