November 21, 2017 
 Tuesday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By gfxgold

10/24/2004  11:44PM

Gold, $428.40... and rising. the price of gold has had resistance once it gets close to $430. let's see what happens this time.
 By bluejay

10/24/2004  4:44PM

The Dollar is weaker in Australia at 85.47 which is off -.50 from its New York close.

Gold's last is 427.60 up 3.60

Remember, the 85 to 86 level is support on the Dollar. If this level yields to sellers or the lack of buyers, gold will move higher.
 By bluejay

10/21/2004  12:15PM

An excellent chart showing the price comparison between the U.S. Dollar and gold was posted on the jsmineset.com website today. It can be accessed by going to http://www.sitedynamo.com/cwsv3/trial530369/miscfiles/danchart-oct20-04.pdf.

The past 14 month relationship clearly shows that gold moves in the opposite direction in a locked step with the Dollar.

The chart clearly defines the 85 to 86 support area for the Dollar and the 425 to 430 resistance area on gold. If the support area on the Dollar is broken it will certainly propel gold higher and through the 430 area.

The current price of gold and the U.S. Dollar is available 24 hours of each international trading day at http://www.kitco.com.

The chart was created by Dan Norcini/Houston,Texas.
 By bluejay

10/20/2004  8:52PM

Russia's central banker says gold should be considerably higher.

Oleg V. Mozhaiskov, Deputy Chairman of the Bank of Russia, made an important speech relating to gold and mentioned GATA(Gold Anti-Trust Action Committee) in speaking at the London Bullion Market Association's gathering at the Baltchus Kempinsky Hotel in Moscow during the period covering June3-4, 2004. The text of that speech was just now made available by GATA.

The report is available for reading at Google.com. Search GATA and you will find it as the second displayed heading, "Russia's Central Bank takes note of GATA."

Bill Murphy, Chairman of GATA, makes some eye opening comments concerning his not being able to gain access to this speech for months at http://www.smartstox.com/interviews/gata4.html.
 By bluejay

10/04/2004  9:46PM

Lynwood
You sound quite historically savy. You are a rare breed. My analysis of future prices is mainly based on long term historical chart patterns.

Just in the past few years I have increased my education on patterns by reading Jim Sinclair at http://www.jsmineset.com. As I have mentioned here on the Forum a few times, Mr. Sinclair maintains an access free website. If he charged $1000 for an annual membership it would be well worth it.

Fundamentals and history will always be important.
 By lynwood

10/01/2004  9:15PM

It is true, Bluejay, that those with historic knowledge of commodities remember that gold and black gold drive the financial capitals of the world and of individuals’ holdings. My history is better than most but my confidence that I understand the precarious positions many have placed themselves with debt and equity is not as strong. I prefer the strong sense of history in gold since 1968 than putting the contemporary point across. Gold and black gold, well, the public thinks it knows who owns the oil. How about the gold? Where is the gold? Who owns the gold? Who controls the gold or is it the same as those who own it? Neither of us will ever have the answer to these questions because the very essence of gold blocks outsiders from knowing. That is why those oil sheiks traded their dollars for gold in the close of the 1970’s. Your predictions are good. Are they fundamental, technical or historical?
 By bluejay

10/01/2004  11:05AM

Apocalypse Now?
By Julius Cobbet
Posted '30-SEP-04 15:00'
GMT @ Mineweb 1997-2004
JOHANNESBURG (Mineweb.com) - excerpt

Current trends certainly indicate that the world is experiencing a shortage of non-renewable resources. Oil is attracting the majority of the attention. This year crude oil has hit all-time highs; spare capacity - the difference between supply and demand - is said to be the lowest it has ever been. At the time of the oil crisis in the 1980's, spare capacity was estimated to be 15 million barrels a day. Currently, the margin is estimated to be less than 1 million barrels; indicating serious supply difficulties for the future.

Gold and oil have a historical relationship, their price strengths and weaknesses are closely interwoven together.
 By bluejay

09/14/2004  1:45PM

Keep yourself informed on why gold has to go higher by logging in to the free website, jsmineset.com. Will the U.S. go to war with Iran? What do the expanding political changes in Russia mean to the price of gold?

This site represents a shinning beacon of truth that most certainly you will never completely find in the newspapers or on the nightly news.

The day is coming when the remaining wealthy investors will be to some degree holding gold and the companies that produce it.

The respected Paul Van Eeden whose commentaries appear frequently at kitco.com under Kitco Contributed Commentaries is stressing investing in some select gold exploration companies.

