[Hi, I just started with this post on GOLD, please comment your take on this post. Here is my take on gold short term 1-2 weeks, it will trade in the band $760 - $810 based on these 3 links given below 1) storing dollar 2) hedge funds forced unloading as part of delevarage Dollar soars to 20-month high; euro drops vs yen http://www.reuters.com/article/hotStocksNews/idUSTRE49D12L20081021 Gold falls for seventh day on funds liquidation http://www.marketwatch.com/news/sto...E4BC11-FD94-4FA5-9726-B3D758BD84F5}&dist=news Freaky Friday Part II - The Big Roil http://www.kitco.com/ind/nadler/oct172008A.html Cheers ------------ http://goldnews.bullionvault.com/gold_mining_supply_demand_102120083 "We believe the normalization of money markets should support precious metal prices as liquidity returns," says Walter de Wet for Standard Bank in Johannesburg, "[but] a strong Dollar would make large price rallies difficult to sustain." The $3 trillion now promised by major world governments to shore up their domestic banks continued to reduce money-market interest rates on Tuesday. The gap between 3-month US Treasury yields and London's inter-bank lending rates dropped to 3.15%, down from the record 4.50% hit at the start of last week. Interest rates on so-called "commercial paper" â meaning short-term debt issued by corporations â fell to a four-month low in New York.
Forgive my confusion, but the article you quoted suggests inevitable inflation and other "old fashioned correlations", which would bode well for gold. Yet you remain convinced gold is destined to keep moving lower and that those old correlations no longer apply. So where is the disconnect?
As expected the 740 low was taking out about 35 minute ago with a small market flood of selling. 699--703 is the next support range on the way to sub 600 and below. surf
Very interesting, thank you for that site, i have not heard of that group. although I believe their cause is a lost one, however there is LIKELY truth to some of what they say.... why not be on the same side as the "manipulators" ?? they leave rather large footprints
But the question is, what happens when the manipulation is revealed? For the sake of argument, what would happen if December physical delivery of futures contracts failed?
In that event Comex would probably try to reissue paper, or settle in cash (bailout). But that begs the question, who would buy after that. No one wants to be the one without a chair when the music stops edit: All I know is there's a huge shortage of physical gold, you cant find it, and when you do, be prepared to pay HIGH premiums over spot. Most dealers that still have inventory will not sell at these prices. One side or the other eventually has to give. I have to side with the actual gold stuff. fwiw,
i believe those who matter all ready know all there is to know. there is plenty of physical, its just waiting to be released--- my opinion ofcourse. surf