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Thread: Discuss Commodities

  1. #4636
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    SkiBunny already knows we're at QE10. No doubt about it.
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  2. #4637
    byways is offline Member
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    Quote Originally Posted by SkiBunny View Post
    Ealrlier this week the Saudis announced a new, higher minimum price of $100 for brent crude. Saudis say they will otherwise slash production as much as required to maintain a minimum of $100.

    Dow Jones reports central banks made net purchases of 430 tons of gold for 2011, which was 5.5 times more than their net purchases of 77 tons in 2010

    So the new reality seems to be a floor price of $100 for brent crude, below which the world's largest producer will not sell, and currently a floor of $1700 for physical gold and $35 for physical silver, below which point there exists insatiable demand from some central banks and rich sovereign wealth funds.
    Do I detect a slight difference in direction here? Caron says $1307 within 2 weeks?

    objectif 1307$ pour le 27 Janvier 2012

  3. #4638
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    Quote Originally Posted by SkiBunny View Post
    Gold is a proven long-term store of value, no more and no lesss. Dollars and euros are legal currencies appropriate for transacting but no store of value - a "mass delusion" among many of the human race.

    Greece defaulting is relatively minor. What is frightening is the fragility of the massively leveraged financial system and its frightening exposure to huge derivative schemes that could sour and totally destroy it. People are capable of incredible levels of creativity, greed and destruction. Unfortunately the latter two usually happen together and quickly with little warning. Will the end of the financial system today have dark repercussions not unlike the end of the financial system in Roman times? Perhaps.

    The strength or weakness of national currencies is a mirror of the human condition. Sadly, our global society is presently at the mercy of a generation of unrestrained greedy bankers and ineffective politicians. My faith is in the history of gold as a store of value, not in the bankers and politicians making right, at this point in time.
    I've only been to Rome once and everything was fine there. The food was excellent, the people were friendly and some of the same old buildings were still there...All human societies evolve over time but no one can predict exactly how they are going to evolve. I look at the bright side - Saudi Arabia is going to allow women to vote and (gasp) run for office...There has to be some hope for humanity if that can happen

    The derivatives could all be declared null and void by the Western governments courts. If the banks which made bad business decisions collapse that might be painful in the short run but a good thing in the long run. It doesn't mean the continent of Europe is going to sink into the ocean.

  4. #4639
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    Gold
    From today's edition of the webinar Bulls vs. Bears @
    The Trading Room 11:30 GMT Mon - Fri


    Silver


    Brent Crude
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  5. #4640
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    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    FTSE100
    From today's edition of the webinar Bulls vs. Bears @
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    S&P500
    Last edited by Alejandro Zambrano; 01-19-2012 at 09:20 AM.

  6. #4641
    byways is offline Member
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    Quote Originally Posted by Alejandro Zambrano View Post
    Gold
    From today's edition of the webinar Bulls vs. Bears @
    The Trading Room 11:30 GMT Mon - Fri
    Spot on! Except gold not yet gone up to R1, lets hope it's still traveling. It's finding Resistance at 1600.

    Your S&P is right except labelled Brent, bet that would have been right too!
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  7. #4642
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    Quote Originally Posted by byways View Post
    Do I detect a slight difference in direction here? Caron says $1307 within 2 weeks?
    Given this fast $140 run in gold and the price damage beforehand, I agree gold could consolidate and move lower over the next two weeks, tho I am not a short-term gold trader, and I stay away from comex paper.

    I am a long-term bullion trader. With due respect to Caron, I nevertheless believe gold is more likely headed to 1907 rather than 1307. I think it would require a shock to get gold down to the low levels predicted by other members here. Instead, Europe has discovered US-style bank tarp and monetary easing, while US China Japan and UK are easing too. December witnessed significant policy changes in Europe & China and probably saw an important low in gold & silver. I think new highs are more likely ahead rather than new lows. We will see. Currently every buy point I made in December is currently higher now, the last one sharply so.
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  8. #4643
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    Survey: Gold price to increase in 2012 Send to a friend
    Tuesday, 17 January 2012 22:06
    digg

    Johannesburg. Mining companies expect the price of gold to continue to increase this year, with firms surveyed by PricewaterhouseCoopers (PwC) expecting the precious metal to peak at $2,000/oz this year.

    In its latest Gold Price Report, PwC said that 80 per cent of mining companies expect higher gold prices in 2012, with only 6 per cent anticipating a decline. Predictions from executives surveyed hovered at the $2,000/oz mark, with the highest prediction at $2,500/oz and the lowest at $1,350/oz.Gold, which topped $1,900/oz last year, traded at $1,640/oz on Monday.
    Survey: Gold price to increase in 2012

  9. #4644
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    Who said this? Probably some wacko with a tin hat, no?

