azazel Posted October 6, 2010 Report Share Posted October 6, 2010 Yeah, I think Jim Sinclair will go down in history as a genius, at least in golds history. I was thinking of getting his leather bound book as it may become quite a collectors item one day. Link to comment Share on other sites More sharing options...
Errol Posted October 6, 2010 Report Share Posted October 6, 2010 Yeah, I think Jim Sinclair will go down in history as a genius, at least in golds history. I was thinking of getting his leather bound book as it may become quite a collectors item one day. I have a copy of this. Well worth it. Link to comment Share on other sites More sharing options...
TrueNorth Posted October 6, 2010 Report Share Posted October 6, 2010 I feel like gold and silver have uncoupled from everything. It's like they are going up unfettered these days. Which is not to say I don't think there will be corrections along the way. But -- I don't know how to say it exactly -- it's like it FEELS different now. I suppose the US promise to print to infinity has ignited the gold (and silver) rocket boosters once and for all. Link to comment Share on other sites More sharing options...
Eiji Posted October 6, 2010 Report Share Posted October 6, 2010 G0ldfinger, what year is the prediction made for that houses will cost just above 50 ounces of gold? Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 6, 2010 Author Report Share Posted October 6, 2010 G0ldfinger, what year is the prediction made for that houses will cost just above 50 ounces of gold? Not sure anyone formulated it exactly that way, but the UK house price in oz gold has been around for around 3 years or so, and the minima of the past are easy to spot. Link to comment Share on other sites More sharing options...
aardvark Posted October 7, 2010 Report Share Posted October 7, 2010 Yeah, I think Jim Sinclair will go down in history as a genius, at least in golds history. I was thinking of getting his leather bound book as it may become quite a collectors item one day. i was thinking about that as well but i can't find the link on his website?? Link to comment Share on other sites More sharing options...
harold bishop Posted October 7, 2010 Report Share Posted October 7, 2010 G0ldfinger, what year is the prediction made for that houses will cost just above 50 ounces of gold? Still one of my favorite charts ! I reckon we're well below the 200 oz level in terms of Sterling priced gold. Heading in the right direction with today's house price news and gold's recent run up. Link to comment Share on other sites More sharing options...
Happy Nihilist Posted October 7, 2010 Report Share Posted October 7, 2010 The big "either / or": are we approaching an intermediate term top in the price of Gold, or are we in the process of breaking out to new all time highs? Here's a technical look. On the one hand there appears to be a bullish cup & handle formation that would project to about the $1,500 level, while on the other hand there appears to be a bearish ascending triangle pattern that suggests an imminent correction. Volume has been dropping off favouring the bearish scenario, but as we all know, a market can stay irrational for a long time. Link to comment Share on other sites More sharing options...
Pixel8r Posted October 7, 2010 Report Share Posted October 7, 2010 The big "either / or": are we approaching an intermediate term top in the price of Gold, or are we in the process of breaking out to new all time highs? Here's a technical look. On the one hand there appears to be a bullish cup & handle formation that would project to about the $1,500 level, while on the other hand there appears to be a bearish ascending triangle pattern that suggests an imminent correction. Volume has been dropping off favouring the bearish scenario, but as we all know, a market can stay irrational for a long time. As you can see by the graph below we have already broken out of the ascending wedge pattern and the cup and handle. Link to comment Share on other sites More sharing options...
duckwomanloulou Posted October 7, 2010 Report Share Posted October 7, 2010 The big "either / or": are we approaching an intermediate term top in the price of Gold, or are we in the process of breaking out to new all time highs? Here's a technical look. On the one hand there appears to be a bullish cup & handle formation that would project to about the $1,500 level, while on the other hand there appears to be a bearish ascending triangle pattern that suggests an imminent correction. Volume has been dropping off favouring the bearish scenario, but as we all know, a market can stay irrational for a long time. DOUBLE POST What time frame do you think will give us an indication of which way that this is going to go? I have a core position but have cash on the sidelines waiting for the crash down scenario but am beginning to think that a pull back is not coming this next month. My buy finger is getting very itchy even tho' we are not far off all time high prices in £!! Link to comment Share on other sites More sharing options...
jinbal Posted October 7, 2010 Report Share Posted October 7, 2010 As you can see by the graph below we have already broken out of the ascending wedge pattern and the cup and handle. I'd really like to see bullish confirmation with a pullback and retest of the ascending upper line of the rising wedge. It would also allow some "steam" to work off. Link to comment Share on other sites More sharing options...
