Another GLD Autumn Rally?

Quote from cactiman:

Of course the Fed's QE3 decision is great news for the Gold/Silver uptrends.
New Highs seem very realistic to me now.
Will continue adding to my positions, especially if we get a dip/pullback before too long.
:cool:
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Quote from comintel:

I think it all depends now on whether and when the ECB and China continue with their QE's. The ECB, for example, cannot act until Spain etc. requests help and Spain is trying to avoid doing so as long as possible.

The U.S. alone is only 20% of global money supply.
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If Europe continues with their QE, and the Euro falls against the dollar, will gold start going down?
Or will gold start going up against the Euro?
I have vague memories of it going down there and up here at the same time once before. Or was it the other way around?
:confused:
 
Quote from cactiman:

If Europe continues with their QE, and the Euro falls against the dollar, will gold start going down?
Or will gold start going up against the Euro?
I have vague memories of it going down there and up here at the same time once before. Or was it the other way around?
:confused:
More...

Normally QE would weaken a currency. I agree that, instead, it has been helping the Euro against the dollar recently, because it is viewed as "saving" the Euro from collapse as opposed to just reducing its future value.

Overall, though, I think that QE in Europe and China is needed for Gold to continue up, even though the Euro may also strengthen a little against the dollar in the process. Overall, Gold should rise against both currencies if we get global QE.

If more QE were not needed, Gold would have taken off to new highs already on the basis of Fed action alone if that was all that was needed..
 
Quote from Cereal:

My new metals related positions opened today: (that was August 23rd 2012)

SLW OCT12 Vertical spread
Sold 1 Put of $34 for 1.96
Bought 1 Put of $32 for 1.13
Gross credit received + 0.81

Max Reward: Credit received minus comm
Max Risk: - 119 + comm
BE: 33.19

Objective: Will close position when I can obtain a net result of 80% of initial credit received.
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Just to wrap up here.

RE:SLW OCT12 vertical spread: Closed today 21 Sep buying at 0.09
Result net after comms: + $65.90 Target achieved :)

Wish all trades were as easy as this one went....

Thanks for the support.
 
Quote from cactiman:

If Europe continues with their QE, and the Euro falls against the dollar, will gold start going down?
Or will gold start going up against the Euro?
I have vague memories of it going down there and up here at the same time once before. Or was it the other way around?
:confused:
More...

The for dummies explanation of why Gold and Silver is......:

To ask yourself the Right Question :p

http://www.youtube.com/watch?v=z9MVNinXuxk
 
Quote from Cereal:

Quote from Cereal:

My new metals related positions opened today: (that was August 23rd 2012)

SLW OCT12 Vertical spread
Sold 1 Put of $34 for 1.96
Bought 1 Put of $32 for 1.13
Gross credit received + 0.81

Max Reward: Credit received minus comm
Max Risk: - 119 + comm
BE: 33.19

Objective: Will close position when I can obtain a net result of 80% of initial credit received.
----

Just to wrap up here.

RE:SLW OCT12 vertical spread: Closed today 21 Sep buying at 0.09
Result net after comms: + $65.90 Target achieved :)

Wish all trades were as easy as this one went....

Thanks for the support.
More...


Good tradin'!
:cool:

I added to my GDXJ position today with a February 19 Call.
Will check out that YouTube video, thanks.

http://seekingalpha.com/article/880...e-targeting-all-time-highs?source=marketwatch
 

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