Beiträge von Eldorado

    Goldinvest


    Ich denke mal das ein Nein in den jetzigen Wechselkurs schon eingebaut ist.
    Warum soll der Dax stark abfallen, es waere doch gut fuer alle die exportieren. Auch dort ist das Nein mit einbebaut. IMHO
    Die Handelsbilanz der Amis waere dann noch schlechter als zuvor.
    Man wird es nicht zulassen das die EU auseinander bricht,die soll ja noch in der Zukunft bis Nordafrika gehen. :D
    Nach der Tuerkei und eventuell Nordafrika bricht sie erst auseinander.
    Man wird durch irgend einen Trick ein knappes Ja bekommen ist meine Vermutung.....warten wir mal ab. ;)


    Friday, May 27, 2005, 4:32:00 PM EST


    Gold and Dollar Market Summary
    Author: Jim Sinclair


    Dear CIGA:


    This weekend’s EU referendum is the primary if not only focus of currency markets. Present indications point to 53% of French voters saying no to the EU Constitution. The euro is down from the range of 1.35 to 1.25.


    Some speculate that this is enough, but we know that markets can easily overreact to any event.
    Predicting what the French will do even from polls is risky at best. Without a doubt, either a yes or no vote will impact currency markets but not change in any manner the fundamental condition of the US dollar.


    The idea that the US economic situation is going to outperform the EU by index to index comparison is the flavor of the month for currency valuation but the Current Account performance is infinitely more important.


    You might recall the economic analogy about the US economic recovery being the aircraft that will lift all other economies with it. The question was not if the take off would occur but rather what the landing would look like. If, indeed, the US has lifted world economies and is now running out of steam that slowdown should impact the EU first.


    We are seeing good economic reports one day and bad the next. This occurred today again. That is the sign of a weakening of the momentum of the recovery, a key ingredient to tax revenues and therefore the US Federal budget where expenses are high and going higher.


    If the French vote no it will only accelerate the EU business slow down. That hurts US exports.


    European Economies: French Confidence Drops in May (Update2)


    May 27 (Bloomberg) -- Manufacturers' confidence in France, Europe's third-largest economy, unexpectedly fell to a 19-month low in May as companies including PSA Peugeot Citroen grappled with higher raw-material costs and a worsening economic outlook.


    An index measuring sentiment among 2,000 manufacturers fell to 96 from 97 in April, statistics office Insee said in Paris today. Economists expected an increase to 98, according to the median estimate of 26 in a Bloomberg survey.


    Concern about a weakening economy and rising unemployment have contributed to a decline in support for President Jacques Chirac and mounting opposition to the European Union constitution before a referendum May 29, polls show. Some 13,500 jobs have been lost in France since Chirac was re-elected in 2002, pushing the unemployment rate to a five-year high of 10.2 percent in March.

    mucho oro Goldinvest


    Ich glaube Mahendra vergisst die Fundamentals und heavy resistance
    Level dabei die wie wavebreaker da stehen.
    Viele haben noch Angst wie damals als Droppy bei 0.60 USD war und trauen sich nicht.
    100% war Mahendra noch nie, manchmal aber zu 90%.
    Mit allen Respekt zu ihm aber er wechselt mir zu oft die meinung und verschiebt die Torstangen zu oft in letzter Zeit.
    Auch die Memberfees gehen rauf wie noch was seit dem er im sunny California lebt. :)) Werde nicht mehr verlaengern,steht eh spaeter in der Webseite zum Teil.
    Typisch Inder wenn er reicher dabei wird, sage ich nur. :D
    Die Mehrheit seiner Kunden sind nun Currency Dealer. Einen Mutual Fund will er aufmachen,moechtest du bei ihm anlegen ? :D.
    Sein Forum ist zu, habe auch dort geschrieben.
    Kritik vertragt er nicht,habe mich oftmals geaergert und mit ihm einige emails getauscht. Wenn seine Intuition mit meiner matched, ok !
    Ueber HUI oder GM redet er gar nicht mehr viel, er weiss warum. :D
    Er ist nur eine Richtlinie/Indikator, alle unsichtbaren Wellen kann er auch nicht sehen. I
    Ich schau da auch gleichzeitig auf meine Charts und vergleiche das mit anderen Meinungen in der Media.
    Was meinst du was die Chinesen, Inder oder Japaner machen mit ihren vielen Fiat $$ wenn Gold unter 400 faellt. Klar, kaufen wie irre ! :D
    Wohin mit dem Scheiss wo es nun so viel wert ist ?(
    In tangibles while you can !!!! :P


