GOLD

[ReplayRandall]

Originally Posted by badcompany

Still sticking with that call, RR?

<a href="http://s95.photobucket.com/user/thinlizzy21/media/D762405C-42ED-44D3-8EC4-71B41F3253B6_zpsnmzowawl.png.html" target="_blank">http://i95.photobucket.com/albums/l1...psnmzowawl.png

My call stood its ground, now rising into safe territory. BC, at what point did you exit Silver I-shares?

[Tape Reader]

This week’s action in gold and precious metal stocks looks like a possible “island reversal.” Heavy volume, little head way, accompanied by a breakaway gap (needs) to the upside. Anyone else?

[lamboguy]

Originally Posted by Tape Reader

This week’s action in gold and precious metal stocks looks like a possible “island reversal.” Heavy volume, little head way, accompanied by a breakaway gap (needs) to the upside. Anyone else?

it looked good this week, but i am sticking to $1380 to be bullish. today the dollar refused 89, so that is probably why the gold looked so strong, the other good thing today was that the contract closed about $1180, maybe some resistance around $1245

[badcompany]

Originally Posted by ReplayRandall

My call stood its ground, now rising into safe territory. BC, at what point did you exit Silver I-shares?

Got taken out a week ago, with a small profit. My SPY trade got stopped out, too. That one was sweet, almost 10% in 3 weeks.







IMO, stilll way too early to tell if the Silver is for real, or yet another short squeeze.

If you do jump the long side, good luck.

[badcompany]

Looks like more pain for the Gold bugs:

Swiss Say ‘No’ to Measure Forcing SNB to Acquire More Gold
By Catherine Bosley
November 30, 2014 12:18 PM EST

Swiss voters rejected a referendum requiring their central bank to hold a portion of its assets in gold, a measure its President Thomas Jordan termed an “invitation to speculators” that could have hamstrung the economy.

The “Save Our Swiss Gold” proposal stipulating the Swiss National Bank hold at least 20 percent of its 520-billion-franc ($540 billion) balance sheet in gold and never sell any bullion was voted down by 77 percent to 23 percent, the government said. Polls had forecast the initiative’s rejection. Two other initiatives on tax privileges for foreign millionaires and immigration limits also were rejected.

SNB policy makers warned repeatedly that the measure, which also required the 30 percent of central bank gold stored in Canada and the U.K. to be repatriated, would have made it harder to keep prices stable and shield the central bank’s cap on the franc of 1.20 per euro. That minimum exchange rate was set three years ago, with the SNB pledging to buy foreign currency in unlimited amounts to defend it.

“The key word is relief, but it’s not a reason to crack the champagne corks yet,” said Janwillem Acket, chief economist at Julius Baer Group Ltd. in Zurich. Due to the rejection, “the SNB has more options and fewer constraints on monetary policy,” he said.

The SNB said in a statement it was “pleased to hear of the outcome.”

[so.cal.fan]

http://armstrongeconomics.com/2014/1...n-referendums/



Very interesting take here......

[badcompany]

Now, that's not pretty!

[PaceAdvantage]

Downright ugly for gold this month...rate hikes right around the corner...

[classhandicapper]

I bought some more CEF. Have to get it now when everyone thinks there's going to be a rate hike and the economy is strong. When the economy starts to weaken and there is talk of another recession and more QE (which seems inevitable eventually), it will already be too late to buy gold. It's already selling for less than the cost of mining it at a lot of mines.

[_______]

Commodities overall seem to be a difficult space. As an investor in the energy sector, I understand bottom fishing.

But I would question a decision to jump into something no one needs in a possibly deflationary era.

We might both be screwed. But I would rather be invested in something people actually need.

I think the economy will probably be okay to pretty good in the short term. But I'll be looking to exit my overweight in the sector if that's true. And if things go seriously south, I'd still want to be holding a refiner or pipeline company than what no one actually needs.

[Robert Goren]

Originally Posted by classhandicapper

I bought some more CEF. Have to get it now when everyone thinks there's going to be a rate hike and the economy is strong. When the economy starts to weaken and there is talk of another recession and more QE (which seems inevitable eventually), it will already be too late to buy gold. It's already selling for less than the cost of mining it at a lot of mines.

For your sake, I hope you are correct, But I see a recession and more QE as something that further drop the price of Gold and other commodities. If we have a recession and I think we will( the rest of the world is in one, we can't avoid it forever) , I see Gold as going under $800. I see oil under $25. Everybody banked on China as driver of the economy and it is clear now, things are amiss over there in a big way. Whether we like it or not, We are in a global economy and we can not fix its ills. The best we can do is put some Band-Aids on parts of ours.

[lamboguy]

Originally Posted by Robert Goren

For your sake, I hope you are correct, But I see a recession and more QE as something that further drop the price of Gold and other commodities. If we have a recession and I think we will( the rest of the world is in one, we can't avoid it forever) , I see Gold as going under $800. I see oil under $25. Everybody banked on China as driver of the economy and it is clear now, things are amiss over there in a big way. Whether we like it or not, We are in a global economy and we can not fix its ills. The best we can do is put some Band-Aids on parts of ours.

if you happen to be right about the world recession, gold will go to about $8000 per ounce and probably more.

[reckless]

Those investors and traders who view gold as a commodity may see the metal reach $800 as Robert Goren suggests.

But, if those investors and traders view gold as a currency, then gold could reach $8,000 as lamboguy suggests.

[lamboguy]

forget what i say or think, i just saw a 13f filing and Stanley Drukenmiller went in for 2.8 million shares of GLD.

this is the first time uncle Stan has made a move on gold, for those that don't know him, he was partner's with George Soros when they took the English pound apart

[ReplayRandall]

Originally Posted by lamboguy

forget what i say or think, i just saw a 13f filing and Stanley Drukenmiller went in for 2.8 million shares of GLD.

this is the first time uncle Stan has made a move on gold, for those that don't know him, he was partner's with George Soros when they took the English pound apart

He's taking a big swing at other tempting offerings as well:

http://www.businessinsider.com/druck...-shares-2015-8