Góld PLUNGES!!!! "I" TOLD YA SO!!!!!!

[Aman A.K.A. Ahamburger]

I don't know about anyone else, but seeing gold stuck down $4 all day was a bit odd to me. It could also be nothing. But I know one thing that is for sure, the gold bulls are leaving the building...

Dennis Gartman out of gold, proclaims ‘death of a bull’
www.theglobeandmail.com/report-on-business/top-business-stories/dennis-gartman-out-of-gold-proclaims-death-of-a-bull/article2269368/

[decoy409]

Hi ham, I revised that take above with a more recent one next door. It would be hard for me to imagine one such as Gartman packing it up as he knows way better than that.

Have a great day!

[rovo]

Gold appears to be heading down for the count. It couldn't break back above the 200 day SMA and looks to be rolling over again. Nothing moves straight up or straight down but, to me, it appears to be heading for $1500ish in the next week or so.

[Aman A.K.A. Ahamburger]

I think your right Rovo. Just think, if it's around $1500 at the end of the year, there has been, basically, 0 return this year on gold. That will not be good, it never is.

[neoh]

Dec 25, 2011 21:44:43 GMT -5 Aman A.K.A. Ahamburger said:

I think your right Rovo. Just think, if it's around $1500 at the end of the year, there has been, basically, 0 return this year on gold. That will not be good, it never is.

Looks like if that happens then it would still be up 6%-7% USD, if I'm reading the chart correctly.

finviz.com/futures_charts.ashx?t=GC&p=d1

[rovo]

The following article is the type of thing that could drive the price of gold upward if anything was to happen. Gold, the currency of fear, responds well to problems in the Middle East.

US Navy warns Iran: Hormuz disruption 'will not be tolerated'

5th Fleet responds after Iran says closing strait 'will be easier than drinking a glass of water'

The U.S. Navy's 5th fleet Wednesday warned Iran that any disruption of traffic flowing through the vital Strait of Hormuz oil route "will not be tolerated."

The warning came after Iran's navy chief Habibollah Sayyari told Iran's English language Press TV that "closing the Strait of Hormuz for Iran's armed forces is really easy ... or as Iranians say it will be easier than drinking a glass of water."

"But right now, we don't need to shut it as we have the Sea of Oman under control and we can control the transit," said Sayyari, who is leading 10 days of exercises in the Strait. His reference to control was unclear.

Remainder of article at .... www.msnbc.msn.com/id/45805706/ns/world_news-mideast_n_africa/

[usaone]

So far the market thinks Iran is bluffing.

Gold and Silver continue to get crushed!!

Great call by FTI!!

[usaone]

Silver at $26.00!!

I feel bad for the small investor who bought into the hype and purchased Silver at $50.

[neoh]

Dec 29, 2011 8:46:50 GMT -5 usaone said:

So far the market thinks Iran is bluffing.

Gold and Silver continue to get crushed!!

Great call by FTI!!

Well, uh, S&P 1350 or market up for the year wasn't great either. Well maybe the DJIA might be up a little for the year. There were other bad calls by FTI, but, sigh, he had the evidence erased.

I thought gold had topped out at around $1000.00 which is when FTI said it had topped out. In hindsight (20/20), it turned out to be a great entry point.

What will happen in 2012? That's always a fun question and it's interesting to hear all the comments and even throw your hat in the ring. Gets to be a drag though when excessive egos get in the way and it turns into a constant cat fight.

[usaone]

Neoh....we are talking about Gold and Silver on this thread. The S&P is another subject.

Nobody gets all the calls correct.

FTI has been better than anyone else on this board.

The called American collapse has been overstated to say the least.

[neoh]

Dec 29, 2011 10:17:52 GMT -5 usaone said:

Neoh....we are talking about Gold and Silver on this thread. The S&P is another subject.

Nobody gets all the calls correct.

FTI has been better than anyone else on this board.

The called American collapse has been overstated to say the least.

If you say so. All his posts are gone. Might be a case of selective memory. Human nature usually tends to remember what you want to remember. Kudos to you though. Your posts are still here. I admire that.

[usaone]

I had the dow at 14k+ and GDP at 4%.

Maybe 2012...........

[frankq]

Neo,

A little homework and an investor could be looking at 20% or more this year including dividends. Only a rube buys an index fund IMHO.

[Aman A.K.A. Ahamburger]

Your right neo, if you would have bought gold on before April 29th this year you would have had a gain. www.marketwatch.com/investing/future/gold/historical

Which leaves all those people that bought gold as a "hedge" over the summer at 1800+ in a tight spot right now. Unless you were watching MMXIII , Which is now saying no more reall support levels until around a $1000. The only question, IMO, is; did the miners hold enough to manipulate the supply so they can drive it to $1100?

I guess we will see..

[Aman A.K.A. Ahamburger]

You know, this whole thing reminds me of something one of the most brilliant minds I know said...

Dec 29, 2011 14:09:32 GMT -5 bimetalaupt said:

Dec 28, 2011 21:57:44 GMT -5 @franktheimpaler said:

Must be a plunge...no....some great correction?..."I" let you be the judge!

FRANK,
HOW ABOUT A LONG PAINFUL PROSTITUTION OF WEALTH...WITH NO VISIBLE SUPPORT
YES, GOLD HAS BROKEN THE SUPPORT LEVEL AND THE CENTRAL BANKS IN THE EU ARE SELLING LIKE NO WHERE FOR GOLD TO GO BY DOWN..Just a thought,BiMetalAuPt
GOLD..EFFECTIVE..........................AMOUNT.........................CERTAINTY
buy.......................................................1076.65156145968......84.8903637266%
support................................................1614.30141834............96.775280%
sell........................................................1913.96050296...........95.543393%

latest numbers from MMXIII-Beta2 2PM EST 12/29/2011
at that time gold Gold
Amount.................. 1,543.10
change....................... -21.00
percentage change.... -1.34%

[rovo]

In the short term I think we will see gold (GLD) make a run back up to the 200 Day SMA at around $158. I base this on the tensions with Iran. Any Middle East problems cause gold to rise in price.