    Silber bietet momentan den besten Schutz.


    Woher erklaerst du Dir nun den Anstieg bei den GM's ?
    Ist das nun eine sucker rally ? Sollte keine rally sein wenn gold unter 400 fallen soll, oder ??


    Geht das nun alles umgekehrt oder ist das nur ein Ausgleich GM/POG ?
    Die Aktien waren ja unterbewertet in den letzten 8 Wochen.


    Lassen wir uns mal ueberraschen, es wird sicher spannend in den naechsten Wochen. (Expect the unexpected) ;)


    The fat Lady will sing sooner or later.


    ..........................................
    Die EU ist so oder so ein Fehlschlag bei den offenen Grenzen und raub der Autonomie der einzelnen Staaten. Klar motzen die nun wenn der Guertel enger geschnallt werden muss. Nach dem Fall vom Dollar, kommt der Euro dran, erstmal den Dollar stuetzen fuer kurze zeit aber nur falls es so kommt wie du sagst.
    Kurz zum manipulieren um Gold und deren Aktien weiter zu kassieren ! :D .... Alles ist ein Beschiss !!!!!!


    Ciao, over and out..


    XEX

    GO GATA!!!


    Could the set up for gold get any more bullish, at the same time when everyone is so bearish? Why:


    One: The gold/silver shares are on a tear, ending an 18-month bear market. 8o


    Two: Silver has broken out decisively. :))


    Three: Commodity prices are on the move again with crude oil closer to staring at $60 per barrel rather than at $40 per barrel as predicted by many on Planet Wall Street. It finished today at $51.85, up 84 cents per barrel. :rolleyes:


    Four: The dollar reversed course, falling against all the major currencies. :rolleyes:It closed at 86.41, down .61. The euro rose to 125.79, up .61.
    It would seem a "NO" French vote has been fully factored into the euro.


    Five: the cash market is on fire (see JB).


    Six: The Gold Cartel is running for the hills at these price levels. :D


    Seven: Most gold pundits are bearish and out of the bullion and share market. Most of the rest of the investment world doesn’t even have gold on its radar screen. :D


    Finally, a change :)) in the gold trading pattern. With silver and the shares moving up smartly, pitiful gold was only 20 cents higher going into the last half hour of trading in the shortened Comex trading session. The funds continued to sell and sell instead of rolling over long positions. When that selling dried up, gold rose in a vacuum. Still, it only finished less than $2 higher on the day and only 70 cents higher than the AM Fix of $418.60.


    The catalyst for the late gold pop had to be the stunning drop in Comex open interest. It fell a whopping 14,979 contracts to 258,409. As MIDAS has been reporting, the funds have been blowing out of their longs, rather than rolling over their long positions from June into August.


    What we have now is one of the most dramatic set-ups for gold to explode that I have ever seen. The Comex spec longs are long gone for the most part (as compared to normal) and most all the gold pundits are bearish. Meanwhile, The Gold Cartel has been covering their shorts below $420 like madmen. Once again they have maneuvered the market in such a way to get the sheeple funds to pitch their spec buy positions, right at a time when they should be loading the boat.


    Clearly a number of other would-be futures buyers are waiting for the French vote this weekend on the Euro Constitution before they enter the fray on the long side. Based on the currency action today, a "NO" vote is already in the market. Surely, this is another reason the cabal crowd covered their shorts this week in droves.


