Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I dont think gold is running up on Yellen testimony. It is running up on China demand.
Yellen testimony tomorrow, if she states they will continue taper, may cause gold to go lower, but recover in a few trading sessions.
Buyers will continue to look at employment numbers, IMO.
I think Yellen will say that taper can be modified, i.e. delayed, if necessary...
Looks like $6 before the news on Friday. Will be a nice pop or drop! GLTA.
I think Yellen is buying gold.... ;).
Gold opens above 1270 Sunday night...IMO. GLTA
Gold may spike a bit more next week. Employment numbers spooked emerging markets.
Like my JNUG postion alot more today!!!
Bet you 3LP was Qualcomm's idea as a precursor to end the litigation.
Not to be a Debbie Downer, but the unseasonably cold and snowy weather may prompt lower numbers, not to mention that a lot of the retailers had pretty bad earnings numbers, they usually prop up employment numbers through seasonal hiring.
Picked up some yesterday, glad I did, at least I will not have to wait to long for news, good or bad.
GLTA
You can only ignore gold and the miners for so long.
Looks like money is flowing into junior miners.
Saw on blurb that at a NEM investor conference call there was a reference made that NEM may have to cut their dividend. This may have been a reason for the large drop.
I did not think the production numbers were that bad.
Emerging markets will rebalance currencies over weekend.
A few pieces of the sky will fall next week...
Good time to pick up some cheapies...
I would buy NEM at $14.
Was lucky to get ABX in the $13s and $14s when everyone was selling.
Flipped it a few times to take profit.
Gold is not going anywhere, if anything some of the emerging markets that are going haywire will be buying gold as a safe haven.
Unusual times are coming...GLTU.
NEM announced production not earnings. I think earnings are expected to be announced on 2/20 per etrade. Wondering if earnings will take it down another 10%.
I hold ABX, still in the green, which has been pretty stable in my opinion and slowly creeping in the right direction toward $20.
Market is getting a bit wacky...
Earnings for gold miners are EXPECTED to be "REAL UGLY" but I think there will be a few surprises. Wondering if this is priced in already?
Sitting on the sidelines for now...
Trade the "see-saw", whoopie!
Um, NUGT will "eventually" get back to $39, really just depends on how patient you are... GLTA.
Out of my NUGT at $38.55... yay! 30%+ profit. Will pick up some more after earnings. GLTA.
Looks like the price of gold already adjusted for the full tapering last month. Should be interesting from here on out...
My DUST didnt even hit my sell price of $32, thought it would.
Market and gold are acting like they will skip this months tapering...hmmm
Nail biter till 1:00pm.
I think gold will end up higher with either decision by the Fed.
I will trade the "knee jerk" reaction for some quick cash.
What stood out to me was the increase in the amount of bullion gold delivered in China.
GOLD MINT RUNNING 24 HOURS AFTER PRICE SLUMP SPURS GLOBAL DEMAND
By Debarati Roy - 1/24/2014
7:21 PM
Jan. 25 (Bloomberg) -- Austria’s mint is running 24 hours a day to meet orders for gold coins, joining counterparts from the U.S. to the U.K. to Australia in reporting accelerating demand boosted by the bear market in bullion.
Austria’s Muenze Oesterreich AG mint hired extra employees and added a third eight-hour shift to the day in a bid to keep up with demand. Purchases of bullion coins at Australia’s Perth Mint rose 20 percent this year through Jan. 20 from a year earlier. Sales by the U.S. Mint are set for the best month since April, when the metal plunged into a bear market.
Global mints are manufacturing as fast as they can after a 28 percent drop in gold prices last year, the biggest slump since 1981, attracted buyers of physical metal. The demand gains helped bullion rally for five straight weeks, the longest streak since September 2012. That won’t be enough to stem the metal’s slump according to Morgan Stanley, while Goldman Sachs Group Inc. predicts bullion will “grind lower” over 2014.
“The long-term physical buyers see these price drops as opportunities to accumulate more assets,” said Michael Haynes, the chief executive officer of American Precious Metals Exchange, an online bullion dealer. “We have witnessed some top selling days in the past few weeks.”
Gold futures in New York climbed 5.2 percent this month to $1,264.50 an ounce, heading for the first gain since August. The Standard & Poor’s GSCI Spot Index of 24 raw materials slid 1.2 percent, while the MSCI All-Country World index of equities dropped 2.9 percent. The Bloomberg Dollar Spot Index, a gauge against 10 major trading partners, advanced 0.7 percent.
Prices Rebound
Prices rebounded 7.2 percent since reaching a 34-month low in June as physical buying rose. The Shanghai Gold Exchange, China’s largest bullion bourse, delivered 2,197 metric tons to customers in 2013, compared with 1,139 tons in 2012, it said Jan. 15. The Asian country topped India as the world’s top buyer last year as demand probably reached a record, the World Gold Council estimates.
The U.K.’s Royal Mint, which traces its history back more than 1,000 years, ran out of 2014 Sovereign gold coins because of “exceptional demand,” it said in a statement on Jan. 8. Coins weren’t available to customers until six days later when inventories were replenished. Sales by the Perth Mint, which also has workers producing coins in three shifts a day, will probably beat last year’s record, Ron Currie, the marketing director, said Jan. 20.
Fed is in a pickle.
Global markets will follow the U.S. markets down and vice versa.
What will happen to gold if Fed states no taper this round.
If they continue taper, by reading some the international articles, global stocks will head down and U.S. markets will follow.
Is this a plus either way for gold? Thoughts?
Wow, market went kaput!!
Not good to go into weekend down 200 points...
Not too much reaction from gold? Any thoughts?
China becomes top gold consumer in 2013
http://www.cnbc.com/id/101360569
China has overtaken India as the world's largest gold consumer thanks to soaring purchases of jewelry, minted Panda coins and small gold bars.
According to the Thomson Reuters GFMS gold survey, the most widely followed report on the industry, Chinese demand reached 1,189.8 tons last year, a 32 percent year-on-year jump and a fivefold increase since 2003.
----
GLTA - Let the roller coaster ride begin...
Miners seem to be coming back to life...
Guess gold is worth something after all...
I don't think DUST will fly, but there is always profit to be made on moves like this.
Don't think so. I sold a few shares early. Kinda not wanting to get near $38.50 now.
Gold has to get a bit higher.
May pick up some of the reverse twin as I expect the Fed will let the ballon out on gold next week.
GLTA.
Decisions, decisions...
Gotta take some off table...
NUGT is 40% ABX NEM and GG. Go miners!
Wow, disconnect between miners and price of gold.
Go nuggie!
Miners man, miners pulling up the ETFs.
Tomorrow will be very telling.
Either we close with gold above 1255 or it fizzles...
Miners seem to be picking up some interest so a fizzle may not affect the gold ETFs too much...
Gold miners take TSX to a 2.5 year high!
ABX up 4% on TSX...
Had to sell some at 29.5% profit. Was waiting for 30%, but too shaky.
Fed officials hinting that more stimulus is needed...
IMO
The PR sounds like a shell game.
The r/s happened. The D was added to PLPE, and shares were issued for the purchase of PLPE. Right?
The PR was correct in that no shares were issued for the purchase of Hive Ceramics. That we know about.