The trend in gold is down. Events can reverse the trend for the short term but the longer term trend is still down.

[Aman A.K.A. Ahamburger]

Couldn't agree more Rovo. Hope for fear so that we can hit $2200 an ounce.. Gold Bugs say that investing in stocks is taking advantage of the common man..

I like how aside from lifeisgood, the only person on here who actually talks about buying physical silver, hates it as an actual investment class, and recommends people go LONG TERM on stocks...

I got one for ya wxyz. I lifted your idea. I bought my parents a couple of silver coins for xmas. A 100th anniversary CDN silver dollar(last one in Canada I think, sold out online. Last one in my city anyway.), and one that commemorated 100 yrs of Parks Canada.. ;D

[rovo]

The metals are looking strong tonight when India and the Middle East opened for trading. I wonder if the NY market will snuff out the mini rally.

[Aman A.K.A. Ahamburger]

It's going to be interesting Rovo, some new info has come to light on the dollar, and China and India are now expanding while Euro is not. It's not looking good for Europe that's for sure.

Jan 2, 2012 11:03:04 GMT -5 @wxyz said:

Really funny, that for all the talk on this board, the only two people that actually post that they have bought physical silver recently are myself and Ahamburger.

We are silver BULLS.

In case anyone is reading that is new. NO, WE DO NOT ACTUALLY ADVOCATE BUYING SILVER AS AN INVESTMENT.

Just had to make sure that I got the point across wxyz..

[Aman A.K.A. Ahamburger]

Right on investors, keep that price of gold up and the ponzi going, because DEMAND for PHYSICAL isn't looking good at these high prices. It's almost like there isn't that much money in the developing economies yet.

Indian Gold Imports Plunge in Fourth Quarter
www.hindustantimes.com/business-news/Markets/Indian-gold-imports-plunge-in-Q4-seen-down-in-Q1/Article1-790146.aspx

Gold imports by India, the world's top consumer, plunged 56% to 125 tonnes in the fourth quarter, cutting full-year imports by 8.4% as record high prices and high interest rates hit demand, the head of Bombay Bullion Association said.

India, whose appetite for gold dates back centuries, imported about 878 tonnes of gold in 2011, down from 958 tonnes in 2010, Bombay Bullion Association president Prithviraj Kothari said in an interview on Monday.

The World Gold Council said in November that for the fourth quarter it expected the world's second most populous country to buy more than the 281 tonnes it bought in the same period a year ago, taking total imports over 1,000 tonnes.

The October-December quarter covers the peak festival and wedding season, when Indians traditionally splurge on gold jewellery and investments. It is rare for gold demand in the last quarter to remain below third quarter consumption......

......."People were even selling gold in November. For them it was an investment," he added..

[Aman A.K.A. Ahamburger]

Oh ya, bought another silver coin for my dad's bday today. He just turned 59. Commemorates the heroes that have fought in the war. God Bless our Troops!

[Deleted]

Nice rebound today. Glad I buy in the dips ;D Sometimes it works!

[Aman A.K.A. Ahamburger]

Sweet! ;D I hope you are selling on the rips. MMXIII says 1635 is next resistance.

[decoy409]

So much for your so called resistance.

Gold & Silver Going Higher!

[Aman A.K.A. Ahamburger]

Enjoy your dividends and stock splits! Gold is a bubble, and everyone knows it. It just a matter of time before people aren't willing to pay $1600 an ounce for physical gold anymore. Personally I don't like investing in an asset class that relies on people buying jewelry.

[Aman A.K.A. Ahamburger]

IDK, MMXIII was pretty close, again.

[Aman A.K.A. Ahamburger]

No Greece deal and no major upswing in gold. If stocks go, so does gold...

[rovo]

From a charting perspective I would like to point out GLD. The 50 day SMA is above the 200 day SMA but is getting quite close to the 200 day SMA.

The "Death Cross" is the term for the 50 crossing below the 200 and it is extremely bearish. In the other direction it is referred to as the "Golden Cross" and is very bullish. All of the major indexes are on the positive side of the Golden Cross, bullish.

It hasn't occurred yet but the probability is getting higher for it to occur. The 50 day SMA is at $162 and the 200 day SMA is at $161. Very, very close to the cross.

Now I'm not a strict chartist because I don't believe the charts can predict the future. However, the charts indicate various formations of pricing actions and these formations happen repetitively. Also, a particular chart formation can, with good probability, be followed by another particular formation. In the case of the "Death Cross", the likelihood is for a rather severe price decline to follow.

[Aman A.K.A. Ahamburger]

That is a great point Rovo, and you have been right so far about the link. It makes sense when you think about it. IDK the exact number, however, I would imagine that the majority of gold investments are in paper, it's just a matter of time before gold isn't returning enough and when it hits the technical points you're talking about, the return chasers will flee gold, JMO of course.

[bimetalaupt]

Sept 23, 2011 13:19:22 GMT -5 usaone said:

It's congress and Europe. Not Obama in my opinion. He has been ready to compromise and get things done for a wile now.

Until the Republicans.. My party... Get there act together, we won't get much done.

is Obama not moving to the right-centra.. more like Nixon then FDR??? WAR, Military and alike???

It is also interesting to note that We have more Oil Sand then Canada but have not started mining it ..Yet??? SELL it to China.. They do not have a refining system to convert that much heavy heavy heavy oil to gasoline.. Like Pt crackers

Just a thought,
BiMetalAuPt