    The COT gold report showed the commercials adding 10,552 new longs and cutting back 8,846 shorts. The change in makeup of the gold market over the past month has been dramatic and doesn’t even include yesterday’s monstrous spec liquidation. The Gold Cartel accomplished their mission and now has plenty of selling ammo once gold starts back up again. One of these days they are going to get blown out of the water. Might as well be this summer.


    Silver finally did it :P– breaking out of its massive wedge formation to the upside. Sure seems like it wants to Rock N’ Roll from here. :D

    The yuan was is the news again this morning. The Chinese said they would not revalue.


    Who knows what the yuan should sell for?


    The answer is "no one." :D The remarkable thing is that so many Americans have opinions about it. China can set its exchange rate anywhere it wants. If it sets the rate too high, its products will be too pricey for Americans to buy. If it sets the rate too low, it will be able to sell...but it could lose money on each sale.


    Americans must think that the magic of currency adjustments can help them get rich...and think they know better than the Chinese monetary authorities what the dollar exchange rate of the yuan should be. But we look on the editorial page of the International Herald Tribune and we find opinions on all sorts of thing – things far away physically, and even more remote in theory.


    Over the last week or so, we have put forward a hypothesis. It explains everything and nothing at very same time.


    No sparrow can fall anywhere in the world without Americans thinking they need an opinion about it. This is because, we believe, between the years 1917 and 1971 – almost unnoticed at the time – the U.S. took on imperial responsibilities and imperial attitudes. X( When that change occurred it transformed America’s role in the world, the way it was run at home, and the views Americans had about themselves and the world they lived in. For example, they felt obliged not only to read about dreary events on the other side of the world -- but to have an opinion about them. The shift to an imperial stance – taking over from Britain at the end of WWI – defined modern American society and government.


    Americans came to see their system, their government, their society and their economy not as innovations that suited them now, but as universal constants, superior to all others for all time; they then came to believe the world would be a better place if others were to do as they had done; they believed others wanted to be like them and were prepared to use force to prove it; X(


    The American republic was fashioned, intentionally, on the Roman model. The modern American empire evolved naturally, as did Rome, into a system of bread and circuses at home…and near-constant wars on the periphery. :]


    Americans believe they got to their superior position as a result of their own virtue. This is partially true. The virtues of hard work, thrift, enterprise, innovation, low taxes, respect for private property, and minding your own business helped make the country rich. But it was luck, too, that put them on a nearly-empty continent far from European wars…and brought the industrial revolution to them, from England, just as the nation was founded. It was luck, too, that brought them to a position of industrial prominence just when European powers were bashing out each other’s brains.


    But for all empires, great and small, luck and virtue run out. The old habits are lost. The young energy matures into decrepit institutions…and the order that the empire has established begins to work against it. Industries on the periphery are leaner, more competitive. Nations on the periphery are unburdened by imperial expenses. The virtues that were so important to building the empire emigrate outside the homeland. People in the periphery states work harder and save more of their money, while those in the homeland focus on art, education, games, architecture and style. Soon or late, the periphery states are able to compete with the homeland – not just economically, but militarily. And finally, the empire is buried under a mountain of debt and conceit. 8o


    Where we are in the imperial cycle it is hard to say. But who knows? The American imperium could take hundreds of years to fall apart. ?(

    IMHO es gibt einen HUI run bis 220..... Egal wo nun Gold steht.
    Danach kommt wieder Tsunami bis 175 max runter.
    Danach explodiert er im September-Dezember nach 280-300.


    Mahendra sagte Gold wird unter die 400 USD fallen aber ich kann es mir nicht vorstellen.
    Da muesste der Dollar bei 1.20 zum Euro sein.


    Und das kann ich mir wiederum nicht vorstellen aber alles ist bei den Bazis moeglich. X(


    The magic Dollar ?(


    Gnight, enjoy your weekend and SMILE ! :))


    XEX

    Koennt ihr Euch noch an die Zeiten erinnern als Droppy auf 0.60 USD war und alle besorgt waren und wenige positiv dachten. ?(


    Ja, guat schauts heit aus, die Droppy ! :D


    Wo ist der Gogh ueberhaupt ??


