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  • #14,401
  • Aug 15, 2014 8:38am Aug 15, 2014 8:38am
Quoting Netgold777
{quote} I was reading something a while back that stated the production costs of gold are approximately $1000 an ounce. Also the other thing is there have been quite a few new discoveries of gold over the past few years, South America, Australia, China, Russia, Africa, etc etc Maybe this is having an effect on the gold price and there is just more of it about??? The way it is going at the moment, pretty soon they'll be giving it away with cornflakes Anyone any idea what or who caused the sudden dive which started before the US news came up???...



This is what happens when Gold prices drop off too much. Many smaller production plants go into care taker mode until prices come back.

http://www.focusminerals.com.au/news...ng-operations/
As the lights go by so too do the shadows move
  • #14,402
  • Aug 15, 2014 8:44am Aug 15, 2014 8:44am
Quoting Ck87
Gold likely to come back to 1292 this week. Will try to target that #
MMhmmm.

And we're going much much higher from here.
  • #14,403
  • Aug 15, 2014 8:44am Aug 15, 2014 8:44am
Quoting Netgold777
{quote} I was reading something a while back that stated the production costs of gold are approximately $1000 an ounce. Also the other thing is there have been quite a few new discoveries of gold over the past few years, South America, Australia, China, Russia, Africa, etc etc Maybe this is having an effect on the gold price and there is just more of it about??? The way it is going at the moment, pretty soon they'll be giving it away with cornflakes Anyone any idea what or who caused the sudden dive which started before the US news came up???...
I like the cornflakes charms approach
  • #14,404
  • Aug 15, 2014 8:51am Aug 15, 2014 8:51am
This move lower basically had to happen technically. I'm not really kidding about that either. It was puzzling me last night, how did gold not go to 1292.69 yet…. because I think there will be a big move higher but that was a a level of exhaustion that needed to be revisited… here we are. And US mkt technology near highs exhausted….

We're going to see fireworks from here ladies and gents.
  • #14,405
  • Aug 15, 2014 8:52am Aug 15, 2014 8:52am
Quoting anton.olff
Could this drop have something to do with so called improvement in geopolitical situation regarding Ukraine?
and iraq... maliki has cooled down too!

This news was out 4 hrs ago http://edition.cnn.com/2014/08/15/wo...sis/index.html

This news 40 mins ago http://www.zerohedge.com/news/2014-0...r-future-holds

I think somebody should update rasmussen about ukraine agreeing to let the russians convoys pass...? or is he referring to something else?

* So far this looks like a typical pump and dump!
  • #14,406
  • Aug 15, 2014 8:54am Aug 15, 2014 8:54am
Quoting Ck87
This move lower basically had to happen technically. I'm not really kidding about that either. It was puzzling me last night, how did gold not go to 1292.69 yet…. because I think there will be a big move higher but that was a a level of exhaustion that needed to be revisited… here we are. And US mkt technology near highs exhausted…. We're going to see fireworks from here ladies and gents.

Agreed...

http://static.safehaven.com/authors/ticker/21556_d.png

This kinda looks similar to the 1 hr chart...(just zoom out)
  • #14,407
  • Aug 15, 2014 8:56am Aug 15, 2014 8:56am
Quoting Ck87
This move lower basically had to happen technically. I'm not really kidding about that either. It was puzzling me last night, how did gold not go to 1292.69 yet…. because I think there will be a big move higher but that was a a level of exhaustion that needed to be revisited… here we are. And US mkt technology near highs exhausted…. We're going to see fireworks from here ladies and gents.

please explain Ck that which type of firework we are going to see>???
  • #14,408
  • Aug 15, 2014 8:57am Aug 15, 2014 8:57am
Quoting waleed.khan
{quote} and iraq... maliki has cooled down too! This news was out 4 hrs ago http://edition.cnn.com/2014/08/15/wo...sis/index.html This news 40 mins ago http://www.zerohedge.com/news/2014-0...r-future-holds I think somebody should update rasmussen about ukraine agreeing to let the russians convoys pass...? or is he referring to something else? * So far this looks like a typical pump and dump!

