Gold Breakout
- Thread starter BuggedOut
- Start date
Shippeevt said:Well if aud to USD is .7034 right now, wouldn't it be gold spot in USD 1217 X 1.2966 =1577.96? Isn't gold in aud in the 1700 'swrcmad said:It's not.Shippeevt said:
It just depends which end of the spread you use for calcs.
Check your calculations again
If the AUD went down to 50c then our gold price would be double the US price would it not?
BuggedOut said:
Have to agree... The timing of the spikes is interesting not sure what to make of it? Even with China open you don't normally see that timing. Perhaps someone is buying up after hours via Proxy....in which case they timed the London spike perfectly. How could they possibly know that was going to happen.
Just broke through $1200 USD after a few days of consolidation.
This could be big!
Let's see....1200 -> 1260 (increase of 5%) in about 21 hours. Yeh, I'd say that was a breakout...and I'd say that it was pretty big.
The bottom is IN. The downtrend is DEAD. Gold bulls rejoice!!
SilverDJ
Well-Known Member
HoldMeTender said:
Depends entirely if you believe the GSR (Gold-Silver Ratio) will "return to norm"
There is no real compelling evidence that it will or must, just that people want to believe it.
BTW, if it does, then silver has the better prospect.
But as I posted in another thread, gold went up 20% since 1st Jan, silver went up only 15% (AUD)
I reckon short term Gold, but medium term Silver.
Silver hasn't technically broken out of it's downtrend yet, but I don't think it is too far away. I don't really buy into the whole GSR thing though. It more that I see Silver lagging gold, but having a higher beta (volatility) so when it goes up (or down) it's move is more severe.
Silver hasn't technically broken out of it's downtrend yet, but I don't think it is too far away. I don't really buy into the whole GSR thing though. It more that I see Silver lagging gold, but having a higher beta (volatility) so when it goes up (or down) it's move is more severe.
FortySeven
Member
Shippeevt said:
Or more simply: 1217/.7034= $1730
HoldMeTender said:Well, following some gut compulsion I sold some gold and bought a little silver today (but with most of the proceeds going against debt..). No real analysis behind it, just seemed to happen. Guess I'll know soon if it was the right move
It's not something to trade on and doesn't really mean or prove anything but in that line of reasoning this has always made me feel a bit better about doing that:
Silver goes up 300% and we've not even broken a non inflation adjusted price it's hit twice, inflation adjusted nowhere near.
Gold goes up 300% and it's front page news around the world and you are probably buying canned food.
Having said that, if the great debt experiment fails it will be gold that backs things and might go mad with silver bringing up the rear on a halo effect.
