Gold seems to have found a base at $1400 aussie so all we do now is relax and be content out wealth is protected. When the big leg down occurs in the US stock market, any day now, we will perhaps see some more action.
Unlike gold, property is completely dependent on increases in debt. If debt can no longer be ramped up its over. And even at the lowest rates for 50 years property is stalling.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
Gold futures posted the biggest decline in almost seven months overnight as Portuguese banking concerns eased and equities gained, diminishing demand for haven assets.
Portuguese 10-year government bonds were set for the biggest two-day advance in a month on speculation that Portugal would contain financial woes at one of its banking groups. The Standard & Poor's 500 Index added as much as 0.6 per cent after Citigroup reported profit that topped analysts' estimates.
The drop comes after gold capped the longest run of weekly gains since 2011, partly as missed payments on notes by a parent company of Portugal's second-biggest bank renewed concern that Europe hasn't resolved its debt crisis. EU spokesman Simon O'Connor said July 11 that the country has taken steps to shore up its financial system. Goldman Sachs's Jeffrey Currie reiterated his outlook for lower bullion prices as confidence increases in the economic recovery and inflation remains tame.
"A strong stock market and some stability in the EU" are pressuring gold, Peter Thomas, a senior vice president at Zaner Group in Chicago, said in a telephone interview. "A lot of people were looking at Portugal as a domino effect, and as we saw, O'Connor prevailed and it didn't have a significant impact."
Gold futures for August delivery fell 2.3 per cent to settle at $US1,306.70 an ounce at 1.50 pm on the Comex in New York, the biggest loss for a most-active contract since December 19.
I see. So golds rise over the past few months was all because Portuguese banks were having problems. Well why didn't they say that all along instead of linking it to wars and separatist movements. One wonders...
Going by the basic chart, gold will be rising for a while. Unless the FED and the ECB suddenly decide to up their o/n rate.
The wild card is the main central banks decide to hoard gold on the large scale in which case we'll see $3,000 plus price.
So presently gold remains a solid liquid investment, with no great return. With the wild card of doubling your money. Beats a Tatts ticket by far!
If present trends continue the price range for gold will $1300 to $1500 US by the end of the year.
szokolay
15 Jul 2014, 11:28 PM
I see. So golds rise over the past few months was all because Portuguese banks were having problems. Well why didn't they say that all along instead of linking it to wars and separatist movements. One wonders...
You believe the newspapers? Where were you when the bald priests of Egypt were spruiking the favor and displeasure of the gods?
The games of the shorts and the longs on Comex will see sudden rises and falls, but has no influence on the price in the longer term.
Gold seems to have found a base at $1400 aussie so all we do now is relax and be content out wealth is protected. When the big leg down occurs in the US stock market, any day now, we will perhaps see some more action.
Oil is black gold, they move together. Cheaper oil, cheaper gold, more expensive oil... It was obvious all through the 1970's. And then all through the 2000's. The 1980's saw low oil prices, low gold prices. A hedge with gold is as much a hedge against higher energy costs as it is against central bank stupidity.
I see the bric's opened their own central banker bank in opposition to the US dollar IMF etc. They kicked it off with $100 billion. They are going to break away soon, then the US dollar will really be on a slide.
BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks
"We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US$ 100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements. We appreciate the work undertaken by...
Yes another zerohedge reported fact, sorry peter, but if you google it I'm sure you will find it reported by many other outlets. The fund is in $ US but I imagine that will change in the future too
CHAPEL HILL, N.C. (MarketWatch) — Gold’s $30-plus drop Monday — the biggest daily decline of the year — serves as a powerful reminder that the market for the yellow metal remains vulnerable to shifts in investor mood.
And that does not bode well for gold’s near-term prospects. That’s because there’s more bullishness than bearishness today among the gold traders I monitor, which, in turn, means it’s more likely that shifts in mood will cause gold to fall than to rise.
Consider the average recommended gold-market exposure among a subset of short-term gold-timing newsletters tracked by the Hulbert Financial Digest (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). The average currently stands at 23.3%.
To put that into context, consider that as recently as early June, the HGNSI stood at minus 30%. In other words, in a little more than a month’s time, the average gold timer has increased his recommended gold-exposure level by 53.3 percentage points.
That’s a remarkably quick retreat from bearishness.
According to contrarian analysis, major market bottoms are more likely to be greeted by stubbornly held bearishness — just the opposite of what we’ve seen recently. In other words, the initial rally off the final low will most likely be greeted by disbelief. Only well into the new bull market will market timers be eager to jump back on the bullish bandwagon.
In fact, a close analysis of gold sentiment over the past 12 months suggests we’re getting further away from extreme pessimism, not closer.
Notice from the accompanying chart that there have been three major periods of bearishness over the past year among monitored gold timers. As you can see, the trend in sentiment across these three periods is of higher sentiment levels, now lower.
If gold’s recent low represented a major bottom, then contrarian analysis suggests we would be seeing just the reverse pattern, with each successive sentiment low lower than the previous one.
To the extent that contrarian analysis is right, gold traders should be prepared for more days like Monday, when August gold futures fell 2.2% to $1,306.70 an ounce. Unless you have nerves of steel and are ready and willing to hold on to gold despite extraordinary volatility, you might want to wait until sentiment conditions are more favorable.
Going by the basic chart, gold will be rising for a while.
Hows that rise working out?
Quote:
So presently gold remains a solid liquid
A solid and a liquid?
Quote:
investment
Really?
Quote:
Definition of 'Investment' An asset or item that is purchased with the hope that it will generate income or appreciate in the future.
Well you can forget generating income which leaves Hope? Sounds like gambling to me.
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with no great return.
Make that no return at all ZERO in fact
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Gold prices have fallen for a second day, as it became apparent that the financial problems at a Portuguese lender are unlikely to be a threat to Europe's wider banking system, lessening the need to use the precious metal as a safe haven against economic turmoil.
Gold for August delivery, the most actively traded contract, on Tuesday closed down $US9.60, or 0.7 per cent, at $US1297.10 a troy ounce on the Comex division of the New York Mercantile Exchange. The decline follows a more than two per cent retreat Monday, gold's sharpest drop in seven months.
Portuguese Banking conglomerate Espirito Santo delayed repayments on some short-term debt securities last week, leading some investors to worry about the health of Europe's financial system.
The concerns pushed some investors to buy gold, sending the precious metal to its highest level in nearly four months. Some market participants use gold as a hedge against economic or political uncertainty, believing it will hold its value as other assets fall.
Now, investors appear to have decided the troubles at the Portuguese bank may be less of a threat to Europe's banking system than previously believed.
"We had a flight to quality last week, and when the situation didn't turn out to be that serious, investors just pulled the plug," said Frank Lesh, a broker at Future Path Trading.
"We closed below $US1300 an ounce, which of course hurts, psychologically."
As Timmy used to say (when he was here...) "Nothing goes up in a straight line"
I'm not concerned, I think Gold price will be higher than current price next month and higher again in 6 months...
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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