Gold Setting Up For An Explosive Move To The Upside!

[Ronnie 666]

I too am waiting for gold to approach this zone but here is the problem.....
Once gold hits around $1130 mark, then it becomes a real gamble......will it drop to the $1000.....or will it finally bottom at around the mid $900 mark?
This is nearly a $200 decline which is going to make a big difference for gold stocks, which is what I hope to buy, so in the end I will probably pick a mid-point and stick with that.
If it does hit these levels, there will be zero confidence in the gold markets so it will not be easy to make a purchase when everything you read will be negative.....mining stocks going broke etc.....

We have just been there and that level in the gold price smashed the physical market. Will we retest $1180 ? Maybe but not while the US$ tanks. If the US$ keeps falling don't bet on any fall in gold, you will be very disappointed if you do. The time to buy was a few weeks ago. I think the low for 2013 is in. Others predict a new low in November at $1050 (Nenner) but he has been wrong as often as been right. If you are planning to buy put some of you cash to work now. Buy 20% now and wait. That is always a good plan when you are unsure.

 

[dccpa]

Ye i been watching Gregory mannarino because he dos daily posts on Youtube....But last night i was reading a few comments and one said straight out that Mannarino is always wrong...... That really made me think twice because I thought he was really on the ball.....

I'm just sitting back waiting for now i've already been burned earlier in the year.......I am being VERY cautious and am even possibly waiting for Jim Rogers $900-$1000 possible predictions?????

Realistically is would be smart to buy some now and then wait six months and buy some more at $1000 if that happens.....I dont know???/

I watched him for a while. You could lose a lot of money investing with his advice.

 

[dccpa]

Manufactured products that require the support of mass production and for no better term, high civilisation, meaning high-technology, global transport networks, extensive certification.

Such things like rubber products, adhesives, coatings, pesticides, herbicides, fungicides, propellants, refined alloys, batteries, tooling, etc and etc. Think about the things that you use everyday that require large scale manufacturing to produce... gold and silver is not on that list.

How do you rotate stock in things you don't use? The things you mentioned aren't used by most people.

 

[Silver Pauper]

I too am waiting for gold to approach this zone but here is the problem.....
Once gold hits around $1130 mark, then it becomes a real gamble......will it drop to the $1000.....or will it finally bottom at around the mid $900 mark?
This is nearly a $200 decline which is going to make a big difference for gold stocks, which is what I hope to buy, so in the end I will probably pick a mid-point and stick with that.
If it does hit these levels, there will be zero confidence in the gold markets so it will not be easy to make a purchase when everything you read will be negative.....mining stocks going broke etc.....

We have just been there(Can you clarify?) and that level in the gold price smashed the physical market. Will we retest $1180 ? Maybe but not while the US$ tanks. If the US$ keeps falling don't bet on any fall in gold, you will be very disappointed if you do. The time to buy was a few weeks ago. I think the low for 2013 is in. Others predict a new low in November at $1050 (Nenner) but he has been wrong as often as been right. If you are planning to buy put some of you cash to work now. Buy 20% now and wait. That is always a good plan when you are unsure.

bold emphasis mine... I assumed you were replying to tolly_67... but cannot find a correlation...

When has $1180USD been tested so that is can be retested... gold has not closed below $1200USD in 3 years... back in July gold closed at about $1210USD twice... but the recent drop did not see gold close below $1260USD... so not sure what you are talking about. Gold still has not broken a downward trend... I am hoping that gold will close well below $1200USD as I have some things I would like to buy at that price.

There is no reason for gold or silver prices to rise dramatically at this time... there is plenty of supply and little demand except for the bullion market, India has gone off-line, and the central banks are buying but have no reason to want the price to rise, so if the banks and big users work the market properly, supply will still exceed demand and prices will hold steady or decline. There is no significant cost increase today to mine, refine and mint bullion than it cost 2 years ago, only panic and speculation is going to push the price higher.

Also as the collapse gets closer, the people in the know are going to want gold and silver less and less, but be loading up on hard, productive assets which will make them extremely wealthy and powerful in the event of a crisis, these people will have more gold and silver they will ever need or want within months after the SHTF.

 

[Silver Pauper]

How do you rotate stock in things you don't use? The things you mentioned aren't used by most people.

