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Gold Technicals
This will be a comprehensive review of
gold technicals utilizing the SPDR Gold Trust (symbol: GLD).
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Technical analysis shows on November 3, 2009 that Bloomberg reported "
Nov. 3 (Bloomberg) -- Gold jumped to a record after India’s central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation that there may be more official purchases.
Gold futures for December delivery rose to a record $1,088.50 an ounce at about 2:22 p.m. in after-hours trading on the New York Mercantile Exchange’s Comex unit. Earlier, the most-active contract settled at $1,084.90, up $30.90, or 2.9 percent. It was the biggest gain since March 19.
“This will encourage other countries and other investors, especially Indians, who are big buyers anyway, to jump into the market,” said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois.
The Reserve Bank of India paid $6.7 billion for the bullion, which it bought from Oct. 19 to Oct. 30. "
So technically, "somebody really really big likes gold at, on or around 1080, so if you can't think for yourself, just follow the Bank of India and "be like Buffet". Technically speaking, its easy!
Being a small winner is better than a small or big loser>
Maybe somebody sold half their gold so that no matter what happens, they will make a profit.
i think the one thing we can agree on is how proud we are of our government, and our "regulators" when we see things go on like what happened in the metals markets today.
i know i for one believe this is no banana republic on this planet that has it over us! Nope, not any more. We are the best!
i think the one thing we can agree on is how proud we are of our government, and our "regulators" when we see things go on like what happened in the metals markets today.
i know i for one believe this is no banana republic on this planet that has it over us! Nope, not any more. We are the best!
Some simple trading advice.
Gold is drawing an inverse head and shoulders. This is the head....
Stop panicking.
i agree ...stop panicking....JPM needs something like 2.9 tons of gold to meet delivery demand and 900,000 oz of silver to meet...
and it seems they don't have it.
today, they tried to shake the tree.
too bad, they didn't get mine.
in fact, i bought more.....and requested delivery.
tant pis, JPM, tant pis.
I love watching gold bugs squirm. Soon this charade will be over, and you will have no outlet for your fear.
Yes, be bearish on compounding assets and bullish on non-productive ones. Interesting choice.
"Compounding assets"
Do you own a bank? If not, then you're just full of shit. There's no way you can make money and certainly not by "compounding" anything. Maybe you're thinking "compacting", as in compacting stash of worthless paper before it gets sent to the incinerator when the currency reform happens.
+1
its something more than marketeers fleecing the market. someone somewhere is short something or other and they need to pay up_markets have been manipulated since day 1, what's new about that? i bet china puts a floor in wherever they want to step up and keep the revolution at bay.
EU banks are selling gold to buy Euros
Given the recent 30% run-up of gold priced in Euros (now sold down to 17%), this isn't really surprising.
Another confirmation rat basards must keep the paper ponzi hoax going!! They're selling everything of real monetary stores of value to maintain the evil consequence of slavorading neoCONoplianism!! I have one thing to say to paper ponzi bozo goons! die!! Fall in to the financial pit you dug for others!! So it is written!! So it will be!!
There's a shortage of Med's isn't there, you sir need to move to the front of the line.
Say Gold and all the Zombies come out of the closet. Oh it's manipulated blah blah blah.......ad infinitum.
+1
they've been waiting for weimar to appear for years, hasn't happened.
in the meantime , they get screwed when they try to sell their useless metal.
silly zombies, gold is for jewelers, a tiney amount for electronics and that's about it.
That's what you stock pumping jockeys don't understand.
Nobody is selling their gold holdings for profit here.
Investors that understand how gold works are accumulating more.
The truth is, the end of paper denominated assets is around the corner so to speak.
The promise of any government on their paper is worthless when their accounting is no longer approved by the people they supposedly represent.
um, excuse me, but...i started buying at 400 four years ago. silver at 4 bucks an ounce.
so, talk about how silly this is....
how are your stocks doing for you? four bagger yet?
Who is selling? This is a buying opportunity.
Thank you, JPM!
