44 replies to this topic

[dharma]

to me this has the feel of april 13, w/india out of the market , the demand side is not strong enough to keep the price up. yes it is the chinese new years. today mercury goes direct. we have had the bounce, now its down into the new moon. then, there could be some anticipation of the new indian budget . and a reduction in the gold tariff if that was a 1 , we are now below that high, so the only hope is a 1-2 1-2 which is not out of the question, but not very promising. back to the bunker dharma

[dougie]

1-2 1-2 punch is more likely

to me this has the feel of april 13, w/india out of the market , the demand side is not strong enough to keep the price up. yes it is the chinese new years. today mercury goes direct. we have had the bounce, now its down into the new moon. then, there could be some anticipation of the new indian budget . and a reduction in the gold tariff
if that was a 1 , we are now below that high, so the only hope is a 1-2 1-2 which is not out of the question, but not very promising.
back to the bunker
dharma

[dharma]

i found this interesting, even though i dont know if its true or not
http://kingworldnews...idated-minutes/
dharma

[dharma]

shanghail delivery shatters all previous records at 28.12 tonnes! yes, the chinese have continued to buy gold dharma

[goldfungus]

shanghail delivery shatters all previous records at 28.12 tonnes!
yes, the chinese have continued to buy gold
dharma

They're so dumb. Don't you know you just print your way to prosperity?

[dougie]

all the gold and peer moving east. manchrian candidate 2

[dharma]

hourlies oversold the 17is the new moon. next week is the chinese new years and the market will be closed for the week. so, w/india on the shelf and the chinese markets closed the banksters rule , caution @the least "Dubai: The Dubai Gold & Commodities Exchange (DGCX) said on Wednesday the total contracts traded jumped 22 per cent in January to 1,176,111 contracts, pointing to robust start to the year. The metals segment was the main driver of volume growth, growing 24 per cent month-on-month with 55,661 contracts traded. DGCX's flagship product, Gold Futures led the growth, trading 47,206 contracts in January, up by 13 per cent month-on-month and 23 per cent year-on-year, the exchange said in a statement." - Gulf News, Feb 11, 2015. i like for dubai to be a major driver for gold down the road then this "We keep noticing that gold is coming back into favor with investors," Vontobel Chief Executive Officer Zeno Staub, 45, told reporters Wednesday after the Zurich-based company announced full-year earnings. ' - Bloomberg News, Feb 11, 2015. "The domestic (Indian) gold jewellery demand rose by 8 per cent to an all-time high of 662 tonnes in 2014 on strong purchases for weddings and festivals. The robust demand comes despite tighter gold import rules, some of which were removed only in the latter part of 2014." -Business Today News, Feb 12, 2015. the east is where price discovery will come from. for now not so much dharma

[dougie]

in the big picture, i don't think the masters of the universe will be happy till they force everyone out and can load up on the cheap one ore time. How low can she go though, with too many clearly aware that their is no OZ

[johngeorge]

http://www.jsmineset.com/

"Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in a report Thursday. Based on the average price of gold in 2014, central banks probably paid about $19.4 billion."

"Central banks have added to gold reserves for the past five years, a reversal from two decades of selling since the late 1980s. Purchases will be at least 400 tons this year, according to estimates from the London-based council, which represents 17 gold producers. Total demand for gold fell last year as Chinese consumers bought less jewelry, bars and coins."

"Russia was the biggest buyer of gold, while Ukraine sold the most as fighters from both countries clashed along Ukraine’s eastern border."

dougie

I should think the CB's are interested in buying the most gold for the least amount of dollars and are buying gold for good reasons. Could be a reset of gold pricing along with a new international currency? I don't know, but, as long as they continue to be buyers it maybe a good idea to be a buyer also. My charts say gold miners are still on a short term sell so they may have more downside before moving higher for a trade. I am also looking to add some AEM to my small core holding. Certainly would like to own more of that miner. Like gannman says I too believe AEM is a top tier company.

[dharma]

next week is the chinese new year holiday. couple that w/india in wait and see mode, i think weight to be put on the market next week then the new moon on the 17th adds up to possible lower prices. so, i am in the bunker dharma