Gold: Past, Present, and Future

Just when I thought this thread couldn't get any more relevant, this pops up. 🙂>
http://www.zerohedge.com/news/2012-1...dollar-endgame

A quick look at how Quantitative Easing 3 has impacted gold prices so far...

http://2.bp.blogspot.com/-5VqRBhYb2_...ance+Sheet.JPG

Everything looks steady for now. Gold successfully tested its 10-day moving average today and bounced right back up. We’re all set for a breakout; the big hurdle is clearing $1,740. It feels so close yet so far—we're just about $15 away from making things easy.

10-day average tested, everything's primed for the move.

We’ll see what happens when the fiscal cliff finally hits. It feels almost certain that the US will raise the debt ceiling, and since nobody in their right mind is going to swallow that massive amount of Treasury bills, the Federal Reserve will just print more dollars. When that happens, you can bet your life that gold and silver will track the money supply and climb.

Maybe the domestic economy outperforms gold over the long haul. But on the short to medium term? I’m looking at a crisis—no, a massive meltdown—that won't end anytime soon, because they keep using that old 2008 playbook to just drag everything out. We’re watching the administration sharpen its teeth on the housing market. Who’s to say they won't turn their sights on land next? This isn't the time to buy into reality while everyone is still playing optimistic, hoping things "won't get too bad." You buy when the pressure is on, when people are backed into a corner and start panic-selling everything just to escape the tax man.

For now, my money is on precious metals, especially silver. Silver has all the same drivers as gold, plus its own unique reasons to rally. Plus, it isn't one of those trendy investments everyone is piling into, which means it stays off the radar of heavy tax scrutiny. And even if the IRS does come knocking, how are they supposed to know what you've got tucked away in a safe at home or halfway across the globe?

My bad, yesterday was 20, not 10 days ago:

20

Smells like a total meltdown... or are they just playing games?😁

A crash in what... shorts or longs? 😁

quiettrucker12 said:Right now, the only real headache comes from the tug-of-war between the S&P 500 and the US Dollar. They’re feeding off each other. Since the Euro is currently driving the strength of the Dollar, you could argue the real issue lies with stock prices and the Euro situation. Honestly, I’m not even sweating the Dollar much right now; I think Ben did exactly what he needed to do. As for gold, it all boils down to the S&P 500 and this supposed "crash" everyone is screaming about. Those crashes are incredibly rare, and if you ask me, the odds are slim. If the S&P 500 sees a correction over the next couple of days (or if it already happened last Friday), gold is going to rocket upward. That’s just how the math works, and frankly, it's the most likely scenario. A total stock market meltdown would probably drag gold up too, mainly because the Dollar would spike (>84). There's a decent chance the Dollar peaked on Friday, just like stocks hit their floor. Gold is basically just waiting for the bottom in equities to start its violent move up. It's hard to imagine a market crash happening right after they kicked off new Quantitative Easing—which, let's be real, is mostly useless anyway—specifically to prevent another 2008-style disaster. The doomsday prophets know this, so they play their trump card: praying Ben stops or delays this new QE. I find that hard to swallow. That would be a massive 180-degree policy pivot. Doing that would trigger deflation, bankruptcies, and naturally, a stock market crash. It seems unlikely the Federal Reserve would pull a stunt like that when they only need to give the market a tiny nudge downward to make it collapse. My take? Everything stays the course. Either the S&P finished its correction on Friday, or it wraps it up by Monday or Tuesday. After that, gold either hits $1800 (causing everyone to whine about a double top) before pausing and hitting $1900, or it blasts through $1800, stalls at $1820 for a breather, and then heads for $1900. If it were easy, everyone would be rich.

Dollar at 150 DMA, is a reversal coming?

We'll see on Monday. 150 might be enough to stall the rally.

Not happening today, buddy... at least not today!

lonehawk5 said:Smells like a total meltdown... or are they just playing games?😁

don't let machines control your emotions 🙂

Melissa Sanchez17 said:don't let machines control your emotions 🙂

Then came that $15 drop. Doesn't mean a thing to the long-term investors, and honestly? Traders don't even care...😁

The Fed is playing chicken with gold again. According to Fox Business, the Federal Reserve is looking to ramp up its gold holdings, potentially adding billions more to its stash. It’s a classic move—when things get shaky, they grab the shiny stuff. It feels like we've seen this movie before. Every time there's talk about Quantitative Easing, the central bank starts eyeing precious metals like it’s a safety net. They're basically hedging against their own decisions. It’s pretty dry, honestly, but it shows just how much they're bracing for impact. Just another day in the world of high-stakes central banking.

lonehawk5 said:Smells like a total meltdown... or are they just playing games?😁

They played games, but they weren't playing with gold—they were playing with the miners. What we actually saw in the gold markets was just the final leg of the USD rally, mixed with a tiny bit of fallout from that massive crash in mining stocks.

