Gold Price Discussion

[kingjim]

h t t p://finance.ninemsn.com.au/newsbusiness/8777767/gold-set-for-biggest-annual-plunge-in-30-years

Well it's great news for me. For the few people on this forum who actually find enough gold to sell it's not so good, sorry. For the rest it is great news. There could be a glut of GPX's etc. hitting the market going cheap. There will be a lot less people bothering to look for the shiny stuff as the price drops. Access to leases etc. may get easier as their owners begin to lose interest. Illegal dredging and mining will decrease and the buggers that do it will go back to drug dealing and raping and pillaging (or at least a regular job )!!

For those of us who do it for the fun of it, to get away from the big smoke, to experience the places many will never see and for the camaraderie of like minded folk...This IS good news.

My opinion may be different had I found ''The hand of Goliath'' gigantic gold nugget down at Turon Gates over Xmas...fortunately my reward was a week of peace and quiet and about .5 grams. Happy New Year

 

[kingjim]

I couldn't post a link, so anyone trying to view article must remove the spaces between h t t p.

 

[HeadsUp]

i felt gold could be going down hard due to what appears to be a large number of people taking up the hobby lately.

stock markets , tulip markets , whatever commodity is attracting people always follows a trend of cycles of boom and bust.

there are small cycles and cycles within cycles but you could write about 2000 pages on the topic.

when you get a parabolic curve , the steepest part of the curve is the point where reversals can occur

generally when the biggest herds are running in one direction , the early bird contrarian that runs the other way is the one that makes money

but dont worry folks, i cant see it going below $ 386 and i will be buying hard and holding if it does

support zones are $386 , 458 , 730 , 955

upside target zones are $ 2400 and $ 4800

 

[loamer]

Aussie $ is falling - gold is in USD$. Irrelevant.

 

[loamer]

http://www.marketoracle.co.uk/Article42724.html

One can only hope. And as long as the Aussie $ keeps falling - this will be 'gold'. I'm sure there will be analysts who disagree.

 

[user 1769]

With the world economy improving, I can't say I'm anything but skeptical, the AU$ can only fall so much...

 

[thedigger]

Price of gold is manipulated by the Bullion banks and they are agents for the Federal Reserve in the US.They need to keep the price because they do not want the dollar measured against gold they need to keep the allusion that the dollar is strong.You can see this manipulation,just look back in April,when Goldman sachs declared that gold was going to drop and to sell gold,well several days later,some dropped at a quiet time in the night $500.00 million dollars of paper gold on to market which as we all know had a dramatic effect on the price,this also flushed out a lot people who were buying gold on margins and that forced them to sell also,this practice has been going on from time to time to keep the price from rising.But in the mean time China and other countries have been buying large amounts of this cheap gold.
This gold has been coming from the Comex and other storages.The refiners in Switzerland have reported lately that they have been finding it hard to buy gold.
A recent report on Bloomberg stated that you can go through the storages in England and now they are empty of gold bars
The game is nearly at a END.

Regards Frank

 

[shannon]

Price of gold is manipulated by the Bullion banks and they are agents for the Federal Reserve in the US.They need to keep the price because they do not want the dollar measured against gold they need to keep the allusion that the dollar is strong.You can see this manipulation,just look back in April,when Goldman sachs declared that gold was going to drop and to sell gold,well several days later,some dropped at a quiet time in the night $500.00 million dollars of paper gold on to market which as we all know had a dramatic effect on the price,this also flushed out a lot people who were buying gold on margins and that forced them to sell also,this practice has been going on from time to time to keep the price from rising.But in the mean time China and other countries have been buying large amounts of this cheap gold.
This gold has been coming from the Comex and other storages.The refiners in Switzerland have reported lately that they have been finding it hard to buy gold.
A recent report on Bloomberg stated that you can go through the storages in England and now they are empty of gold bars
The game is nearly at a END.

Regards Frank

i would love to see how much gold china has in the bank. would be astounding

 

[BumbleB]

I agree Digger!
They can only keep their foot on the throat of Gold for so long- the moment they loose grip it will be like a giant rubber-band letting go & the price will look to find its real market value, & that is going to be a sight to behold.
China is far from stupid, they are suring up their coming World dominance by buying the Gold now at these silly prices- they are the worlds largest buyer & producer of Gold- they will eventually own the lot.
It's quite amazing that the West is just sitting back & allowing this to unfold the way it is- do they have something up their sleeve? I can't see what it would possibly be. Maybe they know it's all over & they are doing what they can to hold on as long as possible, like a person hanging on a ledge- they wont let go until the hand gives way even though they can see the drop has their name all over it.
A very interesting read if you're interested- "$10,000 Gold" by Nick Barisheff. He breaks it all down really well & lays it all out in simple terms- whether it gets all the way to $10,000/oz, but somewhere in between would be nice.

