2nd of September was the day!

The Baptist

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Dear Friends of T2W especially the commodity traders... The moment is here... Gold has broken the $971 level.. the massive move began today and will run for longer than most believe.

I was recording a Youtube clip on this very trade, as my platform started going ballistic with fills.

We are at the dawn of the inflation/stagflation era... You will read in the Financial papers in the weeks to come about this move and its significance.. as its momentum builds.

I predict $990 to fall - $1003 to fall - $1037 to fall eventually powering on to $1200++ with $2000 plus a distinct possibility given sufficient time.

I had an amazing pattern within a pattern across monthly/weekly & daily charts.. ths trade is a mover..
 
Yes I do wonder whether gold might push past $1000. I'll wait for a retracement of this current move or wait for the retracement once the price gets past 1000. If it holds above $1000 **** it I'm in heavy. Best of luck the baptist
 
Dear Friends of T2W especially the commodity traders... The moment is here... Gold has broken the $971 level.. the massive move began today and will run for longer than most believe.

I was recording a Youtube clip on this very trade, as my platform started going ballistic with fills.

We are at the dawn of the inflation/stagflation era... You will read in the Financial papers in the weeks to come about this move and its significance.. as its momentum builds.

I predict $990 to fall - $1003 to fall - $1037 to fall eventually powering on to $1200++ with $2000 plus a distinct possibility given sufficient time.

I had an amazing pattern within a pattern across monthly/weekly & daily charts.. ths trade is a mover..

Seeing this move right now as well. A little surprising given how equities and oil still heading down, but it does look like this move could be a big one. Especially as it is a seasonally strong time for Gold as well. Will be interesting to see what happens.
 
My ring will be worth something now.

More seriously, today's move isn't that different to the one occurring on May 28th. And this one is finishing off the high, so while you might be quite correct (and 10/10 for enthusiasm!) this is hardly ballistic and until the 990 level gets tested and confirmed, technically, it doesn’t warrant an immediate Long entry.
 
My ring will be worth something now.

More seriously, today's move isn't that different to the one occurring on May 28th. And this one is finishing off the high, so while you might be quite correct (and 10/10 for enthusiasm!) this is hardly ballistic and until the 990 level gets tested and confirmed, technically, it doesn’t warrant an immediate Long entry.

I guess it depends on how you read the charts, but you could have a breakout of a wedge/ triangle formation occurring right now, if it closes up around here. It's all in the interpretation, I think.
 
It has broken out on my Daily Pattern the weekly confirmation will be $990.. I was explicitly looking for an early entry as $990 will signal the world.

I wanted to be tucked in by then!

I meant to mention that Oil, HG Copper were all down, shares were down etc.. this shows good relative strength for the BO.

Remember as Gold is the Inflation indicator shares should move up (not necassarily in real terms), even house prices but in real terms I believe our pound will not stretch far in the future.

I wrote to George Osborne as the next likely Chancellor and told him Gold would break in the next 3 weeks some week and a half ago.

I told him my view is that the BoE is once again behind the curve. They twittered about Inflation while we fell off a cliff, and now the predict endless undershoots. Recovery or not Inflation will become the future Fin Pages headline.

Nobody Torches this number of Billions (Trillions even) without currency devaluation. I predict a dollar rout with GBP not too far behind, fiat currencies particularly in the west will be out of favour.

Out of this the $ will cease to be base currency and a basket will be the new order at the East's insitence. Here endeth the sermon by Nostradamus great great ... great Grand son of John 'The maker and breaker of Kings' Baptist.

Good luck I believe buying yellow is good for the green in your pocket bad for the Green back tho'
 
First profit stops at 987 hit in advance of 990 resistance.

Bulk of the position marches on..
 
Taking profits! Doesn't sound like you're as confident as you come across.

200 ounces on a 2500 ounces position?

with another buy limit north of the $991 level once possible resistance and delay in Break Out has been negotiated and shifting on?

I thinks I is ; - )..

I took out some Silver as well today, possibly better in % terms, so a touch of rebalancing was required.

Enjoy the move it seems 987 was a decent level as market is breathing a bit, I expect the March to continue however!(y)
 
Remember as Gold is the Inflation indicator shares should move up (not necassarily in real terms), even house prices but in real terms I believe our pound will not stretch far in the future.

I'm not too proud to ask: why is gold the inflation indicator?
I told him my view is that the BoE is once again behind the curve. They twittered about Inflation while we fell off a cliff, and now the predict endless undershoots. Recovery or not Inflation will become the future Fin Pages headline.

Nobody Torches this number of Billions (Trillions even) without currency devaluation. I predict a dollar rout with GBP not too far behind, fiat currencies particularly in the west will be out of favour.

I agree with the general sentiment. How do you think the Euro will fare?
 
gold longs will be massively disappointed. still so much resistance to get through. and imo the fundamentals don't call for high gold prices.
 
I'm not too proud to ask: why is gold the inflation indicator?


I agree with the general sentiment. How do you think the Euro will fare?

gold is a hedge against inflation (in theory) if all the worlds currency failed we would return to a gold standard
 
gold is a hedge against inflation (in theory) if all the worlds currency failed we would return to a gold standard

And then what? Gold will sky-rocket, governments have nice reserves (hah) and all everything in the real world i.e outside of the fin serv industry will become worthless?
 
on if you went back to a gold standard you would just peg the value of your currency to gold again, not really complicated!
 
Can't see how that wouldn't be complicated in the modern world with but then I don't know much about macroeconomics

anyway sorry to hijack
 
I'm not too proud to ask: why is gold the inflation indicator?


I agree with the general sentiment. How do you think the Euro will fare?


Gold flies in inflation periods as it is an inflation hedge the reason for this is that, faith is lost in 'fiat currency (s)' (unbacked paper like $, £ etc..).. its buying power slips, tangibles namely commodities get more expensive in light of devaluing currency perception.

It is an age old of store of wealth, through its rarity and unique characteristics.

Its the go to product at inflationary times.

Nixon took US off Gold standard due to overseas concern about the dollar and Bad US growth and his expensive war,.. tell me if anything sounds familiar..
 
gold longs will be massively disappointed. still so much resistance to get through. and imo the fundamentals don't call for high gold prices.


Now that $990 was seen off along with $971 and $962 in the space of 24 hrs trading do you still feel the move is not significant?

At what point will you deem it significant, if so

$1000?
$1006?
$1032?
$1100?
Other?
 
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