Gold $1,400

[PICSIX]

Looking for gold to move down to $1,400 per ounce....in GLL at $64.14. Time will tell?

[Valuist]

IMO, no. You won't see $1400.

[lamboguy]

on a technical basis he actually could see gold down to $1400, it would almost have to happen next week. its pretty far oversold right now, so i suspect there will be some type of a bounce next week and that in turn would raise up the 200 week moving average to make $1400 almost impossible to reach.

[lamboguy]

i made a mistake, gold is already trading above $1400 on the 200 week. once the 200 week crosses $1500 the actual price should fly up to over $2000

[PICSIX]

Here's what I see:

[PICSIX]

Drop Gold Drop!! :jump: :jump:

[classhandicapper]

Gold has been weak because some other countries are even more determined to devalue their currency than the US right now (especially Japan).

Gold is traded in US Dollars. So if the dollar is strong relative to other currencies, gold will be weak and vice versa. That explains weakness in gold in the short term.

This is most likely a temporary state of affairs because the US is still printing massive amounts of money, government spending is still growing too fast, and nothing sensible is being done to reverse either situation. Having one of the least horrible paper currencies in the short term is not a sound economic or monetary policy. The world is in a race to the bottom and ultimately global inflation is going to pick up and confidence in paper (worthless) money will deteriorate further. Gold will be seen as a viable monetary alternative, but you have to be a patient long term investor because there are always short term things going that could be negative for gold and strong anti gold political pressures.

[PICSIX]

Gold has been weak because some other countries are even more determined to devalue their currency than the US right now (especially Japan).

Gold is traded in US Dollars. So if the dollar is strong relative to other currencies, gold will be weak and vice versa. That explains weakness in gold in the short term.

This is most likely a temporary state of affairs because the US is still printing massive amounts of money, government spending is still growing too fast, and nothing sensible is being done to reverse either situation. Having one of the least horrible paper currencies in the short term is not a sound economic or monetary policy. The world is in a race to the bottom and ultimately global inflation is going to pick up and confidence in paper (worthless) money will deteriorate further. Gold will be seen as a viable monetary alternative, but you have to be a patient long term investor because there are always short term things going that could be negative for gold and strong anti gold political pressures.

Agree 100%! Taking a trade on the current weakness...Any signs of an ADX peak (on the daily chart) and I'm closing this trade!!

[lamboguy]

it is very hard to pick tops and bottoms on any market. the numbers below are $1569, $1524, if it cracks that you can start looking for the 200 week EMA, if it cracks that number the gold bull is dead.

[PICSIX]

$1,600 significant.

http://finance.yahoo.com/video/hedge-funds-dumping-gold-181000426.html

[lamboguy]

it is very hard to pick tops and bottoms on any market. the numbers below are $1569, $1524, if it cracks that you can start looking for the 200 week EMA, if it cracks that number the gold bull is dead.$1569 gone, next stop $1525, might be problematic for gold, it has never broken the 200 week for the length of this 13 year run

[PaceAdvantage]

Looks like I picked the wrong time to put an iron condor on GLD... :lol:

Can anyone say "adjustment?" :lol: :lol:

[JBmadera]

Looks like I picked the wrong time to put an iron condor on GLD... :lol:

Can anyone say "adjustment?" :lol: :lol:

OUCH!!

[PICSIX]

Looks like I picked the wrong time to put an iron condor on GLD... :lol:

Can anyone say "adjustment?" :lol: :lol:
Been there...done that.
http://www.ironcondorsystem.com/?kw=iron%20condor%20strategy

[sammy the sage]

Just means BIG picture that % rates ABOUT to go UP....and THEN what follows boys and girls...

Stagflation...like Japan or massive inflation...like Greece....OUCH

[PICSIX]

Just means BIG picture that % rates ABOUT to go UP....and THEN what follows boys and girls...

Stagflation...like Japan or massive inflation...like Greece....OUCH

Yes, quantitative easing = Vaseline, we are all going to be SCREWED! :mad:

[lamboguy]

as bad as gold prices have been smashed the last 2 weeks, the 1 month lease rates have turned positive for the first time since 2011. historically positive 1 month leave rates have suggested major accumulation of the metal and suggest strong moves up going forward in the price of the metal.

unless price takes a straight line move to the downside and gold absolutely goes to hell in a hand bag, the very bottom on gold is around $1470. i could make a very strong case for gold running to over $3000 now and way beyond that number going forward.

markets always deal with fear and greed. most people can't handle the moves in either direction on any market.