    Der fehlt hier mit seinen Kommentar zur Sache Hippo's in the pool.


    Gruss


    XEX

    Zitat

    Original von Nostradamus
    der trend is abwärts wie eh und je ?(


    Auf welchen Trend der wohl schaut ??? :D


    AMEX GOLD BUGS INDEX (AMEX:^HUI) Delayed quote data

    Index Value: 185.53 - 230 ????
    Trade Time: 1:06PM ET
    Change: 6.89 (3.86%) Prev Close: 178.64
    Open: 178.64
    Day's Range: 178.64 - 185.95
    52wk Range: 165.71 - 248.18


    It's a lovely Birthday for me, and nice day for you too, dear Gold/Silverbugs ;)


    Have a nice weekend, Gruss XEX

    Simona


    Manchmal schmeisst man gutes Geld einem schlechten nach aber ich hatte oft Situationen wo ich staendig nachgeschmissen habe und somit leichter und schneller mit gleichstand rauskam. Ich glaube da ist nichts falsch mit GSS, die sind mit den Sentiment der RSA Aktien ungerecht mitgefallen. So dachte ich nach und kaufte heute bei Eroeffnung die selbe Anzahl von Aktien, nun bin ich nur mehr -25% im Keller. ;)
    Schnelle 7% eingesackt heute,......passt schon.



    Gruss


    Eldo


    GSS
    Last Trade: 2.86
    Trade Time: 1:00PM ET
    Change: 0.19 (7.12%)
    Prev Close: 2.67

    @GSP


    Funny, without timing today with this one I'm one year older and the same time the posting is the same number as my birthyear.
    Interesting view and aspects,I see and expect the same. ;)
    It's just another scam from the big boys.
    You're a smart cookie, I also smell the rat in the kitchen.
    Soon we'll see some amazing moves and bubbles to burst.
    The question remains, which one will pop first. ?(


    Cheers


    XEX

    Der heutige Handelstag in New York sollte zeigen wie die Wahl in Frankreich ausfaellt da ich vermute das Insider schon heute darauf reagieren, erst Recht wenn Montag die Boerse in New York geschlossen ist wegen Feiertag. Es wird bestimmt ein interessanter Abend,bin gespannt wie es ausgeht.
    Meiner Meinung nach ist der Hochpunkt beim Dollar erreicht und Gold sollte demnaechst ansteigen,hoffen wir mal es springt heute ueber 420 USD.


    If France votes "Yes" and ratifies the European Constitution we could see the euro rally, the dollar fall and the gold price rise.
    That would be good news for gold stocks and might catch a few people off guard :D, as many anticipate weakness in gold stocks at least until autumn.



    Gruss


    Eldo

    Even the Italians are Falling Out of Love With the EU


    May 26, 2005


    According to a story on Reuter's website, the Italians are falling out of the EU. No, they are not becoming eurosceptic, various political scientists proclaim but they are rather fed up with what they see as the EU's demands making the Italian recession worse.


    Needless to say, Silvio Berlusconi has been making noises.


    "We're pretty tired of all this bureaucracy. We are really determined to do battle over this because Europe's job should not be to create difficulties for member states, but precisely the opposite."


    True enough, though it has taken them a little time to realize the problem. In any case, the statement is not unconnected with Berlusconi's domestic political problems.


    Berlusconi is blaming the euro or, at least, the way it was put into place (the method is always the problem, not the substance) for Italy's economic difficulties. Popular support for the euro, according to the last Eurobarometer poll, is down to 62 per cent.


    Anyone who has visited Italy recently and talked to Italians would know that that is an overestimate. The euro was never all that popular, though the idea of Europe may have been.


    It seems to be a given that most Italians are pro EU and Prodi may reap the benefits there. But Berlusconi, who has made great play of standing up for Italy's interests, may yet surprise us all. Again. After all, opinion appears to be moving in his direction.

