The Gold-Spot update guys have been slipping, so I will fill in!!!!!!
keets
Posts: 25,351 ✭✭✭✭✭
The spot is up, shows as $926.80 bid at Kitco. Looks to me like the RocketSled™ ride past $1k has started!!!!
Al H.
Al H.
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I knew it would happen.
Looks to me like the RocketSled™ ride past $1k has started!!!!
The clueless are always the last to know.
That big dip prior to the FED's meeting was the usual PPT plunge to help boost the governor's words. You see that just prior to when the President or Fed talks. What they can't control is the snap back that occurs (in this case gold jumped $30 right back to $910 following the weak words of Helo Ben). And the next day it was brought up to $930+. Seems pretty bullish to me. The FED and PPT tossed everything they could at gold the past few weeks and that's all they got. The FED is trying to factor in the next bank to go kaboom and how to procede with the bail out. I suspect there will be another JPM-like absorption.
A move to $950-$1000 is imminent. $1000 this year is a "sure shot."
$1200 next year is a "booster shot." You can trademark those too if you like.
roadrunner
I thought we were not supposed to discuss the PM market here, didn't bochi tell everyone to stop that months ago?!
roadrunner
<< <i>religion? >>
Gold only *seems* like a religion for some people.
I don't click on those type of posts, so I didn't read what CU posted.
<< <i>btw, if CU doesn't want us posting about or to threads of the nature mentioned in that thread they locked to the top of the forum the other day, why did they title the thread what they did?
I don't click on those type of posts, so I didn't read what CU posted. >>
It was about stopping the crap about politics, not gold. I certainly think gold is fair game on a coin forum, but the problem is that many times, people can't discuss their views on the gold market without political observation (as political considerations often drive one's opinion on the future of the gold market). And when that happens, the potential for a political-based flame war rises drastically.
<< <i>That pog information was posted. You just didn't happen to see it.
Looks to me like the RocketSled™ ride past $1k has started!!!!
The clueless are always the last to know.
That big dip prior to the FED's meeting was the usual PPT plunge to help boost the governor's words. You see that just prior to when the President or Fed talks. What they can't control is the snap back that occurs (in this case gold jumped $30 right back to $910 following the weak words of Helo Ben). And the next day it was brought up to $930+. Seems pretty bullish to me. The FED and PPT tossed everything they could at gold the past few weeks and that's all they got. The FED is trying to factor in the next bank to go kaboom and how to procede with the bail out. I suspect there will be another JPM-like absorption.
A move to $950-$1000 is imminent. $1000 this year is a "sure shot."
$1200 next year is a "booster shot." You can trademark those too if you like.
roadrunner >>
Okay, here's a naive, NON-POLITICAL question: do you really think the Fed and/or the President care what the price of gold is? Or were you just implying that their other efforts target gold as an unintentional casualty? Please explain.
further, i think every member here and the folks at PCGS know that. it's the intentional threads which delve into those two topics absent any real connection to "coin-talk" that are the offenders. i figure the primary reason why PCGS stickied that thread at the top is twofold: they realize that the election season is upon us with the Conventions coming, and they realize how anal-retentive we can sometimes be as a group!!
sweet revenge
will prevail
without fail
Nothing like a good John Prine tune to help start things off on a sunny, Sunday morning. attitude adjustment commencing...
...
for the newbies: keets' icon is John Prine, one of the best songwriters around
Absolutely they care. Greenspan was quoted in 1998 that the FOMC was prepared to lease gold as needed to control the pog and the strength of the US dollar. You can find that quote on numerous blogs and websites. Bush senior is a stakeholder in the inner-workings of Barrick gold AMB) the largest gold company in the world.
Why is the dollar strengthened and gold bashed just prior to the president or Fed/Treasury chiefs speaking publically? The consistency of this is uncanny. Even Volcker has been quoted as saying that he had a made a mistake in the 1970's by not supressing the price of gold. Greenspan and Bernanke did not follow his lead. Central banks have leased out thousands of tons of gold in the past 15 years for some reason. The BOE sold 50% of their gold in 2002 at the bottom of the market at the request of the US. Why did they do that? (cash in on the low price of gold?...lol)
I think most damning is the how the pog reacts in NY daily. Long term charts show that even with gold rising from 2001-date, that specific hours on the NY exchange show consistent dips in gold that are not explained by normal trends. Comparing NY to London and Japan shows this quite striking difference. Those other charts show gold above the zero trend line as it should for rising prices over many years, yet in NY the prices are negative in those specific trading hours. Those are PPT tracks. Much easier to move the billion dollar gold market than to move a trillion dollar currency market. They can stampede gold by selling with little ammo, that's not really possible with the dollar or oil. So they concentrate their play in the smallest sandbox that gives them the biggest effect.
Gold is the inverse of the US dollar. Manage the rise in gold and you manage the orderly fall in the US dollar. They care and they act accordingly. Gold would not be one of the only laggards in the commodities bull if not for that special caring. Read the gold thread from time to time. All of these items have been discussed at length with links provided. Read some GATA material as they have lots of material on the subject.
roadrunner
Hummmmmmm, yeah, saturate the target and see if we hit anything.
How'd we do...give me some body counts.
International Market opens in 6 hours.
but gold barely hit 930. does that tell you something?
if gold does rally to one thousand again, I think it will again be met by selling.
but if gold tops one thousand and HOLDS THERE for a couple of weeks, then the move up might continue.
www.AlanBestBuys.com
www.VegasBestBuys.com
Take the clean up squad, I've got to report to the Major in 10 minutes so get it done.
Roger, out.
<< <i>
Okay, here's a naive, NON-POLITICAL question: do you really think the Fed and/or the President care what the price of gold is? Or were you just implying that their other efforts target gold as an unintentional casualty? Please explain. >>
Yes.
The FED apparently targeted the gold price through much of the 1980's and '90's.
They still care but they know that it's wasteful and unproductive to try to hold the
price at current levels.
They'll be back.
mhammerman,
Very nice selection of gold.