The Gold and Silver Thread

[Toro]

I increased my short in gold this morning. It is a trade and it is small.

 

[Toro]

Gold is at $1800. I covered the majority of my short position but still keep a position on. I will be watching the $1730 area.

 

[Toro]

I covered my small gold short for a small profit.

 

[Toro]

I have a small short position in silver.

 

[KissMy]

Are the coordinated Central Bankers really going to ease further or is this a head fake. Gold keeps trying to correct back to the moving average & the Central Bankers keep jawboning but not advancing their easing. I have been to busy lately to watch the market news.

 

[KissMy]

Donald Trump Accepts Gold Instead of Dollars From Tenant

For the first time ever, Trump will accept today gold bullion instead of dollars for a lease deposit from his newest tenant in one of his marquee properties, 40 Wall Street, a 70-story skyscraper in Manhattan's Financial District... Trump will accept the gold at an event in the lobby of the Trump Tower at 725 Fifth Avenue. Usually, Trump gets a certified check for a security deposit when leasing space in one of his office towers.

 

[domonkoz]

I have a mineral rights claim of a few hundred acres in Breckenridge CO, right near the blue river. Ive taken a few grams out, nothing major, just running material through a sluice box. But you try swinging a pick axe at 10,000 feet, into very rocky dirt. Out of 4 of us I was the only one who didnt have to go home from altitude sickness. Fine gold though, our friend has pulled 3 ounces out running a highbanker in another area up there. Took him 14 trips total over the year, but still proves its there for the taking, its all in how you set up.

 

[Valerie]

I pity the fool who bets against the US Dollar!

Gold, Acting Like A Commodity, Plummets In The Face Of A Rising Dollar - Forbes

 

[Trajan]

Gold is at $1800. I covered the majority of my short position but still keep a position on. I will be watching the $1730 area.

good call. I am making calls right now lining up my sales. just in case, at 1550, I head out the door to my dealers.

 

[percysunshine]

I have a mineral rights claim of a few hundred acres in Breckenridge CO, right near the blue river. Ive taken a few grams out, nothing major, just running material through a sluice box. But you try swinging a pick axe at 10,000 feet, into very rocky dirt. Out of 4 of us I was the only one who didnt have to go home from altitude sickness. Fine gold though, our friend has pulled 3 ounces out running a highbanker in another area up there. Took him 14 trips total over the year, but still proves its there for the taking, its all in how you set up.

Most of the gold mines near Breckenridge make more money off of showing tourists what a gold mine looks like than they make from the gold in the mines.

 

[Toro]

I covered my silver short.

Yesterday.

Just before the Fed meeting.

It's just been that type of year...

 

[Toro]

Overnight, gold fell to $1530 and silver touched $26. This is what a liquidation feels like.

 

[Trajan]

Overnight, gold fell to $1530 and silver touched $26. This is what a liquidation feels like.

not yet.

 

[Valerie]

I pity the fool who bets against the US Dollar!

Gold, Acting Like A Commodity, Plummets In The Face Of A Rising Dollar - Forbes

^^^

Top Stories

Gold to Hit $1300 -- and 3 Other Commodity Shockers

Commodity and Currency Predictions

Strong Dollar/Weak Prices: These are the peas and carrots of commodity pricing. A strong dollar wants, almost needs, weak commodity prices for the world to make sense. Despite occasional divergences, Ross notes that "overwhelmingly you've seen strong correlation between a stronger dollar and a weaker everything else." We've got that relationship working now, meaning a Ross strong-dollar call implies weaker commodities going forward.


Yahoo! Finance - Business Finance, Stock Market, Quotes, News

Gold Oct 11
(COMEX: GCV11.CMX )
Last Trade: 1,684.10

 

[Zander]

Overnight, gold fell to $1530 and silver touched $26. This is what a liquidation feels like.

not yet.

You still clinging to your dream of $2000.00 gold ??

 

[KissMy]

Overnight, gold fell to $1530 and silver touched $26. This is what a liquidation feels like.

not yet.

You still clinging to your dream of $2000.00 gold ??

Just as predicted gold corrected above its 200 day average before continuing its bull run to new highs. Unless the USG makes REAL budget cuts in excess of $4 Trillion, gold will soar parabolic.

 

[Toro]

not yet.

You still clinging to your dream of $2000.00 gold ??

Just as predicted gold corrected above its 200 day average before continuing its bull run to new highs. Unless the USG makes REAL budget cuts in excess of $4 Trillion, gold will soar parabolic.

Gold went through, then came back to and bounced off the 150 DMA line.

I still don't trust it here. I want to see more backing and filling first.

 

[Zander]

not yet.

You still clinging to your dream of $2000.00 gold ??

Just as predicted gold corrected above its 200 day average before continuing its bull run to new highs. Unless the USG makes REAL budget cuts in excess of $4 Trillion, gold will soar parabolic.

No, it won't. It's done, cooked, over. I checked my crystal ball and everything!

 

[KissMy]

You still clinging to your dream of $2000.00 gold ??

Just as predicted gold corrected above its 200 day average before continuing its bull run to new highs. Unless the USG makes REAL budget cuts in excess of $4 Trillion, gold will soar parabolic.

No, it won't. It's done, cooked, over. I checked my crystal ball and everything!

99.1% debt to GDP ratio & climbing, $115.9 Trillion in un-funded liabilities & climbing, of course, there is nothing to see here.

 

[Toro]

I'm beginning to look at gold again. It's fallen right back into the channel in which it has been trending for the past nine months. Also, since the bull market started in 2001, there have been 16 times when the RSI for gold has fallen below 35. And 16 times, gold was up six months later by on average 14%. Using this strategy, a buy signal was given on Sept 23 when gold hit $1649. If the pattern were to continue, gold would expected to be $1877 by March.

Two bullish and two bearish points. First, for the bulls, talks of a bailout fund in Europe is very bullish for gold in the intermediate term since it would devalue another fiat currency, though it might trade down in the near term as fears of a banking implosion are off the table. Also, we are in the strongest time of the year for gold, which is typically Sept through March.

For the bears, if the talks of a bailout fund collapses, gold would be at risk as it could lead to a flight to the dollar and liquidity being withdrawn from the system. Also, the 16% decline over three sessions in Sept must be respected. That is a huge move that may be foreshadowing the end of the bull market.

I wrote earlier that if form holds, gold should retrace to the 150 day moving average, which was the $1590 level. After slicing through to $1532, we did that, and now appear to be bouncing along it.

I have generally played gold through the options markets and leveraged ETFs over the past few years, but given the risks mentioned above, I would be more inclined to buy plain vanilla ETFs such as the GLD, PHYS or SGOL, though I might change my mind.