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The Gold Bull is DEAD. Long Live The Gold Bull.; It ain't over yet flyboy.
Topic Started: 18 Jul 2013, 12:53 AM (16,410 Views)
Pig Iron
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Bogan scum

goldman buying gold? definitely time to get out.

I am the love child of Tony Abbott and Pauline Hanson
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goldbug
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Hey I'm not the one who bought property in a flood prone backwoods town. I bought some gold about $500 an ounce ago and am well up now. I read that you nearly got sucked into buying another flooder, down in Brisbane this time. You're a little fish in a big pond down there Frank and will get eaten alive. Best you stay up north with the straw hat brigade.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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goldbug
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Pig Iron
1 Sep 2013, 12:02 PM
goldman buying gold? definitely time to get out.

Your call on gold "dropping like a stone" was wrong pigiron, so it's back to school for you.
Read this one and give me an analysis on why you think it may be "too" bullish. 50 words or less ok.

Quote:
 

Two Gold Bulls Explain the Bottom Is Near, Heading to $7,000
27 Jun 2013
http://www.cnbc.com/id/100849428


------------------------------------


From dropping like a feather to rising like a rocket.

Gold Surges Over $40 As COMEX Shorts Collapse To 7-Month Low
09/03/2013


Spot gold prices have surged over $40 from Sunday's knee-jerk lows as once again lower prices have encouraged demand. Gold had shfted back to unchanged from Friday's close before Boehner spoke but since then has accelerated over $20 higher.

Gold shorts in the futures and options markets have dropped for 6 of the last 7 weeks. The 60% drop in the non-commercial short position represents a massive 81,700 contracts (8,170,000 ounces or ~$10.6 billion worth of notional 'paper' gold).
Edited by goldbug, 4 Sep 2013, 08:18 AM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Frank Castle
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Business As Usual

goldbug
4 Sep 2013, 02:13 AM
Hey I'm not the one who bought property in a partially flood prone major regional.
Yeah those properties are terrible I tell you :lol
They cost bugger all - now unencumbered
Have almost trippled in value
Are always fully rented due to their walking distance to the CBD
And pay a 17% / week yield in cold hard CASH

Hows that gold doing again? :lol

Quote:
 
I bought some gold about $500 an ounce ago and am well up now.

"some" gold?
Doesnt sound like much - and how much income does it pay you every week?
Not even enough to buy.......... a single baked bean - a grain of rice?
Quote:
 
I read that you nearly got sucked into buying another flooder, down in Brisbane this time.

Sucked in again? I never got sucked in the first time - I was fully aware of the issues and the considerable rewards

I read that those smart men Soros and Paulson are dumping gold to the greater fool (insert pic of goldbug here)
Sucked in. :to:
Quote:
 
You're a little fish in a big pond down there Frank and will get eaten alive. Best you stay up north with the straw hat brigade.

Wow, if thats the best you have then you really havent got anything :lol
PS: I live in Brisbane you dullard
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The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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Admin
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Quote:
 
Gold rises on Syria worries

Precious metals rose overnight as some investors sought the safety of gold amid rising tensions in the Middle East while others stepped up their silver purchases after brighter economic data.

The most actively traded gold contract, for December delivery, rose $US15.90, or 1.1 per cent, to settle at $US1,412.00 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold prices recaptured the $US1,400 level as top US lawmakers expressed their support for President Barack Obama's call for a military strike against Syria. House Speaker John Boehner said only the US has the capability to stop Syrian President Bashar al-Assad and deter others from the use of chemical weapons.

"This is something that the United States as a country needs to do - I'm going to support the president's call for action," Mr Boehner said.

"The Middle East is a powder keg and one wrong move could lead to conflict, sharply higher oil prices and a new bout of 'risk off' sentiment, which would support gold," said Mark O'Byrne, research director at Dublin-based Goldcore Ltd, a brokerage that sells and stores gold coins and bars.