You need to start looking at the basics that you need and use everyday, not your smartphone, tablet, and big screen tv, but how water, food, health and wellbeing, clothing, footwear, shelter, and transport are supplied and maintained for you everyday. Everything that I mentioned is consumed in large quantities everyday to support the basic living of each person on this planet.

And maybe I am not part of the 'most people' as I prefer to be on the supply side of the equation than the demand, the ability to manufacture and supply tools and resources to the community will be a powerful position of influence and wealth in a crisis.

 

[Ronnie 666]

I too am waiting for gold to approach this zone but here is the problem.....
Once gold hits around $1130 mark, then it becomes a real gamble......will it drop to the $1000.....or will it finally bottom at around the mid $900 mark?
This is nearly a $200 decline which is going to make a big difference for gold stocks, which is what I hope to buy, so in the end I will probably pick a mid-point and stick with that.
If it does hit these levels, there will be zero confidence in the gold markets so it will not be easy to make a purchase when everything you read will be negative.....mining stocks going broke etc.....

We have just been there(Can you clarify?) and that level in the gold price smashed the physical market. Will we retest $1180 ? Maybe but not while the US$ tanks. If the US$ keeps falling don't bet on any fall in gold, you will be very disappointed if you do. The time to buy was a few weeks ago. I think the low for 2013 is in. Others predict a new low in November at $1050 (Nenner) but he has been wrong as often as been right. If you are planning to buy put some of you cash to work now. Buy 20% now and wait. That is always a good plan when you are unsure.

bold emphasis mine... I assumed you were replying to tolly_67... but cannot find an correlation...

When has $1180USD been tested and retested... gold has not closed below $1200USD in 3 years... back in July gold closed at about $1210USD twice... but the recent drop did not see gold close below $1260USD... so not sure what you are talking about. Gold still has not broken a downward trend... I am hoping that gold will close well below $1200USD as I have some things I would like to buy at that price.

There is no reason for gold or silver prices to rise dramatically at this time... there is plenty of supply and little demand except for the bullion market, India has gone off-line, and the central banks are buying but have no reason to want the price to rise, so if the banks and big users work the market properly, supply will still exceed demand and prices will hold steady or decline. There is no significant cost increase today to mine, refine and mint bullion than it cost 2 years ago, only panic and speculation is going to push the price higher.

Also as the collapse gets closer, the people in the know are going to want gold and silver less and less, but be loading up on hard, productive assets which will make them extremely wealthy and powerful in the event of a crisis, these people will have more gold and silver they will ever need or want within months after the SHTF.

I am not sure what kool-aid you are drinking ?
http://www.theguardian.com/business/2013/jun/28/gold-price-low-federal-reserve-inflation

http://www.reuters.com/article/2013/06/27/markets-precious-idUSL3N0F31O620130627

http://www.bloomberg.com/news/2013-...ver-from-lowest-levels-since-august-2010.html


Gold hit US$1186 on June 27 2013 although most reported this down spike bottom as $1197.10 - YES BELOW $1200!!!

The rest of your discussion is speculative and without substance.

 

[Ronnie 666]

Kitco also confirms spike to below well $1200 on June 27th

 

[Silver Pauper]

...gold has not closed below $1200USD in 3 years...

I am not sure what kool-aid you are drinking ?

Gold hit US$1186 on June 27 2013 although most reported this down spike bottom as $1197.10 - YES BELOW $1200!!!

The rest of your discussion is speculative and without substance.

Comex has not closed below $1210USD in 3 years... there was a price spike below $1200USD($1186USD or so) and there was a settlement below $1200($1197USD or so)... but the markets have not closed below $1210USD since mid-2010... read what I wrote.

As for the rest of my post being 'speculative and without substance'... that is what all of us do... speculate about what is going to occur in the future... as for substance... I know for a fact that among other things you cannot eat gold, wear gold for footwear or clothing, it will not keep you dry in the rain or warm in the cold, you cannot ride it or drive it, and it is very uncomfortable to sleep on... so you will need to use your gold to buy things that you need... and I plan to be the person that you buy some of those things from... and if I have the things that you need to survive and possibly thrive... I could if I was so inclined extort all the gold and silver out of you that I wanted... and I could also be just the type of person to collude with other suppliers to ensure that maximum price is to be had on these things... and I know for a fact that folks who are really in the know are planning to exactly this and are putting their discretionary income into hard, productive assets as they already have enough gold, silver, copper in reserve to serve as currency for trading purposes... some of these people are personal friends and family.

