Gold Discussion

enivid · #**736** Nov 3, 2009 4:01pm

Quote:

Originally Posted by The Oracle

1. Decreasing mine production
2. It's getting harder to find

Not very true. As I have previously mentioned. The cost of 1 ounce mining and production in a not-so-effective economy is about $350.

Quote:

Originally Posted by The Oracle

3. Investment demand
4. Central banks are buying
6. Exploding demand in Asia
7. Gold is in a secular bull market

Bubble arguments

.

Quote:

Originally Posted by The Oracle

5. Push for gold-backed currencies

Heh? Gold-backing won't work well for any major currency in the world now. And non-major currencies won't matter much.

Interesting question is what will happen with jewelry industry if the gold reaches $2,500 without an inflation factor?

herbarz · #**737** Nov 3, 2009 5:49pm

What a day..
maybe someone have an elliot wave analysis ?

Machination · #**738** Nov 4, 2009 12:47am

Seven reasons why gold will surpass $2,500 & inflation isn't one of them:-

1. Decreasing mine production

This is not true from what we see. We are getting offered dore from all sorts of upstart mines in west Africa. China is expanding mining capacity daily

2. It's getting harder to find

Back up this statement

3. Investment demand

Yes, there is a demand, and there is a lot of hype around it as a hedge against inflation, a new "must have" holding for hedge and pension funds, and a lot of hype around retail market. Question is does the demand have merit or is it the B word?

4. Central banks are buying

Yes, India yesterday, and who knows who tomorrow.

5. Push for gold-backed currencies

Who is pushing?

6. Exploding demand in Asia

Asia has always been the largest gold consumer. I would not say "exploding", growing yes, but "exploding"?

7. Gold is in a secular bull market

Arguable

*Courtesy of Peter Krauth, Money Morning, 26 Oct 2009

I see gold at $1,300 & $2,500 by the end of 2009 & 2010 respectively!

Not sure about those numbers. I see 1200 soon (maybe end of year if we are lucky) and 2010 who knows......could stabilize well below 2000 (even 1200). But 2000 is possible. 2500 seems a little aggressive........just my two krugerrands

BruntFCA · #**739** Nov 4, 2009 2:00am

Any thoughts for today?

As usual London Forex traders desks did their mini reversal this morning. Took it down to almost 1081 and now it's trading at 1083.45

Obviously we have the FOMC Circus today so the price could go all over the place. $1100 looks very close, I wonder if we will see a "push", I guess it all depends on what Mr B says.

They key phrase is “for an extended period”, if he does not say this, it could have a significant impact on the markets.

If gold really IS going to get to $1500 and upwards as some pundits are predicting; due to die state of US finances, one HAS to get in sooner or later.

acw204 · #**740** Nov 4, 2009 4:05am

selling gold/usd...now the gold are at peak...
could it go any further??

jabalong · #**741** Nov 4, 2009 6:20am

Quote:

Originally Posted by Machination

I see gold at $1,300 & $2,500 by the end of 2009 & 2010 respectively!

Not sure about those numbers. I see 1200 soon (maybe end of year if we are lucky) and 2010 who knows......could stabilize well below 2000 (even 1200). But 2000 is possible. 2500 seems a little aggressive........just my two krugerrands

I think 1,200 is quite possible by the end of the year, or say maybe February-March at the latest. As for the rest, maybe 2011, but don't think next year unless we really go parabolic, which could happen eventually. I think 1,800 is in the cards in the next say 18 months, not sure beyond that.

enivid · #**742** Nov 4, 2009 10:05am

Quote:

Originally Posted by acw204

selling gold/usd...now the gold are at peak...
could it go any further??

Of course, it's possible. But gold is so speculative lately, that it's hard to make any backed predictions here.

ubaidahsan · #**743** Nov 4, 2009 1:30pm

Quote:

Originally Posted by jabalong

I think 1,200 is quite possible by the end of the year, or say maybe February-March at the latest. As for the rest, maybe 2011, but don't think next year unless we really go parabolic, which could happen eventually. I think 1,800 is in the cards in the next say 18 months, not sure beyond that.

i do agree with you until it won't touch 970 it cant go up more...

Ub

acw204 · #**744** Nov 4, 2009 11:48pm

i beleived selling gold is good at the high of gold...make a thousand of pip last night...

Hell7 · #**745** Nov 8, 2009 4:37am

I posted my charts for Nov. 6th 2009 on my blog

Tiger21 · #**746** Nov 8, 2009 12:17pm

India's purchase of 200 tonnes of gold last week led a huge push upwards for the price of gold. With the price at 1095, it looks like it's march to 1200 will be sooner rather than later.

ubaidahsan · #**747** Nov 10, 2009 1:29am

Down Down come down down

ready for short...

ForexRookie · #**748** Nov 10, 2009 5:03am

Analysis posted on my thread:

http://www.forexfactory.com/showthre...73#post3220973

Thanks guys.

The Oracle · #**749** Nov 10, 2009 6:23am

Gold will head towards $1,200 if the current support of USD Index at 74.XX fails. The chances of seeing gold at $1,300 by the end of 2009 are more likely then.

Tiger21 · #**750** Nov 10, 2009 2:22pm

Gold continues to be a mirror of the dollar. Dollar up today. Gold down. Yesterday, reaching 1,111.70 it reached above the 70 level on the 14-day relative strength index. Expect some consolidation from this point, but still bullish long term.