Gold is widely considered a hedge against geopolitical instability because it tends to keep its value better than other assets.

Meanwhile, silver futures rallied on a surprise increase in US manufacturing activity. The Institute for Supply Management said the US manufacturing purchasing managers' index rose to 55.7 in August from 55.4 in July, on a scale where readings above 50 indicate expansion. Economists had expected the PMI to slow to 53.8.

The data come a day after similar gains were reported in the pace of both China and Europe's factory activity.

"Obviously, the idea of demand moving forward is always good," said Dave Meger, director of metals trading at Vision Financial Markets LLC.

Industrial demand accounts for about half of all silver demand as the metal conducts heat and electricity better than copper. Silver is widely used in smartphones, flat-screen TV sets and other high-end electronics.

Silver for December delivery rose 3.9 per cent, or 91.6 US cents, to settle at $US24.429 a troy ounce on the Comex.

Silver futures also drew strength from stronger silver coin sales by the US Mint. Silver coin sales rose 26 per cent in August from a year earlier to 3,625,000 ounces, according to the Mint's website. Year-to-date silver sales, 33,075,000 ounces, have nearly equalled 2012's full year total of 33,742,500 ounces.

Read more: http://www.businessspectator.com.au/news/2013/9/4/markets/gold-rises-syria-worries
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miw
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Just having a look at the technicals for gold, it is hard to find a chart that looks more bearish.
Posted Image
On the daily P&F chart, the bear trend that started earlier this year is well-and-truly intact. What is more, buying has repeatedly failed to go back through resistance. Syria juiced things, but it looks as if that rally has failed. If the price drops back below about USD1360, the current long-pole reversal attempt will fail and all eyes will be on the USD1180 level. The other thing to note from the 1-day chart is that the long consolidation from the peak in 2011 is well-and-truly broken out on the downside. The consolidation is so long that a downside target needs a logarithmic chart to estimate. From this chart the downside target would be negative.
Posted Image
The weekly P&F chart points to a downside target around the USD800 mark.
Posted Image
The 60-minute chart has recently shown the buy-side failing to reach higher levels followed by a short-term sell signal.

It is a fairly compelling case to go short with a reasonably tight stop. (Say USD1430 on the upside) Risk/reward is better than 10:1.
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Edited by miw, 5 Sep 2013, 07:04 PM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
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Pig Iron
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Bogan scum

goldbug
4 Sep 2013, 02:13 AM
Hey I'm not the one who bought property in a flood prone backwoods town. I bought some gold about $500 an ounce ago and am well up now.
well i think you are lying because i'm pretty sure there is a post on here with you claiming you paid $800/oz. the price you paid appears to be going down with the gold price.

but let's be generous and say you did buy at $500/oz in AUD ( i know how you like to compare gold in AUD all the time).

Posted Image

the last time gold was even near $500/oz AUD was 10 years ago. so you've held that gold for ten years and it's now worth 1500/oz AUD. it's averaged just 11.7% in AUD terms over that time.

property has PAID 4%/pa for those 10 years and it's risen by about 7%/pa or more. you are yet to realize any profit from your gold at all.
I am the love child of Tony Abbott and Pauline Hanson
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Bardon
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Twelve pages in and not one snippet on why the fuck folks buy that shiny stuff yet.
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Pig Iron
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Bogan scum

Bardon
5 Sep 2013, 11:05 PM
Twelve pages in and not one snippet on why the fuck folks buy that shiny stuff yet.
they don't even know why themselves.

gold down to $1366. as i pointed out days ago, the rally is over.
I am the love child of Tony Abbott and Pauline Hanson
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Bardon
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Pig Iron
6 Sep 2013, 10:35 AM
they don't even know why themselves.

gold down to $1366. as i pointed out days ago, the rally is over.

Maybe it will bounce back depending on the election.

I just want to know why you would buy it, it looks like it will remain one of life's golden mysteries.
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