GOLD
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- udonmap.com
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GOLD
Hi,
Yes it'll keep the safe haven status for a while now I think.
I suspect it's heading back up to 1770 or thereabouts by about mid-July. If it breaks through 1775 it should head back up to around 1880 to 1900 level again, perhaps by mid-august. Just some tech analysis - fundamentals will always screw with dates and levels.
Cheers
Phil
Yes it'll keep the safe haven status for a while now I think.
I suspect it's heading back up to 1770 or thereabouts by about mid-July. If it breaks through 1775 it should head back up to around 1880 to 1900 level again, perhaps by mid-august. Just some tech analysis - fundamentals will always screw with dates and levels.
Cheers
Phil
GOLD
In the US where it is easy to buy and safeguard gold and silver a plan to invest in both is advised.
Look to the GSR, gold:silver ratio. It's been in the 80's in the last few years (it takes 80 oz of silver to by 1 oz of gold) and as low as the 30's. Traditionally the ratio should be 20:1 to 15:1. The idea is when the ratio is high you buy silver with your gold, and when the ratio is low you buy gold with your silver. In the end if you do it right your stack grows larger though you lose some on the buying and the selling. Or you should be buying silver when it's cheap and buy gold when silver is expensive (compared to gold).
Now may be the time to buy silver rather than gold considering the ratio of prices.
Look to the GSR, gold:silver ratio. It's been in the 80's in the last few years (it takes 80 oz of silver to by 1 oz of gold) and as low as the 30's. Traditionally the ratio should be 20:1 to 15:1. The idea is when the ratio is high you buy silver with your gold, and when the ratio is low you buy gold with your silver. In the end if you do it right your stack grows larger though you lose some on the buying and the selling. Or you should be buying silver when it's cheap and buy gold when silver is expensive (compared to gold).
Now may be the time to buy silver rather than gold considering the ratio of prices.
- Laan Yaa Mo
- udonmap.com
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GOLD
The precious metal took a nosedive today. How can we sue Khondahm?!?
You only pass through this life once, you don't come back for an encore.
- jackspratt
- udonmap.com
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- Joined: July 2, 2006, 5:29 pm
GOLD
It seems this thread is only active when gold is on the way up.
When gold is heading south, those "in the know" seem to lay dormant.
When gold is heading south, those "in the know" seem to lay dormant.
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- udonmap.com
- Posts: 443
- Joined: July 27, 2005, 6:14 am
GOLD
Hi,
Re gold price - there were some comments that Bernanke said that weren't taken too favourable, hence the price drop. I actually don't trade gold, but currencies and options. However same technical principles apply. I don't mind if things go up or down - I look for either and am very happy to short as price moves about 2 to 3 times faster as compared to going long.
For gold, the upside looked initially promising as price had broken to the upside from 1600. However, there was a 4 hour minor resistance level at 1640 which price hit and promptly bounced back off. No one should have bought the break above 1600 and you should look for price to break above 1640 before considering longs. Don't play the break straight off though - wait for the pullback.
A nice pin bar has formed on Friday on the daily chart - tempting to play one of several pin bar setups with that one. However, there isn't a great deal of confluence and the pin bar isn't appearing at the right place, i.e. mid-stream instead of at major support or resistance. So I would ignore it.
For an overall view though, I've taken a closer look at gold, my bias would be down, but I wouldn't go short until price breaks below 1500. Downward bias is based on a couple of things. The current price dropping below daily SMA 50, 100 and 200 which are significant dynamic levels to look for. At the close on Friday (yesterday), there is a major support around 1500 and major resistance at 1715. These are dynamic though and will change, particularly the resistance, over the coming days/few weeks. If price breaks below 1500 then the next support is around 1450.
The second thing is that the overall daily trend is down and has been for about 10 months.
So for the longer time frame we have 2 areas complimenting each other - price action below major SMA's and overall trend for the past 10 months is down. That means I'd be looking to short this commodity if I were trading it. That doesn't mean blasting off and just selling, it means looking for the right setups to sell. If you haven't got some good set ups and patience, you'll lose no matter what.
I'd post some charts if I knew how to post them! Can someone let me know?
Cheers,
Phil
Re gold price - there were some comments that Bernanke said that weren't taken too favourable, hence the price drop. I actually don't trade gold, but currencies and options. However same technical principles apply. I don't mind if things go up or down - I look for either and am very happy to short as price moves about 2 to 3 times faster as compared to going long.
For gold, the upside looked initially promising as price had broken to the upside from 1600. However, there was a 4 hour minor resistance level at 1640 which price hit and promptly bounced back off. No one should have bought the break above 1600 and you should look for price to break above 1640 before considering longs. Don't play the break straight off though - wait for the pullback.
A nice pin bar has formed on Friday on the daily chart - tempting to play one of several pin bar setups with that one. However, there isn't a great deal of confluence and the pin bar isn't appearing at the right place, i.e. mid-stream instead of at major support or resistance. So I would ignore it.
For an overall view though, I've taken a closer look at gold, my bias would be down, but I wouldn't go short until price breaks below 1500. Downward bias is based on a couple of things. The current price dropping below daily SMA 50, 100 and 200 which are significant dynamic levels to look for. At the close on Friday (yesterday), there is a major support around 1500 and major resistance at 1715. These are dynamic though and will change, particularly the resistance, over the coming days/few weeks. If price breaks below 1500 then the next support is around 1450.
The second thing is that the overall daily trend is down and has been for about 10 months.
So for the longer time frame we have 2 areas complimenting each other - price action below major SMA's and overall trend for the past 10 months is down. That means I'd be looking to short this commodity if I were trading it. That doesn't mean blasting off and just selling, it means looking for the right setups to sell. If you haven't got some good set ups and patience, you'll lose no matter what.