And as for the price of gold and silver rising for any reason other than speculation... every article you posted... along with the research of various other forum contributors supports that judgement... panic and speculation that the USD and the world financial system is going to collapse sooner rather than later is the only price increase driver for gold... or maybe some good, old fashion manipulation by some of the big boys to make a few hundred million while they can.

 

[Ronnie 666]

^^^ you discussed closing prices - I discussed retest of the $1186 low. You brought up closing prices not me. I really don't understand what you are on about.
Gold hit $1180+ on June 27 2013 and people are expecting the market to retest that low. That is it?
I think ok I speculate that the low of June 27 is the bottom for 2013 and I don't think we are going down to $1000
You can speculate we are - no problem with that.
Time will tell

 

[Silver Pauper]

^^^ you discussed closing prices - I discussed retest of the $1186 low. You brought up closing prices not me. I really don't understand what you are on about.
Gold hit $1180+ on June 27 2013 and people are expecting the market to retest that low. That is it?
I think ok I speculate that the low of June 27 is the bottom for 2013 and I don't think we are going down to $1000
You can speculate we are - no problem with that.
Time will tell

No problem... I see the difference as what you and I call a test... which is fine. I see the spike down as result of a trader trying to trigger sell orders on the bottom side by throwing a market order into the fray, not as a test of $1180USD. I see those few weeks as a test of $1200 as twice there was a move to push through $1200USD, but there was too much market support to gain any momentum below $1200USD for more than a few hours of trading time. I prefer to look at closing prices than a single spike.

So we are really agreeing on the same thing... that there seems to be a floor around $1180USD to $1200USD and the recent drop in price did not get close enough to put any pressure on that floor since at $1265USD or so there was too many buyers and the market pulled back up.

I tend to agree with your speculation that the of low of June 27 is the bottom for 2013 and while the price of gold may drop as low as $1000USD in the near term, that price is not sustainable looking at cost of production. But I also do not see any support for a rapid increase of gold price in the near term either. As much as I hate to quote Court Jester, I am expecting gold to go sideways, but with significant volatility since nobody makes any money in a flat market, so keeping the prices moving up and down a $100USD or so every few weeks, keeps the money flowing for the traders who buy and sell.

 

[TheEnd]

The u.s debt problem is real but its not at panic/GFC 2 to stage yet......I really dont think this will happen at least until next year but probably even alot longer than that. Those bloody americans are as dumb as dogshit..... You would think there was a massive Gold rush occuring over there after last week but there just is'nt.....

All I can think is buy some now.....and also be very prepared to buy alot more if it does go to $1000....Either way you are still protecting yourself and it will also lower your averages.

 

[The Road Home]

The u.s debt problem is real but its not at panic/GFC 2 to stage yet......I really dont think this will happen at least until next year

The fun starts late 2015. There is still a mountain of debt that's needed to be taken on before the rug is pulled.

 

[TheEnd]

The u.s debt problem is real but its not at panic/GFC 2 to stage yet......I really dont think this will happen at least until next year

The fun starts late 2015. There is still a mountain of debt that's needed to be taken on before the rug is pulled.

Why 2015 and not say 2020 or more....Its all about how long theyr'e going to QE and print for?

 

[The Road Home]

Ye I know mate it was very late! I have to say i am very suprised that since the debt ceiling debacle we hav'nt seen an influx of new buyers rushing to pm's as a safe haven....... yet......Is it because everyone is dumb, or because they believe the USG will just keep borrowing to infinity and beyond.....I believe the latter is what is really happening.

p.s This aint gunna end pretty!

I received an email from Aust. Bullion Company today. They have dropped 1kg physical bullion prices down to almost the same price as unallocated silver. If this rush existed then I doubt that the bullion company would take such action. It must be an oversupply issue

I too received this although from ABC Gold in Sydney.

 

[The Road Home]

The u.s debt problem is real but its not at panic/GFC 2 to stage yet......I really dont think this will happen at least until next year

The fun starts late 2015. There is still a mountain of debt that's needed to be taken on before the rug is pulled.

Why 2015 and not say 2020 or more....Its all about how long theyr'e going to QE and print for?

The Bond market will not last that long, anyhow I said it will start not that it will end then.