romans holiday Posted October 7, 2010 Report Share Posted October 7, 2010 As you can see by the graph below we have already broken out of the ascending wedge pattern and the cup and handle. The problem with this chart is it's not logarithmic, which distorts the rise. Happy Nihilist's chart is logarithmic. The logarithmic scale better shows the proportionate change in terms of percentage. Link to comment Share on other sites More sharing options...
romans holiday Posted October 7, 2010 Report Share Posted October 7, 2010 Waiting in pounds to buy dollars? The pound price is way more volatile. Think of money as tidal. The tide is now "out" of the central reserve currencies and into riskier ones. On a reversal, when the dollar strengthens and the gold price in dollars consolidates a little..... the pound price of gold would likely go higher. With money being sucked out of the pound, your purchasing currency will be weakening even faster than gold might be against the dollar. The currencies are shifting sands. Link to comment Share on other sites More sharing options...
Pixel8r Posted October 7, 2010 Report Share Posted October 7, 2010 The problem with this chart is it's not logarithmic, which distorts the rise. Happy Nihilist's chart is logarithmic. The logarithmic scale better shows the proportionate change in terms of percentage. The reason I don't do it on the log scale is the goldprice graph doesn't allow you to do lines on a log graph. But just for you I have done them manually. Still shows the same thing, a breakout is a breakout log or otherwise. Link to comment Share on other sites More sharing options...
Happy Nihilist Posted October 7, 2010 Report Share Posted October 7, 2010 Double Post. Uh oh courtesy of the Sydney Morning Herald: http://www.smh.com.au/executive-style/luxu...1007-1690v.html Link to comment Share on other sites More sharing options...
romans holiday Posted October 7, 2010 Report Share Posted October 7, 2010 The reason I don't do it on the log scale is the goldprice graph doesn't allow you to do lines on a log graph. But just for you I have done them manually. Still shows the same thing, a breakout is a breakout log or otherwise. Either that, or it's due a pull-back. Link to comment Share on other sites More sharing options...
warpig Posted October 7, 2010 Report Share Posted October 7, 2010 It is correcting now to some degree. What will be most telling is how quickly it rebounds from here. Either that, or it's due a pull-back. Link to comment Share on other sites More sharing options...
curious1 Posted October 7, 2010 Report Share Posted October 7, 2010 Has our rocket run out of steam? Link to comment Share on other sites More sharing options...
Pixel8r Posted October 7, 2010 Report Share Posted October 7, 2010 It is correcting now to some degree. What will be most telling is how quickly it rebounds from here. We are now at London PM close which is usually where the smackdown stops and the dip buying begins. As JT was saying the dips are being bought when just $10 now. From: http://www.youtube.com/watch?v=lVa4QHr-bEo Also very bullish on KWN; http://kingworldnews.com/kingworldnews/Bro...James_Turk.html Link to comment Share on other sites More sharing options...
romans holiday Posted October 7, 2010 Report Share Posted October 7, 2010 It is correcting now to some degree. What will be most telling is how quickly it rebounds from here. Yep, near $30 correction thus far. With gold becoming an alternative currency, I think the volatility of its price will steady against the reserve currency. If so, it should continue to strengthen along the thin blue line. Link to comment Share on other sites More sharing options...
warpig Posted October 7, 2010 Report Share Posted October 7, 2010 That's exactly what I was thinking, it has the hallmark of a smack down and I'm just curious at what point the market will start buying this dip. Good video by the way, JT is a good ambassador for gold. We are now at London PM close which is usually where the smackdown stops and the dip buying begins. As JT was saying the dips are being bought when just $10 now. Link to comment Share on other sites More sharing options...
Errol Posted October 7, 2010 Report Share Posted October 7, 2010 From high to low you will see multi hundred dollar jumps in both directions before it reaches its fulcrum point. Jim Sinclair - http://jsmineset.com/ Link to comment Share on other sites More sharing options...
azazel Posted October 7, 2010 Report Share Posted October 7, 2010 Bahahaha haha, Im hoping to get Jim his engine for his amphibious vehicle. How cool is that? Link to comment Share on other sites More sharing options...
d2thdr Posted October 7, 2010 Report Share Posted October 7, 2010 Bahahaha haha, Im hoping to get Jim his engine for his amphibious vehicle. How cool is that? Ford Fiesta or Camry? Link to comment Share on other sites More sharing options...
azazel Posted October 7, 2010 Report Share Posted October 7, 2010 Ford Fiesta or Camry? Fiesta, my freind has one, Jim says he will send me the details of what he needs. I will pay for it myself and ask Jim for gold as payment. It will be well cool to own some of Jims gold! I will let you know how I get on, I might even start a thread somewhere, with pictures. Link to comment Share on other sites More sharing options...
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