[Valuist]

as bad as gold prices have been smashed the last 2 weeks, the 1 month lease rates have turned positive for the first time since 2011. historically positive 1 month leave rates have suggested major accumulation of the metal and suggest strong moves up going forward in the price of the metal.

unless price takes a straight line move to the downside and gold absolutely goes to hell in a hand bag, the very bottom on gold is around $1470. i could make a very strong case for gold running to over $3000 now and way beyond that number going forward.

markets always deal with fear and greed. most people can't handle the moves in either direction on any market.

There may be some institutional selling but I don't think any retail owners of gold are going to sell. $3000 wouldn't shock me. Its just a matter of when that number hits.

[lamboguy]

the thing that looks terrible in the metal markets today is the copper. i have no idea what is going on with that metal. usually silver moves with copper. the silver does not look as bad as copper does though. this might be a simple case of divergence going on, and in the big picture, the price of copper has nothing to do with the price of gold!

[burnsy]

I sort of think gold is just seeing a bump in the road. The way ALL currency is going it will probaly rise again in the near future. Not that i'm worried i bought gold when it was at around 700 and that was only maybe 6 or 7 years ago, if that. Have a bunch of silver too, which was about 18 when i bought that. If paper keeps getting cheaper(print, print, print) metal will just continue to rise. There will be adjustments here and there, but i would not bet against gold and silver just yet. I see myself holding on to that shit for years to come. People act like the housing crash was some "BIG" secret...they kind of kept it that way from most people but i had a friend in the mortgage business. He does not sell loans, he processes them. He told me years ago that people were getting "phony" loans that many will never be able to pay back and he was just an average loan processor working for M&T, the next summer he had to work the turf course at Saratoga because M&T was bleeding badly. Hes back to work now but both of us are glad he saw what was coming and bought silver and gold. Its hilarious reading these "left" and "right" people and their threads....while people just fleeced the system, forced the economy and banking system to shit the bed, they walked away richer and never got prosecuted. They love that these morons argue over social issues and bullshit...while they rob the store......one fool on the right wing agenda said the "left" wants income redistribution. Yeah genius, both sides have been allowing that for decades and i got news for you...its all been going to the top! Regular people are making shit and their money is becoming worth less than the paper its being printed on....lol. What are people waiting for? Some miracle recovery? It ain't coming........hold your metal.

[Rookies]

the thing that looks terrible in the metal markets today is the copper. i have no idea what is going on with that metal. usually silver moves with copper. the silver does not look as bad as copper does though. this might be a simple case of divergence going on, and in the big picture, the price of copper has nothing to do with the price of gold!

Well, for example, Canada just eliminated the Penny!

[Tape Reader]

the price of copper has nothing to do with the price of gold!
It all depends. Some see gold as a commodity, and some see gold as a currency. I see gold as a currency that politicians will eventually need to defer to: "You can't blame me, these are the rules." The sky's the limit.

[PICSIX]

Headed to $1,400??

[PICSIX]

Looking for gold to move down to $1,400 per ounce....in GLL at $64.14. Time will tell?

You read it here first!!! :jump: :jump: :jump: :jump:

[PaceAdvantage]

Great call! You even had Goldman Sachs beaten by about two months! :ThmbUp:

[RaceBookJoe]

You read it here first!!! :jump: :jump: :jump: :jump:

Call of the decade :)

[classhandicapper]

I haven't bought any gold since it was trading in the $400-$450 range years ago (still own it). I am getting ready to buy more.

The short term fundamentals for gold have gone negative. Japan is debasing its currency heavily and there are still problems in Europe. So the US Dollar is looking like the least smelly piece of shit. (potentially strong dollar = bad for gold).

The long term fundamentals remain in place however. The world is printing massive amounts of worthless paper to got out from under the IOUs of the welfare state, warfare state, and fundamentally unsound (and probably technically bankrupt) international banking system. That's not going to change any time soon. In fact, we are probably in the top of the first inning.

