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 Replies: 40 / Views: 6,119 |
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Pillar of the Community
 United States
586 Posts |
1200 indeed is a major resistance.
I believe the short-squeezing on gold is OVER.
See you @1,100
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Pillar of the Community
United States
586 Posts |
well, looks like this path is back into play; after a short-lived counter-trend rally.
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Pillar of the Community
United States
1476 Posts |
To what level do you think the Greek situation will move the market if at all?
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Pillar of the Community
United States
586 Posts |
@Dar,
Weekly gold futures report is telling us, that Commercials are having difficulty adding short contracts against gold, when spot was above 1,200. Speculators both large and small were trying to add short contracts, too.
A comfortable level for Commercials to add shorts, maybe 1180 to 1200 area. But then the smackdown target by Commercials might be much lower; below 1,100 for example. Greek situation won't move the market; it was priced in already.
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Pillar of the Community
United States
586 Posts |
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Pillar of the Community
United States
586 Posts |
It is almost certain that Russian Central Bank's massive gold purchase has irritated the nerves of Federal Reserve and Cartels.
BANKING CARTEL hits gold price very hard.
1180 and falling
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Pillar of the Community
Canada
2019 Posts |
nvm
Edited by Northerncoins
04/30/2015 11:31 am
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Pillar of the Community
United States
586 Posts |
Recently there was a big money outflow from Gold Miners Stock; and US dollar bounced up from its support (It has been running on top of this support line for nearly a year! i.e. very strong support indeed). Next Friday will see the NFP report; Fed will have to make the data look good to justify their planned rate increase. I am afraid gold might crash to around 1,140 after NFP; and silver might go below 15.
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Valued Member
United States
102 Posts |
In all seriousness though say it does drop crazy low how many people/companies are actually going to sell that low? If people like us by the thousands are after gold and silver at a low I feel like what would be sold will be eating up at a rediculous rate before most people have a chance to get buy any.
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Pillar of the Community
United States
586 Posts |
@R1W3D,
In fact, many producer/merchant/dealer hedged their inventories. e.g. if one has 100 oz gold inventory, then he shorts 1 gold futures contract (each contract is 100 oz). If gold price crashes, he can still sell physical at that low price; but compensated by the short position.
About retail investors/stackers, they don't buy that much though. It is institutions and banks which can really buy bulk sizes. So peeps like us is negligible in the market point of view, right now.
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Valued Member
United States
102 Posts |
I guess I see that point thanks. I use to buy gold eagles and credit suisse bars 2oz and lower but I stick to silver now. Sold all my gold when it hit that high not to long ago and the money from all that gold is how I've lived for a while and even moved to Cali. If it gets decent enough I'll buy more
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Pillar of the Community
United States
586 Posts |
Four months later, the target was reached yesterday night when Gold futures hit 1,070 briefly.
Didn't take that long, did it?
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Pillar of the Community
United States
606 Posts |
I disagree with the notion the U.S. Economy is getting worse. Some area remain very strong and unemployment ticking in the right direction. Leon, you mention buying ASE. Do you like are over America the beautiful in the long term. I have bet on America the beautiful because it seems like there are millions and millions of ASE minted each year. |
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Pillar of the Community
United States
586 Posts |
MontanaCMR, The reason I am trying to buy ASE, is very simple: I don't have it, not even one. LOL ATB has numismatic value I agree, but I prefer to have a little bit of everything; since you never know which kind would sell. |
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Pillar of the Community
 Canada
5404 Posts |
It is all about the greenback. Commodities ,gold ,silver, and foreign currencies ,with very few exceptions are going to keep getting hammered until the FED tells the world they will not raise interest rates. The perception globally is that the U.S. Is just in a much better place than the rest of the world. We are sure feeling it here in Canada . In less than thirty months we have can from par US dollar to an exchange rate of 1.30 CAD to the greenback. Just incredible.
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Replies: 40 / Views: 6,119 |
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Posted 04/20/2015 11:43 am
