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21-08-2013, 07:02 PM
#5251
![Quote](images/misc/quote_icon.png) Originally Posted by JBmurc
I here it has been reported by some gold analysts that JP Morgan is now long gold and silver on Comex"
Yeah, probably on KWN or Silverbear cafe. lol
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21-08-2013, 07:11 PM
#5252
JP Morgan have openly stated they are bullish gold & its a buy. I did hear that they were short silver tho, not sure if that last part is accurate as the the gold call was from their own publication whereas the silver position was 2nd hand. Lets be honest the banks have generally called gold pretty badly in recent years & imo have lost a lot of intellectual capital in recent years in commodities anyway. The quality of their research is generally pretty poor. Barclays aren't too bad & Goldmans have their moments. Goldman used to be the commodity guru especially in gold as they saw so much of the flow particularly hedge fund & central banks.
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21-08-2013, 07:39 PM
#5253
Let me get this right!
Goldbugs, who hate JP Morgan, are saying buy gold because JP Morgan say buy gold.
Correct?
Shouldn't goldbugs be selling? They've been telling anyone who'll listen that JP Morgan were shorting gold all the way to $1,920.
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J.P. Morgan slashes 2013 metals forecasts
By Sara Sjolin | MarketWatch – Tue, May 28, 2013 5:20 AM EDT..
.LONDON (MarketWatch) -- Analysts at J.P. Morgan Cazenove on Tuesday lowered the price forecasts for most metals, including cutting the outlook for gold in 2013 to $1,595 an ounce from $1,745 expected previously. In the short term, the analysts slashed the gold outlook 18% to $1,450 in the second quarter, while lowering the 2015 forecast by 5% to $1,650 an ounce. The copper outlook for 2013 was cut 4% to $3.50 a pound, or $7,707 per tonne from $8,032 per tonne expected previously. For silver, the 2013 forecast was cut to $27.89 an ounce from $30.01. Gold for August delivery lost $8.60 to $1,379.20 an ounce in Tuesday's trade, while Silver for July dropped 23 cents to $22.27 on ounce. July copper added 1 cent to $3.31 a pound.
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Last edited by Skol; 21-08-2013 at 07:53 PM.
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22-08-2013, 02:34 PM
#5254
There is sooo much wrong with what you have said there Skol. So no you didn't get it right haha.
1) I'm not a gold bug & don't believe in conspiracy theories. 2) All I was saying was that JP Morgan have gone bullish gold as it was up for debate. Quite frankly the banks have been terrible at calling gold so on one count you may be right, maybe we should be looking to sell as JP could be a reverse indicator. The banks views blow in the breeze from all directions with little conviction imo. Interesting night with gold oscillating. Its Thursday night which is usually rally night so we may see a good crack at $1400. Well that's about as scientific as some of the banks research I see!
[QUOTE=Skol;423084]Let me get this right!
Goldbugs, who hate JP Morgan, are saying buy gold because JP Morgan say buy gold.
Correct?
Shouldn't goldbugs be selling? They've been telling anyone who'll listen that JP Morgan were shorting gold all the way to $1,920.
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22-08-2013, 04:34 PM
#5255
"A good crack at $1,400"
lol Daytr, hope you've got a plan in place for fending off angry clients.
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23-08-2013, 12:14 PM
#5256
Cheer up Skol, that was a bit nastyl... I'll take a 1.5% rally. And at least that's 1.5% is in the up direction not down as you would favor. Portfolio up 5% this morning so pretty happy about that as well so, no I won't need to be dealing with unhappy clients, quite the opposite in fact. Happy Friday all!
Gold does have a fair bit of work to do to break above near term resistance so wouldn't be surprised to see a short term pull back, although the way things are hotting up in the Mid/East that could also be a catalyst for a spike higher.
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23-08-2013, 06:40 PM
#5257
Ron Paul, the gold juniors dude, and champion of the gold standard has his assets distributed accordingly:
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Paul's investment portfolio is dedicated almost solely to hard assets, with 64 percent in gold and silver miners, 21 percent in real estate and 15 percent in cash.
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Is he still solvent? lol
A former politician who should've stuck to delivering babies.
http://www.cnbc.com/id/100978321
Last edited by Skol; 23-08-2013 at 06:49 PM.
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24-08-2013, 08:43 AM
#5258
Skol, you'll be pleased to note that Gold has bolted upwards by nearly $30 to look like resting just under $1400 on Friday, during US trading. Buy stops were exceeded, and that pushed in onwards. The catalyst was a (lower than expected) new home sales report, which must have come out at 10.00 EDT.
Good details in this Kitco note.
http://www.kitco.com/news/2013-08-23...Next-Week.html
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25-08-2013, 05:15 AM
#5259
Yes great move in gold and silver even better of late
"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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25-08-2013, 09:02 AM
#5260
and dont forget copper that has gone back up 10% recently
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