Gold

[JBmurc]

worth waiting for certainty though over holding a big loss. think I might hold back on OGC as the price is getting ahead of itself compared to past PoG prices. TRY looking tasty though

Yeah all depends on Gold price movement could well continue it's move north now the market understand the FED won't be tapering anytime soon ...wish I held onto my RMS shares now would be back to even rather than taking the 10% loss ....have gained back 4-5% through buying PGI @ 8c.......I agree TRY looks good buying smart mgmt ....

[Daytr]

Gold should extend from here imo as $1350 was a big number on the way down & the same should be said on the way back up.
If $1350 holds for 24 hours then we should gain confidence that this is a momentum shifter. Next resistance for mine is $1400-1420 area which is reasonably large, a break of that then $1480 then all the way up to $1600.

[JBmurc]

Crazy fact Since Germany asked for their Gold back the "Comex Deliverable inventories" have fallen 78% to date

[elZorro]

So the gold price is saying -- the USA doesn't have any answers yet. Ditto the rest of the world. I haven't dropped the faith much, I think there is a longer term trend under the gold price.

The USD basket not doing so good at the moment, it's down to about 80c on the chart, near the point it was at when gold was at US$1700 or so, early this year.

Here's another chart which implies that the gold price is so strongly correlated with the growth of US Treasuries that it's fairly certain which way gold is going next. http://www.macrotrends.net/1448/fed-...-vs-gold-price

[Skol]

The Chinese govt. doesn't share the same view as the goldbugs, they're pouring money into US Treasuries. Chinese bond purchases in the USA in July were the most on a monthly basis since 1977.

All is well, shares, property, airlines, couldn't be better for me, one of the best investment periods of my life, meanwhile goldbugs still hoping that gold will go up, unfortunately hope isn't a viable investment strategy.

Despite the predictions for years by the goldbugs of imminent financial catastrophe, it's not happening.

And it won't either. lol

But goldbugs wouldn't be goldbugs unless they were whining about something.

Many cities in the USA are booming, and an article in the WSJ reports that for every innovation job created 5 other service jobs are created. An example is SFO where house prices have exceed their previous highs and hi-tech companies are having to jack up the salaries to keep their staff. I went for a beer there the other night and asked the barmaid a question. She told me "I don't know, I've only been here 15 minutes".

[JBmurc]

The Chinese govt. doesn't share the same view as the goldbugs, they're pouring money into US Treasuries. Chinese bond purchases in the USA in July were the most on a monthly basis since 1977.

All is well, shares, property, airlines, couldn't be better for me, one of the best investment periods of my life, meanwhile goldbugs still hoping that gold will go up, unfortunately hope isn't a viable investment strategy.

Despite the predictions for years by the goldbugs of imminent financial catastrophe, it's not happening.

And it won't either. lol

But goldbugs wouldn't be goldbugs unless they were whining about something.

Many cities in the USA are booming, and an article in the WSJ reports that for every innovation job created 5 other service jobs are created. An example is SFO where house prices have exceed their previous highs and hi-tech companies are having to jack up the salaries to keep their staff. I went for a beer there the other night and asked the barmaid a question. She told me "I don't know, I've only been here 15 minutes".

This come from the King of Whining on Gold Demise >>LOL

[Skol]

This come from the King of Whining on Gold Demise >>LOL

Aren't the chinese supposed to be hoarding thousands of tons of gold? At least that's what the goldbugs reckon.

If they were, why are they buying more US bonds than they have for 36 years?

[Daytr]

I just posted this on the Aussie Blog, so thought I may as well paste it here. Morning Skol! Ever thought the Barmaid might have replaced someone who couldn't afford to live on the wage they were earning? No they rely on tips in the good ol US of A!

This is what I know (IMO)that is the here & now & why I think gold is going to have a very good end to 2013 & its just started.

* The FED, tapering is off the table (imo) until at least 2014 & maybe well beyond. It will be interesting once the new Fed Chair steps in.
* The debt ceiling, is looming once again & will keep doing so. They will get through it after much posturing & playing hard ball on Obamacare etc. However it certainly is a positive for gold.
* The Syrian conflict isn't going away either & looks like the international (US) agenda will heat up again next week.
* Despite the Indian government trying to clamp down on gold imports, we are about to enter some of the biggest festive seasons & of course its Christmas where jewelry demand also booms in the West.

Longer term who knows, however I suspect we will still see higher gold no matter what as Chinese demand isn't going away & neither is Western World debt. However I trade what's in front of me & try not to look too far ahead.

As an investment strategy I am currently 2/3rds invested & am looking to go to 100%, but being patient on picking up the last 3rd as I think there will be opportunities later today being Friday afternoon. IMO this quarter will be a time to maximize profits with exposure to gold. Sure I am talking my book, but that's where my money is & so to my mouth!

[Daytr]

Skol, it appears the Fed doesn't agree with your up-beat assessment of the US economy. Money (greenbacks), can't give it away! LOL

Many cities in the USA are booming, and an article in the WSJ reports that for every innovation job created 5 other service jobs are created. An example is SFO where house prices have exceed their previous highs and hi-tech companies are having to jack up the salaries to keep their staff. I went for a beer there the other night and asked the barmaid a question. She told me "I don't know, I've only been here 15 minutes".

[Skol]

Daytr,
You haven't taken into account that October is traditionally the worst month for gold, is a $60 increase it? I'm glad I'm not one of your clients, a couple of days ago you were out of gold now you're 66% invested, doesn't stack up, I'm not going to be reading about you in the newspapers soon am I?

The XGD certainly isn't registering any kind of turnaround, it's down today.