Gold

[Daytr]

If you are going to have a snipe Skol me old codger, at least make it original rather than borrowing a cheap one liner from a poster on HC. Perhaps it was a mistake to give you a reprieve from being on ignore.

Certainly could be an interesting night Moosie. $1275-80 support being tested .

[airedale]

As Moosie pointed out the other day, the US dollar index is giving gold and oil a strong headwind.

http://tradingdiary.incrediblecharts...gold-forex.php

[Skol]

Lots of things are giving gold a strong headwind, not only the USD, there's lots of positive economic data.

The SPDR GLD tonnage is down 5 tonnes in the last 2 days.

[JBmurc]

Europe Q.E coming ? was a big driver of the GOLD price back a few years

[airedale]

My info is that Israel is also joining the QE party.

[JBmurc]

My info is that Israel is also joining the QE party.

seems to be all the faze these days the Yanks,Japs etc believe it's been a brilliant plan

No one seems to worry about the ever increasing sovereign DEBT loads and forceable need to keep rates very low ...can't see the unwinding of these funny money games being much fun..as nothing was fixed from the GFC

[Skol]

All looks pretty good to me, stockmarkets up, property's up, local currency down, it doesn't get any better, oh happy days, long may it last.

[JBmurc]

All looks pretty good to me, stockmarkets up, property's up, local currency down, it doesn't get any better, oh happy days, long may it last.

Yes the new money has to flow somewhere ..

Really even here in NZ we had a Q.E like movement of funds via the chch earthquake bringing in billions of insurance rebuild money etc
been a major driver of local inflation in the property market with higher material costs and higher demands on building requirements ..

Looking to sell our home for round 275k more than it cost us to build in 2010 (contracted 2009)

[JBmurc]

The World Gold Council’s Head of Technology, Trevor Keel, said there is approximately 25 milligrams of gold generally found in smartphones, roughly worth about $1.

At first glance, this quantity of gold seems trivial. But looking at Apple’s earnings, the company sold more than 35.2 million iPhones in the third quarter of their 2014 fiscal year.

This translates into iPhone customers having bought a little more than 31,000 oz of gold between April and June, which adds up to roughly $39.6 million at current gold prices.

In a recent posting on Appleinsider.com, an RBC Capital Markets analyst Amit Daryanani was quoted saying he expects iPhone 6 sales to reach 10 million during its launch weekend and 75 million units by year-end, a potential of more than 66,000 ounces of gold.

[Daytr]

Any demand is positive however 66k toz you are talking about 0.0007% of annual global production, its insignificant.
Speaking of demand we should really see the physical demand side of things start picking up shortly. Generally it gets a real kick in October, however it normally starts ticking up around now or early September.