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  • #210,881
  • Mar 14, 2010 3:24pm Mar 14, 2010 3:24pm
Quoting mfoste1
why did china buy half of the gold the IMF sold???? To hedge against inflation, climbing equities???? Against a weak USD????
Another possibility is 'diversification'......no need to have all the eggs in one basket is there?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #210,882
  • Mar 14, 2010 3:29pm Mar 14, 2010 3:29pm
Quoting realjumper
Another possibility is 'diversification'......no need to have all the eggs in one basket is there?
I agree. Gold has 'little value' in stable environments, unfortunately times remain quite turbulent, so for the Chinese it's probably the best hedge against a possibility of USD tanking or total default (God forbid).
Prices oscillate, trends persist. Trend is your friend.
  • #210,883
  • Mar 14, 2010 3:33pm Mar 14, 2010 3:33pm
EUR-USD Rates since Wellington Open at 19:00 GMT


Interbank Foreign Exchange Rates At 15:50 EDT / 19:50 GMT / 20:50 CET


1.3778-83 Last

1.3782 High
1.3770 Low

Highest & Lowest Mid-Price
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #210,884
  • Mar 14, 2010 3:40pm Mar 14, 2010 3:40pm
Quoting manojsai
FXE the ETF for euro closed at 137.3. it has a strong resistance at its 200 moving average at 138.7. a strong resistance line is also at that point.....................

USD index candle is inching to go down.At its 50 moving average it has good support at 79.23.


my chart show E/U has strong resistance at 3782,3798,3842.......3892

too many things are happening next week to say if Euro will decide to take the anticipated correction or decide to make the shorters a big meal.
Just a different look @ things.
StockCharts has some options to look at.
Attached Image (click to enlarge)
Click to Enlarge Name: USD, EUR, FXE.JPG Size: 78 KB
I trade what I see on my charts. Do Not listen to the Muppets.
  • #210,885
  • Mar 14, 2010 3:40pm Mar 14, 2010 3:40pm
Quoting jsspmk
I agree. Gold has 'little value' in stable environments, unfortunately times remain quite turbulent, so for the Chinese it's probably the best hedge against a possibility of USD tanking or total default (God forbid).
Yep. I'm with gator regarding gold, in as much as that really and truly it is a useless commodity. For example....what can you do with gold that you cannot do with any other metal? Nothing right? Also, gold is only worth what people are prepared to pay for it. If, like India, you are sitting on 200+ tons of the stuff....what are you going to do with it? No one will buy it because the price is too high. If the world plummets into a huge depression, the price of gold will drop to a point below what they paid for it....so the 'investment' in gold becomes a liability. No one actually 'needs' gold...they just like having it due to some ridiculous status of 'I have gold so I'm rich' , and that thinking is a couple of hundred years out of date!!

Perhaps oil or even water makes more sense to me if you want to stockpile something that will be of value, but gold?......just backward thinking....imo....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #210,886
  • Mar 14, 2010 3:49pm Mar 14, 2010 3:49pm
Quoting realjumper
Another possibility is 'diversification'......no need to have all the eggs in one basket is there?


true, all gold is a store of value when uncertainty arises. I just cant see any other currency that they would use as main reserve.
  • #210,887
  • Mar 14, 2010 3:50pm Mar 14, 2010 3:50pm
Quoting jsspmk
I agree. Gold has 'little value' in stable environments
And what are they? Stable environments? When Electric Power is ok in

the Fed Reserve basement, so they keep printers working at full speed 24/7

and supply of paper and ink stable as well? You still believing those crooks

do you?

Little value, - wow, cool, if you have any of those Gold coins, handle it too

me please, I'll take

care of it and you can keep your green candy wrappers to see what they

going to turn into later on.. Benny (@ Fed Reserve) the Bums fairy tail

just starting.. Enjoy the show...
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  • #210,888
  • Mar 14, 2010 3:51pm Mar 14, 2010 3:51pm
Quoting realjumper
Yep. I'm with gator regarding gold, in as much as that really and truly it is a useless commodity. For example....what can you do with gold that you cannot do with any other metal? Nothing right? Also, gold is only worth what people are prepared to pay for it. If, like India, you are sitting on 200+ tons of the stuff....what are you going to do with it? No one will buy it because the price is too high. If the world plummets into a huge depression, the price of gold will drop to a point below what they paid for it....so the 'investment' in gold becomes...

clean water is the next commodity for future....CWCO very cheap right now i think, ill be buying some on a pullback
  • #210,889
  • Mar 14, 2010 3:56pm Mar 14, 2010 3:56pm
Quoting mfoste1
clean water is the next commodity for future....
All commodities are the same.... And GOLD is the KING of ALL of them..

You can exchange GOLD for any other commodities anytime including

grain, guns, sex, water and rock & roll and that's how it's been working out

for more than 3000 years.
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  • #210,890
  • Mar 14, 2010 4:03pm Mar 14, 2010 4:03pm
Looks like it may gap up to 3775/80 according to fxcm.
  • #210,891
  • Mar 14, 2010 4:04pm Mar 14, 2010 4:04pm
Quoting SkyzerFX
And what are they? Stable environments? When Electric Power is ok in

the Fed Reserve basement, so they keep printers working at full speed 24/7

and supply of paper and ink stable as well? You still beleive in those crooks

did you?

Little value, - wow, cool, if you have any of those Gold coins, handle it too

me please, I'll take

care of it and you can keep your green candy wrappers to see what they

going to turn into later on.. Benny (@ Fed Reserve) the Bums fairy tail

just starting.. Enjoy the show...
A stable environment=stable economy.