I'm not a trader or forecaster. I'm a long term value investor. I don't know or even care where gold will be next week, month, or even year. I never even try to predict or know things like that. But I am almost certain it will be a LOT higher 10 years from now because our paper money system is doomed.

[acorn54]

I'm not a trader or forecaster. I'm a long term value investor. I don't know or even care where gold will be next week, month, or even year. I never even try to predict or know things like that. But I am almost certain it will be a LOT higher 10 years from now because our paper money system is doomed.


my perspective also-however i don't focus on gold for my nestegg
i believe the future will have paper currency backed by hard assets similiar to what hitler's finance minister did in germany to stabilize the reichsmark.

[Tape Reader]

You read it here first!!! :jump: :jump: :jump: :jump:

Great call! My hat is off to you.

[RaceBookJoe]

DUST was another nice play off of this call, nice job with your GLL.

[tbwinner]

You got in at the right time...great call. Taking some off the table or letting it ride?

[Valuist]

the thing that looks terrible in the metal markets today is the copper. i have no idea what is going on with that metal. usually silver moves with copper. the silver does not look as bad as copper does though. this might be a simple case of divergence going on, and in the big picture, the price of copper has nothing to do with the price of gold!

Bad numbers out of China.

As for gold, it smacks of manipulation by Goldman; shakedown the weak and they'll accumulate at lower levels.

[PaceAdvantage]

Bad numbers out of China.

As for gold, it smacks of manipulation by Goldman; shakedown the weak and they'll accumulate at lower levels.It's not manipulation if they come right out and tell you to short days before the bottom falls out...and you could have made a boatload of money had you listened...

It's been my belief that Gold was way too high for way too long, but I sadly admit I did not short...not when it was near $2000, and not when Goldman said to short...although I wish I had...

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.

[PaceAdvantage]

BTW, how bad is Gold in the muck? Even explosions at the Boston Marathon and possible terrorism implications can't get it to go up...although it did start moving up a bit after the news broke, it's currently right back down again...less than $20 from its low of $1337 on the day...

[highnote]

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.


Same here. Much better to have guns and ammo, canned food, lighters and other survival things.

According to survivors of the Bosnia/Croatia war, lighters and ammo were very valuable and could be traded for nearly anything.

There are a lot of things more valuable than gold -- especially in a crisis.

[Saratoga_Mike]

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.

This is an obvious, yet brilliant point that the goldbugs never really comprehend.

...cue lambo.

...if you really think the US dollar is going to hell and you want to be able to flee the country with your wealth, buy diamonds!

[PaceAdvantage]

BTW, CME just hiked Gold and Silver margins...by 19%...effective close of day Tuesday...guess that means more selling by those who can't keep positions open...

[Saratoga_Mike]

Plot gold in real terms (inflation-adjusted) from 1913 to today - what do you find? Gold -- over 3 standard deviations from the mean. But hey goldbugs can go with their "gut" feel. I like facts and numbers.

[johnhannibalsmith]

...

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.


I don't get it either. I guess you need a gun or ten too because even if they are absolutely correct, I gotta think you'll need to actually have the physical target on your back in your possession. I think I'd be more inclined to stock up on those enormous Costco sized boxes of Pop Tarts so they'd at least need a moving van to get a few dollars worth of valuable commodity from me.

[Valuist]

It's not manipulation if they come right out and tell you to short days before the bottom falls out...and you could have made a boatload of money had you listened...

It's been my belief that Gold was way too high for way too long, but I sadly admit I did not short...not when it was near $2000, and not when Goldman said to short...although I wish I had...

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.

We'll see where it is in two or three years. This correction will be long forgotten by then.

[classhandicapper]

It's not manipulation if they come right out and tell you to short days before the bottom falls out...and you could have made a boatload of money had you listened...

It's been my belief that Gold was way too high for way too long, but I sadly admit I did not short...not when it was near $2000, and not when Goldman said to short...although I wish I had...

I still can't figure out for the life of me what all those people who were buying gold all these years plan to do with it should their worst fears be realized and our world currencies turn to shit...when I figure that out, maybe I'll start buying gold.

