Gold gurus.....

Peaceman · July 24, 2006 12:44AM

What's the support for gold? I see it's almost an even $600 now.....

MrKelso · July 24, 2006 12:46AM

$590 to $600

RedTiger · July 24, 2006 12:50AM

It is tempting to buy right here, or at least nibble. However, $550 looks like a much safer support level to buy in. With interest rates edging up to 5%, I don't see any need to rush in, though I continue to watch gold and silver.

I am always interested in anyone who is changing their position (eg buying when they were out, or selling when they are in). The gold perma-bulls or perma-naysayers are generally not interesting or useful to me. Good luck to all.

FoundingFather · July 24, 2006 12:59AM

No one has any idea where gold will be in some given time frame. All it takes is one thing to change everything.

Peaceman · July 24, 2006 1:04AM

I guess I'm looking for the "technical" support level... like a 200 day moving average... cant seem to find one on line...

DeusExMachina · July 24, 2006 1:07AM

The 200 day moving average for gold is 585.07.

Check your PM.

RedTiger · July 24, 2006 2:35AM

This is GLD which closely tracks the spot price. Green line is 200 day simple moving average, red the 50 day.
chart link

A person can specify shorter or longer time periods at the link.

relayer · July 24, 2006 3:58AM

For September...

As a commodity $580

As a currency $640

As a measure of inflation $690

As a crisis metal $750

Take your pick.

LEAP269 · August 11, 2006 10:53AM

support still at 572

mhammerman · August 11, 2006 11:09AM

Yes, the water has been calm, maybe too calm for $74 oil and a significant number of international conflicts.

ScarsdaleCoin · August 11, 2006 12:03PM

I feel price will start breaking out in Sept/Oct.... gold near $700 end of the year!

pbfloyd · August 11, 2006 12:40PM

anyone asking $750 for a hobo nickel should not worry about the price of gold!

LEAP269 · August 31, 2006 3:19PM

support still at 572

Deb048gold · August 31, 2006 4:30PM

You definetly want to be as fully invested in gold and precious stocks
now until February 2007!!

roadrunner · August 31, 2006 9:05PM

Take a look at the Harry Schultz Gold Index on yesterday's
www.jsmineset.com link below. The 200 day moving average is rather slow to see shorter term trends. It clearly shows an ascending sequence of triangular higher lows. While not foolproof, it's a good bet that things look positive for gold in the near future.

roadrunner

Derek2100 · August 31, 2006 9:27PM

You want to have a significant of your numismatic portfolio in gold. Its the only thing you can get all the money for if you need to raise cash. Walk up to my table at a show and offer me gold coins, I will probably pay you at least melt of even full CDN bid (gold is like money). Walk up to my table with numismatic non gold coins to sell then we are talking 50 - 65 % of CDN bid. If you want more then I will tell you to go sell them somewhere else.

agentjim007 · August 31, 2006 9:36PM

Walk up to my table with numismatic non gold coins to sell then we are talking 50 - 65 % of CDN bid. If you want more then I will tell you to go sell them somewhere else.
You should just send them somewhere else before insulting with a 50-60% of CDN bid offer.

compromonedas · August 31, 2006 10:28PM

I feel price will start breaking out in Sept/Oct.... gold near $700 end of the year!

Derek2100 · August 31, 2006 10:30PM

stuff it up yer rear end 007 - turds like u have nothing to sell anyhow

mhammerman · August 31, 2006 10:45PM

Cool, we finally have someone offering melt for numismatic gold...yummy.

ABC123 · August 31, 2006 10:48PM

Probably low $500's

Newb · August 31, 2006 11:29PM

<< <i>Cool, we finally have someone offering melt for numismatic gold...yummy. >>

500Bay · September 1, 2006 5:07AM

<< <i> stuff it up yer rear end 007 - turds like u have nothing to sell anyhow >>

and people wonder why coin dealers have such bad reputations...

bestday · September 1, 2006 12:22PM

If you are a bull you don't want December gold closing under 614.00 . Trading range otherwise until December. Yes ,Gold is still going much higher

LEAP269 · September 21, 2006 4:48PM

gold support has moved to 542/oz

MrKelso · September 21, 2006 7:40PM

GOLD 09/22/2006 05:39 590.50 591.50 +7.90
+1.36%

MrKelso · September 22, 2006 1:44AM

RBC, 21.09.2006, Moscow 18:45:08.The Bank of Russia intends to increase the volume of gold metals in Russia's gold and foreign currency reserves, the Bank's First Deputy Chairman Alexei Ulyukayev told the State Duma budget committee today. The share of gold in the country's gold and foreign currency reserves is 3 percent at present. If the volume of gold metals increases, still its share will not raise, he noted.

The prices of gold and other precious metals have been rising lately but the market is correcting at present, Ulyukayev stressed. The gold price is now $550 per ounce, which is $80-90 lower than the record price. The metal prices are highly volatile at the moment, but the Central Bank has not imposed any limits on gold acquisition, he said.

Russia's gold reserves exceed 380 tonnes.

saintguru · September 22, 2006 1:50AM

You are looking at support right here....585-590.

Steve27 · September 22, 2006 1:54AM

LEAP269 resuscitates another dead thread.

MrKelso · September 22, 2006 10:15AM

Dubai's AMEInfo: Buy gold to hold, not to trade
Submitted by cpowell on Fri, 2006-09-22 02:17. Section: Daily Dispatches
From AMEInfo, Dubai
Thursday, September 21, 2006

http://www.ameinfo.com/96992.html

Dr. Marc Faber this week told Bloomberg he is a buyer of gold at and below $580 an ounce. But traders in gold have recently suffered a mauling because central banks are manipulating the market.

The Federal Reserve wants to contain inflation to engineer an interest rate cut before the November US elections. It is as plain as the nose on your face that gold market interventions of the past couple of weeks have been organized to bleed gold traders dry.

One thing that gold traders could do to help themselves is to stop publishing their latest market "insight" on Websites. The demons of the gold cartel are clearly reading everything that they write and making absolutely sure that it goes wrong.

Indeed, a section of the gold-bug community has identified the existence of a cartel or cartel-like organization within the central banking system that conspires to keep gold prices down when economic forces would suggest they should go up. This is one way of trying to control inflation, albeit it not a very good one, as curing the symptoms never cures a sickness.

However, there is no point in trying to fight such a powerful cartel. It is a futile exercise, and traders will be quickly wiped out if they insist on trying. Those who do this on margin are doubly foolish, as the irrepressible volatility of precious metals is going to catch them out sooner or later.

For to succeed in this kind of market you need to recognize the reality of a fixed gold market and buy and hold until this whole artificial construction comes tumbling down. Then gold and silver prices will soar and the holders will make a huge profit.

So buy a little gold for your portfolio, or quite a lot if you have the cash available. For gold will protect your finances against inflation, deflation, devaluation, stock market crashes, and almost any other negative economic scenario.

It always pays to be ready for a rainy day. Are we not now hearing many siren voices warning of a US housing downturn and a coming US recession, which will surely be accompanied by further devaluation of an already weak US dollar and a downturn in US financial markets?

What is the safe haven asset that will perform in such a noxious investment environment? Precious metals are pretty much immune from everything, except the central banks in the short term. So take Faber's advice and do what he is doing himself and buy gold at these price levels while you can.

Gold gurus.....

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