Next Level: GOLD $1,350.00

Currently: in Asian markets at the opening...

GOLD @ $1,111/oz.
Silver @ $17.39/oz.
Platinum @ $1,629/oz.
Palladium @ $477/oz.

 

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Well, gold's been doing the $1100 dance for some time now so I am starting to believe gold's at its peak, though I am not wholly convinced.

My reasoning as follows: With recent discussions to slap miners with royalties in my home state (NV, which is also responsible for 80% of US gold production), something they've never had to endure before, there could be a serious lull in the gold action. Sure, the royalties will be responsible for a temporary spike if and when they do hit, but the long term effect will be reduced demand and thus, reduced prices. Bear in mind, the reduced demand I speak of is assumed due to my perception that $1100 is the current ceiling and that there is very little appetite for higher costs which would decrease demand.

All other economic indicators speaks towards a thaw in the economy. Even hard hit states like NV, MI, etc. are seeing some signs, albeit very small signs, of "green shoots" on which the economy could get a foothold and grow.

I am going to watch things very closely here over the next few months and if the NV miners have to start coughing up royalties, I may just pull the trigger and liquidate all of my non-numismatic silver and gold, give prices some time to get back to the $600-$800 range and hop back on the train.

 

Currently: in Asian markets

GOLD @ $1,109.90/oz.
Silver @ $17.38/oz.
Platinum @ $1,622/oz.
Palladium @ $477/oz.

 

Currently: in EU/UK markets...

GOLD @ $1,111.20/oz.
Silver @ $17.42/oz.
Platinum @ $1,629/oz.
Palladium @ $478/oz.


US markets opening within the hour...

 

Currently: after the US market opening...

GOLD @ $1,109.70/oz.
Silver @ $17.37/oz.
Platinum @ $1,628/oz.
Palladium @ $477/oz.

 

Currently:

GOLD @ $1,105.20/oz. High $1,111.60/oz.
Silver @ $17.35/oz. High $17.41/oz.
Platinum @ $1,628/oz.
Palladium @ $474/oz.

It's been a slow, mushy day...

3-7" of rain up the east coast will do that to you, at least the worms aren't out smelling up the sidewalks yet this season. :goofer:

 

Ni hoow lim low! just kidding

 

I think the royalties on miners are bullish for gold [the metal, not the stocks]. It might have the effect of lowering the supplies of new gold coming to market, which would support the price, not depress it. And the recent pullback and support in the 1100 region looks more like a continuation pattern than a top. If you view the attached chart of GLD [as a proxy for gold] you can see that this has happened several times before in the gold bull market.

http://finance.yahoo.com/q/ta?s=GLD&t=my&l=on&z=m&q=l&p=&a=&c=

 

My girlfriend is a WHAT?!!! :vanish:

 

She's the bomb! All the ladies are gold(en)... :hammer:

Currently: in Asian markets at the Wednesday opening...

GOLD @ $1,105.10/oz.
Silver @ $17.31/oz.
Platinum @ $1,623/oz.
Palladium @ $474/oz.

 

Currently: in Asian markets

GOLD @ $1,107.40/oz.
Silver @ $17.35/oz.
Platinum @ $1,634/oz.
Palladium @ $476/oz.

 

Thank you Krispy.

Yes. Your thoughtful response makes sense to me. It seems money is always getting evaporated in one direction or another (repairs, medical, etc). This is why when I get my hands on a few hundred bucks, I just buy what ever I can get my hands on.

For some reason I have been leaning toward my numis set building this year. Previous 6-12 months is was pre-1933 5 dollar gold pieces and gold bullion; and wheat cents. The year or so before it was silver, mostly junk silver and Silver Bullion (ASE, CML, Phils) at about 14.00/oz.

 

Currently: at the US market opening...

GOLD @ $1,113.40/oz.High $1,115.40
Silver @ $17.51/oz. High $17.57
Platinum @ $1,651/oz.
Palladium @ $483/oz.

 

gold high - $1,119.40/oz.

 

Currently:

GOLD @ $1,118.90/oz. High $1,119.40
Silver @ $17.59/oz. High $17.64
Platinum @ $1,653/oz.
Palladium @ $483/oz.

 

Currently:

GOLD @ $1,115.60/oz. High $1,119.40
Silver @ $17.58/oz. High $17.65
Platinum @ $1,648/oz.
Palladium @ $483/oz.

 

gold high - $1,126.10/oz
silver high - $17.97/oz

new this year high for platinum and palladium.
platinum $1,672.00/oz - asia or europe
palladium - $496.00/oz - asia or europe

 

Currently:

GOLD @ $1,125.50/oz. High $1,126.10
Silver @ $17.95/oz. High $17.96
Platinum @ $1,667/oz.
Palladium @ $495/oz.

 

Currently: US Market at the closing...

GOLD @ $1,127.40/oz. High $1,129.30
Silver @ $17.94/oz. High $18.01
Platinum @ $1,673/oz.
Palladium @ $495/oz.

 

I think we may be in a channel (up or down is possible). The door might still be open for topics related to manipulation (ref: GATA org). Hence, a shortterm drop is likely in my opinion, but it will probabley be a very short window of drop.

This gold bug thinks 1300 gold is closer than 1000 gold.