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Speculation that the FOMC could hint at the taper timing at its monetary policy decision this Wednesday. Think boys might drop throughout this week,
not normal unfortunately
This summer is normal unfortunately really depends on the USA how they want the dollar to move. They pump so much money into the market. I can't see them want the dollar to drop more and let gold gain. Russain and Chinese eyeing this. they can't wait for the dollar drop. Russia said holds more gold than the dollar in the reserves. So i can't see usa let gold price move above 1900 for this short period of time(they time buying up the gold themselves for the cheap price in case the dollar does crash)
better week ahead i'm sure. i wouldn't want to be out of fres. hopefully £9+
That depends on whether they can manufacture another wave down to c$1,750 on Gold on some BS deflation/higher rates narrative.
If it isn't here/now then it's there/then - I can't make it any simpler than that but there's no guarantee the above happens so I would expect money to arrive here/now and dip buying going forwards, the curve back up to much higher SPs is all but guaranteed IMO.
Gold is currently heavily oversold on the hourly - I'm not, personally, expecting a red month on Gold/Silver for a good while yet - the Summer usually gives Gold its best/biggest rises, even in "normal" times.
I don't see this breaking 700s regardless of what happens.
gold is on the rise guys..... bet your horses...
@ bonker so the price now is it bottom? 800ish mark? i look past history 500 and 600ish most bottom level . but it seems the sp for this summer want stay 800ish support.
You couldn't be more wrong about the US & Western govts not wanting their currencies to lose value - it's a race to the bottom now as China is, and will continue to be well beyond our lifetimes, The Boss.
If you want to export to the new consumer base over there, i.e. actually have jobs in your own country, then you don't want a strong currency - have you seen the US trade deficit? Truly jaw dropping and it's widening apace.
They have to kill the Dollar and everyone knows this.
Gold/Silver/miners will be manipulated as always until the very last moment but if you've bought within 5% of the bottom of a two year+ supercycle then you've never had it so good.
Stop sweating the dailies.
14 days astro to basel111 report, maybe China is buying all this gold while it is cheap, China has more gold than the US now, we could see this volatility in gold price end when this comes out.
10p bounce any1?
Let's hope the Basel III report end of the month will let real gold price value shine....
2 things happen now. Comex behind paper golds want to keep gold price low and also the USA government and western government wants gold price low(they don't want the dollar to lose any value. you can see why Russian and Chinese buy as much gold as possible to kill the dollar off the USA keeping the price down,
The highest inflation reported last Friday and golds still drop. all the text box theory drop into the fire.
i was hoping to withdraw from shares to wait for the big correction looks like fresnillo and polymental SP i have keep a long while now....
Silver down 1% downbutnotout today.
Well 999 you don't know what to do really, i could buy some more and average down a bit, that is ok but how low will it go, i know i won't sell because they will go up in time.
silver price hasn't dropped. only gold has dropped this morning.
@nogger going add money in, withdrew or just wait. Im 5 percent down
Spoke to soon.
I expected it to be worse than this, mind you the day isn't over yet.
We need the dollar to go down to bring the price of gold up.
People hopes shorting finish price rise didn't. Next inflation increased price rise hope didn't happen. Until gold ride above 1900 just so not moving anyway. As said before gold and silver is more liking horse betting. Forget the fundamental regard inflation the government will never let the gold and silver increase.
straight back down to 853p
Silver dips a bit and FRES takes a caning.
Yet, silver is still just shy of USD28!
Crazy times...
Like we could be heading for a down day today, looking at the price of gold and silver, gold really getting hammered at the moment.