Since Central Banks traditionally sell at the low and buy at the top, does this mean we'll be going to $650 after all?
The price will change if and when "physical" is no longer available ! Then start plotting your graphs. No one wants to get caught out again trying to stack when the price ramps up. Generally though, the flow is from west to east. When that stops, the price will change. The trick will be how to cash in.
If this "The price will change if and when "physical" is no longer available !" is going to be a driver for higher prices then gold is a bust. The gold we have stored only increases year on year. We will never run out of , or even run low on gold.
My guess is that even if Gold sinks lower in the next months and/or years, its price will eventually go up again when the next financial crisis looms... and that, frankly, is inevitable - the only question is, when will it happen.
SOME central banks buy high and sell low. Those with a desire to stabalise their currencies to give the outward appearance of normalcy. Russia is a country that wants to buy low and hold high. Only the money printing economies are going to fit that backwards paradigm, if the US started buying gold you might get worried. Of course if they started publicly buying a lot of gold it would not be a good signal generally although big buys or sales might be in their future as they try and game the world markets to play god on the exchange rate. Long story short we've established pretty strong support above $1200 even as the USD eats all the other currencies alive. It doesn't get much more bullish than that. The DXY adjusted gold price (at today's DXY) is about $1030 mid November last year, we're up $175 in 5 months, that's not bad at all. Gold has survived all the bad news and every week we wait is a week closer to the day gold comes good.
^^^Strong support? I shall have to disagree on this one mate I have some tightly rolled up news papers supporting the roof of the feed shed outside . I can see the water running down the tin and into the newspapers , yet they show pretty good support. Something to think about as the rain continues i guess Night night all>>>>>
It might not be the sort of TA support you'll pay to read about from some online report but gold has taken all sorts of apparently bad news and good things that didn't happen and yet here we are above $1200, a price it's either stuck at it jumped back to for most of the year.
Well the rain soaked into the bloody newspapers last night and when i woke up the shed roof had collapsed. Bugger
If you're serving humble pie it's only fair I supply the spoon. It'll be very interesting to see how we close tonight/tomorrow morning. All this on the back of neutral to ugly US data this week and a slide in equities, quite odd. Apparently the LBMA fix was partly to blame (they set at $1180).
I do not do humble pie. It was just luck of the draw that i happened to post that when i did. Other than that it is business as usual. Up ,down, down up , down up,up down. You know the drill
ummm no i dont know if i would eat that this is what you're looking for looks like a normal mushroom with brown gills underneath but a bit gold on the top pete u be a hospital case if u ate the other one methinks .
