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Post by tendermyshares on Apr 5, 2012 10:11:42 GMT -5
The trendline may be broken by time rather than price, which wouldn't be too signficant. Double top or ascending triangle to break out over resistance, hard to say but either way should get an accelerated move when it happens. Gold is inherently bearish right now but has already sold off pretty well this week. Market makers may want some of their put option money back.  Uploaded with ImageShack.us |
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Post by jack on Apr 5, 2012 10:14:16 GMT -5
I think I just threw you an exalt a little while ago over the "double top" remark.  |
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Post by tendermyshares on Apr 5, 2012 10:26:28 GMT -5
Speaking of double tops, they just smushed it.  Uploaded with ImageShack.us |
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Post by tendermyshares on Apr 5, 2012 11:00:04 GMT -5
That chart worked pretty well. It's good to be able to look at a chart with a neutral bias and see the different possiblities of a break one way or the other, and to just be ready for them. Next support equates very closely to GLD 158. Would take an effort to blow by that with weekly opex today. If it does, fundies are more allergic to gold then they've been letting on, doing a controlled selloff. Gold floor trading closes at 1:30 every day, and the last half hour into the close is usually interesting. Gold keep trading electronically thereafter and can still have large moves.  Uploaded with ImageShack.us |
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Post by tendermyshares on Apr 5, 2012 11:38:14 GMT -5
Man overboard! I actually like this song and think Celinie Dion does a fantastic job on it.
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Post by tendermyshares on Apr 5, 2012 11:52:22 GMT -5
Options fakeout, as expected, at least for now.
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Post by tendermyshares on Apr 5, 2012 11:58:22 GMT -5
They are whacking gold around right now like a tetherball. Prevailing view is bear flag leading down to yellow line slanting downward at bottom of chart. Today? Hmm. Seems unlikely but I wouldn't be shocked.  Uploaded with ImageShack.us |
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Post by jack on Apr 5, 2012 12:50:32 GMT -5
They are whacking gold around right now like a tetherball. Prevailing view is bear flag leading down to yellow line slanting downward at bottom of chart. Today? Hmm. Seems unlikely but I wouldn't be shocked. Uploaded with ImageShack.us1596 just ain't good enough - try 1550 the 12/29th low |
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Post by tendermyshares on Apr 5, 2012 12:58:50 GMT -5
Ooooh now you are getting jiggity Jack!
My problem is, I don't want gold coins, I want gold bars. But yes, at half current prices. American ones.
Kilobar
The most common weight used for bars of gold is 1 kg, or 35.2 ounces. One kg gold bars usually are not seen in the brick form, but rather in a flatter bar form, resembling the shape of a chocolate bar. Investors and others seeking to accumulate wealth prefer this form of gold bar because its compact shape allows much wealth to be stored in a tight space.
Chinese Gold Bars
Chinese gold bars, or tael bars, are found in weights up to 12 ounces. These gold bars are found and traded predominantly in Singapore, Taiwan and other Chinese-speaking countries. Unlike European gold bars, tael bars have much different shapes than a rectangular bar. The most common shapes include a doughnut-like shape, with a hole in the middle of an otherwise circular bar, a boat-shaped bar and a biscuit-shaped bar.
Manufacturing of Gold Bars
Gold bars can be produced by two methods: casting and minting. A cast gold bar is made when melted gold is poured into a mold to achieve the desired shape and weight. A minted gold bar is made when the bar is cut from a larger sheet of gold to a size that depends on the desired weight. Every gold bar produced also bears the seal of its manufacturer, which is imprinted by a press.
Indian Gold Bars
The tola bar, or the Indian gold bar, normally weighs 3.75 oz. However, the tola gold bars are not manufactured in India, but in Europe. The name merely refers to the Indian unit of weight that the gold bars use. Smugglers like tola bars because unlike other forms of gold bars, tola bars do not bear any sort of serial number or stamp indicating its manufacturer. More conventional uses of tola bars include marriage necklaces in Pakistan.
Pakistani Gold Bars
The types of gold bars cast in Pakistan do not have a single standard weight. Rather than being made by large manufacturers, these bars of gold are cast by small backyard manufacturers. Even though its location of production seems rather hazy, the purity of the gold found in these bars is about 99.9 percent. The method of production of Pakistani gold bars, or tezabi bars, has remained the same since the 7th century B.C.
