China buys IMF GOLD!!!!!!!

[Mega]

Go on my son, jump in there!
http://english.pravda.ru/business/fi...9-china_gold-0

Mike

[gnk]

Re: China buys IMF GOLD!!!!!!!

Hold up!!!

India may want some too!

http://www.business24-7.ae/Articles/...f515ff915.aspx


I think the central banks of emerging markets/powers were playing it a little too cool lately. Like when you're at a pub, and a fit bird looks at you from across the room. You gotta have game, you can't show desperation, you know?

I'm waiting to read from Western sources for confirmation.

[grapejelly]

Re: China buys IMF GOLD!!!!!!!

as of 9:48am Eastern time, the gold market doesn't believe this story.

[gnk]

Re: China buys IMF GOLD!!!!!!!

as of 9:48am Eastern time, the gold market doesn't believe this story.

I bought some more anyway. Long term, any price under 1100 is a decent buy.

[grapejelly]

Re: China buys IMF GOLD!!!!!!!

there is now a big bar printing on the chart...10:07am eastern

[globaleconomicollaps]

Re: China buys IMF GOLD!!!!!!!

what is doing on here is this:

for the last several months gold and the euro have moved together. Starting on feb 8 the relationship split. gold moved higher and the euro continued down. I put this down to a move into gold by panicky Greek investors. Now the relationship is back to moving together:

I think the euro will move to 1.30 and gold will follow back to 1080-1050 range

[gnk]

Re: China buys IMF GOLD!!!!!!!

what is doing on here is this:

for the last several months gold and the euro have moved together. Starting on feb 8 the relationship split. gold moved higher and the euro continued down. I put this down to a move into gold by panicky Greek investors. Now the relationship is back to moving together:

I think the euro will move to 1.30 and gold will follow back to 1080-1050 range

I don't know about panicky greeks buying gold... what they are doing is sending their money abroad - particularly banks in Cyprus. They're still in Euros. Gold has been hitting support roughly at 1090 a few times now. And the Euro issue has barely started IMHO.

[globaleconomicollaps]

Re: China buys IMF GOLD!!!!!!!

I don't know about panicky greeks buying gold... what they are doing is sending their money abroad - particularly banks in Cyprus. They're still in Euros. Gold has been hitting support roughly at 1090 a few times now. And the Euro issue has barely started IMHO.

check this out:
http://www.zerohedge.com/article/mee...lar-coincident

[Starving Steve]

Re: China buys IMF GOLD!!!!!!!

Bear markets always give late-comers buying opportunities which turn-out to be sucker price levels (bull traps). A sucker buy is a buying op followed by an extensive period of drift, then a sell-off to a new lower price level. Bull markets give late-comers buying ops only at outrageous price levels. Each spike in the bull market gets higher, and each dip gets higher too. The hallmark of a bull market is enthusiasm and energy, there are no extensive drift periods.

These are part of Starving Steve's rules of the chart, and gold always follows the chart. Bull markets always have solid fundamentals supporting technical moves, but fundamentals only become clear well after a bull market has begun. The converse is also true: bear markets have supporting fundamentals which only become manifest to the public late in a bear run.

The moves of late in the gold market appear to be bearish. So we will have constant buying and bull traps, followed by drift and disappointment, and then a sell down to new lows. We need a real shocker, a new convincing top in gold to negate the bear case.:rolleyes:

[unlucky]

Re: China buys IMF GOLD!!!!!!!

I would imagine that people who borrowed dollars to buy euro have been reversing their bets. And a lot of folks who were long euros but NOT short dollars have been fleeing to hard assets.

So we see a rising dollar and rising gold.

Traditionally the dollar has been the more important factor for gold. My guess is, after this is over we will see the next leg down for the dollar and gold will rocket. There won't be many trying to exploit the "strong euro" anymore :p

All those "trade the euro" ads we see will change to "trade GOLD".