38 replies to this topic

[dougie]

you must spend a lot of time watching fox

[dharma]

i have no idea on this "An alleged weapons maker for the Islamic State (IS) claimed that a "radioactive device" has been smuggled into an undisclosed location in Europe, according to an intelligence brief released Monday by the SITE Intelligence Group." -Washington Free Beacon News, Dec9, 2014. dharma

[dharma]

i do think its probable that the miners have put in their lows, not clear on the metals.i will hold off judgement there until feb/march. lots of value in the mining sector. dharma

[johngeorge]

We have come $100 off the low in gold so my thinking is it needs a rest in here. Next major hurdle for gold I see is ~ 1260 and after that it needs to clear 1330. I added a small amount to miners near the lows. No idea on the miners although they have shown strength recently. I am in watchful waiting for now.

[dharma]

well hochberg has made a prediction for gold , he thinks we are entering a B wave . http://www.theaurepo...steven-hochberg . i read him years ago, then he became a fade!
oil is indias main import, lower prices will cause them to experience more economic growth. and improve their accounts deficits. i think some time in 15 the duties on gold imports will be cut.
so far the action is part of a flag pattern, gold is projecting higher. as the plunge protection team teaches the shorts on the broad market who is really in charge.
of course a 10% correction would be healthy.but.............
everyone waiting for the 5 handle on oil.
dharma

[dharma]

the far east, the people have been bent over time and time again. no matter what is said they are bent on putting money into gold.
http://articles.econ...somasundaram-pr
this is the back of the gold bull, which is not far off now. as india grows richer the demand made on the mines will grow.
dharma

[johngeorge]

Go India! I added to my MUX position this am.

[dharma]

well the indian cpi of 4.38 came in way below expectations. their interest rates are over 5% , which i look for them to begin cutting in 15. w/crude oil on the skids an big loans made to the frackers, some of whom are now fracking @ a financial loss . i have to think this will cause some strains to the system , also the fracking states have had the most hirings. the junk market will start to feel 50-60 oil. this will cause strains in the system-"Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, the International Energy Agency said. Global inventories may rise by 297 million barrels in the first half of next year, it said. That could lift stockpiles to 2.87 billion barrels in OECD countries, straining some nations' ability to store, it said." -Bloomberg News, Dec 12, 2014. slowly slowly the gold market will change from bear back to bull. i noticed the banksters changed the limits for gold 100 and 3 for silver , which will set off circut breakers. thus trapping the folks on the wrong side of the move. this also happened in 78.getting caught on the wrong side of a circuit breaker move, causes panic. dharma

[salsabob]

India???

tick, tick, tick...

Gold also came under pressure amid speculation that the tumbling rouble could force the Russian government to sell off part of its sovereign gold holdings to repay debts. The Russian currency was recently down 2.7 per cent at 67.353 against the US dollar and has lost more than half its value against the greenback this year.

"If they're in a situation where they need to liquidate assets, could gold reserves be one of those assets?" Dave Meger, director of metals trading with High Ridge Trading in Chicago, said.

Russia holds the world's fifth-largest gold hoard, up from ninth place five years ago, data from the International Monetary Fund show. Moscow has steadily built up its gold holdings as part of its efforts to diversify its currency reserves away from the dollar in the wake of the financial crisis.

Russia held 37.6 million troy ounces of gold in October, up from 19.537 million ounces in October 2009, IMF data show, and trailing the gold reserves of the US, Germany, Italy and France.

Palladium futures tumbled on similar concerns. Russia is the world's largest palladium producer, and Moscow's steady sales of its stockpile of the metal have been a major source of supply since the fall of the Soviet Union.

Fears that the metal could come to the market in large quantities, like they did during the 1998 Russian crisis, pushed prices down 2.3 per cent to $US784 a troy ounce on the Nymex.

Look to the skies