143 replies to this topic

[goldfungus]

bulls seem to be in trouble
cant generate even a bounce.
market is weighty
will the bears generate another 50 take down right before shanghai opens?
stay tuned
dharma

Gold is probably the only thing you're allowed to short in China. LOL

[dharma]

what i see fwiw is gold is declining on less and less volume. i dont think anything happens till the jobs #s are out friday
the banksters are all sitting on their qe bounty, they have not been lending out the money . money velocity has gone below the depression levels. http://gracelandupdates.com/.../20...015aug5fed1.png all the folks yelling about hyperinflation are pissing into the wind! w/o money velocity
there will never be inflation.
yes, rising interest rates will end the decline in velocity of money and in spite of all the jabbering, the chart i posted a few days back shows clearly rising rates
are bullish for gold . tough to say if we finished the decline or not or if there is one more decline in store. but, what i do know the biggest bargains out there are
the miners. not the explorers more of them will be flushed down the toilet, no cash on hand and low gold prices are not what makes them perk. we are in the cost of \
production zone for many miners. they will be forced as are the frackers to either shutter or use their high grade which sets up the bull phase whenever it develops
be cautious and dont be in a rush. gann said after the 1st rally buying the higher low pullback is the safest. so far that has not really occurred. that gold futures seasonal chart i had posted has this time window for the 3rd low(june, july, and august) . soon the indian buying season will begin. and the indians have over the last 2 months stepped up their buying -the official #s i saw was 155 tons for june and july, yes there have been good monsoons.
@some point down the road i expect the physical markets, which now exist to dictate price.
dharma

Edited by dharma, 05 August 2015 - 10:02 AM.

[dharma]

here is the fixed link http://gracelandupda...015aug5fed1.png
dharma

[dharma]

solar power
india and china
http://thinkprogress...est-solar-farm/
now think about how much silver is used
http://www.forbes.co...ltaic-industry/
of course if and when price rises it could cut demand
dharma

[dharma]

volume is getting less and less on the decline, not a bearish thing. however the bulls are unable to mount any kind of rally
miners new lows
not so for gold
this is a futures chart http://gracelandupda...2015aug6gs1.png
so far it has been spot on
tomorrow is the jobs report. how many hamburger jobs have been created?
getting very compressed
dharma

[dharma]

the broad market- this has to be one of the biggest tops in market history. we are now in crash season. lets see what is in store for the broad market. should it decline , then my guess is the dollar comes w/it. we are now approaching festival buying in india. w/the monsoons in india being on target, i think the buying season will be robust . today we find out if the commercials are net long or not. if so it will be the 1st time since the 70s . if we are not @ the turn then it is very near in time i did some light buying late in the day yesterday. miners are on sale!!! of course they could get cheaper, but this seemed like a good spot to take a position dharma

[dharma]

cots
http://news.goldseek.../1438975858.php
not much new here
note the small specs added to shorts more than longs=net short
commercials shorted more dollars
dharma

[johngeorge]

From my 2 cent FWIW department: Looking at the weekly and daily charts of $USD it appears the dollar still has room to run up to ~ 100 before a correction back down..... although short term weakness looks evident. At any rate I believe continuing dollar strength will provide headwinds for a gold advance. Also it looks to me, as it does to you dharma, we need to clear the 1135 to 1140 area for a sustained move higher in gold. However, from my perspective we could hit perhaps 1170 and the rally fizzles out. Will see.

[dharma]

the way i see this we could have very well finished a diagonal triangle 5th wave down if so now it is up to the bulls to take price above resistance. upto 1150s if not the bears will press the issue. so the battle lines are drawn. all of the fiats are flawed currencies @ this point . the dollar happens to be the best of the rotten lot funds are flowing into dollars. @ some point that will change course. but , for now the fed is omnipotent we are not far off in time and we could have arrived there in price the cots are registering really significant readings, one has to go back to the late 70s to readings where the commercials are net long these readings while not net long the commercials are quite positive. in the far east they buy as protection, they dont analyze every wiggle. indians buy for religious festivals and for generations they have experienced the magic that accompanies fiats. dharma

[dharma]

the german economy contracted about 2.4%
the chinese devalued their currency about 2% last night
they are also trying to be transparent. so they have a site that will publish this daily
http://www.graceland...aug11china2.png
now gold demand in india has picked up we are in the festival season
http://www.graceland...aug11jewel1.png
i want to see if the rally can get legs and clear 1150
the dollar rolled over yesterday.
and the miners were the leaders
dharma