i would guess that gold is over priced and the slightest issue that comes up that is negative for gold will drive it down constantly.
while on the flip side... gold had so many reasons to be over 1000 permanently over the last year and has failed big time. this means the news has to be earth shatteringly bad for gold to exceed 1000 firmly.
which is more likely to happen? in my opinion, the first paragraph.
You can see the reverse pictures that don't show much of anything going on the reverse.
The last two pictures capture the lighting of the contamination pretty well, I think:
I illuminated the coin with just one light; first on one side, then on another.
Note how the 'plug' has a whitish reflection on the side that the light comes from. Meaning that this is contamination on the surface of the coin and it is slightly raised. Also, it is translucent. And it's not gold. Gold would reflect yellow light. Glue would reflect white light.
Until gold falls below the $845-$865 range, the overall trend since 2002 is distinctly up. If we do get a fall below $900 coming up in August, you may only have 1-2 weeks to react to it. If gold stays above $905 in August, that would be extremely bullish. In fact, even above $880 would be very bullish.
Gold was down this week due to some strong dollar buying by the PTB. With 3 bond auctions going on, the dollar in jeopardy of falling to .77, and the Chinese in town to see how their dollar/bond investments will be doing down the road, it was important to show a strong dollar. Besides, it was due for a bounce back at previous support of 78.3. Gold also was powered down by the banks loading up on short Comex paper from last week. They purchased a huge amount of shorts up through last Tuesday (7/21) and have only added to them since. They finally tipped the scales over and sent gold falling.
"Gold also was powered down by the banks loading up on short Comex paper from last week. They purchased a huge amount of shorts up through last Tuesday (7/21) and have only added to them since. They finally tipped the scales over and sent gold falling."
Seems right, was thinking that somebody with mucho stroke was covering shorts, at least maybe getting out of the ones they had and into another position. So figure a K for an oz with a $50-$80 movement one way or another almost weekly; if you could load up on 100,000 oz, or the paper to 100,000 oz and you could influence the market with your purchases and sales, you could sure do some good. It seems that we are mere fleas at the end of a dog's tail as we covet our few ozs. The sobering thing is that we are all riding the same train with the exception that we hold physical and they hold paper. Hummmm...it will be interesting to see how the role of physical v.s. paper plays out.
Kip
Posts: 852
Comments
Worry is the interest you pay on a debt you may not owe.
"Gold falls for second day as oil declines, dollar strengthens."
is negative for gold will drive it down constantly.
while on the flip side... gold had so many reasons to be over 1000 permanently over
the last year and has failed big time. this means the news has to be earth shatteringly
bad for gold to exceed 1000 firmly.
which is more likely to happen? in my opinion, the first paragraph.
<< <i>Anyone know why the big drop? >>
Because I bought an old gold eagle and half eagle yesterday.
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To the best of the forum's collective knowledge, this is a blob of glue.
Refer to the images in this thread
You can see the reverse pictures that don't show much of anything going on the reverse.
The last two pictures capture the lighting of the contamination pretty well, I think:
I illuminated the coin with just one light; first on one side, then on another.
Note how the 'plug' has a whitish reflection on the side that the light comes from. Meaning that this is contamination on the surface of the coin and it is slightly raised. Also, it is translucent. And it's not gold. Gold would reflect yellow light. Glue would reflect white light.
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
Gold was down this week due to some strong dollar buying by the PTB. With 3 bond auctions going on, the dollar in jeopardy of falling to .77, and the Chinese in town to see how their dollar/bond investments will be doing down the road, it was important to show a strong dollar. Besides, it was due for a bounce back at previous support of 78.3. Gold also was powered down by the banks loading up on short Comex paper from last week. They purchased a huge amount of shorts up through last Tuesday (7/21) and have only added to them since. They finally tipped the scales over and sent gold falling.
roadrunner
<< <i>you'd have fooled me that looks like a very well done plug. >>
+1
Seems right, was thinking that somebody with mucho stroke was covering shorts, at least maybe getting out of the ones they had and into another position. So figure a K for an oz with a $50-$80 movement one way or another almost weekly; if you could load up on 100,000 oz, or the paper to 100,000 oz and you could influence the market with your purchases and sales, you could sure do some good. It seems that we are mere fleas at the end of a dog's tail as we covet our few ozs. The sobering thing is that we are all riding the same train with the exception that we hold physical and they hold paper. Hummmm...it will be interesting to see how the role of physical v.s. paper plays out.
ho hum....
www.AlanBestBuys.com
www.VegasBestBuys.com
Just buying, just buying. Not selling!
It's called, "taking a position".
I knew it would happen.
<< <i>Gold really jumped about 30 minutes ago....up $21 at present. >>
sure did not take long to recover. it seems like the dollar is walking the dog called gold.