Gold Has Biggest Loss of 2014 - all the reasons why

What a load of lies. I think Israel/Gaza trumps "Portugal Concerns Ease." No mention of the Putin and Merkal talks in Brazil. Is Germany being invited into the BRIC axis? The only thing holding it back is a good acronym!

This is manipulation! And of course, these low prices force PMs into strong hands which will be the West's undoing.
 
sammysilver said:
What a load of lies. I think Israel/Gaza trumps "Portugal Concerns Ease." No mention of the Putin and Merkal talks in Brazil. Is Germany being invited into the BRIC axis? The only thing holding it back is a good acronym!

This is manipulation! And of course, these low prices force PMs into strong hands which will be the West's undoing.
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Israel/Gaza may be business as usual with an upside for defence stocks.

Putin / Merkal / Brazil / China / gold accumulation / petrodollars / reserve currencies / etc. would be all part of a much longer game independent of short term low-percentage market swings. Not that they wouldn't opportunistically take advantage of such swings however to further an agenda.
 
I'll toss in a Citigroup beating 2nd quarter earnings giving broader strength to the US economy and US dollar kicker.

Gold is going to be volatile over the next two weeks or so imo as US 2nd quarter corporate earnings are reported which on a day by day basis will strenghten or weaken the US dollar which in turn will strengthen or weaken the gold price.
 
Jislizard said:
I keep forgetting to take profit!
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It's for the best lest you incur the Wrath of Pirocco and are forever labelled a member of the Money For Nothing club.
 
betterinvestmentthanshare said:
Someone dumped over a billion $ worth of gold this morning.
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It was gold futures, not physical.

A sharp sell-off in gold futures so far Monday is being blamed on heavy long liquidation, exacerbated when sell stops were triggered.
...
Gold forward offered rates signaled no major physical demand had emerged lately, meaning the rally mainly had been fueled by speculative traders, said Kevin Grady, president of Phoenix Futures and Options LLC.

...

"The big factor is this market was not brought up by the physical buyers. It was brought up by speculative buyers," Grady said. "As soon as they realized everyone was long and there was no real buyingon the first bit of selling that came in, the (previous) buyers ran and liquidated those positions."

Sell stops were hit, with one key level the failure of $1,310.90, Grady said. This resulted in a sweep of 6,500 lots, taking the August futures down to a $1,302.20 low.

Tommy Capalbo, precious-metals broker with Newedge, also cited profit-taking, with some looking to sell into the rally that had carried gold to its recent highs on safe-haven buying.

http://www.forbes.com/sites/kitcone...ng-liquidation-sell-stops-exacerbate-decline/
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SilverPete said:
betterinvestmentthanshare said:
Someone dumped over a billion $ worth of gold this morning.
Click to expand...

It was gold futures, not physical.

A sharp sell-off in gold futures so far Monday is being blamed on heavy long liquidation, exacerbated when sell stops were triggered.
...
Gold forward offered rates signaled no major physical demand had emerged lately, meaning the rally mainly had been fueled by speculative traders, said Kevin Grady, president of Phoenix Futures and Options LLC.

...

"The big factor is this market was not brought up by the physical buyers. It was brought up by speculative buyers," Grady said. "As soon as they realized everyone was long and there was no real buyingon the first bit of selling that came in, the (previous) buyers ran and liquidated those positions."

Sell stops were hit, with one key level the failure of $1,310.90, Grady said. This resulted in a sweep of 6,500 lots, taking the August futures down to a $1,302.20 low.

Tommy Capalbo, precious-metals broker with Newedge, also cited profit-taking, with some looking to sell into the rally that had carried gold to its recent highs on safe-haven buying.

http://www.forbes.com/sites/kitcone...ng-liquidation-sell-stops-exacerbate-decline/
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In other words, the price was falsely inflated by speculative buyers and their heavy long positions.
When these were unwound, POG dropped back down closer it's true-value. :P
 
If folk don't wake up soon to the nature of gold trading. They never will. Gold is long. Always has been. Try & short term trade it to your peril imo. It's a SHTF last resort. Not an investment. Not short term anyway.. It is sidelines @ present until the deck of cards fall completely. Til' then. Stack on me hardies ;)
 
Did anyone notice the last gold smack down this week caused by the dumping of over a bullion $ of paper gold, the following day almost twice as much was dumped and the price didn't hardly moved. my conclusion is that there was another bigger effort to slam the price of gold which did not work.

This is getting interesting.
 
Positive economic data and weak Asian demand seem to be dooming the gold price (this week).

Gold Price "Can't Rise"...

EDGWARE (Scrap Monster): Gold prices headed for their lowest Friday close in 6 weeks in London today, trading sideways at $1295 per ounce as European stock markets failed to follow Asian equities sharply higher on the day.

With Shanghai's stock market closing the week 2.9% higher, Shanghai gold prices ended 1.5% down at the lowest since 19 June.

India's Gems & Jewellery Export Promotion Council said gold bar imports to the world's former No.1 consumer nation doubled last month from the same month in 2013.

But in what Reuters calls "a seasonally slack period", improved supplies have seen Indian premiums over London gold prices halve this week, falling as low as $5 per ounce vs. late 2013's record level of $160 when the current import curbs first hit.

"In our opinion," say analysts at Commerzbank in Frankfurt, "the weak gold demand figures out of Asia not only China preclude any rise in gold prices."

"Positive economic data put a dampener on the gold market," reckons an Asian trading desk quoted by Reuters, "as risk assets caught a bid and safe-haven buying dried up."

"It will be political events that provide the market with some potential direction," says a Singapore dealing note after warning yesterday morning that gold and silver "look[ed vulnerable to a correction lower."

More: http://www.metal.com/newscontent/63...technical-correction-take-out-50--and-100-dma
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SilverPete said:
Jislizard said:
I keep forgetting to take profit!
Click to expand...

It's for the best lest you incur the Wrath of Pirocco and are forever labelled a member of the Money For Nothing club.
Click to expand...
I think in 2014 it's more loss than profit that is taken.
That's membership of the Nothing For Money club.
That's the next room.
There is a service hatch between the two.
A big one! :D
 
I just got a dejavu when revisiting this topic.
Remember 2011 summer? Golds price driven to its double $1900 top (following silvers peak end april) and you could create a near identical but inverted sentiment press articles list about gold. I remember a particular case in my region, where gold appeared on the front page of a big newspaper, and all pm dealers woohooing, mentioning and linking it. 1 month later its price was sold down to $1600.
 
That "brought up by the physical buyers" and "brought up by speculative buyers", just like those physical buyers don't sell lol. Look at all the new/not new silver for sale on auction sites ebay dealers wherever.
And just like physical buyers wouldn't be speculative buyers. What else than speculation is buying something (including dollars) purely as inbetween step towards what was really wanted, with a risk involved? It doesn't matter whether that something is delivered or a paper/electronic representation of it is delivered. That's just a practical choice, based upon the risks that people see, both in place and the time period of that they speculated upon.
 
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