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Post by jack on Apr 5, 2012 13:07:29 GMT -5
You know A2L is the sole-source Fastopian gold dealer, right? He'll get you gold bricks if you want them (and can pay for them.) ....and GL on that half-price thing I don't see it, but then I can't even see the top letter on the eyechart.  |
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Post by tendermyshares on Apr 5, 2012 13:12:15 GMT -5
When they start raising interest rates..... You know A2L is the sole-source Fastopian gold dealer, right? He'll get you gold bricks if you want them (and can pay for them.) ....and GL on that half-price thing I don't see it. |
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Post by tendermyshares on Apr 5, 2012 13:14:16 GMT -5
What about the "soul" source?
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Post by tendermyshares on Apr 5, 2012 13:18:52 GMT -5
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Post by tendermyshares on Apr 5, 2012 13:45:06 GMT -5
Well I wouldn't want to call this a head and shoulders on a slow pre-holiday afternoon, but that trendline might be fun to watch.  Uploaded with ImageShack.us |
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Post by tendermyshares on Apr 6, 2012 10:29:53 GMT -5
Good article on the London gold move this morning after jobs data.
PRECIOUS-Gold edges up; dull US jobs data revives QE3 talk
Gold rises in thin trade but set for weekly loss
Thu, Apr 5 2012
Fri Apr 6, 2012 9:42am EDT
(Changes dateline)
* Spot gold up $10, 0.5 pct, after gloomy jobs data
* Dollar index, stock futures tumble
* Trading activity nearly nil due Easter holiday
* Bullion still set for 1.8 pct loss after Fed minutes (Recasts with jobs data, updates throughout)
By Jonathan Leff
NEW YORK, April 6 (Reuters) - Gold rose modestly in anaemic spot trade on Friday after disappointing U.S. payrolls figures revived talk about an extension of the Federal Reserve's stimulus measure, but gains were too mild to stem the first weekly loss in three weeks.
With only a handful of ticks registering in the cash market due to the U.S. and European exchange holidays, spot gold was bid at $1,637.99 an ounce by 8.54 am EST (1354 GMT), up about 0.5 percent on the day and around $7 higher than just before the U.S. non-farm payrolls data. For the week bullion was down 1.8 percent.
U.S. payrolls rose by just 120,000 jobs last month, lower than even the most pessimistic analyst had predicted and the smallest gain since October, the Labor Department said on Friday. The unemployment rate fell to a three-year low of 8.2 percent as the labour force shrank.
"This is going to turn up the heat on the debate for QE3 since a deceleration in the economic data has been highlighted as a pre-requisite for such a programme," said Thomas Simons, money market economist at Jefferies & Co in New York.
The S&P stock index futures fell more than 1 percent and the U.S. dollar index lost 0.3 percent as the data suggested gloomier economic conditions than expected, but with equity and money markets shut for the holiday the full extent of reaction will not be apparent until Monday.
With trading conditions so thin, it is unclear whether the data will be enough to dispel the downbeat mood that prevailed on Tuesday, when minutes from a U.S. Federal Reserve policy meeting showed a waning appetite for another round of bond purchases.
Bullion touched a near three-month low of $1,611.80 earlier this week, but has cautiously crept higher in the past two days on technical buying and, now, new hope that the door for further monetary policy support may be open wider than earlier believed.
Earlier in the week strength in the dollar had dimmed gold's safe-haven appeal as fears about the euro zone debt crisis resurfaced after a Spanish government debt auction this week was poorly received.
A stronger greenback makes dollar-priced commodities more expensive for buyers holding other currencies.
Spot silver was little changed after the data, holding gains of 0.2 percent at $31.72, extending a 1.1-percent rise in the previous session. The metal is on course for a weekly fall of 1.5 percent. (Additional reporting by Rujun Shen in Singapore; editing by Keiron Henderson)
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Post by novice08 on Apr 6, 2012 11:06:47 GMT -5
Don't think the QEs ever stopped, they just aren't announcing it thereby trying to hold up the CONFIDENCE in fiat.
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Post by maxi on Apr 6, 2012 11:40:05 GMT -5
This is very cool you can enter in other stocks too! |
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