143 replies to this topic

[dharma]

repercussions from chinas move
http://www.zerohedge...re-currency-war
dharma

[dharma]

yesterday i posted about the chinese devaluation. no comments well guess what 1% of the investors invest in gold in the usa. while its a way of life in india/china. they have gotten the fuzzy stick for centuries. the people have learned to buy gold no matter what the rhetoric. look to the east for leadership. they are the drive of the next bull. devaluation is saying hey our economy is in trouble , we want to gain share in exports. this also causes other countries to take action. the chinese move is huge. it looks to me like the dollar could have put in a high. we are also in crash season for the broad market. jupiter enters virgo on the 11th where it will be for the next 3 years=increasing volatility in the gold market. i have been nibbling on mines. they will lead in 29-32 the broad market fll 90% miners have fallen 80% they will have alot of catching up to do wave 2 will be the safest time to buy, i think we rally for the next month and then a correction dharma marc faber came out and endorsed raj as the best central banker in the world i think he is right

Edited by dharma, 12 August 2015 - 10:46 AM.

[dharma]

now this from rajan http://gracelandupda...15aug11rbi1.png
sentiment
HGNSI rose 13.3 points yesterday to -16.7%
MarketVane’s Bullish Consensus rose a point to 35% today
the DSI rose 3 points to 23%.
note these are still bear market readings
there is a huge speculative short position in gold
@ what price do they run for cover
bear markets end w/the bears pressing the short side
bull markets begin w/the shorts covering
we are close here
dharma

[dharma]

india , since the end of july is back buying in a big way. its indian buying season. keep in mind the #s dont reflect all the black market buying. but their buying is relentless right now. i received an update from hadik yesterday morning. as tria mentioned he and eric are looking for a mid to late september high. many miners exhibiting island reversals, diamond bottom patterns etc. so the pms look better, but still there is big resistance yet to be penetrated. 1130 and 1180 . take those out and i will feel the bottom is behind us. right here , right now we look constructive. keep in mind in past history china has not had just one currency devaluations. their devaluations have occurred much the same way as rising rates have occurred over here. this is not lost on chinese citizens who have seen and heard the rhetoric before. so, quietly i expect chinese citizens to be firmly on the buy. that coupled w/indian demand should keep a bid under gold. i also read where rajan, the fed head of india, is considering buying gold for their central bank. stay tuned dharma

[dharma]

well to continue the monologue
now this i thought was significant http://gracelandupda...015aug13td1.png
india has been the world s largest importer for quite some time. some of the gold imported into china finds its way to india via
the black market. india still has a 10% tax on imported gold. so there is room for smugglers
to get accepted for sdr the imf told china to be more transparent. china is listening
http://gracelandupda...5aug14gold1.png
they have begun to build up their gold reserves. inspite of all the bs on king world news. their official holdings are listed on their website
rajan has said recently that he would like to build the central banks gold reserves. the love trade of india/china is speaking
looking forward to todays cots. it could be revealing.
dharma

[dharma]

cots
http://news.goldseek.../1439580745.php
dharma
commercials taking the other side of the large specs

[goldfungus]

cots
http://news.goldseek.../1439580745.php
dharma
commercials taking the other side of the large specs

It may be a monologue but you do have an audience.

[dharma]

3 currency devaluations from china now monthly access to their gold purchases is this their open policy???? watch the east for gold. 1% of investors in the usa have gold druckenmiller has increased his gld position to 20% he also bought a slug of nem still the bull case has not been proven. the bears have not retreated from their positions. above 1130,then above 1155, and above 1180 and that will be proof for me i do expect volatility to pick up too dharma hadik says we rally until mid/late sept.

Edited by dharma, 17 August 2015 - 10:21 AM.

[johngeorge]

For folks that have not seen this very interesting chart from Clive Maund published August 9th, 2015.

WHY THE PM SECTOR IS NOW A CONTRARIAN'S DREAM...

[senorBS]

For folks that have not seen this very interesting chart from Clive Maund published August 9th, 2015.

WHY THE PM SECTOR IS NOW A CONTRARIAN'S DREAM...

si, everything necessary for a bear market bottom IMO is there is spades. still can't rule out one more modest new low until we rally higher, but I like what I see and a day like today is important as they could have sold if off to unchanged or lower but it appears we may instead close at/near session highs - possible character change in progress, want to see gold close above 1130 then 1162 for "initial confirmation"

Senor