USA Zeus 22:45 GMT September 1, 2006
Speaking of the last 6 mos or so to be fair since my gold posts don't go back years etc-
Gold has seen a huge spike in price volatility and paper traders have made a fortune using gold as a commodity (check my archives for example of what I mean). Viewing gold as nothing more or less than a commodity has been "pristine"- a big boyz account multiplier. Primary function of wealth creation is being prepared in the eye of opportunity.
But, don't let yourself be fooled by randomness. If you took a mutual fund style "dollar cost averaging" approach on the physicals during this terrific volatility how much would you have made? Bingo- Zilch- Yep sad but true. Spending money on gold would have made dealers happy and that's about it.
Dollar cost averaging (buy and pray) never beats the big boyz. At very best = average returns. Just like what gold has done for the same comparison 6 mo timeframe some up some down- Flat. Sad but true. Some pump gold on a daily basis saying that stocks are crashing (never happened) the USD is done (never happened) and gold is now breaking higher higher from 680, then 660, 640, 620 etc.
Some spend their money on gold and some use gold to make money. Nothing else needs to be said.
hong kong seek 20:52 GMT September 1, 2006
hong kong seek 14:31 GMT August 31, 2006
london mamun 14:20 GMT August 31, 2006
ths, open order to long at 620 again...good luck!
added more gold at 620..
Vienna GD 16:50 GMT September 1, 2006
HUI now 354 and clearly above resistance, so now that resistance will most like turn into support.
My equities account just also just made a new 2006 high.
Content of that account: (almost all) stocks related to gold, silver, palladium and platinum. Further some stocks related to copper, titan and uranium.
All bot within the last few weeks.
Further USO since yesterday, F short since today.
And a bit of QQQQ and SPY shorts. Patiently waiting for the next solar eclipse on sept 22. Within that time frame (a few days earlier or later or eventually/unlikely a few weeks earlier or later) the next downdraft in the broads will start. Then will add to those shorts.
Vienna GD 16:21 GMT September 1, 2006
$HUI more or less thru the STRONG resistance at 350 ... actually at almost 352.
Yet gold is still suppressed, so not sure whether that 350 will hold.
Vienna GD 16:14 GMT September 1, 2006
Wanted to post this a few hours earlier ... but then forgot about it ...
<< Again there are paper gold sellers that obviciously are terrified of a metals rally here. Don't allow them to fool you.
Silver and precious metal stocks are clearly leading the way - which is NOT down.
Serpentine ... buy a few % on dips like today - and sell a few % on rallies like yesterday.>>
Nothing else to be said.
london mamun 14:06 GMT September 1, 2006
CLOSED GOLD SHORT AT 620.6
Lahore FM 13:43 GMT September 1, 2006
closed gold longs from 622 at even,thinking that USD will strengthen further from here taking gold lower first.
houston st 13:09 GMT September 1, 2006
london mamun 12:53 GMT September 1, 2006
short gold at 625
PAR 09:55 GMT September 1, 2006
On top of that low volume days like Us labor day or easten monday are perfect days to manipulate the LME market which is already not very transparant.
PAR 09:41 GMT September 1, 2006
Apparently Barclays found new Hunt Brothers to corner the LME nickel market buy buying all available Nickel stocks .
sanfrancisco analyst 04:06 GMT September 1, 2006
Prior reference to NFL football pattern in USD Index still holding, guess it waits for NFP to break.
houston st 02:08 GMT September 1, 2006
nat gas & eur/jpy charts
USA Zeus 00:51 GMT September 1, 2006
Referring to an earlier post: to be just negative about trading gold to make money is one story. Consider gold to be a commodity and not a spouse. Some spend money on gold and others use gold to make money.