22 replies to this topic

[dharma]

Dharma, I am curious what your forecast is from here? Senor thinks 960 is minimum and it could be mucho, mucho lower than that.

NO BS

Senor

i am actually looking @the possibility of 8-850 over the next weeks. its why i think it will be a back the truck up event. it is a wave 2. and we all know what that usually means. but, after this gold will, i believe show its hand and will leave 1k in the rear view mirror.
one interesting , or @least i find interesting tid bit, china is considering stopping the exportation of gold and silver. and they are a major producer.w/o supply prices must rise. of course the paper market is much bigger than the physical market
dharma

Edited by dharma, 18 September 2009 - 11:19 AM.

[johngeorge]

Bought DZZ this am. So far showing a profit albeit small. Plan to hang onto this and perhaps add to it on any move North by gold in the immediate future. Kudos to both Senor and dharma. We are all so very fortunate to have them as active posters on this board. For myself I can tell you they have both put many pesos in my pocket over the years. Gracias amigos. Best to you.

Edited by johngeorge, 18 September 2009 - 11:36 AM.

[senorBS]

Dharma, I am curious what your forecast is from here? Senor thinks 960 is minimum and it could be mucho, mucho lower than that.

NO BS

Senor

i am actually looking @the possibility of 8-850 over the next weeks. its why i think it will be a back the truck up event. it is a wave 2. and we all know what that usually means. but, after this gold will, i believe show its hand and will leave 1k in the rear view mirror.
one interesting , or @least i find interesting tid bit, china is considering stopping the exportation of gold and silver. and they are a major producer.w/o supply prices must rise. of course the paper market is much bigger than the physical market
dharma

Gracias, I did not think you at all thought that big a decline was coming, Senor agrees with you about 850, Senor think it is 50/50 whether we stop there.

BSing way

Senor

[dharma]

Dharma, I am curious what your forecast is from here? Senor thinks 960 is minimum and it could be mucho, mucho lower than that.

NO BS

Senor

i am actually looking @the possibility of 8-850 over the next weeks. its why i think it will be a back the truck up event. it is a wave 2. and we all know what that usually means. but, after this gold will, i believe show its hand and will leave 1k in the rear view mirror.
one interesting , or @least i find interesting tid bit, china is considering stopping the exportation of gold and silver. and they are a major producer.w/o supply prices must rise. of course the paper market is much bigger than the physical market
dharma

Gracias, I did not think you at all thought that big a decline was coming, Senor agrees with you about 850, Senor think it is 50/50 whether we stop there.

BSing way

Senor

i am open, i better be. i have raised cash . i have 1 tiny position in my trading account. so i am prepared, should a big decline develop. as long as they have control it will be a tug of war. their control will end. and then like last time, @some point they will change the rules. , but i expect much much higher prices 1st.
its a wave 2 is that where you are as well?
dharma

[IndexTrader]

I'm still holding long Dec gold futures and long NEM. Futures are higher, and NEM is about the same as when Senor first was getting beared up. All this looks corrective to me.

IT

I have 60% of bear position in HGD which I bought at 3 different times this week, all into the XAU norte spikes, I am ahead on all positions, and with cinco down in XAU I like what these old eyes see. Best of luck to you.

BSing away

Senor

I was referring to the UUP you said you bought the morning of the 9th. No way you're up on that. I don't know what else you've done.

IT

[SemiBizz]

December gold took out the hourly swing low on volume this morning...

Edited by SemiBizz, 18 September 2009 - 12:32 PM.

[senorBS]

I'm still holding long Dec gold futures and long NEM. Futures are higher, and NEM is about the same as when Senor first was getting beared up. All this looks corrective to me.

IT

I have 60% of bear position in HGD which I bought at 3 different times this week, all into the XAU norte spikes, I am ahead on all positions, and with cinco down in XAU I like what these old eyes see. Best of luck to you.

BSing away

Senor

I was referring to the UUP you said you bought the morning of the 9th. No way you're up on that. I don't know what else you've done.

IT

I exited very soon at a small loss, don't know if I posted that or not.

Senor

[johngeorge]

December gold took out the hourly swing low on volume this morning...

Great chart! Thanks SemiBizz.

[SilentOne]

December gold took out the hourly swing low on volume this morning...

Thanks Semi for posting your volume analysis. Much appreciated. Great posts yesterday too.

cheers,

john

http://www.traders-t...mp;#entry483528

[SemiBizz]

Somebody always knows, don't they?

IMF takes up gold sales to expand lending

WASHINGTON — The International Monetary Fund's executive board on Friday was discussing selling some of the fund's gold to provide low-interest loans to poor countries and shore up its internal finances.

The move, authorized by the G-20 countries at their summit in London in April, has been long expected and discounted by commodity markets, where the price of gold has been rising amid fears of a weakening dollar and a resurgence of inflation.

The key question for the markets is whether the IMF will sell its gold in auction over a set period of time to get the best price or let central banks from member governments buy it. China, India and Russia, eager to reduce their position in dollar-denominated securities, have expressed interest in buying IMF gold.

IMF officials have said repeatedly the sale will be carried out in a way that does not disrupt the market and in coordination with European central banks, who agreed last month on amounts of gold they will sell during the next five years.

The IMF, a 186-nation Washington-based lending institution, is the third-largest official holder of gold in the world after the United States and Germany.

The IMF is planning to sell about one-eighth of its gold, the equivalent of nearly 13 million ounces, worth roughly $13 billion at current market prices.

The IMF decision comes in advance of next week's G-20 summit in Pittsburgh, Pa., and the fund's annual meeting early next month in Istanbul.

In April, the G-20 agreed on the gold sale as part of efforts to provide up to $6 billion in concessional loans to low-income countries.