The Gold and Silver Thread

[Ropey]

I just made some major movement into gold myself.

 

[Trajan]

We have taken the auspices.....The Trajanic Imperial Aureus Board says, buy and stand fast in the ranks!

 

[Ropey]

We have taken the auspices.....The Trajanic Imperial Aureus Board says, buy and stand fast in the ranks!

When it was ~1,300 I bought fairly large, and then when it made it past 1800 I sold. Back to buying...

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 ??

It's not a dream. It's a very good possibility imo...

 

[Toro]

FYI the 150 day moving average for gold is currently $1605.

 

[Ropey]

FYI the 150 day moving average for gold is currently $1605.

Are you going to spend your 1K (1024KB) rep power on some of it Toro?

 

[Toro]

I'm willing to give all my rep away as long as I get to say who it goes to.

 

[Ropey]

I'm willing to give all my rep away as long as I get to say who it goes to.

Give away? I was just making a joke on 1024 = 1K (large) = Buy gold...

It's just a play on words Toro. I'm like that. I play with words.

 

[Mr. H.]

Gotta reply to get that evil number out of the "reply" column.

Carry on...

 

[KissMy]

FYI the 150 day moving average for gold is currently $1605.

There you go. 3:30AM Gold bounced hard off of $1609. Time to buy for the $1700+ breakout.

 

[editec]

So what happens to the price of Au when Greece fails?

Does the end to the uncertainty make the gold market freak out, or become more sanguine?

 

[KissMy]

So what happens to the price of Au when Greece fails?

Does the end to the uncertainty make the gold market freak out, or become more sanguine?

If Greece fails that wipes out debt, so initially there is deflation & Gold goes down. But just like the failure of Lehman would have took down every bank unless the governments bailed them out, the failure of Greece will take down Portugal, Ireland, Italy, Spain & most of the Big Banks thus every bank.

There will have to be a massive bailout = Gold goes up.

 

[Toro]

FYI the 150 day moving average for gold is currently $1605.

There you go. 3:30AM Gold bounced hard off of $1609. Time to buy for the $1700+ breakout.

I'd like to see it consolidate first, backing and filling for a few weeks, bouncing off the 150 DMA. I'd feel more comfortable buying the $1700 breakout than buying right now because the chart still may be treacherous.

 

[KissMy]

Qaddafi's death will hurt gold's price for a few days.

 

[Toro]

The Fed is talking about more QE.

Federal Reserve officials are starting to build a case for a new program of buying mortgage-backed securities to boost the ailing economy, though they appear unlikely to move swiftly.

The idea would be to target any new efforts by the central bank at the parts of the economy that are most severely impeding a recovery—the housing and mortgage markets—by working to push down mortgage rates.

Lower mortgage rates, in turn, could encourage more home buying and mortgage-refinancing, and help the economy by freeing up cash for consumers to spend on other goods and services. Mortgage rates are already very low, but some Fed officials believe they might be pushed lower. Moreover, Fed officials believe their past purchase programs helped to lift stock markets, by driving investors from low-risk investments toward riskier investments.

Housing Market May Get Fed Aid - WSJ.com

 

[Toro]

Time to revive this thread.

I own some gold but not in the volume I've owned in the past. Gold seems to holding support here, but if it falls below $1670, it will break support and I'm gone.

 

[FireFly]

1929 = 2008

1933 = 2012

Here comes the second run on the banks & subsequent bailout.

 

[KissMy]

Fed secretly handed out $8 trillion

Move along - Nothing to see here.

In Recent News - Bank of America has developed a plan to issue nearly $3 billion in common stock to raise capital and reduce debt, changing course after saying for months that it did not intend to sell new shares.

 

[Toro]

Fed secretly handed out $8 trillion

Move along - Nothing to see here.

In Recent News - Bank of America has developed a plan to issue nearly $3 billion in common stock to raise capital and reduce debt, changing course after saying for months that it did not intend to sell new shares.

That Fed news is pretty something.

The BofA share issuance could be the catalyst to buy the shares.

In the meantime, I'm getting more confident that gold is holding and will make a move to $1800-$1900. As usual, I could be dead wrong.

 

[Valerie]

Fed secretly handed out $8 trillion

Move along - Nothing to see here.

In Recent News - Bank of America has developed a plan to issue nearly $3 billion in common stock to raise capital and reduce debt, changing course after saying for months that it did not intend to sell new shares.

That Fed news is pretty something.

The BofA share issuance could be the catalyst to buy the shares.

In the meantime, I'm getting more confident that gold is holding and will make a move to $1800-$1900. As usual, I could be dead wrong.

Couldn't we all...

 

[Trajan]

I am seriously thinking of liquidating some of my ancient numismatics. I bought a lot during the Clinton dip, $280-325 range....in a coupla of years I'll buy them back