Gold prices- take a guess
- Thread starter cubiczirconia
- Start date
bondtrader
New member
[quote author="bondtrader"]For Dow, the 200day moving average is around 9500, I will guess that level should provide some good support, just like 1020 on S&P. If we shot right through then, watch out below. I believe we might close green today and start rally back up a little next week before the big drop again. [/quote]
What a turn around. Panda, good pick up yesterday, I will let you know when I'm out (PCU, DGP, AUY,XME), eyeing for Dow 10150-10200 for the next top.
What a turn around. Panda, good pick up yesterday, I will let you know when I'm out (PCU, DGP, AUY,XME), eyeing for Dow 10150-10200 for the next top.
morekaos
Well-known member
[quote author="morekaos"]I don't particularly like the guy but some people listen to him..
http://www.telegraph.co.uk/finance/finan....t e-bubble.html
Davos 2010: George Soros warns gold is now the 'ultimate bubble'
Gold is now "the ultimate bubble", billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.
[/quote]
This is why I hate guys like Soros. He speak with forked tongue...
http://finance.yahoo.com/news/Soros-Doub....5&asset=&ccode=
"Soros Doubles Down on Gold"
Doesn't surprise me or change my views just reinforces my cynicism.
http://www.telegraph.co.uk/finance/finan....t e-bubble.html
Davos 2010: George Soros warns gold is now the 'ultimate bubble'
Gold is now "the ultimate bubble", billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.
[/quote]
This is why I hate guys like Soros. He speak with forked tongue...
http://finance.yahoo.com/news/Soros-Doub....5&asset=&ccode=
"Soros Doubles Down on Gold"
Doesn't surprise me or change my views just reinforces my cynicism.
panda
Well-known member
Everything going on right makes me feel like we are in for an ultra deflationary environment of 1930s than the hyper inflationary environment of 1980s.
One thing that scares me about gold is the 30 year commodity cycle. Every 30 years commodites have peaked from 1920, 1950, 1980, and we are now in 2010. I know everyone is saying this bull market in Gold is only 1/2 way and it continue for many many years, I am not too sure about that. The Gold started to rise 9 years ago from 2001. In 2010.. the name of the game is not to lose money. You may be completely screwed by being in 100% cash this year and you may also lose your shirt by being 100% in gold and silver. This year is a very interesting year for the markets. We shall see what unfolds. <!-- s
--><!-- s -->
cubiczirconia
New member
A good mix always helps. One of the four- housing, cash, commodities or stocks has to be a good bet
panda
Well-known member
IMF to sell 191.3 tonnes of gold on market 'shortly'
(AFP) ? 19 hours ago
WASHINGTON ? The International Monetary Fund said Wednesday it was ready to sell 191.3 tonnes of gold on the market in a bid to reduce its dependence on lending revenue.
At Wednesday's market price of about 1,120 dollars an ounce, the gold to be sold would be worth nearly 6.9 billion dollars.
The fund "will shortly initiate the on-market phase of its gold sales program" of a total 403.3 tonnes approved for sale last September, the Washington-based institution said in a statement.
The initial phase was set aside exclusively for off-market sales to public entities, such as central banks, among the IMF's 186 members.
A combined 212 tonnes was sold during that first phase -- more than half the approved total -- snapped up by the central banks of India, Mauritius and Sri Lanka.
India, the first customer, bought 200 tonnes, followed by Mauritius (two tonnes) and Sri Lanka (10 tonnes).
The IMF said that the 212 tonnes of gold sold off-market to date have fetched 7.2 billion dollars, generating profits of about 4.5 billion dollars compared with the price assumed when the gold sale was approved.
The average price of the gold sold off-market was 1,050 dollars an ounce, sharply topping the 850 dollars penciled in.
As for what would be done with the additional revenues, Andrew Tweedie, the fund's finance director, said in the statement that "it is probably a little early to speculate," given the remaining gold to be sold.
"We still need to see what happens to the gold price during the second half of the sale before we can conclude that we have additional revenues."
The IMF underscored that gold sales were still available to state entities.
"The initiation of on-market sales does not preclude further off-market gold sales directly to interested central banks or other official holders," it said.
IMF members agreed in 2008 that the fund could sell an eighth of its gold assets in order to diversify its financial model so that it no longer relies on lending.
Profits from the sales will be used to create an income-generating endowment that is part of the revamped IMF income model.
"In accordance with the priority of avoiding disruption of the gold market, the on-market sales will be conducted in a phased manner over time," in line with an approach used by central banks to avoid market disruptions, the IMF said.
Certain banks participating in the Central Bank Gold Agreement have said the IMF gold sales can be accommodated under the agreed ceilings of 400 tonnes annually and 2,000 tonnes in total over the five years that started on September 27, 2009, the fund noted.
(AFP) ? 19 hours ago
WASHINGTON ? The International Monetary Fund said Wednesday it was ready to sell 191.3 tonnes of gold on the market in a bid to reduce its dependence on lending revenue.
At Wednesday's market price of about 1,120 dollars an ounce, the gold to be sold would be worth nearly 6.9 billion dollars.
The fund "will shortly initiate the on-market phase of its gold sales program" of a total 403.3 tonnes approved for sale last September, the Washington-based institution said in a statement.
The initial phase was set aside exclusively for off-market sales to public entities, such as central banks, among the IMF's 186 members.
A combined 212 tonnes was sold during that first phase -- more than half the approved total -- snapped up by the central banks of India, Mauritius and Sri Lanka.
India, the first customer, bought 200 tonnes, followed by Mauritius (two tonnes) and Sri Lanka (10 tonnes).