According to these two men, along with Richard Russell, gold is dirt cheap.
 By lynwood

07/17/2004  11:56AM

In Response to Rick on January 31,2004

The global thought you ask has changed over the last century; however with a slight substitution maybe the following is valid. To paraphrase most every seasoned text on international (that is what it was called before global) trade and financial relationships, the functioning of a gold standard in any country is greatly affected by the number of countries employing it. This point is important because of the wide variations in the geographic coverage of gold standards during the past century. For a few decades prior to 1914 gold standards were used by virtually every commercially important country in the world. Later the numbers fluctuated widely until the United States became almost alone in its use. The decade between the mid 60’s and 70’s collapsed the long-standing position of gold in international trade. Or did it? If we substitute the word “countries” with companies, corporations or groups or individuals, maybe today the global financial players are still using the only currency of payment trade and wealth storage that will last. When you think of oil, think of gold.
 By bluejay

05/30/2004  12:54PM

The overall selling pressure on gold has ended. The month of May will be marked as a reversal month that set up higher prices for the time period leading into May of 2006 where gold prices are expected to then hit 524.
 By bluejay

03/30/2004  10:02AM

Lynwood

Barrick has threatening financial problems as a direct result of their lessened but continuing in place old gold derivatives program.

For complete details visit the http://www.jsmineset.com website and locate the story, Newmont To Make Takeover Bid For Barrick?
 By bluejay

03/29/2004  8:55PM

Russia's Norilsk Nickel was reported in the Financial Times today, March 30, 2004, to have purchased a 20 percent stake in Gold Fields of South Africa. Norilsk Nickel is the world's tenth biggest gold producer itself.

Norilsk also holds the number one position for production of nickel and palladium in the world. Last year Norilsk purchased a controlling interest in the U.S. palladium and platinum producer, Stllwater Mining. Since that investment, palladium prices have shot up over 25%.

People should be aware of the inside market knowledge that the Russians are shrewd metals traders.

Norilsk made Gold Fields purchase along with current talks in South Africa of an impending 3% government royalty charge to the gold producers. No question about it, Norilsk is looking for a much higher gold price in the time period ahead that will undoubtedly dwarf the 3% proposed royalty expense.
 By bluejay

03/29/2004  8:55PM

Russia's Norilsk Nickel was reported in the Financial Times today, March 30, 2004, to have purchased a 20 percent stake in Gold Fields of South Africa. Norilsk Nickel is the world's tenth biggest gold producer itself.

Norilsk also holds the number one position for production of nickel and palladium in the world. Last year Norilsk purchased a controlling interest in the U.S. palladium and platinum producer, Stllwater Mining. Since that investment, palladium prices have shot up over 25%.

People should be aware of the inside market knowledge that the Russians are shrewd metals traders.

Norilsk made Gold Fields purchase along with current talks in South Africa of an impending 3% government royalty charge to the gold producers. No question about it, Norilsk is looking for a much higher gold price in the time period ahead that will undoubtedly dwarf the 3% proposed royalty expense.
 By lynwood

03/29/2004  9:34AM

A surprising report! Could it be a paper shuffle for reorganizing to trim overhead? Would this be just a continuing of the growth and consolidation phase of our global economy? What will be the US federal government response (Sherman anti trust action as it did in Microsoft)? In what ways could you and me be affected? Could this impact the small gold producers like 16 to 1? Barrick stole Homestake and left its shareholders with reduced value. Is this a win-win or will one side of shareholders gain at the expense of the other? Will anyone other than the few of us who understand the historical lessons of sound currency and the freedom it provides the common man have any reaction (pro or con)? Is this another step in the fraud and manipulation slowly being revealed about big gold (Blanchard suit)? Thanks for the tip, Bluejay. Could the continuation of past events within the gold mining/ banking or money creation/ social and political industries be like putting a happy frog into a pot of refreshing water on top of a stove with a flame underneath the pot?
 By bluejay

03/28/2004  10:30PM

The Sunday Telegraph reported March 28th that Barrick Gold, the world's third biggest gold producer, may receive a takeover offer from larger rival Newmont Mining Corp.
 By bluejay

02/11/2004  10:32PM

Once in awhile we come across that special individual in our lives that speaks the truth and religiously follows his or hers convictions with uncompromised passion that commands our respect. In past comments under this subject topic, Gold Enters Major Bull Market, reference has been drawn to Jim Sinclair's free website at http://www.jsmineset.com. Jim Sinclair tells it like it is and is an outstanding writer. He is a man of a comfortable life style that runs the website to educate people along with spending part of his time trading gold and being the chairman of a Toronto Stock Exchange listed company.

The following are Jim's comments made today under the general editorial "Big Al Talks the Talk" from his website:

"Big Al was speaking on Capitol Hill today, soothing interest rate fears which ebb and flow much like the changing tides these days."

