Gold

[Daytr]

International corporate tax loop holes is something that I have been harping on about that needs to change to increase Government tax take around the world, to assist with lowering extreme government debt levels. If addressed it will also have a dramatic impact on corporate earnings, PE ratios & stock market valuations.

Apple & others are under the microscope in Europe & I always suspected Europe would lead this challenge & may force the US's hand to follow suit, despite I imagine immense pressure from lobbyists to leave well alone.
I'm not sure there will be the political will in the US, however in Europe when one country, Ireland, has been giving tax holidays to major international corporates for around 15 years it obviously does not sit well with the rest of Europe. A major boost to Ireland's economy & high skilled employment growth is directly associated with this tax holiday. The implications could be huge for Ireland's economy but overall better for governments around the world getting there fair share of corporate tax.
Something I think to watch closely, particularly in regards the impact on corporate earnings & equity valuations. With equity markets imo already over valued, if international corporates are forced to pay tax they have been able to avoid, PE ratios will blow out considerably & equities will suffer & gold will be a beneficiary.

http://www.nzherald.co.nz/technology...ectid=11335113

[Skol]

If gold falls below 1180, the day of reckoning may have arrived, very likely tomorrow as punters who have had the weekend to think about what do, cash out. SPDR GLD down 5 tonnes last week, lowest stockpile since 2008.

[Skol]

I see friend Bobcat is making himself scarce, he posted that "the bottom's in" at $1280, but since deleted the post.
Was No. 7241, on page 483.

Love a buck for everytime I've read "the bottom's in".

Goldbugs disappearing at an increasing rate.

[JBmurc]

The bottom may be in on monday ? if not 1050 here we come ....

[blackcap]

I see friend Bobcat is making himself scarce, he posted that "the bottom's in" at $1280, but since deleted the post.
Was No. 7241, on page 483.

Love a buck for everytime I've read "the bottom's in".

Goldbugs disappearing at an increasing rate.

I think you will find that Bobcat has been banned from the forum.

[Daytr]

We should start a petition. Bring back BC! And Moose for that matter. Definitely a bit quieter without them.

[Daytr]

Why $1050 JB?
And if so where do you think the Aussie would be?

QUOTE=JBmurc;509924]The bottom may be in on monday ? if not 1050 here we come ....[/QUOTE]

[JBmurc]

Why $1050 JB?
And if so where do you think the Aussie would be?

QUOTE=JBmurc;509924]The bottom may be in on monday ? if not 1050 here we come ....

[/QUOTE]

Pure my spec view that if the Traders push GOLD strongly below 1180oz USD level we could see the bandwagon & momentum traders spike it down to close to the next major resistance point round $1000 ....why I think 1050oz USD is I'm pretty sure thats what India brought a large amount at back in the day ....AUD wise I really think it will hold above $1300oz AUD levels so could see the USD/AUD 80c etc

IMHO the major driver of turning round this Bear trend in the PM's will be a string of Major mines on C/M
in turn a major reduction in forward production ..esp in SILVER

[Hoop]

Good news...the bottom support held (1180).... and in theory, a successful bounce of that support strengthens that support
More good news...could be a triple bottom pattern forming
Even more good news....higher volume usually means a downward breakout won't happen this time*

Bad News...The 15 month old descending triangle pattern has a 64% chance of breaking out through the bottom (below 1180)...Watch the volume, breakouts occur 81% of the time when volume gets low (Bulkowski)*
More bad news...the new bull market cycle got busted when gold went below 1240..and now has to rise above the 1240 and break the triangle top line for any hope the bull still alive...A big ask!!.
Even more bad news....US dollar in a sharp uptrend ... Global money flight back to save havens?

[Daytr]

Thanks Hoop, always appreciated. I don't think we have seen the real test of $1180 yet.
Personally I think US equities are the litmus strength of the USD & also gold.
The market is short is spec short gold on the USD rising & USD growth.
However a rising USD will reign in US growth & corporate earnings.
A conundrum one might say.
Gold I think responds better to conundrums particularly when the market is positioned against it.
We are at a very interesting point & have come a long way in one direction for the USD.