Perfect timing for Jpig roques to come in and burn the rat bastard house of cards down in vaporizing flames of physical delivery exponential demands! As it was in the Hunt brother days of vigilantism rush to gold/silver; so will it be in the days of Jpigs demise!!! !! More and more taking delivery in gold & silver will break the backs of the PM cartel!! They cannot physically meet demand for delivery world wide and all cash payment at any amount; any time; may cease for PM's! Paper ponzi goonite structure crashes in natural consequence of false premise or lying rat bastards hoaxing monetary gain & power from mainstream innocent public; always! 100% guarantee the housing hoax of insanity gets vaporized; in an instant; suddenly; overnight!!!!! Out with the bad!! In with good!!
you know, they got us...tho...i mean, have you ever tried to explain what is going on to a congressman? I have. they have no clue, no understanding. and then, if you do get the congressman to go over and speak to the CTFC, the CTFC boyz just give them the razzle dazzle and send them on their way.
JPM seems to have this game rigged coming and going.
Thank god people are starting to take their physical away from the Comex. that's the only thing that's going to stop them. the government, where no brains function, isn't going to.....i think we can all see that.
in fact, after what we watched today, anyone who can't see it, well, i guess we could find an empty desk for you -- with 24/7 porno feed, at the CTFC. maybe right next to Bart.
I have a question for all that have followed gold (and silver) more closely than myself over the past 10 years...
there is a lot of talk on ZH (and other gold forum websites) about price manipulation by JPM and company on the price of gold and silver, has this been occurring over the past 10 year run up as well or is this a more recent phenomena?
Gold has been manipulated since 1934.
http://www.gold-eagle.com/editorials_00/tlaga121100.html
call it "Newton's law of universal gravitation"....
you mean "Newtons first Law of Manipulation"..?
what is manipulated down, must come up.. ;)
The title of this piece-of-crap should be: Paper Technicals
I suggest that the "author" learn something about the gold market.
if the guy knew something about the actual market, he'd realize how silly this paper is...
that said, i'm over this. I want to see people perp walked out of the Comex. i'm not kidding.....
this is what is destroying our markets, and by extension, the country. we've got regulatory agencies averting their eyes from what is blatant theft......
who can believe anything the government says or does when you watch them literally condone what goes on at the Comex? condone, hell, Ben is funding it....
you know and you lose all faith in all of them. this is a government that is now literally set up to steal every last dime the peasantry has, and then, walk off into the sunset leaving ruins behind them.
so.....now the Comex is closed. Anyone want to venture a guess as to how long it is before both gold and silver start drifting upward?
Or do we think JPM is going to spend the extra cash today and tonight to keep the global markets in line so the expiry stays right where they want it?
this entire thing now == been watching it for years -- makes me want to vomit. free, fair, transparent markets are no more in the US....
what goes on in gold and silver is comparable to any banana republic on this planet.
thanks Ben, thanks Tim, thanks CTFC...you guys should all be indicted for complicity.
so.....now the Comex is closed. Anyone want to venture a guess as to how long it is before both gold and silver start drifting upward?
Or do we think JPM is going to spend the extra cash today and tonight to keep the global markets in line so the expiry stays right where they want it?
this entire thing now == been watching it for years -- makes me want to vomit. free, fair, transparent markets are no more in the US....
what goes on in gold and silver is comparable to any banana republic on this planet.
thanks Ben, thanks Tim, thanks CTFC...you guys should all be indicted for complicity.
and i think we should talk a bit about the stocks....most -- due to the "containment policies" and the "keep the peasantry out" -- are now selling at the same levels they were at when gold was at 600, and silver was at 8.
charming, isn't it? how our government works? hand in glove allowing -- no, encouraging, a major bank to manipulate an exchange, destroy companies, and basically "keep the peasants" in line?
i'd think that half the companies in the sector would have ground for a very nice class action suit against the parties manipulating the Comex.
some breaking bad entity_ needs liquidity today_pronto!
oh, get over it crows. to pretend this is anything but a major operation by JPM is utterly ludicrous.
and i think -- since we the taxpayers -- are paying for this crap, we should start discussing the great unmentionable....
the national security aspect of these JPM gold and silver shorts.
oh, get over it crows. to pretend this is anything but a major operation by JPM is utterly ludicrous.
and i think -- since we the taxpayers -- are paying for this crap, we should start discussing the great unmentionable....
the national security aspect of these JPM gold and silver shorts.
