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25-08-2013, 02:00 PM
#5261
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25-08-2013, 05:58 PM
#5262
Yep another great night for gold, really want to see gold break above $1420 before getting too excited. With the ETF selling seemingly completed (well at least for now) & Asia still buying, gold could be in for another big run. The US data has been mixed in the last week or two also adding to the equation. Gold stocks outperforming gold as expected & should see more on Monday following on from gold's performance on Friday night. Portfolio closed up 12% on Friday, be pretty happy to see similar again, but that's probably pushing it...
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25-08-2013, 07:34 PM
#5263
Originally Posted by Daytr
Yep another great night for gold, really want to see gold break above $1420 before getting too excited. With the ETF selling seemingly completed (well at least for now) & Asia still buying, gold could be in for another big run. The US data has been mixed in the last week or two also adding to the equation. Gold stocks outperforming gold as expected & should see more on Monday following on from gold's performance on Friday night. Portfolio closed up 12% on Friday, be pretty happy to see similar again, but that's probably pushing it...
Daytr I would say the appearance of EFT selling being completed is just that---appearance. Gold has just gone up IMHO because of Egypt but especially Syria. Politics and uncertainty of outcome.
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25-08-2013, 09:58 PM
#5264
Moosie, as far as I'm aware Soros bought call options in gold juniors when he sold out of his gold posi. So he was long gold juniors. If he did go short he would be down a truckload as gold juniors have shot up double digits in recent weeks.
Not sure Mid/East has had that much impact on gold although it is a contributing factor. Stock markets have been taking a breather & some of the US data has been less convincing of late which I think has more to do with it & of course shorts covering.
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26-08-2013, 07:28 AM
#5265
Originally Posted by Daytr
Moosie, as far as I'm aware Soros bought call options in gold juniors when he sold out of his gold posi. So he was long gold juniors. If he did go short he would be down a truckload as gold juniors have shot up double digits in recent weeks.
Not sure Mid/East has had that much impact on gold although it is a contributing factor. Stock markets have been taking a breather & some of the US data has been less convincing of late which I think has more to do with it & of course shorts covering.
Shorts covering Daytr, do you mean banks like JP Morgan Chase? Equedia had this item on the weird NASDAQ trading halt, probably caused by rapid trading in AAPL as it dropped below the magic $500 a share. Further on it shows JP Morgan buying up Comex gold in a big way.
http://www.equedia.com/the-truth-beh...m_medium=email
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26-08-2013, 12:18 PM
#5266
elzorro, I just meant the speculative market generally. Everyone was so bearish & the market got far too one sided when it was pushed down to $1180. So since then a lot of those short speculative positions would have been covered, i.e. bought back. The market is yet to go long imo & if does so we should see it back toward $1550. The Mid/East is certainly heating up especially likely intervention in Syria so we should see gold get more out of that yet.
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26-08-2013, 12:46 PM
#5267
If it mirrors 1980, which it has almost exactly, could go to around $1,500 before it begins its final decline, probably for 20 years.
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26-08-2013, 05:57 PM
#5268
some big gains for Goldies again today in the ASX200 ....
"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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27-08-2013, 09:42 AM
#5269
Hey skol how about a update on gold silver
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27-08-2013, 12:59 PM
#5270
Could be on the button Moosie, wouldn't be surprised to see a pull back & looks like this morning it may have started. Be nice to see it hold support though.
Originally Posted by moosie_900
Gold appears to be inside a step formation (a la 2012). Should be a re-test of $1387 with a push higher if all keeps up. $1500 may be a new test sooner rather than later.
Last edited by Daytr; 27-08-2013 at 01:07 PM.
Reason: typo
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