    Tschonko


    Europa profitiert beim Export, passt schon.Die Franzosen sind die einzigen die auf die Strasse gehen und demonstrieren,in D schluckt man alles, leider.
    Ein starker Dollar fuehrt zu hoeheren Imports in der US und wie einfach druckt man weiter bis ins Uferlose. Kommt ja keiner und sagt jetzt ist Schluss solange sie kaufen und kaufen. Ich habe immer die Vermutung wenn dann Zahltag ist dann bewerten sie die Goldreserven in Fort Knox so hoch das sie damit wieder kreditwuerdig sind.
    So wie man den Preis von Gold runter manipulieren kann geht es auch hinauf und somit stimmt dann wieder die Buchhaltung. :D


    Ihr lacht vielleicht, normal sollte die Wahl auf Nein ausgehen,dann wuerde Holland folgen und das Chaos ist perfekt.
    Die werden an den Zahlen ein wenig drehen und die Wahl geht auf Ja aus. Glaubt ihr an echte Wahlergebnisse und ehrliche Auszaehlungen im Elektronischen Zeitalter ?
    So hat auch Bush und De Klerk gewonnen. :D


    Expect the unexpected !!!

    Zitat

    Original von thor
    Kostolany:
    Gold ist das Symbol für Deflation und alles Negative, das mit der Deflation kommt: Rezession, Massenarbeitslosigkeit, politische Unruhen. Ich gehe sogar so weit zu sagen, daß die Goldanbindung der Reichsmark in der Weimarer Republik zu Adolf Hitler geführt hat. Damals gab es noch das sogenannte Goldstandardsystem, in dem alle Währungen zu einem festen Kurs in Gold umtauschbar waren. Neigte die Währung eines Landes wegen einer Wirtschaftskrise zur Schwäche wie damals in der Weimarer Republik, mußte die Notenbank mit ihren Goldreserven die Währung stützen, indem sie Gold gegen die eigene Währung verkaufte. Das hatte zur Folge, daß die Wirtschaftskrise aufgrund des fehlenden Geldes noch schlimmer wurde; denn Sie kennen ja meinen Leitsatz, den ich von einem ungarischen Zigeunermusiker habe: Ka Geld, ka Musik!Quelle: http://Boersenreport.de



    DER HAT SIE NICHT MEHR ALLE !

    Guten Morgen, hier ein neuer Report von Paul van Eeden ueber Dollar.
    Technisch gesehen liegt die untere Grenze nun bei 1.246 USD/Euro,sollte diese Marke durchbrochen werden kann es bis auf 1.20 USD/Euro gehen.
    ---------------------------------------------------------------------------------------------------


    On Sunday France will hold a referendum to decide whether the country should ratify the proposed constitution of the European Union. Current polls indicate that a majority of the voters may vote against ratifying the Constitution.


    It is quite possible, then, that the recent strength in the US dollar is a result of capital flowing out of euros and into dollars. The euro has declined more than 4.5% against the dollar during the past three months and the gold price, in US dollars, has been weak.


    If France votes "No" on Sunday we could see further erosion of the euro, increased strength in the dollar and weakness in the gold price. Another possibility is that given the lack of sound currencies investors will turn to gold itself, and the gold price might benefit in spite of dollar weakness. I find the latter to be an attractive possibility and it would certainly be my first choice, but we have not seen gold benefit much from uncertainty in the past fifteen years, so I suspect that instead of gold, the dollar will benefit the most from euro uncertainty.


    If France votes "Yes" and ratifies the European Constitution we could see the euro rally, the dollar fall and the gold price rise. That would be good news for gold stocks and might catch a few people off guard, as many anticipate weakness in gold stocks at least until autumn.


    Regardless of what happens on Sunday, we should keep our eyes the dollar itself and the issues facing it. I am no fan of the dollar. Recent weakness in the euro may have given it a boost, but we must remember that the US trade deficit is putting immense pressure on the dollar. The dollar has not declined significantly as a result of the trade deficit only because Japan, China, and several other trading partners of the US have been buying US treasuries, instead of selling their dollars into foreign exchange markets to prevent their currencies from appreciating.