    Quote Originally Posted by Mary R View Post
    .... (when) reality sets in that (gold is) just a piece of worthless metal . It's one of the mass delusions of the human race.
    I just can't let that go any longer.

    And the quote is:
    "In the absence of the gold (commodity) standard, there is no way to protect savings from confiscation through inflation.....The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against the gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' anatgonism toward the gold standard."


    Any idea who said that?
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    Charts are never wrong, but the chart reader often is.

  10. #4645
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    Quote Originally Posted by TAfool View Post
    I just can't let that go any longer.

    And the quote is:
    "In the absence of the gold (commodity) standard, there is no way to protect savings from confiscation through inflation.....The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against the gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' anatgonism toward the gold standard."


    Any idea who said that?
    1966 -ALAN GREENSPAN AT THE TIME HE WAS INFATUATED WITH AYN RAND...............

    "THE ABSENCE OF THE GOLD STANARD, THERE IS NO WAY TO PROTECT SAVINGS FROM CONFISCATION THROUGH INFLATION...THIS IS THE SHABY SECRET OF THE WELFARE STATIST' S TIRADE AGAINST GOLD. DEFICIT SPENDING IS SIMPLY A SCHEME FOR CONSFISCATION OF WEALTH. GOLD STANDS IN A WAY OF THIS INSIDIOUS PROCESS. IT STANDS AS A PROTECTOR OF PROPERTY RIGHTS, IF ONE GRASPS THIS ONE HAS NO DIFFICULTY IN UNDERSTANDING THE STATISTS' ANATGONISM TOWARD THE GOLD STANDARD

    ?
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  11. #4646
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    Quote Originally Posted by TAfool View Post
    Any idea who said that?
    Wonderful quote and truth! It is sooo sad how much both he and the greatest republic declined since then.

    Another point about the welfare state and gold:.. Gold ownership does not necessarily protect the savings of those forced to pay capital gains tax on inflationary gains (i.e., you can lose purchasing power in a rising asset, after-tax and inflation). Collecting tax revenue on inflationary gains is another incentive for insolvent governments to inflate. So expect more QE from cash-strapped countries.
    Last edited by SkiBunny; 01-19-2012 at 07:48 AM.

  12. #4647
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    Quote Originally Posted by byways View Post
    1966 -ALAN GREENSPAN AT THE TIME HE WAS INFATUATED WITH AYN RAND...............

    "THE ABSENCE OF THE GOLD STANARD, THERE IS NO WAY TO PROTECT SAVINGS FROM CONFISCATION THROUGH INFLATION...THIS IS THE SHABY SECRET OF THE WELFARE STATIST' S TIRADE AGAINST GOLD. DEFICIT SPENDING IS SIMPLY A SCHEME FOR CONSFISCATION OF WEALTH. GOLD STANDS IN A WAY OF THIS INSIDIOUS PROCESS. IT STANDS AS A PROTECTOR OF PROPERTY RIGHTS, IF ONE GRASPS THIS ONE HAS NO DIFFICULTY IN UNDERSTANDING THE STATISTS' ANATGONISM TOWARD THE GOLD STANDARD

    ?
    The few people who know the truth about Greenspan's career and life history are amazed at what an incompetent and dangerous clown he really was . Even when he was with the old consulting firm Townsend Greenspan most of his market predictions were invariably wrong. But he was appointed Fed chairman by a man with Alzheimer's Disease so what can you expect?

  13. #4648
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    Gold
    From today's edition of the webinar Bulls vs. Bears @
    The Trading Room 11:30 GMT Mon - Fri


    Silver


    Brent Crude

  14. #4649
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    Morning Outlook from the Trade Desk - 01/19/12

    Gold hit the $1,670 resistance level in overnight trading and finds itself nicely stuck in the middle of the range this morning. Euphoria continues as the two worst indexes in 2011 are so far the best performing in 2012: the financials and home builders. Confirmation that we have turned the corner will need to come from the bond market. Interest rate yields must begin to rise for confirmation. If not, it indicates lack of confirmation in the equity markets. I still believe this is a short term trade in the equities. The economic realities still portend a recession in Europe this year, which should impact earnings.

    The metals are treading water. They should be moving higher if the trend from last year is still in place, where the metals move in tandem with the equity markets. If they have de-coupled, the short term may be a difficult period for gold to outperform. The industrial metals should close the gap with gold on a ratio basis.

    Note: An industry colleague of mine is seeking user feedback for an exciting new web application he is developing. The app allows users to track the performance of their precious metals. A free demo is available here: www.bulliontracking.com/en/try/

    Candid feedback is welcome!

  15. #4650
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    Three May Be Oil Bulls Lucky Number

    Three May Be Oil Bulls Lucky Number as Global Growth Prospects and Geopolitical Tensions lend Support above $100.00 /bbl
    รูปขนาดเล็ก รูปขนาดเล็ก Discuss Commodities-5.jpg  

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