Gold Price Watch

Discussion in 'Economics & Trade' started by DA60, Jan 27, 2012.

  1. bacardi

    bacardi New Member

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    another possibility is that Greece has still not struck a deal with the EU countries!
     
  2. raymondo

    raymondo Banned

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    Academic , but for once I do not fully agree with you .
    This news is more likely to push prices higher --- historically always the case .
    I don't think anybody expects a quick , let alone good Greece solution .
    I am even wondering if they need to wait until late April because of Greek elections that month .
    Whatever the outcome , the Greek serfs will be pot less and will take to the streets big time .
    A re-elected Govt does not want that happening beforehand , if possible . It will be horrendous if they have to take a 70% hair cut .
     
  3. DA60

    DA60 Banned

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    Personally, I think this is the main culprit.
     
  4. raymondo

    raymondo Banned

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    But it has raced back to 1745 as I speak .
    The unemployment figures are now 4 days old and savvy people see they are essentially nonsense ,( So , Gold Up) , but the Greek situation has not yet altered one iota( according to you ,this should be continuing to depress the price) .

    First point to Ray but I shall continue to monitor .
     
  5. DA60

    DA60 Banned

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    The Greek situation changes almost every hour.

    And who is to say where gold/silver would be were there no problems with Greece?

    I have said my opinion.

    You don't agree - so be it.
     
  6. raymondo

    raymondo Banned

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    Nothing has yet happened in terms of new public information . The fact that they are talking non stop is good but until they issue specific action agreements and courses , nothing has changed .
    Anything based on a 70% Hair Cut is ludicrous and will break down very quickly.
    Anything near this position implies more austerity measures and the shedding of another 15000 jobs in the public sector .
    Greeks will tear the country apart . rightly so , imo .
    So , I repeat , the situation remains as it was and we still need Angela to do a huge U turn before any Bail Out becomes possible .
    You sounded somewhat curt , last Post .
    This is a chat /discussion and no more .
     
  7. DA60

    DA60 Banned

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    I was slightly 'curt' because you misinterpreted my words.

    I did not say that the Greek situation is keeping PM's down all the time...just every now and then.

    IMO, that situation's rumors are changing every few hours...and with it, the markets, the dollar, PM's, etc..

    I take investing very seriously...I don't want to get into long hypothetical debates.

    I just want facts and statistics and news and quick opinions.


    I value your opinion...and others on here.

    But I crave exactitude in both statements and interpretation.


    I personally do not believe in trends or anything else other then this: prices go up and down for reasons.

    And I wish to know what those reasons are.
     
  8. tdekster

    tdekster New Member

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    Gold is dipping today. The calm before the storm. Starting Monday possibly Tuesday Gold & Silver should start to move nicely. I think Gold tests 1800 next week.
     
  9. DA60

    DA60 Banned

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    Interesting...I hope you are right.

    Might I know the reason for your optimism?
     
  10. tdekster

    tdekster New Member

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  11. DA60

    DA60 Banned

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  12. DA60

    DA60 Banned

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  13. TopCat

    TopCat New Member

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    Greek MP's passed the austerity package tonight which should calm investors and possibly lead to a short term bounce. Kick the can down the road etc.
     
  14. DA60

    DA60 Banned

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    I hope so.

    There is still EU approval to go...and Germany seems to want everything.
     
  15. TopCat

    TopCat New Member

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    If Greece went bankrupt / defaults then it would be likely that others would follow as they wouldn't be able to refinance their loans. Banks would be looking to raise cash to cover their losses. Stocks and commodities would tumble as a result. I believe that's the logic behind it, but I'm no expert.
     
  16. DA60

    DA60 Banned

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    I agree...nor am I an expert.
     
  17. bacardi

    bacardi New Member

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    yes you are correct.....commodities along with stocks would collapse, this would result in many banks becoming insolvent and the falling stockmarkets would also make several pension funds and insurance compnies insolvent. So then the question becomes what would central banks do? Do you think central banks would just do nothing so that the politicians in those countries can watch their political carreers go up in smoke? I doubt it....so this is why I think that it would be similar to 2008....gold and silver ( especially silver) would fall at first then followed by a massive push forward to new highs as a flood of new money hits the markets!
     
  18. DA60

    DA60 Banned

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  19. bacardi

    bacardi New Member

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    like everyone else he is just guessing........I think gold will keep doing what it has been doing for the last 11 years.......up about 20 % per anum....it will really take off when the currency crisis hits!
     
  20. DA60

    DA60 Banned

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  21. bacardi

    bacardi New Member

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    well if not 2013 than I am sure soon after that. Eventually there will be a currency crisis and this is when gold and silver will really take off. The exact timing is difficult but who cares as eventually it will be much higher than it is now!
     
  22. DA60

    DA60 Banned

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  23. raymondo

    raymondo Banned

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    Have a look at the new Topic , " EZ rally before Death Spiral"
    It seems to neatly explain why Gold and Silver have basically paddled water for the last few weeks .
    This suggests that the basic drive behind these metals is still very strong as the combination of so called good EZ news plus more manipulated US economy figures , have not produced a short term correction . So far .
    The report is from an article produced by Weiss Research .
    Once QE becomes the regular last resort again in the US , we will see commodity prices move north . imo
    Here in the UK we are being crafty and quietly , but regularly , creating "small" sums of imaginary money which all goes to the banks . RBS , in particular , was in considerable further trouble because of its lending position to the Irish Banks .
    You have to tip your hat to Dave and George . They keep pre-empting matters and so far have managed to keep on the right side of the markets . What will happen once Spain hits the headlines again -- anytime now --- remains to be seen . Not good .
     
  24. DA60

    DA60 Banned

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    'Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending.
    Twelve of 22 surveyed by Bloomberg expect prices to gain next week and five were neutral. Paulson & Co. is already the biggest investor in the SPDR Gold Trust, the largest exchange- traded product backed by bullion, with a stake valued at $2.9 billion, a Securities and Exchange Commission filing Feb. 14 showed. Investors have 2,389.7 metric tons in ETPs, within 0.2 percent of the record reached in December and more than all but four central banks, according to data compiled by Bloomberg.
    Speculators in U.S. gold futures are now their most bullish since September after the Bank of England and Bank of Japan said they will buy more assets and the Federal Reserve said it was considering purchasing more bonds. Central banks are also expanding their bullion reserves, adding 439.7 tons last year, the most in almost five decades. They may buy a similar amount in 2012, the London-based World Gold Council said yesterday.
    “The appalling state of fiscal finances of most industrial nations does lead to concerns about the possibility of inflation,” said Mark O’Byrne, executive director of Dublin- based GoldCore Ltd., a brokerage that sells everything from quarter-ounce British Sovereigns to 400-ounce bars. “Gold is a crucial diversification given the various risks out there.”'

    http://www.bloomberg.com/news/2012-...billionaire-paulson-says-buy-commodities.html
     
  25. raymondo

    raymondo Banned

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    Gold smashed its way through the 1750 resistance level at around 15.30 GMT
    All this lurking in the thirties disappeared very fast , though I have no inkling why .
    Will it manage to hold , consolidate and move toward 1800 ?
    Wish I knew . I'd punt a few on the Sell within T+3 slot .
     

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