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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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rrose
United States
Posted Anonymously
14 years ago
Mar 23, 2010 15:54
going short gold
asad
London, UK
Posted Anonymously
14 years ago
Mar 23, 2010 14:04
Gunjack,

China would be an overdose...though the region has been tightening up recently. India, Australia & Malaysia have. India is due to hike a bit more in a month's time (when the REAL RBI meeting takes place).

Yesterday's oil movement, I think, had more to do w/ the reshuffling of money across asset classes than the India interest rate (which had already been absorbed into the market last week). But let's see. Interesting week ahead.

Investors are short, I believe...so they may as well take us for a long ride...


Asad
asad
London, UK
Posted Anonymously
14 years ago
Mar 23, 2010 13:59
Chloe,

Doubt oil would be moving higher (though Goldman knows best)! At least not fundamentally. The fact that the Dow is STRUGGLING to BARELY make a move higher suggests that equities are 'Fed-up' & need a breather...so the money would shift towards the USD.

Another reason for the shift towards the USD is the weakening of the Euro, thanks to the Greek drama. W/ NO bailout agreement in sight, it's the USD which should come out strongly.

Finally, WHAT'S the impetus for stocks & commodities to move any higher...?? (caveat: Goldman knows best).


Asad
klevera
seoul, Korea Sout
Posts: 51
14 years ago
Mar 23, 2010 11:22
Gold and Silver are making almost the same price movement like yesterday. The question is whether they are going to bottom up at some point or not. I think silver is getting hard time breaking 50(SMA), which is 16.82. When it breaks the line, there is no support until 16.21.
Himo
Beirut, Lebanon
Posts: 64
14 years ago
Mar 23, 2010 10:46
Ashraf what do you think about gold? is it still going down??
Gunjack
London, UK
Posts: 1184
14 years ago
Mar 23, 2010 10:15
For once I agree with you asad...Crude has been moving up recently due to USD weakness, though rate tightening by India did cause it to swing violently y/day. Wonder what would happen if China decided to follow suit and raise their rates....then it really would be adios commodities!!!
rrose
United States
Posted Anonymously
14 years ago
Mar 23, 2010 0:06
could you make it to 1115
chloethebull
Posted Anonymously
14 years ago
Mar 23, 2010 0:03
@asad..i opened up new short position @81.35 but will add again as we move up..i think i played my gold short wrong today never covered an im thinkn now i should have @1093.5..i was suprised at how s&p moved up off 1153...one thing i noticed was gold is slowly moving down just hope we make lower lows tomor..gl
asad
London, UK
Posted Anonymously
14 years ago
Mar 22, 2010 23:38
Chloe,

Simple. Because USD dropped...and oil being priced in USD, increased. As a principle, whenever the USD is weak, commodities (& indices) are strong...and vice versa. So you can say that oil's strength isn't innate - it is only USD-propelled!

Nothing on the Iran/Israel front. I'm opening another short now - around 81.70 - as I'm expecting oil to retreat tomorrow...


Asad
rrose
United States
Posted Anonymously
14 years ago
Mar 22, 2010 19:33
for now i am still long from friday 1100 we will see anybody have something to add to this
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