buy gold

Looks shrewd after today, can't go lower than 900$, cannot it?

I love how its working at the moment :)

US data comes out awful, people buy US treasuries as "safety", which pushes up the dollar which reduces the price of gold.

Strange world!

It wont stay that way :)

The dollar index is up for the sixth day in a row so unless gold can decouple from the inverse relationship to the dollar the only is down for the next six months as the dollar appreciates.

Long term uptrend is NOT broken.

Besides, we have a inverse h-s formation with two support levels on 906 and 870.

Gold price today is 914.

As a conclusion, personally i think 906-910 is an excellent entry point for anyone who wants to invest on gold.

When the (huge) 1000 resistance is broken, SKY WILL BE THE LIMIT ;)

Time will tell.

manipulated market lol

attended a very interesting presentation today by a major economic think-tank

very convincing argument that what is occuring in the markets at the moment is an unmaintainable blip and the following will happen in the next 18 months in UK

1. Housing market falls by a further 30% from where we are now
2. Unemployment over 3.2m
3. FTSE falls to low 3000's
4. Banks still in major trouble
5. Gold goes to $1500

worrying times

dont see house prices falling a further 30%, average house price around £105,000.00?

Jim Hensen 09 Jul 15:10
Inverse to the dollar yes, but largely as a result of the coupling with oil which is now deflating. If it was purely inverse to the dollar it would be rising in £ terms which it is not. How low can oil go, before it decouples from that, is the question for me.

I thought a inverse H&S could only follow a long term downtrend to signal a change to the uptrend. As it is the pattern appears at the top of an uptrend. What if anything does that signal?
__________________________________________________________________________


-Inverse H-S pattern on the top of a trend is a very bullish pattern.
-If you check the GBP-USD chart you can see that it has broken through the floor of a rising trend channel with a huge resistance at 1.66, i cannot see GBP going higher at all. And, as I expekt gold to continue the uptrend against the dollar, so do I expekt it to do against the pound.
-Oil will soon reach the first resistance at 50 but i think we will see the mars lows of 34. I dont expekt the gold to follow the same trend of course.

(just my opinions)

regards

Inverse to the US dollar index, JH. GBP has a 11.9% weighting in the index so GBP against the USD and USDX can both appreciate. The chartists might be right with their funny patterns but I just see everything for the rest of the year as a dollar index story. I see the USDX appreciating to around 85, so unless gold decouples it will go down.

the first support (906) is being tested today

apologies Walter, I ought to be able to read properly by now ;-)

September is historically the best month for gold and as we experience the last days it just broke up through a big technical resistance at 980, the next days will show us if this is a fake break or not.
The thing is that the period of consolidation has come to an end.
So by the end of september, we could see either 1200 or 800, interesting days ahead :)


SKY IS THE LIMITTTTTTTTTTTTTTTTTTTTTTTTTT

-hold over 980 the next 2-3 days = confirmation of the break = buy signal.
-if it retreats below 980 the next 2-3 days = the break was fake = sell signal

does it make sense now?

im not a market expert but i am glad that most people think the markets are irrational

You are probably fishing but anyway, have a look at the 6-month gold chart.

http://www.kitco.com/charts/popup/au0182nyb.html

This is a triangle with higher bottoms and lower tops- a consolidation pattern.
As you see the triangle is broken upwards.

980 is the top of 27 maj-5 juni.
Historically lows-tops= future support-resistances.
Thus, 980 is-was a key level-resistance.

Don't be distracted by the equity markets, keep your eye on the currencies - gold broke out first against £ of all the majors.....buckle up!

1005!

i am bullish on gold for the future for many reasons but when it finally breaks the previous
highs over the 1000 barrier it will burst through with a massive rise,not the trickle we are
seeing currently.
the present market in gold,just like the stock market at present,is easily manipulated.
there will be a golden future but not just yet.

FWIW, Seems to me that gold is rising because the USA is pursuing a fiscal policy that depresses the dollar. It seems therefore that gold will continue to rise as long as such a policy is maintained. It would be ideal for the gold bugs to see a further rise before a fallback to a mark above $1000 before pushing upwards once more. The expectation would then be of a $1000 dollar floor price.
However if Bernanke and his crew changed their plan to: "do nothing," or introduce anything else that may hint of deflation the Gold price would drop pretty sharply.