45 replies to this topic

[johngeorge]

big implications

By Allen Sykora Dow Jones Newswires

1:55 p.m. CDT, October 19, 2009




A move by CME Group Inc. to allow gold to be used as collateral for margin requirements on all exchange products raises the profile of the metal, but the development probably will not mean a significant increase in demand for physical gold itself, analysts said.

The new global policy became effective Monday in accordance with a member's note issued late Friday, said a CME spokesman in London.

"I guess that would show gold has moved more into an asset class than anybody would have ever thought," said Charles Nedoss, senior account manager and metals analyst with Peak Trading Group.

Sterling Smith, commodity trading advisor and analyst with Country Hedging, called the change a "mild endorsement of gold." And, he said, it might be viewed as effectively another "thump" against the U.S. dollar and paper currencies in general
http://www.chicagotr...,0,416480.story
dharma

dharma

Thanks for that "tidbit". Could well be that opens the doors.

Best to you.

[dharma]

gold stays above its previous high of 1033, displaying strength. i am 85% long but not adding. watching. and wanting to add dharma

[johngeorge]

Bought a position in UYM this am. Now approximately 30% long so will bail out if it turns against me. Balance in cash. Got a sell signal 10/15 @ 103 on GLD. Best to you.

Edited by johngeorge, 21 October 2009 - 09:24 AM.

[dharma]

added to cheasapeake gold-chpgf dharma

[dougie]

added to cheasapeake gold-chpgf
dharma

why you like it in here dharma: chart doesnt show much?

[dharma]

added to cheasapeake gold-chpgf
dharma

why you like it in here dharma: chart doesnt show much?

the monthly is the only chart that looks good.
its a name that i want to be in, so i added it yesterday.
dharma

[dharma]

i am and have been looking for a correction in past bull the shares led and the metal followed in this bull @times the shares lead and @times the metal shares heading down now and metal fairly firm 1033 is the old high , a correction that holds that level will lead to much higher prices. waiting w/my cash. hoping to be able to redeploy it. watching for clues lots of patience. as i have said i see some weakness end of nov as well dharma

[IndexTrader]

i am and have been looking for a correction
in past bull the shares led and the metal followed
in this bull @times the shares lead and @times the metal
shares heading down now and metal fairly firm
1033 is the old high , a correction that holds that level will lead to much higher prices.
waiting w/my cash. hoping to be able to redeploy it. watching for clues
lots of patience. as i have said i see some weakness end of nov as well
dharma

Wild day in the futures today....almost a $19 range. Took out a two day high, then took out yesterdays low. Alot of volatility.

IT

[dharma]

i am and have been looking for a correction
in past bull the shares led and the metal followed
in this bull @times the shares lead and @times the metal
shares heading down now and metal fairly firm
1033 is the old high , a correction that holds that level will lead to much higher prices.
waiting w/my cash. hoping to be able to redeploy it. watching for clues
lots of patience. as i have said i see some weakness end of nov as well
dharma

Wild day in the futures today....almost a $19 range. Took out a two day high, then took out yesterdays low. Alot of volatility.

IT

i think volatility will be increasing .
dharma

[dharma]

gold still holding its previous high, starting to look like this consolidation is gaining strength for another assault. will start to accumulate weakness as long as 1033 holds. according to hulbert, gold advisors are not participating. remember this is a bull market, and sooner or later it will resolve to the upside. dharma