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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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asad
London, UK
Posted Anonymously
15 years ago
Apr 9, 2010 17:57
Slaiman,

Gold SHOULD go up if CNY appreciates! The question is WHAT IF they increase interest rates alongwith this appreciation...


Asad
slaiman7
Lebanon
Posts: 31
15 years ago
Apr 9, 2010 17:54
I don't think the chinese revaluing their currency would have a great impact on Gold price.
Let's face it, USD, EUR, GBP, and YEN, have huge problems, and it is not that the USD that is going up, rather other majors are going down. As a result when, aforementioned currencies will go down against commodities and mostly against precious metals.
BUY Gold on the dips!!!
Callum
Singapore, Singapore
Posts: 179
15 years ago
Apr 9, 2010 17:50
Is Gold is going to go up if Chinese appreciate their currency?
slaiman7
Lebanon
Posts: 31
15 years ago
Apr 9, 2010 17:44
I think it would be a bad idea to double short on Gold here. I beleive Gold to keep heading upwards till May, breaking 1225 high.
montmorency
UK
Posted Anonymously
15 years ago
Apr 9, 2010 17:40
@Asad: I tend to agree with your analysis and synthesis, and would tend to do myself that which you recommend. However, what is the advantage in reducing one's short average?
asad
London, UK
Posted Anonymously
15 years ago
Apr 9, 2010 17:15
Callum,

I'm not sure but negative news on precious metals have been doing the rounds for the past week! negative as in the lawsuit filed against JPM for silver manipulation (they allegedly sold silver that they did not own). This is in addition to other items suggesting that PHYSICAL silver is in much lower supply compared to what is being sold on PAPER or ELECTRONICALLY.

Similarly, some analyst (sorry, forgot the name - someone mentioned it on this forum yesterday) gave damning views about gold's physical supply. Further, a news item came yesterday, stating that Bank of Nova Scotia and the other Scotia bank were being investigated for NOT having physical gold to back their funds (or s/thing similar).

The remaining increase in price today could be explained by USD's weakness against the EUR, which, ofcourse, makes gold relatively cheaper, & better, to hold.

Whew!

If it is news that's driving gold up...then it's the same which would bring it down! My first instinct, if In were in your position - some would crucify my for this - would be to short RIGHT HERE to cut across my 1130 short...and in doing so reduce my short average to 1145 (i.e. if you have the will and finances to hold).

Hope this helps...


Asad
Callum
Singapore, Singapore
Posts: 179
15 years ago
Apr 9, 2010 17:03
Gold breaks 1160, does this now open up towards the 1220 given it taken out??

I am short around 1130 levels so just wondering if anyone could share views on whether to keep or cut-loss now.

Anyone know what's behind these big Gold moves?
asad
London, UK
Posted Anonymously
15 years ago
Apr 9, 2010 16:54
Ashraf,

Here goes my inter-market learning for the year... *ahem ahem*

EUR is weakening the USD, which in turn is strengthening gold & equities. Correct?

But why is oil sliding? Not that I'm complaining... :p


Asad
sydneyjames
Sydney, Australia
Posts: 348
15 years ago
Apr 9, 2010 16:53
Hi ashraf, so where do you think the gold will stop rally? will it reach 1200 again?
chloethebull
Posted Anonymously
15 years ago
Apr 9, 2010 16:46
i know there correl...look @ there charts oil tanking usdcad goinn sideways....usdcad should be moving up ..thanks gl
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