The Netdania.com Spot Gold Chart

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The Netdania.com Spot Gold Chart

Postby mxsquid » 26 Aug 2008, 14:13

Looking like a V shape reversal coming into golds high season.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 02 Sep 2008, 21:07

Another large commodities hedge fund 20% owned by Lehman Brothers bites the dust. Liquidation after 38% losses YTD.
After falling oil/commodities prices caused the DJIA to go up 250 points, it ended in negative territory when the Ospraie Fund news broke.

http://www.reuters.com/article/innovati ... 8920080903

And gold did another slide today.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 03 Sep 2008, 20:19

Gold Investments Market Update ? UBS, World's Largest Gold Trader, Continues to Report Unprecedented International Demand

And yet gold and silver continue to sell off

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This demand - running at 5-10 times the average of 2007 levels, was not confined to India: note the similarly strong demand reported in the story about demand from Abu Dhabi. We do not, unfortunately, have such good statistics to illustrate non Indian demand. The liquidation seen from the Comex and OTC market was largely absorbed by this physical demand (jewellery and physical investment pieces). Physical demand continues as of Monday with a near-record day of Indian demand prompted by the dollar and crude induced sell-off of the gold price. Yet long liquidation has stopped ceased after a near-record volume of Comex liquidation over the past six weeks as we reported in our Metals' Daily. This combination of heavy long liquidation and stellar physical demand remains the main reasoning behind our strong call in gold (although supported also by a technical view on the dollar from our Technical Strategy colleagues)."

Reuters reports that gold sales in Abu Dhabi soared 300 percent in volume and almost 250 percent in value in August from a year earlier…"It was the best month the market has seen in almost 30 years and it compensated for any drops we have seen earlier this year," Abu Dhabi Gold and Jewellery Group Chairman Tushar Patni told Reuters.

And the demand in Turkey has also surged. Turkey's gold imports jumped by 70 percent in August to 47.2 tonnes, the highest monthly figure ever recorded, data from the Istanbul Gold Exchange (IAB) showed on Tuesday. Bullion imports to Turkey, one of the top three consumers of the metal, shot up compared to 10.7 tonnes in July.

Soaring inflation internationally and particularly in the Middle East and India is leading to the surge in gold demand



Gold Investments Market Update as of 9/3/2008
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 05 Sep 2008, 06:22

The 2 hour gold chart shows broken support and potential resistance at $815?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 09 Sep 2008, 22:22

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 12 Sep 2008, 18:37

Finally an oversold bounce. PM stocks up over 8%. Most likely short covering.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 17 Sep 2008, 21:47

A weekly perspective on the gold price. The weekly 45 degree bullish ascent held in a big way.

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AIG bailout on top of FNM, FRE bailouts. WM expected to give up the ghost next. Where do you take your money?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 18 Sep 2008, 21:08

The madness continues

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 20 Sep 2008, 22:01

$Gold ends the week up $120 after tumultuous trading on Friday Sept 19, 2008.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 22 Sep 2008, 01:27

On the recent spike up from $750, Harry Schultz makes these remarks


Harry Schultz of the International Harry Schultz Letter is an enterprising traditional gold bug who has adopted much of the radical critique. Schultz is quite often cautious about gold's short-term prospects. But for some months he has been positively apocalyptical about financial system risk.

Well? Anyone got a problem with that now?

Writing on Tuesday with gold around $780, Schultz was once again relatively cautious about gold near-term prospects:
"Gold bullion has so far held crucial $750 uptrend line support from its July 2005 low, helped by an extreme oversold condition and rapidly deteriorating troubles in the financial markets. However, we repeat that the constancy of any gold rebound cum reversal will depend largely on the U.S. dollar, which requires a 2-day close below December $78.30 to destabilize the bulls, and again below $76.70 to confirm a significant U.S. dollar top. Unless these levels are breached, any strength in gold bullion will remain suspect."

The US Dollar Index closed at 77.67 on Friday.

But Schultz also warned: "As the U.S. dollar moves back to the receiving end of its own 'misdemeanors' and its July rally-leg teeters dangerously, it's less likely that global central banks, frantic to exit huge U.S. dollar reserves, will act with the same former restraint and co-ordination. In fact, we could see a mad dash for the U.S. dollar fire escape and potential "moon-shot" for gold!"


