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Gold’s near future

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  • Thu, Apr 16, 2009 - 09:55pm

    #231
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    Re: Gold’s near future

[quote=titanic]The most important thing to remember about Gold is that it doesn’t have a price…it prices itself.  Gold in dollars, Euro, Yen, Pound, Yuan, etc…means NOTHING!  Gold is Gold.  Nuf said.[/quote]

Very true, titanic. However, this reminds me of a question I’ve been meaning to put out there.

I understand how stock is priced for buy and sell. Are the gold and silver markets run essentially the same way? In other words, what is causing the price to move up or down during the day? Are there market makers like in the stock market?

  • Fri, Apr 17, 2009 - 01:51am

    #232
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    Re: Gold’s near future

[quote=titanic]The only reason to pay attention to the DOLLAR price of Gold is to use those worthless pieces of sht to be able to buy more as the paper price goes down.  .[/quote]

I don’t know why people think the dollar price of gold is irrelevant.  To the extent you have debts demonomiated in dollars the price is highly relevant.  To the extent you want to buy things with dollars the price is highly relevant.  Until we are actually using gold as a medium of exchange, the dollar price is highly relevant.

  • Fri, Apr 17, 2009 - 03:30am

    #233
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    Re: Gold’s near future

Sam,

Take another look at the chart and you’ll see that in many respects, today’s action was very similar to the last two sessions.

In each case, there was an upspike in price. It happened a little later each day – just before the NY open on the 14th, then immediately after the NY open yesterday and today.

Then there was a massive downspike all three days. It happened immediately after the upspike yesterday, but not until about 9:30 this morning. But in all 3 sessions, by 10am gold had been up a bit then radically down.

The only difference was that resistance was found the last two days, resulting in a bounce back up from the down-spike. Today that resistance wasn’t felt until much lower – around 875.

But the curious part of this 3-day phenomenon is that each day, something weird went down between the open and 10am.

BTW, you really need to look at the price action and volume together in order to make sense of this. When you see a big up or downspike in price accompanied by heavy volume that always means the price was moved by aggressive buying or selling. But occasionally you’ll see a big price move with no corresponding volume spike, and that tells you that the reason for the move was something other than supply-demand pressure on the price.

Erik

  • Fri, Apr 17, 2009 - 03:50am

    #234
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    Re: Gold’s near future

[quote=ErikTownsend]

Sam,

Take another look at the chart and you’ll see that in many respects, today’s action was very similar to the last two sessions.

In each case, there was an upspike in price. It happened a little later each day – just before the NY open on the 14th, then immediately after the NY open yesterday and today.

Then there was a massive downspike all three days. It happened immediately after the upspike yesterday, but not until about 9:30 this morning. But in all 3 sessions, by 10am gold had been up a bit then radically down.

The only difference was that resistance was found the last two days, resulting in a bounce back up from the down-spike. Today that resistance wasn’t felt until much lower – around 875.

But the curious part of this 3-day phenomenon is that each day, something weird went down between the open and 10am.

BTW, you really need to look at the price action and volume together in order to make sense of this. When you see a big up or downspike in price accompanied by heavy volume that always means the price was moved by aggressive buying or selling. But occasionally you’ll see a big price move with no corresponding volume spike, and that tells you that the reason for the move was something other than supply-demand pressure on the price.

Erik

[/quote]

Thanks for the advice, Erik. It does seem a bit peculiar lately. Since little guys like us have virtually no effect on the price, what causes these major moves? Is it similar to the stock market or is it an entirely different show?

Also, where do you find the volume? These Kitgo charts only show the price moves.

  • Fri, Apr 17, 2009 - 08:23am

    #235
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    Re: Gold’s near future

Sam,

There’s a massive manipulation in both PAPER markets that takes place at the start of the CONEX session in which mostly Goldman Sachs (and another player that slips my mind) puts either a massive amount of puts or calls on the line depending upon which direction tptb want the action to occur.  I would direct you to http://www.gata.org (hope that link worked) in which you can surf to your hearts content on the manipulation of the markets over the years by the US Gov’t and the Central Banks of the world.

 As for why I don’t think Gold in Dollar terms is relevant is because the only reason I use the dollar is to pay any debt that may occur or to buy my daily needs.  Other than that, I own Gold/Silver/Commodities.  The only reason I pay attention to the dollar price of Gold is for when I get paid and I have to see how much I’m going to get because of the ridiculous paper price that has been established by the bankster thiefs at the CONEX.  I either get more or less OZ for my worthless dollars.  I personally don’t care due to the fact that in MY MIND, that silver and gold are tangible and can’t be used to burn for heat….which I personally think will happen soon for the dollar and any other fiat currency.  A little extreme but I’m comfortable with it.

  • Fri, Apr 17, 2009 - 09:14am

    #236
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    Re: Gold’s near future

titanic,

FYI, the exchange where most gold futures contracts are traded is called the COMEX. I believe that CONEX is a railroad.

Erik

  • Fri, Apr 17, 2009 - 09:19am

    #237
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    Re: Gold’s near future

I use CONEX because it’s a CON…….Sort of like CONgressLaughing

  • Fri, Apr 17, 2009 - 04:07pm

    #238
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    Re: Gold’s near future

What does anyone here make of this latest information?  Are we seeing opportunity to buy around $600 again?  Or is it just market manipulation?

 http://www.kitco.com/ind/nadler/apr172009A.html

  • Fri, Apr 17, 2009 - 04:34pm

    #239
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    Re: Gold’s near future

Is there any way to know whether the IMF is causing some of these fluctuations?  The rumor is out there that they might want to drive the price down to protect fiat currencies.  At least I think that’s what the theory is.

  • Fri, Apr 17, 2009 - 06:01pm

    #240
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    Re: Gold’s near future

Guys, Guys, Guys. Every market is manipulated by tptb. PPT, Goldman Sucks, JP Meningitis, etc…. The IMF is just an offshoot of the NWO folks and has been manipulating the Gold price for years. Look at how many times in just the past 8 months they have hinted that they were going to sell some of their gold into the market. The price falls and they never move on selling. And yes, they’re doing it to make their worthless fiat currencies look good. It’s so painfully obvious that it used to anger me (actually it still does sometimes). But until there’s a “Change” in the gov’t from a Oligarchy to a Republic, the Money Masters will continue to play with us little people. How that change occurs is still up in the air.
Please don’t take this wrong as I’m not trying to be harsh but……wake up and smell the coffee. Nothing is real on Wall Street. Tptb can manipulate the prices so easily it’s not even funny. Once I came to the realization that NOTHING is REAL, it made it alot easier to stay away from the market.

Also, as for the IMF selling their Gold. China and India are screaming for them to sell. Why? So they can buy all of it up! With this, the CONEX price will skyrocket because the buy/sell is actual physical and not paper. For some reason that I actually don’t understand, when there’s a large PHYSICAL sale of G/S it counts for a larger increase in price on the CONEX than a PAPER sale. You’ll see this happen when large deliveries (physical) are made in London. The price goes up dramitically. If we wanted to price of gold to go up and we wanted to really get in the crawl space of tptb we should all be putting ops through the CONEX for physical delivery and TAKING delivery when the contract expired. If we all did this on our buys we’d bust the CONEX….God wouldn’t that be outstanding!~

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