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Gold in 2011
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Gold in 2011

  #81 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Good to go.

April 01, 2011

Gold held its trendline on Friday. It looks good to buy with a target of 1480.
Stop 1399.

June gold chart of 01 April, 2011

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  #82 (permalink)
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aquarian1 View Post
April 01, 2011

Gold held its trendline on Friday. It looks good to buy with a target of 1480.
Stop 1399.

June gold chart of 01 April, 2011

Aquarian, I would differ from your views. QE2 is coming to an end in June. Even if we are going to have QE3, the Fed is unlikely to start it straight after the end of QE2. Certain Fed members are turning hawkish. There is also a need to support the DAX at the 75 level. If the support is broken, USD will free fall.

Looking at all these, I believe the price of gold will be capped for the near future. Unless some events trigger the breaking of the support for DAX at 75, then gold will explode upward.

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  #83 (permalink)
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GC Jun contracts touches 1458 yesterday. Aquarian you might be right! wow

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  #84 (permalink)
The fun is in the numbers
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Hi

Quoting 
Right, wrong,
that's not my song,
If ...then
and sometimes
when.


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  #85 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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aquarian1 View Post
April 01, 2011

Gold held its trendline on Friday. It looks good to buy with a target of 1480.
Stop 1399.

June gold chart of 01 April, 2011

barcharts:
"Global stocks are mixed with the European Euro Stoxx 50 index up +0.50% and June S&Ps up +8.90 points. The dollar index slipped to a 1-1/2 week low while precious metals soared, as silver posted a 31-year high and gold climbed to a record. Expectations for an ECB rate hike at tomorrow's monetary policy meeting has boosted the euro to a 14-1/2 month high against the dollar, while the outlook for further emergency stimulus from the BOJ has pushed the yen to a 6-1/4 month low against the dollar. The expected tightening of ECB monetary policy has strengthened the euro's interest rate differentials with the 3-month Euribor rate, the rate at which European banks say they see each other lending in euros for 3 months, increasing for the fourteenth consecutive day as it rose +0.7 bp to a 1-3/4 year high of 1.269%. European stocks received a boost after Feb German factory orders surged +2.4% m/m, nearly 5 times as much as forecast. Limiting stock gains however, was th e unexpected decline in Feb UK industrial production which slipped -1.2% m/m, weaker than expectations of a +0.4% m/m increase."

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  #86 (permalink)
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Tartimo View Post
I agree with you about the distastefulness of silver & gold bugs requiring pain to be caused to a lot of the world's population in order to profit from their bull positions. Trading is about extracting money from the market (i.e. other people's pockets) and that is fine with me because other participants have chosen to play the market game. However I feel bad when economic weakness/disorder causes pain to the general population and I think this is perhaps why politicians fight against the complete debt deflation which the Austrian school of economics calls for. It will just cause too much pain to too many people and politicians (aided by central bankers) will try to avoid a debt deflation in any way they can. That is why they choose ZIRP, QE1, QE2, etc. rather than an economic depression together with 25% unemployment.

I don't think gold and silver bugs' positions are necessarily distasteful.

An economic system that requires exponential debt growth to survive is pretty abhorrent to me.

ZIRP, QE1, QE2, etc. just kicks the can a little further down the road and solves nothing.

I hold physical silver as an insurance policy. If the economic system does collapse it will be because of the weak willed politicians and central bankers who refuse to face up to the problems; constantly taking the easy option in order to keep their bansker mates in the lifestyle they've become accustomed to.

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  #87 (permalink)
The fun is in the numbers
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Gold has met its target of 1480 with 1478 on 11 April

Gold has met the target

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  #88 (permalink)
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If you asked me 6 months ago, I would have said "There's NO WAY gold is going to reach $1,500." And look what happened!

Looking at the current situation, I have a gut feeling its going to reach $1,600 in about 3 weeks.

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  #89 (permalink)
The fun is in the numbers
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Gold has broken 1500.

April 20, 2011

Gold has broken 1500.
Next target 1518 and then 1550


Stop below trendline.
http://farm6.static.flickr.com/5185/5638230558_67902fe77f_b.jpg

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  #90 (permalink)
The fun is in the numbers
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Target of 1518 achieved



aquarian1 View Post
April 20, 2011

Gold has broken 1500.
Next target 1518 and then 1550


Stop below trendline.
http://farm6.static.flickr.com/5185/5638230558_67902fe77f_b.jpg

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