Peter Brimelow Story on Goldbugs Gloating but Guarded
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 22 Sep 2008, 16:10

Maybe not a Moonshot, but certainly a Slingshot


The uptrend dating back to May 2008 is back in force.


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 27 Sep 2008, 08:19

On the verge of a breakout as commodity stocks get trashed 9/26/2008

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Yamana Gold taking a huge hit even as Gold is up.

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Why is the Toronto Stock Exchange down over 400 points on the day while gold/silver are up and the Loonie is up?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 07 Oct 2008, 16:57

Severe market stress as the bipolar nature of gold exerts its influence

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All while commodity stocks are trashed


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 10 Oct 2008, 00:49

Triple Top Breakout on the 8 hour chart

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Another gut wrenching $100 decline from a momentary $947 spike high to $847 as gold and silver shares are trashed 12% - 25% during the Comex open


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 19 Oct 2008, 16:09

Breakout followed immediately by WIPEOUT. Whoulda thunk?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 27 Oct 2008, 19:20

Something is very seriously wrong with this picture.

Compare $CDNX (small cap miners) to spot gold and silver..

The Canadian Venture Exchange Chart for 8 years

Gold Bounce?

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Silver Bounce?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 31 Oct 2008, 05:32

Silver appears to be the leading indicator for precious metals

$9.20 silver must hold or the uptrend dating back to May 2004 is over


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And finally, a definite maybe breakout in $silver.

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The Canadian dollar / USD is UP. Gold, Silver up...a good day for precious metals? Hell NO another complete end of day wipeout

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No optimism allowed.

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The bullion banks remain firmly in control.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 12 Nov 2008, 15:11

Silver in deep trouble

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And when you think there is no hope, the price closes above $9.60, keeping the uptrend in place.


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 21 Nov 2008, 19:08

Gold up $57 in a day (11/21/2008). Corresponds to the USD being down $.02 against the Canadian dollar.

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The 8 hour chart dating back to February 2008 shows the struggle to maintain an upward bias in the gold price.


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And if you should feel any optimism, here is the weekly look at the gold chart during Asian trading hours on the 23rd.

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The Canadian Venture Exchange (CDNX) dropped another 12% for the week despite huge 1 day gains in the U.S. and Canadian markets

http://stockcharts.com/h-sc/ui?s=$CDNX& ... 6441707150
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 05 Dec 2008, 00:20

Resistance on the weekly gold uptrend line from July 2005.

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Gold is trading within 8 hour downtrend channels

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 13 Dec 2008, 13:43

Unbelievable volatility on the weekly chart as the "powers that be" easily shake out small investors

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Looking like the beginnings of an uptrend as precious metals stocks are up even as physical gold, silver, platinum, palladium prices are down on Friday December 12, 2008. Note the $30 channel separation on the uptrend.

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Incredibly, the Canadian junior miners continue to trade at Y2K levels or $Gold at $250. Many of the junior producers (on my cash rich model portfolio) are trading for less than cash holdings notwithstanding the value of minerals in the ground.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 24 Dec 2008, 14:12

The Christmas Eve $gold quandary. Up or down? Crude oil down a whopping 10% today. Silver barely moving. Canadian dollar slightly stronger than the USD. Tepid pre Christmas market rally after 5 consecutive down days.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 03 Jan 2009, 09:31

Santa Claus to New Years Rally leaves the gold price retesting the July 2005 uptrend

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 07 Jan 2009, 21:08

Backtest of the downtrend

The miners went down 6% - 18% on this little move down.

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This article from FT Alphaville has the best explanation for the gold selloff ahead of the 2009 commodity index rebalancing.

Beware, commodity index rebalancing ahead
Posted by Izabella Kaminska on Jan 05 15:34.

The major commodity indices rebalance their respective asset weightings once a year (or occasionally more) — and with that comes a mass dose of buying and selling. The 2009 rebalancing is expected to start sometime this week.

Luckily, JP Morgan has produced its best guess of how the 2009 reweightings of the DJ AIGCI and the S&P GSCI indices will impact the market.

