thanks yes
Technical Analysis Fallacy
- #11,221
- Nov 8, 2009 5:47pm Nov 8, 2009 5:47pm
- Joined Apr 2007 | Status: (Latin: statūs), rank, state | 3,127 Posts
- #11,223
- Nov 9, 2009 12:34am Nov 9, 2009 12:34am
- | Joined Aug 2007 | Status: Senior Member | 1,798 Posts
To Live is the rarest thing in the world , Most people exist , that is all
- #11,228
- Edited 12:41am Nov 11, 2009 12:25am | Edited 12:41am
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
- #11,229
- Nov 11, 2009 12:56am Nov 11, 2009 12:56am
- | Joined Aug 2007 | Status: Senior Member | 1,798 Posts
taking some off the table @ e/u 5063 area.
I have a question maybe I can get some feedback on.
What is keeping silver from heading north as gold has ?
prolly some speculating we gonna go back to that system ...
gold has been the commodity that the Indians (2nd largest population in the world) buys for any occasions , they literally collect gold as a habit ... most wont be sure why if u ask them, its just been instilled to them from generation to generation to buy and save gold ...
silver... y buy silver when there is gold
if the Chinese starts buying silver as a habit and outrun the Indians in their gold spree , then we ll have a new exchange commodity ...
To Live is the rarest thing in the world , Most people exist , that is all
- #11,230
- Nov 11, 2009 5:53am Nov 11, 2009 5:53am
hmm maybe cos gold used to be the exchange system
prolly some speculating we gonna go back to that system ...
gold has been the commodity that the Indians (2nd largest population in the world) buys for any occasions , they literally collect gold as a habit ... most wont be sure why if u ask them, its just been instilled to them from generation to generation to buy and save gold ...
silver... y buy silver when there is gold
if the Chinese starts buying silver as a habit and outrun the Indians in their gold spree , then we ll have a new exchange...
they could buy silver but their vaults have to be huge.
even with my eyes open i cannot see everything
- #11,231
- Nov 11, 2009 6:02am Nov 11, 2009 6:02am
Gold in the spot market struck a high of 1109.1 and a low of 1096.9 yesterday, as Gold remained
firm consolidating this week's gains to record highs as the precious metal looked poised to scale
new peaks on the back of a weak dollar which prompts safe-haven buying. Bullion remained in
sight of a record high of 1,111.2 an ounce marked on Monday, and the dollar's persistent
weakness on expectations that U.S. interest rates will likely stay low, is expected to help gold rise
further. India's recent purchase of 200 tonnes of gold from the International Monetary Fund has
also provided gold with support as it has kept the metal out of the market. The question has now
shifted to how and when the IMF will execute the transaction for the remaining planned gold sales.
In widely watched news, Chinese industrial output growth jumped to a 19-month high in the year to
October, underlining the economy's brisk recovery from the global downturn in response to
massive fiscal and monetary stimulus. A former senior foreign exchange official in China, which
was seen by some as the most likely buyer of IMF's gold, said this week that the country should
not rush to buy the metal from the IMF but should wait for the price to drop from a record.
Meanwhile, holdings of the SPDR Gold Trust remained stable at 1,114.44 tonnes yesterday.
Technically, prices can rise towards 1124 if the record high is breached again, otherwise gold can
remain range driven between 1094 and 1110.
D
AILY TECHNICAL RESISTANCES AND SUPPORTS
C
URRENT PRICE: 1105
Resistances: 1111 1124 1145
Supports: 1090 1083 1068
- #11,232
- Nov 11, 2009 9:25am Nov 11, 2009 9:25am
- | Joined Jul 2007 | Status: Trader | 2,994 Posts
hmm maybe cos gold used to be the exchange system
gold has been the commodity that the Indians (2nd largest population in the world) buys for any occasions , they literally collect gold as a habit ... most wont be sure why if u ask them, its just been instilled to them from generation to generation to buy and save gold ...
.
Am i the only Indian here born and bought up in india lol...
But i will spread some more light on to it...
1. Gold in indian mind has been and Absoluete last sort of thing we go to if we are in some financial strain... so as normal human everyone saves for there worst day we save gold for that...
2. Gold is always a good thing to give to GOD as a thanks or if we ask something.
3. If its marriage i know in some parts we talk about GOLD how much the girl came up with GOLD its not dowry its how the system works...how much parent gave in gold to not girl or groom but to relatives...
4. Gold is one of the best ornaments women like in india... i am sorry but FTI sir how much no u can say to ur wife...
5. We have a Big function DIWALI where everyone likes to wear new stuff and that includes GOLD too...
So if you add these all together ... there will always be demand for GOLD in india....NOT DIAMOND NOT SILVER.. plain GOLD....
I hope it was helpfull
BTW I am lONG GLD ETF.... not sure when i will sell...Also as india has been getting quite some money for last couple of years we have been dispensing more money to this.. give an example i bought a solid gold chain like for 20,000 Rs 2 year ago... i sent back to india as i was not wearing ...last time my dad checked it is right now in 36,000 Rs...80% rise in value in 2 years....
V
- #11,233
- Nov 12, 2009 3:51am Nov 12, 2009 3:51am
- | Joined Aug 2007 | Status: Senior Member | 1,798 Posts
Am i the only Indian here born and bought up in india lol...
V
now multiply this by 1B people
To Live is the rarest thing in the world , Most people exist , that is all
- #11,235
- Edited 1:53pm Nov 12, 2009 7:55am | Edited 1:53pm
- | Joined Aug 2007 | Status: Trader | 2,219 Posts