Anyone else notice that Gold (1164) has broken the uptrend going back to late 08? Or that Oil (77.34) dropped 2$ to 77 in 2hrs to set up a potential reversal day on close below 78. Also, US$ has reversal day potential. Look at USD/CAD (10355), above 103.85 is a reversal. sorry for repost.
http://www.hardassetsinvestor.com/component/content/article/3/2246-gold-...
please, please, pretty please let me get an ounce for $780 or even $900 Dollars spot price.
It would be this deflationists wet dream. after all, this deflation is just a foreplay to enter hyperinflation where only real assets count. I still have way too many Dollars and all my cards are paid off too. Just waiting for this gold price "crash", please.
My truck is idling, ready to push back and load up!
What you have to remember is that some very wealthy people, and "entities" are waiting with the gun cocked and their finger on the trigger in case they see $1,150 again; if they do, the price will bounce so hard it'll make your vision blur. This is essentially a crash proof bull market where %80 of the buyers are serious; it's in strong hands, in other words.
Yeah, I know. But I said the same thing at $500, $600, and $700 gold.
I just bit my lip and bought anyway. Needless to say I'm glad I did.
dude, of course JPM broke the LT trend going back to 08, was there any doubt that this was going happen? come on....
they have free money from Ben. Of course, now it seems that they are getting held up for the cash over in the silver market, where they don't have the silver, and are paying a very hefty premium to have longs go away....
but...silver broke its trend too?
my question is, are they going to pay off the world and maintain the pretense? And how much is this going to cost the US taxpayer to dig them out of their ditch, as well as fund the manipulation?
I think maybe we could just use one less crooked megabank ... boot JPM from the club. Toss Jamie under the bus and move on.
I'm always happy to pay for other's corrupted mistakes. Nothing says democracy and capitalism like a bailout
All manipulations end badly for the manipulator. Gold is a buy into weakness, and even JPM knows it!
hole--not all, if all, then they would be extinct. end badly for ... - yep, Ned
oh, and does this study have anything relevant to add about what happens tomorrow afternoon? When JPM has expired all the calls worthless, and covered a bit more of its galactic-sized short.....
and takes the pressure off.....
so what do the technicals say will happen then?
the artificiality of the Comex metals market literally defy technical analysis.
Moreover, JPM knows we know that they know we know the levels....so they gun to just overshoot....
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=12738
This is the correct analysis of the COT report; it's a good buying opportunity right now, particulary in Silver. As for the little chart in the article, here; lay a ruler over the lows and draw a line then along the highs and draw another line; what you get is a forty five degree up-channel; which is a healthy and sustainable bull market; all the rest is bullshit. The bull market is 8 years old; there's no way in hell it's over.
do we say this entire study is completely a crock because today's "drop" was completely engineered by JPM?
so, this is going to be an excellent test. When you have a manipulated market, a blatantly manipulated market, do technicals have any meaning whatsoever?
after all the years this has gone on, no one has any idea of what gold is really worth any more.....
so, how can we pretend that it has support or resistance levels?
do we say this entire study is completely a crock because today's "drop" was completely engineered by JPM?
so, this is going to be an excellent test. When you have a manipulated market, a blatantly manipulated market, do technicals have any meaning whatsoever?
after all the years this has gone on, no one has any idea of what gold is really worth any more.....
so, how can we pretend that it has support or resistance levels?
Buying opportunity just on the horizon? We'll see.
Gold: Shootout At The 24K Corral
Gold is "precariously close" to a sell-off
http://www.hardassetsinvestor.com/component/content/article/3/2246-gold-...