The IMF said that the 212 tonnes of gold sold off-market to date have fetched 7.2 billion dollars, generating profits of about 4.5 billion dollars compared with the price assumed when the gold sale was approved.
The average price of the gold sold off-market was 1,050 dollars an ounce, sharply topping the 850 dollars penciled in.
As for what would be done with the additional revenues, Andrew Tweedie, the fund's finance director, said in the statement that "it is probably a little early to speculate," given the remaining gold to be sold.
"We still need to see what happens to the gold price during the second half of the sale before we can conclude that we have additional revenues."
The IMF underscored that gold sales were still available to state entities.
"The initiation of on-market sales does not preclude further off-market gold sales directly to interested central banks or other official holders," it said.
IMF members agreed in 2008 that the fund could sell an eighth of its gold assets in order to diversify its financial model so that it no longer relies on lending.
Profits from the sales will be used to create an income-generating endowment that is part of the revamped IMF income model.
"In accordance with the priority of avoiding disruption of the gold market, the on-market sales will be conducted in a phased manner over time," in line with an approach used by central banks to avoid market disruptions, the IMF said.
Certain banks participating in the Central Bank Gold Agreement have said the IMF gold sales can be accommodated under the agreed ceilings of 400 tonnes annually and 2,000 tonnes in total over the five years that started on September 27, 2009, the fund noted.
panda
Well-known member
Fed Raises Discount Rate to 0.75% From 0.50%
http://www.cnbc.com/id/35465481
My My My what do have here? The Fed raises discount rate... coming soon the FED rate will follow. All i have to say is that it is about time!
http://www.cnbc.com/id/35465481
My My My what do have here? The Fed raises discount rate... coming soon the FED rate will follow. All i have to say is that it is about time!
cubiczirconia
New member
[quote author="Panda "]
[quote author="Cubic Zirconia"]A good mix always helps. One of the four- housing, cash, commodities or stocks has to be a good bet
[/quote]
Yup.. it is like picking both heads and tail when you flip a coin. <!-- s --><!-- s -->[/quote]
Going by today's news, heads I lose, tails I still lose
[quote author="Cubic Zirconia"]A good mix always helps. One of the four- housing, cash, commodities or stocks has to be a good bet
[/quote]
Yup.. it is like picking both heads and tail when you flip a coin. <!-- s
--><!-- s -->[/quote]Going by today's news, heads I lose, tails I still lose
panda
Well-known member
wow! look at the dollar surge to 81.3. Gold and Silver is getting slaugthered in the Asian markets. MoreKaos, how probable do you think it is that gold will break thru the $1000 support?
It is sort of the funny to see what you hear on the news is full of B.S. Next thing is the FED rates are going to rise.
It is sort of the funny to see what you hear on the news is full of B.S. Next thing is the FED rates are going to rise.
1994? I think that when all of the extraordinary measures the government is taking eventually end, we are looking at a 1937 scenario. The business cycle is what it is because of human nature, and all of the deficit spending in the world can't change that. Putting off problems does not eliminate them.
That having been said, I think the surprise rate hike is a reaction to the very hot PPI numbers that came out this morning. But I don't believe that we are going to have a tight monetary policy any time soon. ( Raising the discount rate from .5 to .75 can hardly be considered tightening )
The real question is "How long will it be before the Fed panics and re-institutes the QE programs it is supposedly about to exit?" I personally believe that the end of the mortgage buy back programs next month combined with the impact on mortgage rates (they will go up by about 100 basis points) and housing prices (they will go down) will cause another round of the government trying to prevent the inevitable.
That having been said, I think the surprise rate hike is a reaction to the very hot PPI numbers that came out this morning. But I don't believe that we are going to have a tight monetary policy any time soon. ( Raising the discount rate from .5 to .75 can hardly be considered tightening )
The real question is "How long will it be before the Fed panics and re-institutes the QE programs it is supposedly about to exit?" I personally believe that the end of the mortgage buy back programs next month combined with the impact on mortgage rates (they will go up by about 100 basis points) and housing prices (they will go down) will cause another round of the government trying to prevent the inevitable.
morekaos
Well-known member
Why Gold�s Rally May Be a Short One
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0
[quote author="morekaos"]Why Gold�s Rally May Be a Short One
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0[/quote]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0[/quote]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.
morekaos
Well-known member
[quote author="iceman"]
[quote author="morekaos"]Why Gold�s Rally May Be a Short One
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0[/quote]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.[/quote]
Are you willing to bet on it?
[quote author="morekaos"]Why Gold�s Rally May Be a Short One
The smart money remains gaga for gold but veteran technicians, eyeballing the charts, think the yellow metal's recent pop could be punctured.
http://finance.yahoo.com/news/Why-Golds-Rally-May-Be-a-minyanville-1970667903.html?x=0[/quote]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.[/quote]
Are you willing to bet on it?
[quote author="morekaos"]
[quote author="iceman"]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.[/quote]
Are you willing to bet on it?[/quote]
Sure, but nothing to big. How about a mocha latte at Starbucks? Before my father passed away he gave me a few dozen gold coins that I have put away in a safety deposit box so I occasionally keep an eye out on the current gold price.
[quote author="iceman"]
I personally think that gold will remain in a 1,000 to 1,150 trading range for the rest of this year.[/quote]
Are you willing to bet on it?[/quote]
Sure, but nothing to big. How about a mocha latte at Starbucks? Before my father passed away he gave me a few dozen gold coins that I have put away in a safety deposit box so I occasionally keep an eye out on the current gold price.