back to below 9p or 8p
gold price is now under 1200
down shes goes, why people selling?
who sold 2 million shares?
overbought
people are selling because shg is overbought and sp will not go any higher unless theres a miracle or a re rate
Re: Solid production figures Yes, agree and closed above the cloud today.Looking for 200 ema to be very broken soon.GLTA
Solid production figures Today's news should attract a bit of interestTad
Re: The start of the end? I started to buy into gold miners in 2012, far too early and lost a lot on selling out. Painful at the time, especially as div-paying large caps had continued to do so well. But now it doesn't seem so bad, the prospect of gold having bottomed and miners absolutely trashed. The suppression of the gold price by the US Fed is interesting ... why do it?Well obviously maintaining confidence in fiat currency must be top of the list. Expanding the Fed's balance sheet using QE (to save the banking system) makes maintaining confidence in the fiat system the top priority. Allowing that confidence to inflate share prices was part of the plan to re-create the wealth effect after 2008 Lehman etc.But keeping gold low - and instrumentally effecting a near 40% fall in its price has made gold attractive, and the BRICS countries have been accumulating gold. I'd be surprised if the US Federal Reserve didn't anticipate this. But was this simply an unfortuate consequence or or part of the plan? We know that QE1 routed newly printed $ to be given to banks outside as well as inside the US. Investment banking is effectively global, linking virtually every country with risk. So are the US deliberately allowing China for example, and maybe even Russia, to accumulate gold to bring their reserves up closer to that of the US and other western countries. That would be an honourable purpose and give confidence to the pursuit of world economic cooperation. After all, future wars are more likely to be staged on an economic stage rather than militarily - viz: Russia and the Ukraine crisis.You may have heard of Jim Rickards - every commentator has a self serving agenda, but this guy has worked with the US govt and is well respected.[link] he's right, then we shouldn't expect gold to go through the roof just yet. On the other hand, if China is the critical consideration for the US, maybe they've been stashing away far more than they're letting on.Tad
Re: The start of the end? Great points Tad, Ill have a read of that this evening. I remember the Basel 3 but it seemed to have died a death with the US refusing to get on board. I hadn't realised that countries could still opt in.Well done you for selling on the way down, I wish I had! I honestly see a lot of potential money to be made on the way back up and beyond. I think one's long terms view on gold determines largely on how much you believe the price has been suppressed. Pundits like Trader Dan see a lot of the Gold Bug's manipulation theories as rubbish and view the decline in Gold as simply part of the overall price decline in commodities. I sit more in the middle in that I believe the price of gold was due a fall with the deflationary backdrop but the commercial banks took advantage of this and have taken it down far more than it would have gone under normal supply and demand/market conditions. For me it's a bit similar to the decline in oil which was no doubt taken down initially for political reasons but broke long terms support levels and has now taken on a life of its own as stop losses were triggered and the algo's took over.I'd be happy to see $1,500 gold again this year and then perhaps a retrace before it tests all time highs next year.Cheers
Re: The start of the end? These were the original BaselII proposals concerning gold's status[link] will be interesting to see which countries/banks include gold as a tier 1 asset. We shouldn't have to wait too long to find out.Tad
Re: The start of the end? The Basel III requirements that should be transparent from January 1 2015[link] page 16 for what are considered as tier 1 securities. It is my understanding that the committee wanted to explicitly include gold but they buckled under pressure from the US but got the implied concession that each country could use discretion and, by implication, could include gold reserves.Interesting year ahead eh?Tad
The start of the end? Or will the US Fed & its commercial banks try once again?[link] wonder if MrS Yellen is a bit angry with the Swiss for floating the Swiss Franc? Or are the Swiss Central Bankers aligned with Basel III proposals to recognise gold as a tier 1 security?The Swiss Central Banj certainly acted with independence last week when it scrapped the tie with the Euro. Maybe this is a strong signal that Mrs Yellen should take notice of at her peril.After all, more manipulation simply delays the evil moment when it all folds - and she might be thinking that it's early enough in her turn as head of the US Federal reserve to do what Mr Bernanke couldn't?Interesting week ahead.Maybe you should get in soon rather than later CNS?Then again, it could be yet another failed breakout? Maybe ... maybe not lol.I'm finally happy that I sold my gold shares on the way down and bought SHG at what I hope was near the bottom. There, I'll probably be proven to be overly smug in the weeks ahead now.Tad
Re: Gold price I'm out of touch with AAZ. Must check. Got concerned about the relative small % of higher grade ore and the enduring problems with the new process.Silver could be hugely volatile.tad
Re: Gold price No not yet. I'm in no rush but I've been watching gold for four years now and I honestly think the bottom is in.Could be wrong.Freeing up some cash and then looking to put some in maybe here, maybe aaz, few others I like. Even Arian silver looks like a possibility . Need to do a lot more research on that one but I'd love some leverage on silver.You?