You are thinking like a trader, not an investor. That's your first mistake. ;)

IMO there's no way to know what gold is worth because the demand is an extraordinary wildcard. That's what makes gold investment so difficult. What you can know is mining costs. If the price is anywhere near mining costs, they will stop looking for it and mining more of the stuff. So the bottom is probably in.

The thing is, the day the US dollar starts collapsing (and IMO that's close to a 100% certainty long term on the current global path), the demand for gold will so far outstrip the supply and the ability of miners to meet it, the price will probably go parabolic.

The point is not so much to be able to transact in it at that time (though that may be possible if you have 1/10th ounce pieces or less). The point is that as your bank savings, bond savings, and other paper assets are being inflated away at even a faster rate than they are now, a portion of your portfolio will be rising in value and cushion the blow.

I mean IMO you sort of have to be borderline retarded to a keep large portion of your net worth in cash or bonds now when interest rates don't even cover the inflation rate (the government is lying about the inflation rate, it's actually higher) and you are taxed on the income. Your real net worth has been evaporating for years in cash and bonds.

So you have to have an alternative.

I have mostly stocks, but I've kept a portion of my savings in gold since it was $400 - $450 and ounce. I plan on buying more soon. The one thing on earth I do not want is government paper (with a few exceptions, but the US is not one of them). Gold is a tough call. Government paper is an easy call. It sucks long term. It's a 100% guaranteed loser in real terms.

[highnote]

What you can know is mining costs. If the price is anywhere near mining costs, they will stop looking for it and mining more of the stuff. So the bottom is probably in.


I have read that mining costs are around $1200 per ounce. So gold could still go down. I agree that it is a good hedge against inflation and eventually inflation will come home to roost due to all those greenbacks that the U.S. has been printing.

[sammy the sage]

BTW, CME just hiked Gold and Silver margins...by 19%...effective close of day Tuesday...guess that means more selling by those who can't keep positions open...

Well pretty DAMN obvious big boys knew that WAS coming AHEAD of time...one of THE reasons I quit trading back in 2007...and I mean everything...

But LONG term...it's ALL good for the gold franetics out there...

You might ask...well go and TRY to buy PHYSICAL Gold at THE new lower price...you WILL NOT be able too...

Just think about that...what it actually means LONG termmmm....

[Magister Ludi]

World jewelry demand comprises about 80 percent of total gold demand. Demand for gold jewelry is highly elastic. The price elasticity of demand of gold jewelry is about -2.6. In other words, when the price of gold jewelry rises by 1% the quantity demanded falls by 2.6%, so jewelry demand is very price sensitive.

In 2012, world gold demand fell 4% to 4405 tonnes. World supply fell 1.4% to 4453 tonnes. Gold is a commodity like any other commodity. There’s no reason why the price of gold can’t fall below its production cost, especially when supply > demand, rate of supply > rate of demand, and the demand for gold is highly elastic.

[Dick Schmidt]

I don't usually trade gold, but I watch it using the Forex trading tools I use as a check on the strength of the major currencies. I got a strong sell signal on January 16. It took me more than a week to set up a commodities trading account (walking in with cash helped) but the price held for almost 3 weeks. On Feb. 5th I shorted at 1683.20. Sold at 1336.36 yesterday when it hit what I consider a major support level. I only had one contract, but it was still a nice hit. Thought about taking it long on the rebound off the low, but decided to short the yen instead. I'll leave that account open with a few dollars in it; gold is easy but trade oppertunities don't come along very often. When I look back, the previous signal generated was almost two years ago.

Dick

I swear by Jupiter Optimus Maximus … in the army of the consul Lucius Quinctius Cincinnatus and for 10 miles around it I will not steal anything worth more than a sestertius in any one day.

[lamboguy]

you mean cover @1335. once gold cracked $1460 i had no number at all for support. there was a major trend line coming in @$1355 and it looks like that was broken as well yesterday. gold could close out either this week or this month over $1480 and you will have a big bar on the chart.. no matter how one looks at it from what ever number they use as the top price of gold, i use $1860 where the printed price is $1920, gold is in some type of a bear market. it will need to get over $1680 to get out of a bear.

the biggest cost in mining gold are the energy prices. oil and electricity should cost less now too. the average cost to mine gold is $1200 per ounce now and that should fall slightly.

