Gold : Is it trending up?.

[lifeafter41]

Understand gold had a big increase in price yesterday to hit above USD1320.
Is the USD coming down or it's a hedge for coming inflation (or already here)?.

 

[Runifyouhaveto]

Understand gold had a big increase in price yesterday to hit above USD1320.
Is the USD coming down or it's a hedge for coming inflation (or already here)?.

USD did not go down in the last 24hrs but gold surged
This is what i read bro - unwinding because of missing metals in china warehouses

Gold Hits $1300, Silver Surges To 3-Month Highs As China Rehypothecation Ponzi Unwinds
http://www.zerohedge.com/news/2014-06-19/silver-surges-3-month-highs-china-ponzi-unwinds

If this theory is correct, Gold's big swings (up or down) will be inversely correlated to China's SSE.
Gold went up US$40 yesterday after SSE dropped 33pts (1.6%).

 

[krafty]

my views on gold are that because of the iraq crisis which i think is real(intially, i thought it was some poker game like in ukraine), pushed up the liquid gold(OIL), when oil goes up, gold also goes up. but once the crisis is over, you can see gold going down again. The selling of greenback for the past 2 days are also reasons why gold went up but minimal. if you look at the 1 day chart, it's still a downtrend. besides, did you all notice how gold price build up for the past 2 weeks, apparently, before the news broke, someone out there already know something is brewing in iraq. i always use gold price to judge how the world economy is doing, cos USD and RMB are very closely related to it.

feel free to addon if you think otherwise...

look at the downtrend channel of the 1 day chart, you will know why i say gold is still downtrending...

<img src="https://charts.mql5.com/5/20/xauusd-d1-oanda-division7.png" width="1157" height="467" alt="Chart XAUUSD, D1, 2014.06.20 06:04 UTC, OANDA DIVISION7, MetaTrader 4, Demo" title="Chart XAUUSD, D1, 2014.06.20 06:04 UTC, OANDA DIVISION7, MetaTrader 4, Demo">

 

[lifeafter41]

my views on gold are that because of the iraq crisis which i think is real(intially, i thought it was some poker game like in ukraine), pushed up the liquid gold(OIL), when oil goes up, gold also goes up. but once the crisis is over, you can see gold going down again. The selling of greenback for the past 2 days are also reasons why gold went up but minimal. if you look at the 1 day chart, it's still a downtrend. besides, did you all notice how gold price build up for the past 2 weeks, apparently, before the news broke, someone out there already know something is brewing in iraq. i always use gold price to judge how the world economy is doing, cos USD and RMB are very closely related to it.

feel free to addon if you think otherwise...

look at the downtrend channel of the 1 day chart, you will know why i say gold is still downtrending...

<img src="https://charts.mql5.com/5/20/xauusd-d1-oanda-division7.png" width="1157" height="467" alt="Chart XAUUSD, D1, 2014.06.20 06:04 UTC, OANDA DIVISION7, MetaTrader 4, Demo" title="Chart XAUUSD, D1, 2014.06.20 06:04 UTC, OANDA DIVISION7, MetaTrader 4, Demo">

I recall seeing in an earlier thread that you are shorting on gold. Not sure if it is a good idea though.

 

[Thick Face Black Heart]

Understand gold had a big increase in price yesterday to hit above USD1320.
Is the USD coming down or it's a hedge for coming inflation (or already here)?.

Gold looks quite likely to take out its march high. I think this bull has legs.

 

[Thick Face Black Heart]

Understand gold had a big increase in price yesterday to hit above USD1320.
Is the USD coming down or it's a hedge for coming inflation (or already here)?.

Don't think there's any specific reason. Maybe the damn thing just got so oversold.

 

[krafty]

if you notice, whenever, gold goes up, pple will start to sell and take profit, i doubt it will go up further...unless a war break out or there is another lehman crisis.

 

[babuSingh]

Made >10k yday after closing my long position bought at 1283. Better than wasting time on soccer gambling

 

[krafty]

good for you, i should have just follow the herd but i was too arrogant and i lost 2k...:(

 

[frenchbriefs]

gold is not going to go anywhere and it never will,once in a blue moon it will experience a huge bubble....only good price to buy gold would be around 400 to 600,even then it should only be a tiny part of ur portfolio as a hedge or something.

 

[lifeafter41]

Gold looks quite likely to take out its march high. I think this bull has legs.

Yes, that's my thought too.

 

[Runifyouhaveto]

Sounds like there is still upside in the near future

 

[sochi2014]

Cartel driving up prices.

Once they are expose. Gold will collapse. Stay away if you can.

 

[rushifa666]

after the manipulation gold is recovering. Stay away from the stock exchange. Commodities only

 

[krafty]

i hold differ view on gold price, unlikely, any mad rush unless there is economic downturn, war or epidemic affecting the stability.

dun be a gold rally sucker...:p

http://money.cnn.com/2014/06/20/investing/gold-prices/

Sounds like there is still upside in the near future

 

[Runifyouhaveto]

after the manipulation gold is recovering. Stay away from the stock exchange. Commodities only

manipulation in paper derivatives is good.
Sell paper = need to cover back
Sell physical = dont need to cover back

 

[Thick Face Black Heart]

Gold follows the larger commodity cycle. In 1970-1980, gold was in a bull market because other commodities were in a bull market. And because there was rampant inflation plus geopolitical turmoil in the middle east that led to spike in the oil price, gold entered a bubble and rose over 10 times in just 10 years.

Commodities entered a bull phase in 2001, which was also at the same time gold started its bull phase. But this time round, gold did not go parabolic because the world is plagued with disinflation rather than inflation. Now people are saying that the commodity supercycle is over. If they are correct, then the bull market in gold is also over and we will get at most temporary bounces.

 

[kulgai]

if you notice, whenever, gold goes up, pple will start to sell and take profit, i doubt it will go up further...unless a war break out or there is another lehman crisis.

I'm with you on this. I believe it's just a knee jerk reaction to the Iraq crisis. Barring unforeseen circumstances such as war, I see prices coming down in the short term. Longer term, gold should rally again.

 

[congo9]

Understand gold had a big increase in price yesterday to hit above USD1320.
Is the USD coming down or it's a hedge for coming inflation (or already here)?.

Is there a war coming ? Or else, no reason to believe

 

[krafty]

i know a lot of sinkies are holding gold and they are hoping that the price will go up but...i think i better keep my mouth shut...it's better to cut than hoping, this is also my greatest psychological enemy in trading.:o i may be wrong, btw, they found new strain of ebola in west africa and many were infected. so...i think...i dun know...

I'm with you on this. I believe it's just a knee jerk reaction to the Iraq crisis. Barring unforeseen circumstances such as war, I see prices coming down in the short term. Longer term, gold should rally again.