    The party ends when these countries stop buying US Treasuries with their trade dollars and convert them back into local currency instead. That is why the key to the gold price, in my opinion, is whether China will allow the renminbi to float and, if so, when.


    Washington is putting tremendous pressure on China to let its currency appreciate. If China complies it will eliminate China's need for US Treasuries. You can bet that Japan, together with many other countries in Southeast Asia, will follow suit and let their currencies appreciate as well. But then who is going to buy all the US debt that Washington has to sell in order to finance its spending?


    Net Foreign Official purchases of US Treasuries were negative $14.98 billion in March this year. This was the largest net redemption of US Treasuries by the Foreign Official sector since August 1998 and the first net redemption since August 2003. A warning?


    If the impact of this does not immediately strike you I suggest you read my commentary from February 10th (available on my website at http://www.paulvaneeden.com in the Commentary section). You may also find it interesting that Ben Bernanke, a governor of the Federal Reserve Board who is being nominated by President Bush to become Chair of his Council of Economic Advisors, stated that there would be a measurable impact on US interest rates if China stopped buying US Treasuries. Keep that in mind when you read the February commentary, and next time you hear Treasury Secretary John Snow call on China to revalue its currency.


    The thought I would like to leave you with today is that even though uncertainty about the European Constitution may be boosting the dollar in the short term, the outlook for the dollar is grim. I will be the first to admit that I have no idea how long this dollar strength will last, or what is going to happen in Europe, but I will tell you that I have a lot of patience and the surest bet I know of is a bet against the dollar. For me, that means a bet on gold. ;)


    Paul van Eeden

    GO GATA!!!


    In:


    *Stronger dollar due to confusion over Euro
    *Lower intermediate/long-term US interest rates
    *PPT inspired US stock market
    *Fabricated employment/US inflation numbers
    *Silver


    Out:


    *The truth
    *Gold
    *The euro


    Forgotten: :D


    *Growing US fiscal deficits
    *Iraq


    Rebounding: :rolleyes:


    *Oil - $51.03, little changed
    *Copper – Spot $161.40, up 8 cents; July $144.95, up 3 cents
    *CRB – 300.09, up .85


    For what seems like a daily occurrence, gold made its high of the day during the non-Comex affected time period in London, coming in at $418.75. At that, it was on its way lower after rising to $419.70 during Asian trading hours.


    The gold world has been dumbed-downed to believe the price of gold can only move up if the dollar moves south. This is just what The Gold Cartel intended market participants to think. The only reason gold has traded in sync with the action of the dollar much of the time is because of the cabal’s market manipulation scheme. They have used the dollar action to play with the specs, capping the market on dollar weakness/ spec buying, and then covering like they are now when the dollar rallies and the funds sell. They have made a fortune over the last 8 years playing their orchestrated game in this manner.


    There is a zero chance of the gold/dollar trading pattern, or relationship, staying status quo in the months and years ahead if MIDAS and the GATA camp are correct about the central bank gold loan/swap situation. We believe more than half the central bank gold is no longer there, having been fed into the physical marketplace for a decade in order to suppress the price and keep the dollar much firmer than it otherwise would have been; i.e., the US Strong Dollar Policy came into being.


    If we are correct, The Gold Cartel is going to hit the wall in terms of securing the 120+ tonnes of gold they need every month to keep the price of gold from taking off. At some time in the future, I believe near future, they will have to let the price shoot up towards $500 to ration the diminishing central bank supply. To ration demand (slow it down) the price must rise sharply. As this process kicks in, it won’t matter what the dollar is doing.


    During this latest gold price decline, especially of late, gold has been firming up in terms of other currencies. This is a positive development, one which bodes well for gold company profits and the future price of gold in dollars.