[Saratoga_Mike]

you mean cover @1335. once gold cracked $1460 i had no number at all for support. there was a major trend line coming in @$1355 and it looks like that was broken as well yesterday. gold could close out either this week or this month over $1480 and you will have a big bar on the chart.. no matter how one looks at it from what ever number they use as the top price of gold, i use $1860 where the printed price is $1920, gold is in some type of a bear market. it will need to get over $1680 to get out of a bear.

the biggest cost in mining gold are the energy prices. oil and electricity should cost less now too. the average cost to mine gold is $1200 per ounce now and that should fall slightly.

I don't think that's correct.

[lamboguy]

you mean cover @1335. once gold cracked $1460 i had no number at all for support. there was a major trend line coming in @$1355 and it looks like that was broken as well yesterday. gold could close out either this week or this month over $1480 and you will have a big bar on the chart.. no matter how one looks at it from what ever number they use as the top price of gold, i use $1860 where the printed price is $1920, gold is in some type of a bear market. it will need to get over $1680 to get out of a bear.

the biggest cost in mining gold are the energy prices. oil and electricity should cost less now too. the average cost to mine gold is $1200 per ounce now and that should fall slightly.

I don't think that's correct.
http://goldnews.bullionvault.com/gold-mining-all-in-costs-031220132the raw cost to mine the tough to get out of the mine is in the $850 range. but mining company's include the cost of roads and schools that they have to build and other costs to operated in the country that they do their business along with tarriffs and taxes.

[Saratoga_Mike]

[QUOTE=Saratoga_Mike]
http://goldnews.bullionvault.com/gold-mining-all-in-costs-031220132the raw cost to mine the tough to get out of the mine is in the $850 range. but mining company's include the cost of roads and schools that they have to build and other costs to operated in the country that they do their business along with tarriffs and taxes.

Ok, you're including cap ex, not just operating costs. Ex cap ex (which is the appropriate way to look at it), the number is much lower.

[lamboguy]

[QUOTE=lamboguy]

Ok, you're including cap ex, not just operating costs. Ex cap ex (which is the appropriate way to look at it), the number is much lower.there is some gold that you can mine for less than $250 per ounce that is part of the topsoil. but there is not that much of that left these days.

you can almost relate gold to the real estate market. there were raw cost's to build homes, during our last real estate crash most of the homes never went below the cost it would take today to build them.
gold is now close to the raw cost to mine it with a very small profit margin.

if one is an investor in gold, its all about demand for the metal.. if Russians, Chineese, Indians and others stop buying the physical, the price will fall. during the last week while gold was in the middle of a Valentines day massacre the premiums to buy physical gold exploded. a United States $50 Buffalo gold coin went from a $40 premium to a $75 premium if you could put your hands on the limited supply. today it has dropped already to $60 premium so the supply must have opened up.

when something takes a free fall like gold has just done, you usually have a pretty good idea who sold it, but you always wonder who are the ones that are buying. this time around there was very little initial selling of physical, once the GLD got hit, there was plenty of physical selling due to the way that fund operates. the market did find buyers for that gold though to prevent the price form dropping even further for the time being.

[PICSIX]

http://www.cnbc.com/id/100739703?__source=yahoo%7Cfinance%7Crelated%7Csto ry%7Cstory&par=yahoo&doc=100741706%7CSoros%20Cut%20Gold%20ETF%20Holdin

[classhandicapper]

More on gold manipulation


http://lewrockwell.com/roberts/roberts395.html

[PICSIX]

Gold sell triggered...projected target $1,224.

[PaceAdvantage]

Wonder if the FED is going to shake things up this week...I wouldn't make a move either way on gold until I see some fallout...

It's mid September...earnings season is almost here again...it's that time of year when the market likes to go down...

And for some reason, the market rocketed up on news that Larry Summers is out of contention to head the FED...which I take as a sign we are seriously topping if junk news like that makes the market go up 100-150 points...but that's just me.

There continues to be little volume support to these up days...then again, last week is always a light volume week with the markets...

I wouldn't be surprised to see the FED trigger something big this week...perhaps a reverse Iron Condor or strangle is in order...

[Marshall Bennett]

I wouldn't be surprised to see the FED trigger something big this week...
Uh huh, like raise interest rates a 1/4% for the sole purpose of saying the economy's recovering. One more smoke screen.