"Let's face it, we live in an era of micro-indicators where the impact of this day-to-day minutiae in the marketplace displaces the big story which is self evident to anyone that has a pulse and their eyes open." That story is the dollar and the global threat of currency debasement which is going to lead to an increasing volatile marketplace and higher gold prices."

Somebody should start keeping track of the contradictory statements coming from so-called people "in the know" about where their currencies should trade relative to the U.S. dollar. But of course, the real challenge would be getting any two of them to agree on anything including what vintage wine to have with lunch."

With this theme in mind, sometime ago I received this Q&A from a skeptic whose had considerable success in the marketplace going against the economic wisdom of the day. Q: What's the difference between an economist and a befuddled old man with Alzheimer's? A: The economist is the one with the calculator."

"All of this banter in the marketplace is of course self-serving, bringing to mind the old gem that you can always tell when a politician is lying because "his lips are moving."

The US Federal Reserve, the current administration and the European Central Bank have taken this game of deceit to a level that even the Soviets never managed to achieve during the Cold War."

"The gold market doesn't seem to be buying this nonsense anymore and is building a solide base for the next move up that may see some increased volatility and a break of previous highs that might be as innocuous as gold's breach of the $400 level. Stick around. The next few months are going to be interesting, one way or another."
 By bluejay

02/02/2004  9:46PM

Rick

There is an eye opening article concerning technical thoughts relating to gold, the Dollar and some of the other component currencies of the Dollar Index that was recently published on the http://www.jsmineset.com website. The article is dated Monday, February 02, 2004, 11:07:00 PM EST.
 By bluejay

02/01/2004  10:58PM

Rick

Today, the constant for tracking gold's price movements is related to the U.S. Dollar. Everyone is most familiar with the posted Dollar activity of the day which is actually the price on the U.S. Dollar Index.

The Dollar Index is traded on the New York Board of Trade in NYC and is composed of six currencies:

Euro 57.6%
Yen 13.6%
UK POUND 11.9%
Canadian Dollar 9.1%
Swedish Krona 4.2%
Swiss Franc 3.6%

The main reason for the Dollar's weakness and Gold's strength in U.S. funds is attributed to the current administration's expanding red ink. The administration's current account debt and government debt is more than twice the amount of the Clinton years and continues to grow.

Our Current Account deficit with our trading partners is approximately $140 billion. During the administrations of Kennedy, Johnson, Nixon, and Ford the U.S. showed a slight credit balance over those years.

The problem with the Dollar is that U.S. economic recoveries are becoming more and more dependent upon a higher and higher amount of debt coupled with lower and lower interest rates. Until this trend is reversed, if possible, gold's performance will be tied in U.S. currency to the trading action of the Dollar.

The Japanese Yen is on the verge of moving up against the Dollar. When this happens, expect the Euro to reassert itself with new highs. Directly following the price of gold will advance again as the Dollar Index sells off to record lower lows.
 By Rick

01/31/2004  7:33PM

Bluejay,

Ususally I write from a perspective of politics, but this time, please help give me some perspective:

What parameter is the price of gold (here in the current political and/or global and/or US national climate) tied to the most, and therefore having the most immediate influence on volatility, be it both long-term and short-term:

1) Fluxuations from the recent ebb and flow of the US dollar;

2) Global economic instability, measured by the prospective survival and viability of EU;

3) Politics in the US today (presidential race pontifications);

or 4) Something I haven't thought about.

I value your insight, and enjoy your contributions. I know to even answer this is a tall order, and certainly not meant as a challenge. Basically, "Whaddaya think?"
 By bluejay

01/31/2004  2:28PM

Currently gold is trading in an inversed locked step with the U.S. Dollar. Gold weakened last week as a result of a slight upwards move in the Dollar that was orchestrated by the Federal Reserve Open Market Committee.

The Committee indicated in its January 28th press release that its time table for keeping interest rates low was changed in their mind from "a considerable period" to "be patient." As Paul van Eeden said, "the market, on the other hand, has no patience." "The Dollar immediately strengthened against the Euro and, as a result, the U.S. Dollar gold price declined." The thought of higher interest rates sooner, rather than later, would in theory encourage some investment in the U.S. Dollar. Ay least, that's the theory.

Usually when these kinds of semi-positive short term statements concerning the Dollar are made by officials, the Exchange Stabilization Fund is in the market making these people look good for political reasons by selling the foreign currencies that have strengthened the most against the Dollar.

In the Financial Times today it was reported that the Bank of Japan spent $67 billion this January to keep the Dollar higher against the Yen. A total of $187 billion was spent by them for all of last year for this purpose. Japan can not continue spending at this monthly rate. Somewhere in time, sooner rather than later, the Yen will move higher against the Dollar and gold will make new yearly highs.

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