I don't really care how much they print as long as it serves the right cause - to stabilise our economies. I don't support calls for a reality check, what do you want depression? I don't, my wife doesn't, my children, even though they don't yet realise it, don't want depression.

What is worse - inflation or depression?

Yes, the whole world is probably awaiting a big scale inflation. So what if a cup of coffee costs $100 as long as you make $1000 an hour. It's better than having a cup of coffee costing 10c & you having to work (if you are lucky to have a job) 1 month for $1.

Let's not forget that there is no gold standard any more. So they can print all they like as far as I am concerned.
Prices oscillate, trends persist. Trend is your friend.
  • #210,892
  • Edited 5:53pm Mar 14, 2010 4:05pm | Edited 5:53pm
Quoting SkyzerFX
All commodities are the same.... And GOLD is the KING of ALL of them..

You can exchange GOLD for any other commodities anytime including

grain, guns, sex, water and rock & roll and that's how it's been working out

for more than 3000 years.
If you have guns, ammo & CLEAN water, the rest is easy.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #210,893
  • Mar 14, 2010 4:05pm Mar 14, 2010 4:05pm
Quoting SkyzerFX
I bet you are 17 years old, otherwise I don't get that statement.

You can buy anything with GOLD, anything/anytime/anywhere even, if there is a war

and very little food around, and you definitely not going to buy sh*t with

your paper assets, cause they will be valued at absolute ZERO.
I took you off my ignore list to see if you had anything to say of any value.....alas.....as per normal, you have nothing to say except to insult people who you know nothing about.....back on the iggy list with you.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #210,894
  • Mar 14, 2010 4:06pm Mar 14, 2010 4:06pm
Check it out

http://en.wikipedia.org/wiki/Klondike_Gold_Rush

Why you think people Kill each other in 19 century for useless

commodity? Get a clue already..
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  • #210,895
  • Mar 14, 2010 4:07pm Mar 14, 2010 4:07pm
Quoting SkyzerFX
I bet you are 17 years old, otherwise I don't get that statement.

You can buy anything with GOLD, anything/anytime/anywhere even, if there is a war

and very little food around, and you definitely not going to buy sh*t with

your paper assets, cause they will be valued at absolute ZERO.
You are missing the point I think. It is exactly because there is no stability gold is going up, if everything was hunky dory, then why stack up gold in your basement? No need for that.
Prices oscillate, trends persist. Trend is your friend.
  • #210,896
  • Mar 14, 2010 4:09pm Mar 14, 2010 4:09pm
Quoting Vanhook2
If you have guns, ammo & CLEAN water, this rest is easy.
Exactly, if we slip into depression then the only real commodity will be a gun, not gold.
Prices oscillate, trends persist. Trend is your friend.
  • #210,897
  • Mar 14, 2010 4:12pm Mar 14, 2010 4:12pm
Quoting SkyzerFX
All commodities are the same.... And GOLD is the KING of ALL of them..

You can exchange GOLD for any other commodities anytime including

grain, guns, sex, water and rock & roll and that's how it's been working out

for more than 3000 years.

gold doesnt mean a thing when youve just died of thirst....3000 yrs ago water was abundant, people drank it from any natural source bc it was all clean(no pollution). Now over 1 billion people in the world are struggling to get clean water. Its sad, i know, but theres more money to be made from that misfortune than there is from gold.
  • #210,898
  • Mar 14, 2010 4:14pm Mar 14, 2010 4:14pm
Quoting SkyzerFX
All commodities are the same.... And GOLD is the KING of ALL of them..

You can exchange GOLD for any other commodities anytime including

grain, guns, sex, water and rock & roll.
In a civilized society----yes. If things go to hell, bullets and seeds will get you more than Gold. Turn the power off in New York City for a week and I doubt you could buy a BLT with a bucket full of Gold. Its all a matter of supply and demand. In a real melt down Gold has little value. However as things come back from the brink of uncertainty a stash of Gold will make you a King. Anyone planning for a world wide meltdown should plan for the hole ride, not just the first intersection or the final destination. If all you have is Gold you'll be dead in the first block of the trip.................. Pray we don't take the ride.
  • #210,899
  • Edited 4:52pm Mar 14, 2010 4:17pm | Edited 4:52pm
Quoting knuckledrag
In a civilized society----yes. If things go to hell, bullets and seeds will get you more than Gold.
Interesting view. Check USA 1860 wild west and stuff.., wasn't civilized at
all. Heck, Check Russia 1917-1923 war hunger no food, dead and GOLD the only thing what have value.
Any banker or Wealty person have to store value in something you assume he supposed to buy
3 thousand of rifles and few million of bullets to move around?
You have to pay with something to buy those guns/grain/ whiskey and
water and that be GOLD and Silver only. And you should have something when the war ends,
except stupid gun and bullets.

When you choose GOLD, you don't have to rely on anything, yes, Gold has no Debt and no interest % and it also

has no Fed Reserve none of the dirty politicians behind it.. You cannot print GOLD

And It will never go to 0 and 1 OZ of GOLD will always mean just that, - 1 OZ of GOLD, nothing else.

P.S I love Diamonds too!

P.S.S.
Forgot the MAIN reason..

It cost $700-$900 nowadays to mine 1 oz of GOLD and costs will only increase.

And that's your value, right there. 300 man working hours + 150 gallons of Fuel spend + Heavy Equipment use.

And Why would anybody invest so much to mine useless commodity???

LETS go back to EURUSD...

Bid: 1.3770
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  • #210,900
  • Mar 14, 2010 4:33pm Mar 14, 2010 4:33pm
is the market open now or not???
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