The weightings for both indices are released ahead of time, but begin to kick in the first few working days of the new year. In the case of the DJ-AIGCI — which JP Morgan estimates has $25bn in funds tracking it — the new weightings come into force during the roll period that begins January 9th. The S&P GSCI index weightings kick-in after its January roll which commences January 8th. JP Morgan estimates about $50 bn of investment into that index.
As the DJ weighting multipliers account for changes in US dollar-denominated values there is generally more potential for large changes there than in the GSCI, whose weightings are set in terms of ounces/tonnes (on the basis of liquidity and are weighted by their respective world production quantities).

Accordingly, JP Morgan see the most significant change coming in the DJ-AIGCI rebalance. Here the market weight of crude oil is expected to increase from 9.6 per cent to 13.8 per cent, gold from 10.8 per cent to 7.9 per cent, copper (COMEX) from 4.5 per cent to 7.3 per cent, live cattle from 6.4 per cent to 4.3 per cent and sugar from 4.7 per cent to 3.0 per cent. Meanwhile, S&P GSCI crude oil weight will go from 32 per cent to 33.8 per cent. Their analysis:

In financial terms, we expect the rebalancing to have the greatest impact in gold, COMEX copper, crude oil, gold, and live cattle. We estimate that the rebalancing of the two indices is expected to result in $877 million of selling in gold, $699 million of buying in COMEX copper, $528 million of selling in live cattle, and $523 million of buying in crude oil.


http://ftalphaville.ft.com/blog/2009/01 ... ing-ahead/
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 09 Jan 2009, 15:37

Silver attempting to cross another hurdle: the Little Engine


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The monthly chart

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 12 Jan 2009, 23:46

Incredible volatility in the silver ETF (SLV)

Pure manipulation, plain and simple. How else do you account for these violent moves up and down with obvious price capping at $11.40?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 18 Jan 2009, 09:14

January 16, 2009, Friday before the Obama Inauguration

Monthly gold


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Daily gold

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4 Hour Silver

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 23 Jan 2009, 22:00

The US Dollar is beating up on every currency except the Canadian Dollar

Gold, Silver, Oil beat up the dollar today, January 23, 2009.


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January 26, 2009 update

Look at the price of silver on
August 17, 2007 at around $12/oz.

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Now look at the share prices of silver companies including "pure plays" like Silverstone, Silver Wheaton, Silver Standard, Pan American down over 50% on average for the same spot price.

http://megamata.com/mike/html/SilverAug200720090126.htm
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 29 Jan 2009, 00:11

'Splain me this Lucy, why is gold down and the US dollar up on this news?

Obama's $825 billion bailout package passes Congrress

Weekly gold showing resistance. Ah hah, must be deflation as the general market soars today.

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Pundits calling for $850 retest. I think it's $870. Who's selling?

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 29 Jan 2009, 22:29

Important reversal day in silver and a break above August 2007 levels.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 07 Feb 2009, 14:38

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 13 Feb 2009, 10:03

Looks like silver wants to retest $15.50.

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 20 Feb 2009, 19:17

Weekly silver shows breakout from May 2006 lows

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Silver 2 hour "power" uptrend still intact


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 05 Mar 2009, 14:57

A Day in the Life

The Dow is now down to levels not seen since September 1996. Here are some gold and silver shares I like.

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Silver weekly chart showing a major bounce off support

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Silver 2 hour chart showing support more clearly


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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 20 Mar 2009, 02:51

How bullish is this?

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Top silver shares: SLV,SVM.TO,SST.V,SSRI,SLW,PAAS,GRS,OK.V,AQI.TO,EXK going ballistic


Silver shares on the Cash Rich Miners list (Orko, Aquiline my favorite explorers)
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 22 Mar 2009, 00:10

How Bullish is This? Gold

Weekly


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Daily

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 01 Apr 2009, 16:48

Silver miners are down 49% since August 17, 2007 though SLV and CEF are up

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Here is the relatively equally weighted model portfolio from 8/17/2007 at $11.61 silver. Only 2 Canadian silver juniors are positive in that timeframe: Orko and Silverstone. A lot of catching up to do for silver mining stocks, certainly no "overbought" situation here.

Silver Miners are down 49% since August 17, 2007
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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 07 Apr 2009, 00:19

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 25 Apr 2009, 02:04

Weekly Gold and Silver Clawing Their Way Back

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Re: The Netdania.com Spot Gold Chart

Postby mxsquid » 21 May 2009, 15:22

Spot silver not quite at a breakout.

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