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Posts by "bear"
17 Posts Total by "bear":
3
Posts by Anonymous "bear":
Forming a Descending Triangle (Consolidation right now with lower highs)...1.1650 as support - which just happens to be in line with the 100 day sma.
Weakening USD at the moment and a lot of UK news coming out in the UK session - could drive this pair higher with positive Industrial and Mfg numbers.
You might consider starting a new thread for the voting....it's gotta be a mission of it's own to win :)
Also, I voted 2x's and would like to write an email to the 'shorty' management (those in charge) informing them that their voting system through twitter is horrible...my first vote didn't show up...so, I voted again. And now they are telling us that they won't count double votes??? - sounds like backdoor bs! If their voting system is non-functional, they need to be informed by the voters who take the time to vote...just does not build credibility.
Before you trade or attempt to trade, please realize that it is YOUR JOB to manage your own trading...Ashraf has been solid with his information and his long term prognosis and market overlays are amazingly accurate. Todd's been wrong on a few calls this week to his first call of the year was off - it happens! Use both invaluable resources as a learning tool/mentor and don't flame those who are willing to help you or you'll always be off.
Here is a chart as of Dec 2009
http://en.wikipedia.org/wiki/Gold_reserve
US houses a lot of German Gold also...so the top 2 figures are not entirely correct. Gold is so hard and cumbersome to move making it one of the most difficult 'monetary vehicles' to transport - no joke :) Making it one of the toughest to hedge against inflation or currency depreciation.
At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes[wikipedia s37] and its January 2009 issue, National Geographic magazine writes: "In all of history, only 161,000 tons of gold have been mined, barely enough to fill two Olympic-size swimming pools." This can be represented by a cube with an edge length of about 20.28 meters.
The average gold mining and extraction costs[when?] are US$238/oz[citation needed] but these can vary widely depending on mining type and ore quality. In 2001, global mine production amounted to 2,604 tonnes, or 67% of total gold demand in that year.
Gold is so stable and so valuable that it is always recovered and recycled. There is no true consumption of gold in the economic sense; the stock of gold remains essentially constant while ownership shifts from one party to another.[wikipedia s39]
I'm still waiting for the meteor filled with gold and ice to hit my pool...until then, I work.