 

[loamer]

These are 2013 analysts predictions and assessments. Forget about conspiracy theories, this is the way of the world - same as India - huge economies and consumer based-population.

 

[BumbleB]

Yep Loamer a great way to look at it.
My hat goes off to them (China) & I just shake my head at the West/US- what are they thinking????
We better all start learning Chinese, & fast! I've already started with my local takeaway menu.....LOL!

 

[BigSam]

hi guys, can't post a link yet but check out SMH dot com dot au
and go to "business" then "Markets"
gold prices are set to plummet!

 

[elrodeo]

With some experts predicting gold to plummet in 2014 and others saying it will rise dramatically (both depend on the manipulation of the market by the big boys) the one thing that can't be manipulated is Bitcoin. It's here to stay and well worth getting a piece of the action.
http://moneymorning.com/2013/12/20/bitcoins-five-big-advantages-gold/

 

[Pauly]

Ive heard forecast the gold price will fall as the world economy becomes stable. Gold has traditionally been the choice when economies are in turmoil as its perceived to be secure, safe. I think if I were to invest in gold I would be buying bullion not paper gold. From everything ive read gold is actually over sold meaning more paper gold shares are out there than actual gold.

 

[richo966]

yes if you cant hold it in your hand you don't own it

 

[BumbleB]

Ive heard forecast the gold price will fall as the world economy becomes stable. Gold has traditionally been the choice when economies are in turmoil as its perceived to be secure, safe. I think if I were to invest in gold I would be buying bullion not paper gold. From everything ive read gold is actually over sold meaning more paper gold shares are out there than actual gold.

Pauly, you are right on a couple of counts, but I think you are a little confused as to the reasons for all that; sorry this is going to be long-winded.

1. Gold is more appealing to big investors when economic times get hard, or unstable. The problem is the Markets are so manipulated & falsely heldup (or down) that it is extremely difficult for the average person to get a proper grip on what is really going on- this is exactly what 'they' want. Wealth is supposed to be for them only, not us. They need us to depend on them for survival, otherwise they become obsolete! This is nothing new- it's the way even Empire has ever been run- the Ancient Romans is a perfect example. We are supposed to be the 'mouse-in-the-wheel' spending alot of energy getting no where, while they use that energy from us to make themselves wealthy, & GREED is their main driving force, which is why enough is never enough for them!
2. Gold WILL drop, & possibly drop a fair way, but only for a short-term, just before its launches into the stratosphere! The key as I see it is not to worry about the short term up's & down's- buy in at a price you are comfortable with & just sit tight & keep the faith. Gold has always been a longterm investment thing; atleast 10ys+, maybe longer, maybe shorter. Don't stress about the short & medium term manipulations- focus on the 'end-game'. Don't try to guess when the peak will come, just know that it is coming & once you have purchased what you want, you can simply wait.
3. There is definitely far more 'paper-gold' than real Gold- possibly as much as 10-20 times more. International 'rules' say that every ounce of physical Gold held can be 'lent' in the form of paper-gold up to 9 times- but who's counting? No one ever checks that this rule is being adhered to, we all know Banks can't be trusted & ALWAYS over extend themselves so it is thought that up to 20 times is probably closer to the real mark- scary shit hey!? It is through the buying & selling of this 'toilet-paper Gold' that the Bullion Banks (on the instruction of the US Govt/Federal Reserve) that the Gold price is manipulated so much. This is the criminal nature of this manipulation- they are able to manipulate a physical/real commodity with worthless toilet paper. Currently the Gold & Silver markets are not real markets in the true sense- essentially the price is what they want or need it to be. This is why as the shit gets closer to the fan the Gold price will come under more of an attack by the criminals (US Fed', Bullion Banks & US Gov't) & this will probably see the price drop further. BUT........ once the US Gov't looses control of their Currency (via printing money), & the rest of the World gets to the point that they have had enough,or should I say, when China gets to their 'sweet-spot' & decide to turn the screws on the US- then you are going to see the Gold Market swim freely & there WILL be a massive re-adjustment in price upwards to where the Market dictates it should be (Supply & Demand driven). You will then see the US completely loose its World dominance, & Counties like China, Russia & Germany become the new World dominators (God help us). China WILL own possibly 75%+ of the total World Gold reserves- wealth beyond anyone's imagination! Why do you think they are buying up every bit of (real) Gold they can, & openly encouraging their Citizens (via TV ad's etc) to buy up what they can?? They may not have the best eye-sight, but they can see VERY clearly.......
BumbleB

 

[Heatho]

I think that any country buying huge stockpiles of gold now will be begging to sell it in 10 years time, that's when the price will boom again, the USA does not like losing and controls most of the worlds oil reserves, gold is really just for jewellery, oil and food keeps the world running. Not being a negative sad sack but I like to look at the big picture. Hell salt used to be traded kilo of salt for kilo in gold. Pretty to look at though.