    Not only is available central bank supply on the wane, so is mine supply, which was even less than previously thought for all of 2004:


    "Global gold mine output was 2,464 tonnes in 2004, figures from consultants GFMS show."


    In the meantime The Gold Cartel continues to stop all rallies, which is why gold fails to trade like most of the other commodities markets which are gyrating all over the place. Every time gold attempts to move higher the cabal sells. This encourages the funds to sell, causing the price to retreat. The buyers on the retreat are The Gold Cartel forces. Who is doing what and why is clear as can be.


    Why doesn’t The Gold Cartel smash gold into oblivion? Because the physical market is too strong. The cabal doesn’t want to increase their exposure at these price levels – just keep the price at bay and a non-event as far as the financial markets are concerned.


    Silver refuses to go down and closed near the upper end of its massive wedge formation. A breakout to the upside ought to be extremely bullish. Silver is holding its own and then some. What will it do when the dollar reverses course and gold takes off? Fireworks are brewing. On that note:


    Your London Stalker buddy has been a pretty consistent source of accurate market intel, especially with regard to gold. But his silver bunny has a bad nose. Or, more likely, is in a pickle and is trying to use whatever means possible to try and jawbone silver players into selling. Quite frankly I thought he was crazy the first time around, but when I saw his cue the other day I went out and moved more money into my futures account so I could get long more July silver. The most ironic part is, at this stage in the game your steadfast subscribers who remain are the ones who really understand reality. Let's keep this source alive, because he is a fabulous contrarian indicator!



    Dave in Denver

    Conclusion :


    Short term : HUI is so oversold and undervalued against gold that a further decline seems highly unlikely. The Gold/HUI ratio and the 'relative' HUI both suggest an upward bounce (at least for the short term) no matter what the current overall trend is (bull or bear). According to its own history such a bounce could launch the HUI towards its own 200 dma. Therefore a (short term) bounce towards the 200 level shouldn't be categorized as being 'science-fiction'.


    HUI long term, bull market over ?


    Many analysts do suggest that even if the HUI manages to make an upward bounce (in order to work off a severe oversold condition) its gain will be limited by its 200 dma before continuing its downward trend since Dec 2003. Now, is the HUI bull run history indeed? Or should we prepare ourselves for the next move up ?


    Well, it all depends on the price of Gold imo. Higher gold prices mean higher gold stock valuations, it's as simple as that ! Before we go further let's check out if that is and has been the case of late.


    Higher Gold prices mean Higher Gold Stock valuations ?


    Some analysts claim that gold stocks could be in a bear market while gold itself could remain in a bull market. Analysts projections of a HUI decline towards 100 while bullish on gold confirm the extreme bearish sentiment towards the gold shares these days.


    Statements that gold stock valuations have nothing to do with the price of gold is denying that the rise of Durban Deep from 50 cents towards $50 in the late seventies had anything to do with the sharp rise in the price of gold. Mining companies do have gold reserves. When gold prices rise, the net value of the company's gold reserves rise and so will company's total net worth !


    'What is the future trend of the dollar ?' Why ?


    Because there is a very strong correlation between the dollar and gold. If the dollar goes so will gold but in opposite direction.


    Still some analysts try to put gold in a commodity box and are happy to explain rising gold prices mainly to producer de-hedging activities. I don't agree with that kind of reasoning. When you consider that the paper-gold market is about 35 times larger than the physical gold market it should be obvious that a tiny 300 tonnes producer de-hedging don't have that much effect in the face of a massive 120.000+ tonnes of paper-gold traded every year. Sure, producer de-hedging helps to underpin the price of gold but it's not determining its primary trend. Producer de-hedging is a consequence of a higher gold-price (expectation) but it's not causing it.


    So what determines the primary trend of gold ?


    Well, the primary key-driver for gold remains the dollar, no matter how you slice it.


    Gold is the primary driver for gold since gold trades as a currency and has proven to be a perfect hedge against a declining dollar, it's there for everyone to see. If gold and the dollar move in opposite direction than we should see a similar pattern if we chart gold against an inverted dollar


    Future scenario ?


