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Originally posted by myster0
reply to post by silent thunder
I don't think there's much to say about a 1.5% increase in gold, other than "someone bought a bit of gold".
As for whom? Probably a government (China most likely).
Originally posted by litterbaux
Gold value is an inverse reaction to the value of the dollar. Every time it goes up, your purchasing power goes down. Spikes in value indicate inflation.
Leyman's terms... you get less gold per dollar every time the value of gold increases. Inflation.
Things will be a little more expensive. Gasoline will go up 10 cents by tuesday. Gasoline is an interesting topic, ten years ago if you said "gas is gonna be 3.79 a gallon" most people would say "hahaha!"
Someone has to pay for these wars and its you!
It's the ultimate catch 22. We go to war with oil bearing countries, they charge us more for the oil. A tax percentage on fuel is one thing... they wont raise the tax percentage... so what can you change? The price. They win, they win and they win again because we are paying for it!
Originally posted by silent thunder
A 1.5% increase in 45 minutes is unusual enough to be notable.
Originally posted by Master_007
Funney you should say 1.5% because thats about all i get on my fiat savings after a whole year by the time taxes are deducted.
25 July 2011
Gold Daily and Silver Weekly Charts
Gold and silver look particularly good in times of thuggery, deception, and the willful arbitrariness of the powerful to promote their own interests, the public be damned.
However, the markets are still clearly signalling that they believe that cooler heads will prevail, and there will be a fresh opportunity to game the market and steal from the many.
The US made a tragic mistake in not pursuing real reform earlier on, and speaking out for it forcefully when they had the momentum and opportunity. Co-opting the reform movement and turning it into a tool of the monied interests was a stroke of genius.
The best lack all conviction, while the worst are filled with passionate intensity.
Tomorrow is option expiration on the Comex. I hear that there are quite a few call options open around the 1600 strike. So we would expect the price of gold to get hammered down below 1600 sometime this week.
When options are in the money, they are converted into open futures contracts. So there may be a lot of new holders of futures contracts who get a stiff gut check on Wednesday through Friday, if it does not come tomorrow. - Full Text
Recalling Last Tuesday
Just a couple of things while we wait for The Wicked Witch...
1) Once again, The Cartel raided the metals in the U.S. overnight. This time, they extracted about $6 in the 5 minutes beginning around 3:25 EDT. This has been their recent pattern. Over the past two weeks, raids have been a frequent occurrence between 3:00am and 5:00am EDT. I do not have the charting capability to print a 15-minute or even an hourly chart that goes back the past 10 days. If anyone does, please post it in the comments below. I'm sure it would be telling. - Full Text
26 July 2011
Gold Daily and Silver Weekly Charts - La Douleur du Monde - Option Expiry Fizzle?
Although there were some efforts to push down price in the thin hours, the debt ceiling showdown has a bid under the metals, so most of the action was in capping the price to keep it manageable. So what next, declare victory and go home?
When Comex options expire, the holder receives an active long or short position in the contract the next day. And so we will have quite a few new futures contracts issued tomorrow given the number of 'in the money' calls.
When a person buys options, they are limiting potential downside. When you hold the futures contract however, the downside is no longer limited, so the holder often places a 'stop loss order.'
The Street crawlers can see those stops and their clustering and will often test that number and give the newbies a 'gut check' to see how serious they are. - More
28 July 2011
Gold Daily and Silver Weekly Charts - The Collapse of the US Dollar Against Silver
I suspect that the capping on gold and silver will continue into the month end tomorrow, and quite likely into some resolution of the debt ceiling discussions which will probably occur next week. They might not, and that will indeed be interesting. The Mad Hatter and his Merry Pranksters think that a 'little default' might be a good thing to make the country more malleable to their non-negotiable demands.
On a deal, the first impulse will be for stocks to rally sharply and the metals get beaten, in the usual 'risk on' trade. However, depending on the resolution of the debt ceiling, when people think of it after they have had their jollies in the first reaction, they may realize that absolutely nothing has really been fixed. The US financial system will still be corrupt and broken, and the politicians have openly stopped caring about the voting public and their opinions, in their desire to put on the corporate feedbag. - Full Text
Uptrending Channel Is Beginning To Steepen For Gold
August 2, 2011, at 11:10 am
Gold has been able to better the price cap near the $1625 level and is now in the process of attacking the $1650, the level which my good friend Jim Sinclair long predicted it would approach. Should it take out this level, it looks to be on a path to $1680 based on what I can from this newer channel. Downside support is initially at yesterday’s low of $1608 followed by $1600.
Aiding its upward progress in US Dollar terms is the fact that it has once again scored new all time highs priced in both the Euro and the British Pound. - Full Text & Charts