Just my opinion.

 

[loamer]

China and India are big consumers for several reasons. National stock-pile of precious metals. Consumers (jewellery/safe-haven metal). Electronics industry, which consumes lots of gold - every computer, mobile 'phone etc. The rush for gold in China in the past few months was in-part assessed as consumers bringing forward their usual Chinese New year purchases early, due to the price. How many consumers in both countries? 2 billion plus. Makes our little market look quite pale.

 

[Heatho]

I agree Loamer, every point here is valid, still the worlds economics are so complicated we are not meant to understand every intricacy and really never could. Gold will always be valuable 100% agreed, but it has been terrible for anyone who bought at the top of the market and could not afford to hold it. Bit of a hot potato at the moment. But in the future a bargain to probably be had if the cash is there to buy at the right price.

Mate I bet 1 of you nuggets could supply gold for all my electronic needs for the rest of my life.

 

[BumbleB]

I think that any country buying huge stockpiles of gold now will be begging to sell it in 10 years time, that's when the price will boom again, the USA does not like losing and controls most of the worlds oil reserves, gold is really just for jewellery, oil and food keeps the world running. Not being a negative sad sack but I like to look at the big picture. Hell salt used to be traded kilo of salt for kilo in gold. Pretty to look at though.

Just my opinion.

You could be right Heatho. This is a great discussion & could go on literally forever. I will make a couple of rebuttals to your comments if I may.

1. Salt never has been & never will be real Currency- so apples with apples......... Gold always has been & always will be Currency, aswell as jewellery, increasing Industrial uses & trade for oil & other Commodities, as is currently occurring between Iran (the largest oil deposit in the World by a country mile) & China- China has already struck a deal with Iran; straight swap Gold for Oil- no US dollars! They have made similar agreements with Brazil (another increasingly large producer of oil) & Russia (also huge in Oil, but also natural gas). The noose is tightening by the day for the US on several fronts- their lame Currency, Oil supply, no Gold in their vaults, & the two budding Superpowers despise them.

2. I don't think the US is as strong as they make out with their Oil supplies- that's exactly why we have had the last 2 Gulf Wars & the Libyan Crisis. Why go to War if you have enough Oil for the future? Gaddafi was about to sign a similar agreement with China- Gold for Oil & the US couldn't let that happen, so low & behold he all of a sudden he was dethroned & executed. I think the US is in real strife with Oil supplies. The Saudi's are the US only friend in the Middle East & only because the US says they will protect them from the other Arab nation (Iran, Iraq, Syria & Egypt). Pretty flimsy position- like going 'all-in' on a pair of 2's!

3. No Regime like China, ever 'begs' to sell Gold- they just hang onto it, or lend it (20 times over), or trade it. Investors on the other hand (& mad prospectors) might beg to sell at certain times, but my opinion is, that will never happen in the World as it is from now on. But eternity is a long time so who's to say it wont happen in the future; way way way in the future.......

4. Too true, US doesn't like to loose- that is where this all starts to get very scary! What lengths will the US go to, to protect their own mistakes & their greed & their arrogance? A War with China & Russia? Deliberately collapsing the US dollar to create a World-wide Currency collapse, leading to hyper-inflation across the Globe & a Depression that would make 1930 look like a walk in the park? Either of those events would see Gold skyrocket. The US is the 'sorest looser' on the block, & I believe that they will not go down without atleast taking everyone else with them in some way; because once they go down, they are going to be kicked from pillar to post- & they know this, so they will not allow themselves to fall alone. From this point of view, I truly hope that the US do have an Ace up their sleeve, but I just don't think they do. We shouldn't be surprised really by this- NO Empire has EVER dominated forever- not the Greeks, not the Persians, not the Romans, not Germany, not England & the US will not either. Although I do shudder to think what the World will be like under Chinese & Russian dominance.

5. You're not being a 'sad-sack' mate. This is how great debates start- an exchange of ideas & points of view. Apart from being fun, it's also how we all learn & access the validity of our own ideals. Keep it up mate- & everyone else for that matter.

BumbleB