I am buying into the news. Just went long gold and shorted S&P500.
"The market can remain irrational longer than you can remain solvent"
  • #14,409
  • Aug 15, 2014 8:59am Aug 15, 2014 8:59am
Quoting qaiser4u007
{quote} please explain Ck that which type of firework we are going to see>???

We will go MUCH MUCH higher from here.. All I will say about that Don't think 1400 end of september is out of question…
  • #14,410
  • Aug 15, 2014 8:59am Aug 15, 2014 8:59am
Quoting lorix
{quote} Thx mate ill wait now and stand a side i wont risk a long trade if it back up ill start to short again ill keep it like that till 1040 (",)
I use fib analysis from highs at 1344 area to low at 1291 - a nice 61.8 retracement, price never tested that level again, my take profit according to my rules are 1259 20 providing the fib stays in play with a possible bounce in my zone of 1288 - 1282 - but that bounce from there did not change market , so fib stands for now 1271 - 1259 is the target zone
  • #14,411
  • Aug 15, 2014 9:00am Aug 15, 2014 9:00am
Quoting anton.olff
{quote} I am buying into the news. Just went long gold and shorted S&P500.
Done the same... Even though have to watch out for the 1290-93 level... if that breaks then I will be out!

Not sure about shorting S&P right now though...

GL!
  • #14,412
  • Aug 15, 2014 9:01am Aug 15, 2014 9:01am
Quoting Ck87
{quote} We will go MUCH MUCH higher from here.. All I will say about that Don't think 1400 end of september is out of question…
appriciated
  • #14,413
  • Aug 15, 2014 9:01am Aug 15, 2014 9:01am
Quoting waleed.khan
{quote} Done the same... Even though have to watch out for the 1290-93 level... if that breaks then I will be out! Not sure about shorting S&P right now though... GL!
Shorting US market here is a great play.
  • #14,414
  • Aug 15, 2014 9:03am Aug 15, 2014 9:03am
Quoting Ck87
{quote} Shorting US market here is a great play.
The impulse wave cycle is still not complete... Need to see 10 or 30 points more on the S&P; on the other hand we might be getting into wave 4 (sideway/consolidation) territory for a few days
  • #14,415
  • Aug 15, 2014 9:05am Aug 15, 2014 9:05am
Quoting waleed.khan
{quote} The impulse wave cycle is still not complete... Need to see 10 or 30 points more on the S&P; on the other hand we might be getting into wave 4 (sideway/consolidation) territory for a few days
No but we probably topped out and are going way lower for next few months.
  • #14,416
  • Aug 15, 2014 9:09am Aug 15, 2014 9:09am
Quoting Ck87
{quote} No but we probably topped out and are going way lower for next few months.

I don't know... On what basis are you saying that (as a counter to golds bullish movement)

or are you saying in based on being overbought on the oscillators?

I guess one could short It is close to a resistance area...
  • #14,417
  • Aug 15, 2014 9:10am Aug 15, 2014 9:10am
Quoting waleed.khan
{quote} I don't know... On what basis are you saying that (as a counter to golds bullish movement) or are you saying in based on being overbought on the oscillators? I guess one could short It is close to a resistance area...

You will seed…. Short US mkt Long Gold here is the best play there is right now, nothing comes close.
  • #14,418
  • Aug 15, 2014 9:14am Aug 15, 2014 9:14am
Quoting Ck87
{quote} You will seed…. Short US mkt Long Gold here is the best play there is right now, nothing comes close.

Hopefully! It would be ideal....

I really want gold to go up; and finally get out of this ranging zone!

I hope it clears this (this 1290-96) battle though...
  • #14,419
  • Aug 15, 2014 9:15am Aug 15, 2014 9:15am
Quoting waleed.khan
{quote} Hopefully! It would be ideal.... I really want gold to go up; and finally get out of this ranging zone! I hope it clears this (this 1290-96) battle though...
It will, don't you worry at all. By next week We will see 1308 again, you can put your life on that.
  • #14,420
  • Aug 15, 2014 9:21am Aug 15, 2014 9:21am
Quoting Ck87
{quote} We will go MUCH MUCH higher from here.. All I will say about that Don't think 1400 end of september is out of question…

everyone was saying that at 1312 level
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