Gold

sona_mcx · #1 31st October 2005, 03:45 AM

All those who have the money and the patience can sell gold in FEB contract and wait , As there is no or very little physical demand for gold at the current price.

All those predicting a rise of gold to 500 USD per troy ounze are very far from reality . I doubt that GOLD will get there this year .

pooja_salve · #2 31st October 2005, 01:12 PM

i do agree with U !

in short term correction is expected in bullions but long term outlook is strongly bullish. the target of $500 by analyst is also for mid 2006.

thanks

pooja_salve · #3 2nd November 2005, 12:18 PM

hi everyone

now the FOMC meeting is over so i expect some positive trend in bullions.

rajeshp · #4 2nd November 2005, 02:38 PM

Quote:

Originally Posted by pooja_salve

hi everyone

now the FOMC meeting is over so i expect some positive trend in bullions.

Please explain what you mean. Thanks, Rajesh

rajeshp · #5 2nd November 2005, 02:41 PM

Quote:

Originally Posted by sona_mcx

All those who have the money and the patience can sell gold in FEB contract and wait , As there is no or very little physical demand for gold at the current price.

All those predicting a rise of gold to 500 USD per troy ounze are very far from reality . I doubt that GOLD will get there this year .

I disagree. I working within Physical Commodities and the trends we are seeing could well mean that Gold prices hit 500. However i agree with you in as much as that it could well be into January, Febuary before we see this.

Rajesh

sona_mcx · #6 3rd November 2005, 03:13 PM

Hi
Article on Gold

http://*********/finance/fullstory.php?id=13976110

Mareeche · #7 3rd November 2005, 06:52 PM

Interesting discussion raised by Sona_mcx. My two bit views on this are that while Gold price being dependent on physcial delivery demand, this in turn can swing if there are any important developments either in macro economic matters, or strength of Dollar or state of equity markets or even some other potential causes.

I'm herewith attaching a chart with the moving averages for those having a technical view. It should take quite some strength for gold ot make an immedidate upmove towards the 500 figure. Its hovering around the 50ema and if it breaches this, it should be looking for the 100ema which is in the 455 regions.My personal view being that it continues to be weak while y'days little bounce must be on technical oversold conditions. Presetnly I would like to be on the short side than on th long.

Pradeep Unni · #8 23rd November 2005, 11:08 AM

HI

The big upward extension in gold prices last week seemingly turned around a number of technical indicators in gold and that could prompt an aggressive move to a new higher trading range. In addition to reversing the pattern of lower highs since the critical October high, the December gold contract also managed to dash ideas that gold was forming a top off the September through November head and shoulders formation. Given the sharp upward extension last week, we suspect that December gold will have little overhead resistance until another trend line is encountered up at $490. Using a measurement count off the September and October consolidation, our projection for the top of the new trading range is $505. Using up trending channel support lines, we see close-in support in December gold to be $474. Weekly resistance lines in gold would seem to project longer term upside targeting to be $535. However, in order to justify a rise to the upper targeting, the gold market must begin to show persistently increasing volume and open interest statistics. In other words, to fully verify a strong bull market mentality, it would certainly help to see daily trading volume hold consistently above 70,000 contracts.

Suggested Trading Strategy: Buy February gold at $478 with an initial objective of $499 and then again up at $505. Risk the position to a close below $473.50.

REGARDS
Pradeepunni@rediff*********

sh_suhan · #9 23rd November 2005, 01:30 PM

Hi,

Need a suggestion. I went short on Dec contract at 6985 level. Have been ruing the decision as the 7300 mark has been breached. Can anyone tell me when the prices are going to top off and be close to 7000 levels.

Thanks
Suhan

HORSTWALTER · #10 30th November 2005, 12:48 PM

Quote:

Originally Posted by sona_mcx

[...]

All those predicting a rise of gold to 500 USD per troy ounze are very far from reality . I doubt that GOLD will get there this year .

have a look at the market

Physical gold and silverinvestment must be. If you dont have physical gold you cant feel the power of it

Best regards

HORSTWALTER

PS: How much would a physical oz (Maple Leaf, Philharmoniker, Kruegerrand etc. cost in your country sona_mcx?

Similar Threads for: Gold
Thread	Thread Starter	Forum	Replies	Last Post
Gold	Mareeche	Metals	2	10th December 2005 07:11 PM
A Gold Mine!!!	singhtrader	Introductions	3	16th November 2005 12:13 PM
pot of gold at the end of the rainbow.	thewiseoldfool	Introductions	2	27th September 2005 01:23 PM
Gold looking lower?	Saint	Metals	10	3rd June 2005 09:37 AM
Gold at $454	Saint	Metals	1	30th November 2004 12:41 PM