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Re: July gold and silver trading thread
Thanks for the link. The charts (in multiple time frames) are LOADED with energy from this extended consolidation. While it could go either direction, there's a lot more compelling argument for upside than downside. Additionally, the max downside (as I see it) of approx $880 is smaller in comparison to the upside, which I… -
Re: July gold and silver trading thread
What would cause the mania to end? The realization that fiat money is a-ok? The mania just might not end, but only change its form. After a grossly failed 38 year fiat experiment the BRICs of the world are not going to settle for a new round of fiat going forward with a redesigned pure-fiat US reserve currency. Gold may be… -
Re: July gold and silver trading thread
I might consider nibbling next week as well, but they would be very small nibbles. Unwinding of the reflation trade took a breather today from the previous trend of strong Yen, strong bonds. Note how the dollar has started falling apart again now that the bond auctions are essentially over...funny how that works. The… -
Re: July gold and silver trading thread
COT results were mildly shocking in that the commercials were not adding to their gold shorts for the past week, but rather buying longs and selling some shorts. Both gold and silver futures Open Interest fell from last week with gold losing about 4600 contracts. The Short to Long ratio fell slightly to 3.21 from last… -
Re: July gold and silver trading thread
<< Wouldnt it have been a better sign if gold had actually matched oil's 100% gain off the lows? >> That would have been fantastic, but unrealistic. Oil had just experienced a precipitous drop after a parabolic run, and gold is still in the (early stages of) parabolic up-phase...well put. The oil to gold ratio has actually… -
Re: July gold and silver trading thread
The masses want "free" everything and handouts/bailouts whenever they can get them. Because of this they don't see the insanity to the fiat money system, money multiplier, and general corruption. Life goes on....for now. But at some point in time the people won't be getting freebies or the level of service they have been… -
Re: July gold and silver trading thread
I can't see why the Chinese even mentioned buying gold, unless it was specifically aimed at getting to be 1st in line for the IMF's 403 tons. Because this gold is already off the market, this would actually serve TPTB to let the Chinese get their gold from banks rather than via trading markets or miners. One would have… -
Re: July gold and silver trading thread
Cohodk made a call of a $50 drop coming when gold closed at $940 on 6/26 (after peaking at $948) earlier that same day. So far we've seen $35 which is good enough for the trend. The $5 came in when gold was walking the lower multi-month trend line from last November. A $5 push from that lower level was Cohodk's cue that… -
Re: July gold and silver trading thread
I'd say whatever positive trend remained has been smashed for the time being. Bond prices are in control now and we just have to wait and see when the yields finally stop falling. It won't be tomorrow with a 30 yr bond auction up next. Plus tomorrow is day 2 of the G8, no dollar or treasury bashing allowed. As an aside,…
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