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GOLD is due for about a 30% +/- CORRECTION, let me convince you in this thread

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posted on Jan, 14 2010 @ 06:58 PM
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Gold rises as traders add positions after CFTC

The chairman of the Commodity Futures Trading Commission said that the agency's planned meeting in early March to discuss possible position limits on metal futures and options contracts will focus on gold and silver contracts.

Full Text




The heading is misleading. For the 3rd consecutive day , Gold was blatantly manipulated-down into today's treasury offerings , then like clockwork , recovered precisely at 1100 when the 3mo/6mo T bill auctions were completed. The CFTC hearing didn't even commence until 1300 , along with the completion of the 30yr bond auction (second leg-up).

More on topic , if chairman Bart Chilton and the CFTC commissioners are as serious about imposing PM position limits as they sounded in today's hearing...the bullion banks have less than 2 months to begin covering oversize short positions. Bullish with a capital B


If you missed the hearing but want to listen...the webcast archive should be available here at some point.




posted on Jan, 22 2010 @ 08:27 PM
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Looks like it is the game of back and forth with the 50 ema like i was thinking. IMO this will last for a while with a range of 75-150 for a while with a final surge coming somewhere in the next couple months to the downside. Thinking this is more and more probable all the time.



posted on Jan, 22 2010 @ 08:52 PM
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Originally posted by Xeven

Was housing then stocks now gold. Looks like to me the cheese is about to move again.



I agree. If I were worried about the dollar and had cash and was looking for a safer bet, I would buy nice arable land.

Its cheap right now, and if all else fails you can live on it and grow your own food.


Gold is a trick at this point. By the time you see the hype on TV about buying something, the bubble is getting ready to burst, and the wealthy will be on to the next thing with your money to help finance the next scam.



posted on Feb, 5 2010 @ 05:50 PM
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Still waiting to get in at sub $1000..

IMO we now have a definitive flag pattern emerging that will most likely break down and whipsaw beneath the lower support. Still refuse to nibble before the green line.

Closing on a whipsaw candle underneath the 20 EMA = more selling pressure IMO.

Get in where you fit in.





posted on Feb, 21 2010 @ 03:47 PM
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Maybe bullish breakout for gold?

Looks like a battleground here.

**Picture too big to embed

Here



posted on Feb, 21 2010 @ 05:52 PM
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Originally posted by GreenBicMan
Maybe bullish breakout for gold?

Looks like a battleground here.


Relatively safe call with Gold showing obvious upside momo last week (already up 7.80 in the spot market in spite of a green USD). We'll see when the commercials launch their attack...1100 being pivotal heading into Tues OPex.

You neglected to comment on you're previous post:


Originally posted by GreenBicMan
Still waiting to get in at sub $1000..

IMO we now have a definitive flag pattern emerging that will most likely break down and whipsaw beneath the lower support. Still refuse to nibble before the green line.

Closing on a whipsaw candle underneath the 20 EMA = more selling pressure IMO.


The following day Gold broke to the upside...and hasn't looked back.

Jus ruminat'n.



posted on Feb, 21 2010 @ 06:56 PM
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reply to post by OBE1
 


I know, this is the breaking point for this flag pattern (assuming it stays in this).

I still hold my ground of course, if it goes one tick above where I first posted the OP it will be invalid and I will be incorrect.



posted on Mar, 18 2010 @ 12:11 PM
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I am going to bring my stop way back down. After looking some more at gold I become more bullish. That is of course if this does indeed come to fruition.

I am pretty much thinking a few solid higher closes over the 1144 mark will trigger the next upside. I do think though if this ascending triangle breaks down we are headed for the bottom check mark.

This again for some reason will most likely not display right so here is LINK






posted on Mar, 18 2010 @ 12:28 PM
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Report from a coin shop in Chicago

The two largest holders of US Treasuries, China and Japan are now both divesting themselves of Treasury Bonds...China also holds... 1.3? is it TRILLION in us $$...
The Chinese Government is doing a publicity blitz telling its citizens to buy gold and silver now.. The local coin shop here confirmed to this writer yesterday, that people of chinese decent ARE coming in every day and buying physical gold and silver.

Population of China
1,325,639,982








[edit on 18-3-2010 by seataka]



posted on Apr, 12 2010 @ 10:04 AM
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Originally posted by GreenBicMan
I am going to bring my stop way back down. After looking some more at gold I become more bullish. That is of course if this does indeed come to fruition.

I am pretty much thinking a few solid higher closes over the 1144 mark will trigger the next upside. I do think though if this ascending triangle breaks down we are headed for the bottom check mark.

This again for some reason will most likely not display right so here is LINK







Its over 1144 convincingly.

I am waving the white flag, not even a break below $1000/ oz. Must have been manipulation, only reason why this went up! haha.. jk but if you can't beat them, join them and I'm in for .1 lot



posted on Apr, 12 2010 @ 02:12 PM
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reply to post by seataka
 


Good points. You can add that several other countries, UAE, Germany asking for delivery of their gold. Gold-plated tungsten has been found as well, indicating that somebody's running low on gold. Russia and China have figured out that gold is the way to fight the West.

Also, we have very persuasive evidence from Andrew Maguire confirming the gold manipulation conspiracy theories.

So, yes, the elites are going to move the cheese and defraud the naive outsiders but they can only keep it going for so long before the gold default comes. The price of gold that we see quoted is the paper price. If you want physical gold, you'll have to pay a premium.

