25 replies to this topic

[SemiBizz]

Just one more thing I will note... We have a 4 year Ganniversary coming up for gold on 12/3 We could see a big ZAPP there. The last low 114.68 GLD is wide open to be tested per "last day of extreme volume" low. So far I'm not impressed with this bounce.

[Rogerdodger]

I've never understood how price movement does not have a snowball effect with ETF buying or selling accordingly.
47 metric tons in November had to go somewhere.

SPDR Gold Trust Holdings Fell Nine Metric Tons Last Week
Preliminary Gold ETP November Data Show Outflows Of 47 Metric Tons- Barclays
Monday December 2, 2013 9:27 AM
http://www.kitco.com...ecember-02.html

"Preliminary data for November shows that gold exchange-traded-product holdings saw outflows of 47 metric tons, a similar pace to October, says Barclays. “Total metal held in trust has hit a fresh low since May 2010. In our view, if equity markets remain firm and if prices breach $1,200 (an) ounce, the weakness is likely to be exacerbated, given additional holdings become loss-making,” they say"

Edited by Rogerdodger, 02 December 2013 - 10:16 AM.

[dougie]

47 metric tons in November had to go somewhere enquiring minds want to know whose deep pockets

[senorBS]

Just one more thing I will note...

We have a 4 year Ganniversary coming up for gold on 12/3

We could see a big ZAPP there.

The last low 114.68 GLD is wide open to be tested per "last day of extreme volume" low.

So far I'm not impressed with this bounce.

given today's action that Dec.3 day will be muy interesting

Senor

[senorBS]

Just one more thing I will note...

We have a 4 year Ganniversary coming up for gold on 12/3

We could see a big ZAPP there.

The last low 114.68 GLD is wide open to be tested per "last day of extreme volume" low.

So far I'm not impressed with this bounce.

well Semi here's your day and we did see new lows and in some case new 5 yr lows in some miners and lowest levels in many since the months after the 2008 bottom, muy interesting time frame


Senor

[Russ]

Last Sept. David Bensimon said he was looking for a very important pivot date by Dec. 6 which if gold broke below 1365 would produce a low of $1090.

Eric Hadik has been calling for a final low by the end of December.

Martin Armstrong is looking for most likely the final low by early 2014.

A couple of months ago I posted a prediction for a silver low in late December which was the opposite of my gold prediction which I have now changed to agree with the silver low, so December should see some kind of capitulation low in gold and silver.

http://www.kitco.com...00-Gold-By-2014

[andiron]

still fooling around w/ gold...above 1240s or so I may add to trimmed longs..

[SemiBizz]

From Wednesday's Gold Forecast:

Tuesday did not produce a washout in the gold contract, and these Ganniversary dates do not aways produce an echo on time, so to speak and we usually expect 1-3 days leeway - so it's entirely possible we could still see that echo. Moving along, we had a sideways day in the contract with a little lower low at 1215, with volume about the same. We have no changes to the current guidance - Tuesday looks like a setup day.

[senorBS]

From Wednesday's Gold Forecast:

Tuesday did not produce a washout in the gold contract, and these Ganniversary dates do not aways produce an echo on time, so to speak and we usually expect 1-3 days leeway - so it's entirely possible we could still see that echo. Moving along, we had a sideways day in the contract with a little lower low at 1215, with volume about the same. We have no changes to the current guidance - Tuesday looks like a setup day.

is the "Ganniversary" strictly on gold contract and not the miners?

Senor

[SemiBizz]

From Wednesday's Gold Forecast:

Tuesday did not produce a washout in the gold contract, and these Ganniversary dates do not aways produce an echo on time, so to speak and we usually expect 1-3 days leeway - so it's entirely possible we could still see that echo. Moving along, we had a sideways day in the contract with a little lower low at 1215, with volume about the same. We have no changes to the current guidance - Tuesday looks like a setup day.

is the "Ganniversary" strictly on gold contract and not the miners?

Senor

12/4 on the XAU.