Is the small rally now prediction of a BHO win ? According to the FSN (Jim Puplava) http://www.financialsense.com/finan...m-puplava/gold-stock-time-to-reap-the rewards There has been big institutional gold buying since Friday ? do they know something we dont ? Individual buying is down ??
I purchased 20 oz's yesterday plus a little platinum. Apparently there is some kind of Indian celebration next week resulting in queues of buyers. ABC told me if I wanted to miss the queues then I should pick up my gold next week Wednesday.
I'd say the bottoms in... the only questions going forward is when QEi+ is announced and when Iran war starts
From 1685 this morning to 1725 as soon as Obama wins and is on the news this afternoon....thats $40 increase in a matter of hours!
So glad I got my orders in at midnight... always nice to trade the bottom esp after the RBA rates decision punched AUD upwards. Thought gold was oversold on fridays smackdown, but wasn't expecting as large a turnaround as this this soon.
I made the call about one month ago for a gold bottom in the first week of November in the $1680s USD. This was based on 50% - 61.8% retracement from the rally in both time and price, demand factors, as well as seasonality. I averaged in on physical silver at $30.50 AUD and gold futures at 1675 and 1680 USD. Regret not taking a larger position as I could almost certainly take a partial liquidation at a limit 1740 USD for a quick profit. I'm bullish going into December now [at least!]. The only X-factor is the sharemarket: could we see some plunge in stocks as many commentators are forecasting? A stockmarket fall [if it does happen] may cause temporary volatility in gold [maybe a flight to USD] but I don't think it's causing a gold price plunge. Remember what happened to stocks after the Obama victory in 2008 November? Gold pretty much shot straight up for years. Stocks put in a low in March 09 some 4 months after the election but by then gold had been powering up for 4 months. Things to look out for in the next few months in my mind are: Gold price seasonality US Fiscal Cliff US unemployment numbers - likely to go up above 8.0% real soon.
AUD$ 53.08 per gram as we speak. Still cheap. Load up. I just walked out of the Perth Mint on Monday with another $4900 worth of AU and AG; no ID disclosure for purchases under 5K $53.08 will look ridiculously cheap come the Fiscal Cliff........in only 2 months.
Seems like it's on the increase after the elections. This is a secondary smaller bull run, unless more news come in and stimulate gold higher, it should drop towards the end of November.
http://kingworldnews.com/kingworldn...cks_Today,_Apple,_Gold,_Silver_&_the_VIX.html Well closed above 1727.50 and seems someone wants it to stay below 1740 so I am long if it breaks 1740 with stops in @1726
^^^ I was about to post on the weekly - why shouldn't I regard last week's candle as a 'bullish engulfing' candle after a downtrend? The more so when the chart has had a golden cross on the daily, as mentioned, and the Daily momentum indicators look to be reversing at the right level?
Dipping again. I think this will be a short-lived increase. The second hump is lower and the power of the increase is rather weak... could we see prices drop further in late 2012?
