http://www.kitco.com/charts/livegold.html

cheers GF.

POG on the UP?



Gold has been consolidating at its high's, usually a bullish pattern. The price action has become increasingly narrow (coiled spring). When the break comes the move is likely to a very significant one. Base on the chart I would say the price is likely to move $188 in a 12-18 month timeframe. An upside break through $698 would give a target of $886. A downside break of $638 would give a target of $450.

The recent attitude towards gold has been increasingly bearish, with even some of the gold bugs being cautious. I suspect such bearishness is a precursor to a move higher, but we shall have to wait and see. For those who like to see confirmation in other markets, the dollar index is also very close to critical support so it will very intestering to see how that issue plays out. Should the dollar break its support then gold may prosper.

If I had to make a decision here, I would be long gold, given the chart pattern and sentiment levels, with a stop below $630.

Hows that for top notch TA.


Actually lifted it off another board LOL.

confess i topped up POG @ 909 about a week ago ...... thought it looked quite badly oversold

Peter Hambro, too big a company for me in present mode.

$GOLD

$662 certainly looks like its on the UP.

If the Yanks keep interest rates on hold it could go a lot higher.

Gold inching up dollar inching down.

bullion tends to strengthen as US$ weakens ....... if US interest rates hardened (not too likley as far as I can determine), then bullion would weaken albeit temporarily as it still very much on a bull tack

Placed spot price chart at top of thread for easy reading.

now look at POG price ...... has suddenly bolted this afternoon - +47p

chart took on a really nasty aspect in mid May as can be readily see, but at long last sp is on the mend having just broken back quite decisively through 50 dma ...... there is possible resistance at both 1000 (now being challenged) and 1100 or even 1075 where sp meets 200 dma, so am undecided what to do with my "top up" stake bought at 909 on 25 dma .... greed will probably prevail!




black = 200 dma
red = 50 dma
green = 25 dma

Looks very interesting.

read latest RNS ..... if a long-term Russian investor reckons it's worth buying a siginificant slab of stock at 10.90, then that can scarcely be bad news for the rest of us ..... further, i dare say it will all help keep the local wheels well oiled

at last! ..... sp has finally got the wind behind it

I think Merrill have come out with a 20 target price here.

50dma about to head up through the 200dma for a nice golden cross. Heading higher to test to all time highs ahead?

all time high was actually 1700 in mid 2006 .... long long way to go to challenge that

Tipped in Telegraph on Saturday and Sunday Times yesterday.

tried to top up at 1230 this morning, but could not and was not prepared to chase

I haven't seen anything on the apparent 20 Merrill target, and not sure how reliable my source is.