Gold

[Skol]

Good luck with that one, there was a report on CNBC this morning about all the good news for the US economy, a bit slow off the mark, but making good progress, also Jeremy Siegel says the Dow could possibly hit 20,000 by year's end.

'Rally night' is one of Daytr's little foibles.

XJO up 1.5%, XGD down .5% yesterday.

[Daytr]

I'm not sure gold is ready yet to push through $1330 & hold. So far we have mostly seen short covering imo so it would take fresh longs to join the party for gold to launch higher, or an event. Its a bit chicken & egg stuff here as a sustained break of $1330 would probably encourage new buyers & yet that's also what's needed to make the break higher. So an event may trigger or a big surprise on the data front. Base metals had a great night & commodities generally are looking stronger. The US economy is still improving however there's a long road to venture down yet when interest rates are still at zero. How many of those auto sales are being bought on tick I wonder? Gold did very well between 2002 & 2008 when the Us economy was being driven to lofty heights on fumes remember & I could do it again as with most commodities the US is no longer the major driving force, you need to look east for that.

[Skol]

Daytr says:
Gold did very well between 2002 & 2008 when the Us economy was being driven to lofty heights on fumes remember & I could do it again as with most commodities the US is no longer the major driving force, you need to look east for that.
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Sometimes I wonder if this guy reads the news.

Last year,

Shanghai Composite +3%
Gold +3%
S&P500 +19%

But who am I to query such a noted and respected gold trader, with vast experience in world markets and such an impressive resume?

[Daytr]

The US jobs numbered headlined as a very strong number but as usual the devil is in the detail. The participation rate still remains at its lowest point since 1978 & a massive number of full time jobs were lost whilst part time jobs outweighed the loss of full time unemployment. I'm not saying its not a positive number, however its not quite as solid as the headline number suggests. Lets hope the growth in the US economy continues & broadens as the stronger the US grows the more they will buy from China & that will support Chinese growth & their appetite for gold will continue to grow as their middle class continues to explode. Its quite remarkable that China has maintained a growth rate of between 7-8% when its major customers Europe & the US have been on their knees for years.

[Skol]

The US jobs numbered headlined as a very strong number but as usual the devil is in the detail. The participation rate still remains at its lowest point since 1978 & a massive number of full time jobs were lost whilst part time jobs outweighed the loss of full time unemployment. I'm not saying its not a positive number, however its not quite as solid as the headline number suggests. Lets hope the growth in the US economy continues & broadens as the stronger the US grows the more they will buy from China & that will support Chinese growth & their appetite for gold will continue to grow as their middle class continues to explode. Its quite remarkable that China has maintained a growth rate of between 7-8% when its major customers Europe & the US have been on their knees for years.

Can you believe people actually pay for this information?

Goldbugs have been out of pocket for years thinking the gold rocket is going to continue to another universe thanks to China and India but it hasn't actually happened, the punters that have made money are those that have backed the USA, still the dominant world power and will be for the forseeable future.

China's a place with problems that defy imagination, 500 riots a day, mass moneyed migration to the USA, Canada, UK, Australia and NZ, the world's worst pollution by far, political intrigue at the moment, ethnic cleansing, corruption on a massive scale and a one-party state.

A country that classes itself as a world power that doesn't even have the expertise to build and operate an aircraft carrier. The USA built one every 2 weeks in WW2 with half the population it has now.

Daytr probably needs to spend a little time reading the history of the oriental masses.

[Skol]

No more powerful engine has ever been built than the Saturn 5 rocket and that was decades ago, the Russians imported US military hardware (free) to defeat the Germans right? The Soviet Union built a fraction of the war materiel the USA built.

There is no more powerful nation on Earth than the USA, period. The USA built and launched a destroyer at Mare Island naval Shipyard in SFO in 17 days, still a world record. During the battlle of Iwo Jima the USA had 1,700 ships around the island, and that was only one theatre of war.

Whether the T-34 was superior is debatable, because there was many different versions of the Sherman including the Firefly with a 17 pounder gun.


http://en.wikipedia.org/wiki/Sherman_Firefly
Want more, let me know.

XJO up again, XGD down.

[Skol]

Not much improvement in the monsoon in India, farmers will likely sell gold.
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Five stocks that could benefit from a sub-par monsoon


Ashutosh R Shyam, ET Bureau Jul 2, 2014, 09.17AM IST

Monsoon seems to have run into a dry wall, with June this year being one of the driest since 1951, giving farmers and planners sleepless nights.

http://articles.economictimes.indiat...ce-cream-sales

[Bobcat.]

http://www.everyinvestor.co.uk/news/...-2020-21-8621/

[Skol]

http://www.everyinvestor.co.uk/news/...-2020-21-8621/

Gold to hit $10,000 in 2020.

Hahaha, good luck with that one, didn't you know I'm winning lotto tonight.

Shameless scamsters like Bo (baloney) Polny need jailing, like this lot of charlatans, none of them have issued a public apology to their hapless followers that I know of.

http://bullionbullscanada.com/index....son&Itemid=138

Apparently Polny is a chiropractor as well as a gold psychic, a double scamster.

[Skol]

Gold's worth $800. (if you're lucky)

http://online.wsj.com/articles/weigh...ces-1404486482