Posted on August 11, 2009 by baabaapreciousmetals
This is hard to ignore, when USD gets some upside and USPOG slumps and hits perfectly the 50MA (low) and closes right on the rising mid-trendline. Clearly USPOG is showing further weakness here after having failed on numerous rallies since the all time $1033 high. You’ve got to factor in a potential for at least $930 and under that, the recent low of $865. Alternatively, a rally above $971 would signal $990, though IMHO less likely.
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Posted on July 25, 2009 by baabaapreciousmetals
I’m always wary of a rising DOW and rising USPOG; it’s a sign of excess USD money in the system looking for a home, confirmed by continued falling USD as it devalues. Right now though, USPOG has a toppy look about it, turning over perhaps. Downside should be a small decline back to the 50MA and anotehr shot upwards to again try for $1000. Continued decline in USD will help this along and there’s plenty to suggest USD is staring into an abyss. Will humungous vested interests be enough to prop up USD? Probably.
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Posted on July 25, 2009 by baabaapreciousmetals
Gold in $NZD continues working it’s way into the thin end of a large wedge formation, moving sideways in a very narrow price range, caught between the forex effect of a falling USD, rising NZD and rising $US Gold price (USPOG). This is NOT price action, this is a sleeping tonic. Yawn.
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Posted on June 30, 2009 by baabaapreciousmetals
Posted on June 30, 2009 by baabaapreciousmetals
Richard Russell says “The way the world is going, ‘gold will be the last man standing.’ Gold will be wanted because unlike everything else, gold cannot go bankrupt. Gold has no debt against it, gold is not the product of some nation’s central bank. Gold is pure intrinsic wealth. It needs no nation to guarantee it. Gold is outside the paper system.”
Check out his whole article here
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Posted on June 30, 2009 by baabaapreciousmetals
Brad Zigler writes “Fundamental analysis uses economic, political and environmental data to forecast future price movements, while technically derived predictions rely upon price patterns and changes in market volume. Commodity traders often use “the technicals” as well as fundamentals when making market decisions.”
Check out the rest of his article here
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Posted on June 30, 2009 by baabaapreciousmetals
From Seeking Alpha “Warren Buffett doesn’t see the “green shoots” Ben Bernanke and other bullish investors have spoken of in recent months. In fact, the billionaire investor believes the economic picture will grow darker before things improve.
“Everything I see about the economy is that we have had no bounce,” Buffett told”
click here for the whole article
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Posted on June 30, 2009 by baabaapreciousmetals
Posted on June 28, 2009 by baabaapreciousmetals
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Posted on June 26, 2009 by baabaapreciousmetals
Fancy that, I was browsing around and found Mish, and he has this article he wrote. Of the three reason given, I think 3) is compelling because it is about a buyer of the IMF’s gold … you guessed it, Mish thinks China too. Nice one Mish.
http://globaleconomicanalysis.blogspot.com/2009/06/us-approves-imf-gold-sales-what-does-it.html
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