Bye Bye Gold Nonsense

[J. J.]

Gold @ 1821.10, down 13.10.  Again, it is not closing below -5% off the pre-correction high.

[J. J.]

So you're saying Gold is plateauing and in the future a median around this range will be used as the "average?"  Because that's the gist I'm getting from your posts.

I got the answer; it's still in correction.

Gold prices are finally moving below the -5% PrCH number.  There is a strong sell off today.

[J. J.]

Gold @ 1789.80, down 31.30.  The price has finally broken through the -5% of PrCH level.  Gold is stable but still in correction.

[Yelnoc]

Were you just on Fast Money?  Because they had an analyst from such and such on who pretty much parroted your past few posts correlating the current trends to those in the early 80's.

[J. J.]

Were you just on Fast Money?  Because they had an analyst from such and such on who pretty much parroted your past few posts correlating the current trends to those in the early 80's.

No.    I just:

A.  Remember most of it.

B.  Know how to google.

A few months ago, I told Memphis he was right, but at the wrong time.  I though we were just entering one; now I think I might have been wrong.  I think we'll see a bubble, but we are not yet in it.  It will be nasty (and not good for the economy nor ultimately good to invest in long term).

[J. J.]

Gold @ 1812.50, up 22.70.  It is back above the -5% of PrCH line.  This is a really narrow range.

[J. J.]

Gold @ 1778.50, down 34.00. 

[Beet]

Gold price lost $100 in one session yesterday

Gold price has dropped more than $100 Friday facing the U.S. dollar rally and rumors of liquidation of positions by large hedge funds.
Silver, which attracted even more speculation over the past year, dropped by 18%, its biggest drop since 1987.

[opebo]

Inflation hedges don't do well in a deep dark deflation.  Listen to uncle opebo.

[Beet]

Well here's the critical piece.

"The CME Group, which runs the the New York Mercantile Exchange, on Friday raised the margin on Comex gold futures by 21.48 percent and the margin on Comex silver margins by 15.63 percent."

http://www.ibtimes.com/articles/219092/20110923/gold-cme-comex-margin-silver.htm

Remember, earlier this year silver crashed when Comex raised margin requirements as well. At this point, anyone who says the commodities boom isn't being driven partly by speculation is insane.

[J. J.]

Well here's the critical piece.

"The CME Group, which runs the the New York Mercantile Exchange, on Friday raised the margin on Comex gold futures by 21.48 percent and the margin on Comex silver margins by 15.63 percent."

http://www.ibtimes.com/articles/219092/20110923/gold-cme-comex-margin-silver.htm

Remember, earlier this year silver crashed when Comex raised margin requirements as well. At this point, anyone who says the commodities boom isn't being driven partly by speculation is insane.

It is obviously not inflation, but it's not behaving like a bubble either.  It has been, at worst 15.5% off the high.

Gold @ 1616.90, +6.20.

[J. J.]

Gold @ 1624.80, up 8.90. 

In the short term (less than a year) this might a buying opportunity.

[J. J.]

Gold @ 1660.90, up 36.10.  It might be time to watch for upward movement.

[J. J.]

Gold @ 1624.20, down 36.70.  It is just below 15% of PrCH.  I'm looking for an upswing.

[J. J.]

Gold @ 1642.60, up 18.40.  Gold has traditionally been higher than the rarer platinum, until the last six weeks.  Platinum is at 1487.00.

[J. J.]

Gold @ 1650.30, up 7.70.  It is still out performing platinum and about 13.5% off the PrCH.

[Napoleon]

Thanks JJ

[J. J.]

Gold @ 1675.90, up 37.20.  It is now at off just under 12% of the PrCH.

Gold is about $150 per Troy Ounce above platinum; that is interesting.  Possibly excepting a few days at the absolute height of the 1980 gold bubble, platinum has never been lower than gold.

[memphis]

Bump. Now lower than it's been in 6 months and almost 20% below peak. Who ever could have foreseen?

[J. J.]

Bump. Now lower than it's been in 6 months and almost 20% below peak. Who ever could have foreseen?

Off about $250 from my projected closing on this date.

I think a number of us were saying "The gold, the gold is too damn high," when it was hitting $1,900.

It is up about 10% from the last day close in 2010.

[t_host1]

 Gold been bumping to brake down thru 1700 for while; for the majority a 4 year 50% decline in all commodities would be a good thing, especially if the east coast expects to rebuild.
 A prosperous union (the Republic), decertified labor unions and a pair down equity & commodity market are the only chance of a US period of rehab, 10 - 30 years worth. I would like to think that claw backs and the closing of the 0% Fed. Window will become initiated Nov. 7, 2012. Claw backs, Convictions and the Closing of the 0% Fed window would be better; however, I’d be willing in spirit of new cooperation give the corrupted a chance to return their spoils, + 40%.
 Collection to titled converted currency of $T’s plus 40% (the 40% would be of the equity and commodity transfer) would then pay off all foreign sovereigns’ and US treasurer debts. The Federal Reserve Bank owners will become advised to the available defense too their worth existence. The Federal Reserve Bank is not a constitutionally derived entity, yet, conceived by constitutionally achieved officials that have out lived the republics’ self interest.         

[opebo]

How is it he knows what a 'claw back' is and yet can't write intelligibly?  It is interesting - from the writing you would think him a mental patient, but I looked up 'claw backs' and it is something in the 'financial world' (I hadn't heard of it).  Perhaps it is a madhouse over there.

[they don't love you like i love you]

LOL: http://www.jmbullion.com/charts/gold-price

J. J. and those Paulite types sure look ridiculous now.

[Hillary pays minimum wage]

An ideal society uses only gold.

[Ebsy]

An ideal society uses only gold.

Tell us more.