    Again, no-one can predict the future but nevertheless it's fun to speculate about future possibilities. Now if the dollar remains in a bear-market in which I think it will, than we're approaching now the end of 'counter-trend' rally III (see three-year dollar chart). What you'll notice is that the end of a 'counter-trend' rally usually marks the beginning of a multi-month decline (> 6 month). No here it gets interesting since the greatest rises in gold happened to start at the end of previous dollar 'counter-trend' rallies.


    The end of 'counter-trend' rally I occurred in Aug 2003. Gold started an impressive rally then which took it $70 higher ($360-$430)


    The end of 'counter-trend' rally II occurred in May 2004. Gold started an impressive rally again which took it almost $90 higher ($371-$456)


    The end of counter trend rally III in May/June 2005 ???. Another Gold move in the make of $70 - $90 ??


    Previous up-moves in gold which started from ending dollar 'counter-trend' rallies lasted 5 - 7 months launching gold by $70 - $90. Another 5 -7 months up-move in gold taking it up by $70-$90 brings us $500 gold before year end or shortly thereafter. Weird idea ? Don't think so. Even GFMS which is always very conservative with its price predictions wouldn't be surprised to see $500 later this year.


    Dollar could push gold to $500 level in 2005
    By Kevin Morrison
    Published: April 28 2005


    Gold prices could reach $500 a troy ounce this year if the dollar continues to be forced down by concerns about the twin US deficits, said GFMS, the precious metals consultancy, on Thursday.


    "We are reasonably sure that we will see a $470 or $480 gold price, and I think there is a distinct possibility that we could see $500 this year," said Philip Klapwijk, executive chairman of GFMS, at the launch of the group's 2005 gold survey. END


    It should be obvious that if the dollar remains in a bear-trend indeed gold will resume its upward trend soon. If Gold resumes its uptrend soon then the Gold/HUI extremes can't be solved without much higher gold stock prices.


    Highlights :


    Dollar reaches overbought condition which makes a further up-move increasingly difficult.
    Relative dollar chart suggest a top nearby for the dollar as well.
    When Dollar resumes its bear trend of last three years gold will go but in opposite direction since gold is the anti-dollar and trades like a currency.
    Dollar could be very well in its latest stage of a 'counter-trend' rally
    Previous ends of dollar 'counter-trend' rally marked the start of giant gold up-moves ($70-$90)
    If Gold resumes its uptrend soon then Gold/HUI extremes can't be solved without much higher gold stock prices.
    Relative Gold/HUI charts suggest a bottom nearby for gold-stocks and gold.

    If you would like to view other articles by Eric Hommelberg,


    http://freemarketnews.com/portfolio/index.php

    Ich habe gerade ein Interview mit dem CEO von Greystar Resources gesehen auf CNBC. Die Firma war mir nicht bekannt und hat genuegend Resources in Columbia.
    Er sagte die politischen Risiken sind gering.
    Erstaunt habe ich dann festgestellt das die Aktie nicht gefallen ist und ca. - 10% zum Jahreshoch steht trotz dem Tsunami den wir ueberall hatten. Ich habe sie nun am Radar und wollte Euch mal fragen was ihr darueber denkt. Sollte man da einsteigen ???


    Schaut die Webseite mal an:


    http://www.greystarresources.com/s/Home.asp


    Gruss


    Eldo

    Worries wegen Hedge Funds, erinnert mich an LTMC ?(
    Haben sich da enige uebernommen mit GM/Ford Aktien etc. ??
    Hoffentlich kriegt JPM mal eine saftige Watschn zur Abwechslung,diese Saubuam !. X(


    Super Radio Reports, schoen dann brauche ich weniger lesen. :))
    Chapman's Market Cycle Report sowie das ganze Team bei freemarketnews.com finde ich fuer glaubwuerdig und informativ.


    http://www.freemarketnews.com/portfolio/talkradioetv.php


    Gnight


    XEX