Gold Bullish or Bearish

[SunTrader 10]

Left out one:

 

At what point do you start selling?

[Obsidian 10]

buying below 1490 = trying to catch a falling lightsaber imvho

[MightyMouse 12]

Ill stop buying when they stop printing money. I'll continue to buy on weakness. This is a long term position, not a trade. Rather have gold than worthless dollars.

Maybe 2020 they will turn off the printing presses.

 

Central Banks wish your hyper-inflationary theory is correct. In fact that is what they are trying to do because they fear that they cannot prevent asset prices from falling. When all the gold bugs realize that the opposite of what they were expecting is occurring, we will see gold at $12 an ounce.

[bobcollett 10]

For those Gold traders who consider fundamentals, there is a positive correlation between the gold price and FOOD prices. When there is food price inflation, the price of gold rises.

Now over the last week CORN has gone up big time because of drought conditions in parts of the USA.

Expect a correction in gold .......UP.

Caution. Corn is only a small part of the food chain . Not all foods are going up, so expect the gold correction to be small.

regards

bobc

 

PS Better still, BUY CORN Futures

[SunTrader 10]

Gold has been following Silver's lead since the double top last Aug/Sept.

 

Gold made slightly higher swing high while Silver made a slightly lower swing high.

 

Silver having more practical uses in industry is falling with the slowing growth rate in the world economy. Nothing more complicated than that.

[Obsidian 10]

weekly, daily, 4h..all bearish

 

 

(who cares about corn's future? its the same old corn)

[bobcollett 10]

Heres a chart for those interested

regards

bobc

[marketboy 10]

The best analysis i've seen was by Cullen Roche at pragcap.com

 

Lots of folks still think many governments are printing to much money and somehow gold would be safer... (not sure why gold has more value than anything else if it is armagedden ;-).

 

There used to be a strong correlation of gold to US inflation, but not so much the past decade or so. Money creation doesn't necessarily lead to hyperinflation, and the US has been more in deflation, but gold still goes up.

 

it is because the demand for gold is from India and China. Watch the CPI in China and you'll see the most curent influence on gold prices.

[SunTrader 10]

IMO that is stretching the definition of the word similar.

[SIUYA 11]

yes great chart to prove a point ......what happens when you put them on the same vertical axis.

 

I was unfortunately previously associated with someone who used to claim....

 

Gold is a great inflation hedge.....(and in the same breath)

If gold were to be inflation adjusted it would be worth $5000.

 

amazing when you change the horizontal axis as well to prove a point, or go back 100 years to show a short term trend.

[MightyMouse 12]

yes great chart to prove a point ......what happens when you put them on the same vertical axis.

 

I was unfortunately previously associated with someone who used to claim....

 

Gold is a great inflation hedge.....(and in the same breath)

If gold were to be inflation adjusted it would be worth $5000.

 

amazing when you change the horizontal axis as well to prove a point, or go back 100 years to show a short term trend.

 

It is funny to hear both, especially when it is from the same person, but I suppose your associate is right about the inflation adjusted price of gold. The comment about the inflation hedge is that it is the commonly used hedge against inflation. Gold and other precious metals are seen as being good stores of value. Inflation erodes value in intangible assets. Gold is a good store of value, but by no means is it a great or perfect store of value and, therefore not a perfect hedge against inflation.

[SIUYA 11]

exactly.....how with a straight face you can say....

 

this instrument is a great hedge against inflation,

and then in the next breath say,

it is cheap - because it has been such a poor hedge against inflation in reality.

 

If you find chart to back your idea then its all good.....extend the chart or change the comparison.....different story

 

sales pitch, sales pitch, sales pitch.........:doh:

[bobcollett 10]

weekly, daily, 4h..all bearish

 

 

(who cares about corn's future? its the same old corn)

 

Gold now trading at 1590,an increase of 1.76% for the day.:missy:

I suggested to my wife I close my position and we go out for supper.

Or I hold over the weekend and we have soup.:crap:

I wont tell you my decision. It could influence the gold price:haha:

regards

bobc

[Obsidian 10]

in the past I would think that gbp/usd chart is ugly...I see nothing compares to gold chart :rofl:

 

meanwhile 1600 is still key to the upside...

[SunTrader 10]

1600 is just a BRN to me but the more important zone is high 1620's to low 1630's:

[jimbo320 10]

Get ready chaps, remember the upside on gold is unlimited due to government induced hyper inflation ...

[SunTrader 10]

If that is all that is needed how come we haven't seen $25000 gold?

 

How much funny money does the fed need to print.

[Obsidian 10]

grinding slowly.......

[Obsidian 10]

according to the daily chart 1641 and 1656 will be the next stops, close above 1620 will confirm that...

[SunTrader 10]

Except 1627-1630 resistance zone, for the last 4 months, is still in the way.

[jimbo320 10]

Up up. Breakout soon.

[Obsidian 10]

next week's close will probably be above 1630...

[jimbo320 10]

ECB turning on the presses. It's the only way.

[SunTrader 10]

What was today's high?

 

Oh that's right - right in the resistance zone I've mentioned repeatedly.

 

On the biggest volume in weeks. Looks like distribution to me.

 

Maybe it breaks it ..... and maybe it doesn't.

[jimbo320 10]

Perhaps a buying opp will present itself. Who knows. No sign of the bailout easing, just throwing more printed money at the bad debt. Only means one thing for gold.

Up up up. 🎉🎉🎉