[PaceAdvantage]

Uh huh, like raise interest rates a 1/4% for the sole purpose of saying the economy's recovering. One more smoke screen.Nothing even like that needed. They just need to change a word or two in their statement from last time...lol

By "trigger something big" I mean as in a big move in the markets. Sometimes they only need to sneeze...

[classhandicapper]

Wonder if the FED is going to shake things up this week...I wouldn't make a move either way on gold until I see some fallout...

And for some reason, the market rocketed up on news that Larry Summers is out of contention to head the FED...which I take as a sign we are seriously topping if junk news like that makes the market go up 100-150 points...but that's just me.



The entire global house of cards is being held together by massive monetary stimulus. I believe Larry Summers was considered less dovish than Janet Yellen. So Wall St is happy that we will probably continue to err on the side of money printing when Bernanke is gone which will support stock prices in the short term and make our economy worse in the long term.

[PaceAdvantage]

I understand the reason why the market was happy, but to go up THAT MUCH (btw, it gave most of it back during the day, especially in the NASDAQ) on such speculative news (he's out of the running...wasn't like he was confirmed and wasn't like we KNOW exactly what he would have done) is a little kooky to me...

But maybe I'm that misinformed...

[PICSIX]

I understand the reason why the market was happy, but to go up THAT MUCH (btw, it gave most of it back during the day, especially in the NASDAQ) on such speculative news (he's out of the running...wasn't like he was confirmed and wasn't like we KNOW exactly what he would have done) is a little kooky to me...

But maybe I'm that misinformed...

IMO the markets are definately topping.....the current behavior can continue for several months before we see a significant correction.

Keep your eye on market leaders....when they fail to move higher, look out!

[highnote]

S&P strong the past few days. Guess this was in anticipation of the FED continuing to print money.

Gold and silver stocks jumped up quite a bit higher today. They had been taking a beating, so the rebound is not surprising.

[PICSIX]

S&P strong the past few days. Guess this was in anticipation of the FED continuing to print money.

Gold and silver stocks jumped up quite a bit higher today. They had been taking a beating, so the rebound is not surprising.

You can only pump so much air into an inner tube before it pops!

[PICSIX]

Gold sell triggered...projected target $1,224.

Down we go! :jump: :jump:

[classhandicapper]

Down we go! :jump: :jump:

Yep. If it falls enough you'll have another opportunity to buy a tangible asset at a reasonable price instead of holding that portion of your wealth it worthless paper whose value is 100% certain to be inflated away over the long term.

[lamboguy]

it wasn't that hard to bring gold down today, the buyer's are on a holiday (China). this market along with all the other commodity markets are at the their mercy now.

right now with all the volatility and large price swings, gold is not acting like a currency, its acting as a commodity.

the $17 trillion debt has not gone away yet, and neither has central banks been out in the open market selling their gold.

maybe gold is going to get smacked down pretty quickly to the june low's of $1180, it might even get down to $1050. but no matter what the present US government has done to suppress the price of gold, the market will bring it back to the highs and beyond.


this is what makes a market, there are always bulls and bears in it

[PICSIX]

Drop like a rock, a big heavy gold rock!! :jump: :jump:

[highnote]

Not sure if this has been posted before, but Germany wants their gold repatriated. U.S. says it will take 7 years before all of Germany's gold stored in U.S. can be returned. It will take 7 years because the gold probably doesn't exist. Why else take 7 years to give it back?

Seems to me the powers that be need to drive down the price of gold so they can buy it at a low price and then return it to Germany.

I don't know if this is the case, but there is speculation that this is the case.

[PICSIX]

Freaking congress is going to make me sweat this short out :mad: :mad:

[lamboguy]

Not sure if this has been posted before, but Germany wants their gold repatriated. U.S. says it will take 7 years before all of Germany's gold stored in U.S. can be returned. It will take 7 years because the gold probably doesn't exist. Why else take 7 years to give it back?

Seems to me the powers that be need to drive down the price of gold so they can buy it at a low price and then return it to Germany.