I'd post some charts if I knew how to post them! Can someone let me know?
Cheers,
Phil
GOLD
"I'd post some charts if I knew how to post them! Can someone let me know?"
This worked for me:
- Go to: http://www.kitco.com/charts/livegold.html (just as an example)
- Right click on the black chart
- SAVE AS (I usually save to my desktop to make it easy to find later)
- When you want to post a reply with an attachment, you have to click on POST REPLY. If you click on QUICK REPLY, you can't post an attachment. So.....click on POST REPLY.
- Add your comments. Then to add the chart, click on UPLOAD ATTACHMENT. Then click on CHOOSE. Find the jpg file that you saved. Click on ADD THE FILE.
- Finally SUBMIT.
Hope it works for you.
This worked for me:
- Go to: http://www.kitco.com/charts/livegold.html (just as an example)
- Right click on the black chart
- SAVE AS (I usually save to my desktop to make it easy to find later)
- When you want to post a reply with an attachment, you have to click on POST REPLY. If you click on QUICK REPLY, you can't post an attachment. So.....click on POST REPLY.
- Add your comments. Then to add the chart, click on UPLOAD ATTACHMENT. Then click on CHOOSE. Find the jpg file that you saved. Click on ADD THE FILE.
- Finally SUBMIT.
Hope it works for you.
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- udonmap.com
- Posts: 443
- Joined: July 27, 2005, 6:14 am
GOLD
Thanks for that Parrot. I'll give it a go.
I'll attach the daily gold chart and a 4hrly gold chart and see how it comes out.
I'll attach the daily gold chart and a 4hrly gold chart and see how it comes out.
- semperfiguy
- udonmap.com
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GOLD
Here's a much better chart to follow: http://goldprice.org
Single left click on the chart at the top left of the web page and a detailed chart will appear toward the bottom of the page. It will give you a variety of options to view and it's easy to follow.
Single left click on the chart at the top left of the web page and a detailed chart will appear toward the bottom of the page. It will give you a variety of options to view and it's easy to follow.
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.
GOLD
Gold will break 2000 by the US elections in Nov. If Romney wins (because of the European contagion crashing all economies) the world is doomed and gold won't stop until it finds equilibrium with the Dow. All IMO.
Enjoy this site much more by adding idiots to your ignore list (Friends & Foes tab).
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- Laan Yaa Mo
- udonmap.com
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GOLD
Maybe, but right now it has fallen again ($1560-1570 U.S.). In fact, it is moving like a yo-yo over the past few weeks. Up to over $1700, and right back down again. Oil is also in a freefall, which means the Canadian dollar is too!
You only pass through this life once, you don't come back for an encore.
GOLD
I'm in agreement with some of the more informed investors/analysts I follow: Comex is a scam. Even more so than Libor IMHO. With all the money printing going on and pro-gold policies (think China et all), gold should be continuing its ascent; however, its suspiciously and persistently being capped at "just" below the technical triggers which would signal its next phase.
It's like holding down the lid on a boiling pot. It can't continue forever; and what will eventually happen is just as assured.
It's like holding down the lid on a boiling pot. It can't continue forever; and what will eventually happen is just as assured.
Enjoy this site much more by adding idiots to your ignore list (Friends & Foes tab).
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- Laan Yaa Mo
- udonmap.com
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GOLD
KHONDAHM wrote:Gold will break 2000 by the US elections in Nov. If Romney wins (because of the European contagion crashing all economies) the world is doomed and gold won't stop until it finds equilibrium with the Dow. All IMO.
Getting near Christmas and gold is at $1660 Canadian. It is not that I enjoy calling you out (well, a little bit) but your economic predictions suck as compared to your political predictions.
You only pass through this life once, you don't come back for an encore.
GOLD
Sorry, but you getz no satisfaction points. Just search this thread for the word "timing". Thank you for playing, though.
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GOLD
Negative real intrest rates are here to stay thanks to market manipulations by the Fed. The Fed is attempting to protect us from all things that are natural and often painfull. The inverse correlation of gold and intrest rates is not perfect but we are in uncharted waters the ralation seems to be holding for good reason like the obvious....... risk adversion. This little correction we have just witnessed is a blip in the long term bull gold market, thats my call.
GOLD
No, Gold is over priced. Noticeably both myself (via financial marketing) and my wife (via friends who want to sell her there gold) have seen a marked increase in 'offers'. A sure sign that those with some acumen are trying to unload. it has been falling for 3 months, but mainly in the last month - down a $100 in the last month alone. it may rise again, but i cannot see big gains for a couple of years - if then.
But i must admit where to put your money is now problematic - interest rates are still falling, so cash now offers a poor return - depends where you invest, but in the UK shares are only back where they were 5 years ago, house prices still down, and no signs either will rise much.
But i must admit where to put your money is now problematic - interest rates are still falling, so cash now offers a poor return - depends where you invest, but in the UK shares are only back where they were 5 years ago, house prices still down, and no signs either will rise much.
GOLD
http://mobile.nytimes.com/article?a=100 ... =Columnist
Paul Krugman offers his assessment of financial 'Doomsday Preppers '.
Paul Krugman offers his assessment of financial 'Doomsday Preppers '.
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- udonmap.com
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GOLD
Liked this article up to the conclusion, when Krugman wrote this "So we cannot and will not persuade these people to reconsider their views in the light of the evidence. All we can do is stop paying attention. "parrot wrote:http://mobile.nytimes.com/article?a=100 ... =Columnist
Paul Krugman offers his assessment of financial 'Doomsday Preppers '.
Seems to me that it' only natural that Doomsday Preppers and the opposite side of the aisle won't talk. And it's fine to stop paying attention to some media but elected representatives have a duty to communicate.