Jump to content

Gold in AUD


Recommended Posts

  • Replies 244
  • Created
  • Last Reply

Top Posters In This Topic

  • 1 month later...

We have a seller of 30,000 USD1200 CALLS sitting right in front of us.

Those calls EXPIRE ON MONDAY next.



Overnight the Comex OPEN interest rose 2% to 538,700 odd postions in the DECEMBER contract

Those contracts represent around 24 MILLION OUNCES of gold.--or around 670 TONNES of gold.

Comex wharehouse apparantly has ONLY AROUND 200 TONNES in store

The first "notice" day for the December contract is next FRIDAY.


I confess to not properly understanding the Gold futures market--but on the face of it

"The scene is set for a head on collision between the gold SHORTS and the gold LONGS.


"What happens if 670 tonnes are called forward for IMMEDIATE DELIVERY with ONLY 200 tonnes in store"





Consequentialy am taking a gigantic risk here!


The whole PM complex is in a most interesting position--IMHO.


Taking the above current scenario into consideration it is now apparant the Gold is RISING IN ALL CURRENCIES

including the Australian Dollar--so--for the time being we maybe should be looking at the chart of Gold in AUD



I have no patented crystal ball--BUT it would be criminal to not be part of a potential MAJOR MOVE in gold--UPWARDS.


The USD gold chart sais it all regarding potential targets, IF you believe this to be a possibility--then time to have

a look at MOST ASX gold stocks.


CAVEAT EMPTOR----do NOT blame me if my theory GOES PEAR SHAPED!!!!!!!


Link to comment
Share on other sites

Timely post flower. POG rising in all currencies now - AUD POG has decisively broken ~1200 resistance, and not a peep on this board (OK mea culpa as much as anyone else's)!


Just to add to that a chart with the Fibonacci retracement levels is attached for the enjoyment of all. Some key levels stand out.


Link to comment
Share on other sites

K: Its been such a crap investment for so long--not surprising theres no comment.


Please dont get me wrong--right at THIS moment a buy of any ASX gold stock is high risk

but once/if the horse has bolted--etc etc


ASX stock selection MIGHT not be quite so difficult sometime next week, but the time is NOW

to start sorting through those ASX gold stocks--IMHO

Link to comment
Share on other sites

  • 3 weeks later...

Hello, I thought these statistics from a broker's report last month was quite interesting ...

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The rise and rise of gold seems to continue unabated. That is all very well if you are a US dollar based

investor. For an Australian with Australian dollars to invest, one ounce of gold would have cost you USD699 on

14th November last year which at the then exchange rate of 0.6342 would have been an investment of

$1,102.17. That ounce of gold is now worth USD 1,173.50 ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ a 67.9% gainÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦not too bad! However, converting

the sale proceeds back to Australian dollars today at .9244 gives you AUD 1,269.47, a gain of 15.2% on your

investment. BHP over the same period is up 61.8%"

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...