My take? Gold held its ground. I’m pretty sure we hit rock bottom at $5.00 back on the 1673 mark. I'm feeling fairly certain the stock market found its footing this past Friday, dragging the miners up along with it (especially given that extra help we talked about earlier).

Well, looks like the big money played us. They successfully wiped out the miners on Thursday, leaving all those retail players who jumped in on the news of Quantitative Easing holding the bag.

If my gut feeling on gold is right, we’re looking at a break past $1,750 next week.

dustyheron5, I hope you didn't sell off your SLW.

Alright, here’s a solid entry setup for gold at $722... doesn't really matter which way we go, honestly. Risk-to-reward is basically identical either way.

quiettrucker12 said:The Fed is playing chicken with gold again. According to Fox Business, the Federal Reserve is looking to ramp up its gold holdings, potentially adding billions more to its stash. It’s a classic move—when things get shaky, they grab the shiny stuff. It feels like we've seen this movie before. Every time there's talk about Quantitative Easing, the central bank starts eyeing precious metals like it’s a safety net. They're basically hedging against their own decisions. It’s pretty dry, honestly, but it shows just how much they're bracing for impact. Just another day in the world of high-stakes central banking.

They played games, but they weren't playing with gold—they were playing with the miners. What we actually saw in the gold markets was just the final leg of the USD rally, mixed with a tiny bit of fallout from that massive crash in mining stocks.

My take? Gold held its ground. I’m pretty sure we hit rock bottom at $5.00 back on the 1673 mark. I'm feeling fairly certain the stock market found its footing this past Friday, dragging the miners up along with it (especially given that extra help we talked about earlier).

Well, looks like the big money played us. They successfully wiped out the miners on Thursday, leaving all those retail players who jumped in on the news of Quantitative Easing holding the bag.

If my gut feeling on gold is right, we’re looking at a break past $1,750 next week.

dustyheron5, I hope you didn't sell off your SLW.

I bought back part of what I sold recently... if it dips further, I might pick up the rest.😍

dustyheron5 said:I bought back part of what I sold recently... if it dips further, I might pick up the rest.😍

I was actually talking about a total panic sell-off by those bottom-feeders in Chicago.

quiettrucker12 said:I was actually talking about a total panic sell-off by those bottom-feeders in Chicago.

I don't waste energy worrying about how others act—that was a lifetime ago, back when I was chasing buffalo on the plains.😁

I stopped buying back what I’ve already sold for a profit—unless the price drops significantly past my exit point.

dustyheron5 said:I don't waste energy worrying about how others act—that was a lifetime ago, back when I was chasing buffalo on the plains.😁

I stopped buying back what I’ve already sold for a profit—unless the price drops significantly past my exit point.

I wasn't talking about buying; I meant whether you sold off what you picked up last Monday or Tuesday. Not sure why you're bringing up buying... it's like I'm speaking gibberish here. A completely different topic is whether you were adding to your position in the middle of the week.

quiettrucker12 said:I wasn't talking about buying; I meant whether you sold off what you picked up last Monday or Tuesday. Not sure why you're bringing up buying... it's like I'm speaking gibberish here. A completely different topic is whether you were adding to your position in the middle of the week.

Fair enough... though I already mentioned I'm no day trader—at least not here in the US.😍

My sweet spot is more along the lines of speculating over a three-month window (give or take a month).😁

Alright... judging by the volume, they absolutely crushed the price to shake out the retail crowd (those who jumped in ahead of the QE announcement). They basically wiped out $1-2 billion in mining ETFs through stop-loss triggers and pure panic. It’s funny how much they didn't care about the price difference on Wednesday or Thursday when they know another +30% run is right around the corner.

Just look at the tools the mainstream media uses to manipulate us...

http://www.fgmr.com/falling-gold-dem...medium=twitter

Well, there’s some other news floating around if you care: the Keiser Report
JP Morgan is headed for a crash, which means it might be time to go grab some silver
Jamie Diamond is even predicting silver could hit $500

Twitter really is something else, isn't it?