I don't know if this is the case, but there is speculation that this is the case.
Germany just sold some gold. the repatriation of their gold is an old story already, maybe about a year old now. the big question has always been if the gold exists or not in our vaults.

if one uses $700 as the breakout for gold, and $1920 for the top, that would make the .78 retracement down to $1014 gold. on a fundamental idea $1050 makes some sense because that was the last big purchase of gold by India, i highly suspect that China will go in with both hands at that point should it fall that far. that would be the ultimate end to this downtrend, and maybe a multi-year bull run for the metal. the gold market has been highly disappointed since Romney lost the past presidential election. to get going again, it needs a big buyer to come into the market.

[Saratoga_Mike]

Germany just sold some gold. the repatriation of their gold is an old story already, maybe about a year old now. the big question has always been if the gold exists or not in our vaults.

if one uses $700 as the breakout for gold, and $1920 for the top, that would make the .78 retracement down to $1014 gold. on a fundamental idea $1050 makes some sense because that was the last big purchase of gold by India, i highly suspect that China will go in with both hands at that point should it fall that far. that would be the ultimate end to this downtrend, and maybe a multi-year bull run for the metal. the gold market has been highly disappointed since Romney lost the past presidential election. to get going again, it needs a big buyer to come into the market.

Why do you continue to say this? I have no earthly idea where gold is going, but Romney would have appointed much more hawkish Fed members.

[lamboguy]

Why do you continue to say this? I have no earthly idea where gold is going, but Romney would have appointed much more hawkish Fed members.
up until 1973, the united states was on the gold standard until Nixon closed the gold window.

during Romney's campaign, he constantly claimed he wanted to strengthen the economy by stabilizing the currency. i was just taking Romney at face value. i had personally asked one of his economic advisers that i knew from growing up with him, what they planned to do with gold, and he told me that they wanted to fix the price to the dollar. i never thought they could fix the price downward, so i always thought gold would go up if Romney got elected.

he didn't get elected, so we will never know for sure what he would have done or not done. but it ultimately won't make any difference to gold related to the dollar as far as price goes.

[Saratoga_Mike]

up until 1973, the united states was on the gold standard until Nixon closed the gold window.

during Romney's campaign, he constantly claimed he wanted to strengthen the economy by stabilizing the currency. i was just taking Romney at face value. i had personally asked one of his economic advisers that i knew from growing up with him, what they planned to do with gold, and he told me that they wanted to fix the price to the dollar. i never thought they could fix the price downward, so i always thought gold would go up if Romney got elected.

he didn't get elected, so we will never know for sure what he would have done or not done. but it ultimately won't make any difference to gold related to the dollar as far as price goes.

Almost everything above = lower gold prices, but I won't bring it up again, b/c as you say we'll never know for sure

[lamboguy]

Almost everything above = lower gold prices, but I won't bring it up again, b/c as you say we'll never know for sureyou kind of hit the nail on the head with what might have been with Romney should he have been elected. he would have appointed a hawkish type of fed, back when Carter was president, Volker was nothing short of being a hawk, he wound up raising interest rates all the way up to 20% and gold was hitting highs. when he started to lower the rates gold imploded. i was always thinking that Romney was going to have a hawkish fed and a strong dollar policy backed by something.

there is a difference today though, China is now a powerhouse, and they want gold. Romney would have just made it more expensive for them to have instead of this guy giving it away on the cheap. this guy is an out and out dope for giving the gold away and plenty of other things.

[Saratoga_Mike]

you kind of hit the nail on the head with what might have been with Romney should he have been elected. he would have appointed a hawkish type of fed, back when Carter was president, Volker was nothing short of being a hawk, he wound up raising interest rates all the way up to 20% and gold was hitting highs. when he started to lower the rates gold imploded. i was always thinking that Romney was going to have a hawkish fed and a strong dollar policy backed by something.

there is a difference today though, China is now a powerhouse, and they want gold. Romney would have just made it more expensive for them to have instead of this guy giving it away on the cheap. this guy is an out and out dope for giving the gold away and plenty of other things.

Remember Volker came into the Fed to clean up after the disastrous tenures of Burns and Miller (very different set of circumstances than now). By mid-1980, he started increasing rates in a dramatic fashion. And gold, using a monthly close, peaked in late 1980.

[classhandicapper]

Peter Shiff

http://finance.yahoo.com/blogs/talking-numbers/why-gold-surge-just-starting-peter-schiff-183303452.html