Anglo Asian Mining Share Discussion Threads

[crazycoops] 05/10/2016 12:45

The POG under pressure and AAZ rising - nice!

[mattjos] 05/10/2016 12:19

all this paper manipulation just plays into the hands of China & Russia who continue to buy & hold the physical and, as far as we know, generally shun the paper market.
The Yanks might make short term trading gains but, in the longer run, they are doing themselves and their own country a disservice

[pixi] 05/10/2016 11:42

The fundamental case for buying gold and silver has not changed. They can dump as much worthless paper onto the market as they want to hammer the price of gold down. It's only a temporary thing. I have topped up here, bought a load of gold bullion and topped up my Way Charteris Gold Fund this morning.

I don't think a rise in interest rates is on the cards with weak growth. I expect the exact opposite to happen with rates trending negative worldwide.

[mattjos] 04/10/2016 21:52

From a charting perspective, quite happy to see gold fall towards 3rd week of October.With regards AAZ, no need for this to tear away just yet .. it's clearly signalled it's intent this week but, as YasX has hilited, a retest of the wedge is not at all unusual so, quite happy to lay in wait for that to take place. We may be lucky enough to see it near 15 one last time!

[andrewsr] 04/10/2016 21:45

That was a few months ago, must have been at about $1340 or higher.



It should have been a good day for gold with the IMF downgrading growth for US and other advanced economies (ft), and strange things afoot (courtesy of chip on mml):

[mattjos] 04/10/2016 20:57

All part of the game jeansey .. grin and bear it this week and see where we end up end next week.I note Mr. Odey had just gone all in on gold

[jeanesy] 04/10/2016 20:44

Just when things start to look up.. then bang goes POG down 42 dollars !!

[cast_no_shadow] 04/10/2016 19:34

Also they waited till the Chinese were away as their markets are closed this week which helped them pull this off. It happens every year and no one is held accountable. Unbelievable. Chinese will be back buying on Sunday, might be worth a little trade if you have balls.

[jbe81] 04/10/2016 19:19

Average prices for the quarter taken from chip's thread
Gold:
1Q = $1,190/oz
2Q = $1,268/oz (+6.5%)
3Q = $1,334/oz (+5.2%)

Silver:
1Q = $14.95/oz
2Q = $17.08/oz (+14.2%)
3Q = $19.58/oz (+14.6%)

[cast_no_shadow] 04/10/2016 16:51

Seriously there is no point trying to reason the short term movements in the gold price. Nothing has fundamentally changed.

Like I said it pretty much follows the dollar yen as a carry trade and unfortunately the dollar yen didn't break 100 and is now rising sharply hence the drop in gold it really is that simple.

Add to that the fact that gold was pummelled by the commercials after the recent (lack of) September rate hike decision to prevent it reaching new highs for the move and force it under its 50 day and 100 day.

So instead of a drop from say £1,380 its dropped from a much lower level and broke support at $1,300, hence the big drop today.

It's such a sham, criminal market but unfortunately the paper derivative scheme is the current way gold is priced and we have to live with it.

[zhockey] 04/10/2016 16:36

It looks like a premeditated move to me, motive is questionable.

[highly geared] 04/10/2016 16:34

China markets shut this week so a good opportunity to drive the price down

[mattjos] 04/10/2016 16:09

odd ... A December rate hike looks most likely and has done so for some time so, why the big gold over-reaction today?
The Dow is all over the place.

[jbravo2] 04/10/2016 15:36

Seems like a chance to get more shares cheaper than you could after this mornings buying. I'll bet supply is thin though.
If someone comes in for another 150k as they did today and yesterday then the selling hasn't been large enough to meet the demand without going above this mornings price.

[zhockey] 04/10/2016 15:25

Rate hikes are irrelevent in my my view, I mean look what the last one did for gold! The problem is the perception of rate hikes which are driving traders. Coupled with Hillary now being a shoe horn for the whitehouse the picture for gold short term is fairly grim. NFP on friday could shake everything up of course.

[celeritas] 04/10/2016 15:13

AAZ could have gone up a lot further when gold was higher but decided not to take part. I think news is coming hence why it moved when gold has really gone no-where for months

[mattjos] 04/10/2016 15:10

meanwhile Australia has just cut, India has just cut, UK about to cut.
USA will not be able to act without regard for what is happening in the rest of the world & the effect of their proposed tightening.

Everything continues to point towards November as the main decision time for the price of gold .. be that interest rate rise and/or result of USA election .. between now and then this looks like noise to me

[bsg] 04/10/2016 15:08

It is a 50% increase in interest rates.

[mattjos] 04/10/2016 15:02

all this over a possible 0.25% rate hike in the USA .. meanwhile 40m Russians are planning for war with USA!

[bsg] 04/10/2016 14:47

Not good timing ...

[zhockey] 04/10/2016 14:43

Gold has looked weak for some time, I cannot see the rationale for near term break-outs that folks on hear have been talking about. We will have to see where demand is once the 200sma is touched.

[cyberbub] 04/10/2016 14:38

Hmm gold being bashed down further by the Yanks? :-(

[scottishfield] 04/10/2016 12:12

Tks Mattjos