Gold

[Daytr]

Yep gold is certainly looking slippery this morning, glad I have got some powder dry. Property might be booming in Auckland & picking up in the States, however in the States for instance its still a long way from the 2008 highs. It will be interesting in an hour if Asia comes in & buys gold but suspect they may be patient. Tonight we get the Fed out of the way so will have a clearer picture this time tomorrow. As you know Skol, most airline orders are not firm. In fact a lot of orders get cancelled. In saying that I don't know if 9k is a big number comparatively or not. It certainly sounds big. I wonder what percentage of those orders are for Asian airlines?

[Daytr]

And now gold is back above $1300, so now its going to $1600. Which is about as laughable as your $1000! Have you given up on $500 as your target Skol?

[Daytr]

Yep they do, so your are right its something to be very aware of. I still wouldn't be surprised to see gold bounce back after the Fed meeting. Anyway I only have 1/3rd of funds invested, the rest sitting waiting in cash, so am comfortable either way. But its not a time to be making big bets that's for sure.

down $15 as I type now. gold coming in for a re-test of $1271 soon enough, most likely tonight on the NY Comex. Goldman Sachs target of $1050, watch out, the market listens to them!

[Bobcat.]

TRY, PRU, TGZ, AQG and GRY are lowest cost gold producers (see the S&P Capital 10 Jan 2013 report (included in GRY's investor presentation on p10). These stocks are holding sp better than others, and are safer buys than SBM, NCM, etc.

My TRY have bounced back up from 145 to hover around 150 for two days now. PRU put out an encouraging announcement this morning which because of the bear-driven market today has so far been ignored. Could be worth a punt at 55c.

BC

[Skol]

And now gold is back above $1300, so now its going to $1600. Which is about as laughable as your $1000! Have you given up on $500 as your target Skol?

Nope, not at all, but I did say $600 or thereabouts, give it time.

[Daytr]

If I was a goldbug Skol, I might say its heading to $666! haha. Maybe $1666, I know which one is closer anyway. Well pretty much sidelines for me until the picture gets a little clearer. Cheers matey.

Nope, not at all, but I did say $600 or thereabouts, give it time.

[Daytr]

Last week I said this would be a classic sell the rumour & buy the fact & that gold would have a crack at $1350. I must admit I expected this to happen a day or two leading into the decision rather than when the actual decision was out. Taking out $1350 is important & it needs to hold so its good that gold has pushed on again, now through $1360. I almost questioned my conviction yesterday & I sold out 2/3rds of my position when gold broke $1300 yesterday morning, however I bought back a 3rd on the close as wanted to stick to my guns & still thought I was on the right track & that the market was short & would need to cover. So I wasn't 100% convinced, but being 2/3rds invested reflects my confidence level in what my view was. A couple of observations on the Fed decision: * Was it just me or did Bernanke lack confidence, conviction in what he was saying? * Stock markets rally strongly even though the FED is saying the recovery isn't nearly as strong as the market was suggesting. Clear evidence that its QE that is creating a bubble in the stock market. * QE tapering, may not start for 12 months or more. Personally I think this may change & the realization that QE is a complete waste of time & risky & will be curtailed for very different reasons. Stock market watch out! Good day ahead my friends!

[JBmurc]

Last week I said this would be a classic sell the rumour & buy the fact & that gold would have a crack at $1350. I must admit I expected this to happen a day or two leading into the decision rather than when the actual decision was out. Taking out $1350 is important & it needs to hold so its good that gold has pushed on again, now through $1360. I almost questioned my conviction yesterday & I sold out 2/3rds of my position when gold broke $1300 yesterday morning, however I bought back a 3rd on the close as wanted to stick to my guns & still thought I was on the right track & that the market was short & would need to cover. So I wasn't 100% convinced, but being 2/3rds invested reflects my confidence level in what my view was. A couple of observations on the Fed decision: * Was it just me or did Bernanke lack confidence, conviction in what he was saying? * Stock markets rally strongly even though the FED is saying the recovery isn't nearly as strong as the market was suggesting. Clear evidence that its QE that is creating a bubble in the stock market. * QE tapering, may not start for 12 months or more. Personally I think this may change & the realization that QE is a complete waste of time & risky & will be curtailed for very different reasons. Stock market watch out! Good day ahead my friends!

The so called TAPER what a load of bollocks ...in 12 months we will here the same lies ..All the media doom and gloom on Gold/Silver US economy going strong >>>>Absolute BS .....they need 1 trillion every year just to keep afloat >>>>debt ceiling
Recently there was a massive 2,000 contract short of GOLD from 1350 was dropped during 3am US time helped set of a mountain of stop-losses >>>to see us round recent lows ....well hope they haven't covered yet and will lose million on the contract

[JBmurc]

wow, what a rally indeed. time to buy some gold producers today!

you and the rest of the market ..will likely be paying 10%+ more than yesterday

[peat]

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I think its time to bring out Liberace again. Gold is so easy to play

I never could see that H+Sh Datyr and Skol mentioned. Only a reverse one if anything