Look at the backwardation in gold and silver for signs of a coming default. When gold for delivery today costs more than gold for delivery next month and this condition persists for a long time, it's a sign that investors don't trust the gold to be really there and available for delivery next month.

The other side of the story is the dollar. Obama's going to spend trillions of dollars over the coming year. Where's that money going to come from? China and Japan aren't buying t-bonds any more and Europe's broke so it can't either. That means using the printing press and stoking inflation, which is already running at 10% according to shadowstats.com. All this is bullish for gold.



posted on Apr, 12 2010 @ 02:43 PM
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How much does the counterfeit gold bars effect the market? Do they just ignore it or do they correct for that kind of thing as well?



posted on Apr, 12 2010 @ 03:21 PM
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reply to post by patmac
 


If the general participants in the marketplace thought the GC contract was based on falsities it would probably plummet. *IMO* these must be very very small percentage instances and not enough to invalidate the integrity of gold.

So what I am saying is the market thinks this is nonsense it looks like. Just like the .gov is taking over your retirement accounts etc.. all garbage. I still haven't seen anything concrete that would convince me all this talk about manipulation at the highest levels/fake gold everywhere

a) real

or

b) nothing that would damage speculators interest because it involves such a small percentage of total volume



posted on Apr, 12 2010 @ 03:44 PM
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reply to post by GreenBicMan
 


Andrew Maguire seemed pretty persuasive to me on the subject of manipulation.

Fake gold would probably make the paper price go down since the paper price is based on trading parts of large bars that are perfect for filling with tungsten. It's a pain in the ass to check if a bar has tungsten in it, you have to drill into it or cut it open. 1 oz coins should be safer because they're thin enough that it's much more difficult to stick a lump of tungsten in there. Premiums on coins would probably increase for that reason.

News about the manipulation is spreading, with China paying attention according to some observers:
www.investingcontrarian.com...



posted on Apr, 12 2010 @ 03:55 PM
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Will be referencing this discussion on this thread here:
Gold Rush 21 (Documentary)

I think the gold issue might be the biggest piece of news in years. If an international cabal has indeed removed much of the actual gold in physical reserves to suppress the price of gold, then we are in for a wild ride.

It seems like GATA and other insider whistleblowers are really starting to blow those whistles, as can be seen in that thread.

At this point, a run on the banks seems almost futile, though.




posted on Apr, 12 2010 @ 03:55 PM
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Originally posted by monetaryprotest
reply to post by GreenBicMan
 


Andrew Maguire seemed pretty persuasive to me on the subject of manipulation.

Fake gold would probably make the paper price go down since the paper price is based on trading parts of large bars that are perfect for filling with tungsten. It's a pain in the ass to check if a bar has tungsten in it, you have to drill into it or cut it open. 1 oz coins should be safer because they're thin enough that it's much more difficult to stick a lump of tungsten in there. Premiums on coins would probably increase for that reason.

News about the manipulation is spreading, with China paying attention according to some observers:
www.investingcontrarian.com...


Yeah, but other than a lot of talk and hearsay what is his proof? That silver went down after a non farm payrolls data release? LOL big f'in deal. Liquidity is totally drained during these events and 99/100 times you see weird spikes because of pulled liquidity.

I haven't read one thing that would make me believe what he is saying. Do I think big money gets together and "does things". Hell yeah I do, it's what a real syndicate is all about. There are far better examples than this in equities everyday. It's about having a lot of money, visibility of liquidity levels, and careful mathematical calculations.

You may call that "manipulation", but in reality what it is called is genius. This isn't something that power players just think of 15 minutes before they do it, it is carefully planned and executed. This game is played everyday from 930am-4:00pm EST. Not a big deal really.

All I am saying is if you want someone to really pay attention to this it better be a hell of a lot better than "I told you silver was going to drop during NFP data". That is total garbage because of what I just explained.



posted on Apr, 12 2010 @ 03:56 PM
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And then there's this:

www.zerohedge.com...


Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says "What shocked me was how little gold and silver they actually had." Lenny describes exactly how much (or little as the case may be) silver was available - roughly 60,000 ounces. As for gold - 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: "The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."

Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.

It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.


www.kingworldnews.com...

I'm not sure how reliable the source is, but in view of all the other irregularities in the gold market, this doesn't seem too unlikely.

In any case, I'd be careful about making sure the stuff I'm buying was actually physically in my hands when I bought it.



posted on Apr, 12 2010 @ 03:57 PM
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reply to post by beebs
 


It would have already.

Don't you think the biggest speculators on the planet know all REAL INFORMATION far, far, far ahead of you? You would be kidding yourself if some "blog" could ever know pertinent information that was actually valid before the "people that mattered".



posted on Apr, 12 2010 @ 03:58 PM
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reply to post by apacheman
 


Again, hearsay.

It's all talk and it's about you clicking on hyperlinks. This has been played out quite a bit lately.



posted on Apr, 12 2010 @ 04:05 PM
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Also, for all of you that are worried about this

" Well once everyone takes physical delivery.. then we will see".

Again, spoken from someone that knows nothing of what they talk about.

When you go into the GC Contract one full lot = 100 oz. of gold.

At roughly 1100 x 100 = $110,000/contract.

Now since speculators make up the majority of the volume how can you even think that this will take place? The easy answer is it won't, most of you are being fed this so you continue to keep clicking on those hyperlinks. They just "change the tone" of information into something totally not what it is and then *poof* there is 100 people talking about it on this board like they have been taking delivery in commodities for most of their adult life.






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