DislikedRightly said. Looks like some institutional buying from yesterday between 1775-1785 and today 1790-1800. hmmm...Ignored
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #10,541
- Sep 21, 2011 6:41am Sep 21, 2011 6:41am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #10,542
- Sep 21, 2011 6:44am Sep 21, 2011 6:44am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
i dont know who but someone said that there was a pb forming 
i dont think it formed. Price still looking to drop!
i dont think it formed. Price still looking to drop!
Have I got something on my face, SOLDIER?
- #10,545
- Sep 21, 2011 7:07am Sep 21, 2011 7:07am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #10,546
- Sep 21, 2011 7:19am Sep 21, 2011 7:19am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #10,547
- Sep 21, 2011 7:55am Sep 21, 2011 7:55am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #10,548
- Sep 21, 2011 8:03am Sep 21, 2011 8:03am
I would not be surprised if the price is knocked down just ahead of the 2:15 announcement. Not sure if everyone noticed what happened to gold (in USD) just five minutes before the swiss franc was devalued, but it certainly smells fishy.
Time will tell, but it could be a big mistake to take anything too risky on ahead of this announcement. It may be anti-climactic, but caution is warranted.
Whichever rumour mill wins the day probably dictate price movement, but I still think the HUGE and ongoing rise in Chinese demand should support prices above 1700 and up to 2000. Overtaking India as a gold consumer is a big deal. China is set to purchase a whopping 50% of global gold production this year. Where does that leave demand elsewhere? Do people think central banks are conspiring to coax China into buying gold before knocking down the price? I sincerely doubt this scenario.
On the other hand, the Chinese gov't may have an interest in knocking down price so it can buy up even more at lower levels in reaching its alleged gold standard objectives. They might then release news releases to their citizens warning of a sharp drop. This is obviously a baseless speculation.
Some things are certain - there is NOT that much gold in the world. Production has not kept pace with the growth of wealth in the world. Demand is obviously more robust at lower price levels, but is bought at 1700 readily (as indicated in recent news reports). Another spike higher might make 1800 seem to be an attractive price.
Both bulls and bears engage in spreading rumours, but anyone who says gold is in a bubble has yet to make their case with evidence. Indexed to what? The gold silver ratio? People seem to base their assessment of gold's valuation without accounting for increasing production costs, inflation, steadily growing global demand, and an enormous debt problem. Do people really think the younger generation will be able to dig its way out of the baby boomer hole? Should they honour debt to enrich bankers and bond holders if they aren't even receiving the services and programs for which the debt was incurred?
Talking heads nearly always miss the boat, but they do have a lot of power to persuade the masses. Time will tell.
Time will tell, but it could be a big mistake to take anything too risky on ahead of this announcement. It may be anti-climactic, but caution is warranted.
Whichever rumour mill wins the day probably dictate price movement, but I still think the HUGE and ongoing rise in Chinese demand should support prices above 1700 and up to 2000. Overtaking India as a gold consumer is a big deal. China is set to purchase a whopping 50% of global gold production this year. Where does that leave demand elsewhere? Do people think central banks are conspiring to coax China into buying gold before knocking down the price? I sincerely doubt this scenario.
On the other hand, the Chinese gov't may have an interest in knocking down price so it can buy up even more at lower levels in reaching its alleged gold standard objectives. They might then release news releases to their citizens warning of a sharp drop. This is obviously a baseless speculation.
Some things are certain - there is NOT that much gold in the world. Production has not kept pace with the growth of wealth in the world. Demand is obviously more robust at lower price levels, but is bought at 1700 readily (as indicated in recent news reports). Another spike higher might make 1800 seem to be an attractive price.
Both bulls and bears engage in spreading rumours, but anyone who says gold is in a bubble has yet to make their case with evidence. Indexed to what? The gold silver ratio?
People seem to base their assessment of gold's valuation without accounting for increasing production costs, inflation, steadily growing global demand, and an enormous debt problem. Do people really think the younger generation will be able to dig its way out of the baby boomer hole? Should they honour debt to enrich bankers and bond holders if they aren't even receiving the services and programs for which the debt was incurred?Talking heads nearly always miss the boat, but they do have a lot of power to persuade the masses. Time will tell.
- #10,551
- Sep 21, 2011 8:35am Sep 21, 2011 8:35am
I would not be surprised if the price is knocked down just ahead of the 2:15 announcement. Not sure if everyone noticed what happened to gold (in USD) just five minutes before the swiss franc was devalued, but it certainly smells fishy.
Time will tell, but it could be a big mistake to take anything too risky on ahead of this announcement. It may be anti-climactic, but caution is warranted.
Whichever rumour mill wins the day probably dictate price movement, but I still think the HUGE and ongoing rise in Chinese demand should support prices above...
Ceteris Paribus, my sole discontent with gold is the mindset "it purports". Many argue that... "oh well, its a store of wealth, or it protects me from the big bad bankers etc.." RUBBISH.
We know what it's primary use is today, lets not fool ourselves. --> A get rich quick scheme. I.e. SOMETHING FOR NOTHING.
How in the hell can one delude themselves into thinking that by merely owning a piece of metal that he/she will strike it rich? Ya kno, Vacations, New home, sports car... shopping sprees. GREED
Don't even get me started on silver...
. heh, one guy mentioned that when the world crumbles, "we will be the new affluent class".I suppose when the fiat system ends we will all be at the mercy of Gold and Silver bugs who will reign supreme above all else.
Pure comedy which sadly will not end well.
- #10,552
- Sep 21, 2011 8:46am Sep 21, 2011 8:46am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
Interesting words, yes; most of it being largely true.
Ceteris Paribus, my sole discontent with gold is the mindset "it purports". Many argue that... "oh well, its a store of wealth, or it protects me from the big bad bankers etc.." RUBBISH.
We know what it's primary use is today, lets not fool ourselves. --> A get rich quick scheme. I.e. SOMETHING FOR NOTHING.
How in the hell can one delude themselves into thinking that by merely owning a piece of metal that he/she will strike it rich? Ya kno, Vacations, New home, sports...
all very true - but you don't have to be a crazed gun-toting, barbed-wire and toilet paper hoarding nut to TRADE gold or silver.......
beeb
- #10,554
- Sep 21, 2011 8:57am Sep 21, 2011 8:57am
all very true - but you don't have to be a crazed gun-toting, barbed-wire and toilet paper hoarding nut to TRADE gold or silver.......
beeb
You also don't need to have dehydrated food supplies and a nuclear bunker to think owning physical silver is a good move for the medium term.
- #10,555
- Sep 21, 2011 9:00am Sep 21, 2011 9:00am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
Hilarious.
You also don't need to have dehydrated food supplies and a nuclear bunker to think owning physical silver is a good move for the medium term.
btw re silver manipulation - if you haven't done so already, suggest you google "andrew maguire king world news interview" - there are two, both of which are v interesting imo
beeb
- #10,557
- Sep 21, 2011 9:09am Sep 21, 2011 9:09am
- | Commercial User | Joined Oct 2010 | 1,778 Posts
Wow, this is one of the best articles iv read yet! Thanks for the read
yw
imo it's worth bookmarking kwn as they have some interesting stuff....
beeb
- #10,559
- Sep 21, 2011 9:24am Sep 21, 2011 9:24am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
