Gold

[TwoWolves]

COMEX futures are driving spot with joke level Hypothecation, mostly Fed action at the moment.

[scooterscot]

WTF does that even mean?
Is it going to go up or down?
Should I buy or sell?

Am saying, if you own spot gold, prepare for it to cost less next month and the month after that. A lot less.

[scooterscot]

And to some extent I can understand all that but Scoots posts charts about Gold, Bitcoin, Shares. Each as a very different animal, one is a fundamental base of monetary systems (arguable I know but you get my drift), the other doesn't even exist and the last is tied to how a business performs and market conditions.
I just cannot get how the same techniques can possibly work across all three with so many different factors that drive highs and lows. It doesn't make sense so unfortunately easy for people like me to just dismiss it as a complete sham. I could understand if it worked for bitcoin as it doesn't exist so you can use charts to predict how people react to previous movements as there are no other tangible factors affecting the price. Maybe so for business to an extent due to people selling high, buying low with the actual business performance and market conditions only being a factors but gold is such a slow burner and affected by much bigger things how can standard technical analysis work?
.

It matters not what the chart is charting, futures, gold, the price of fishcakes in Hong Kong. The technicals will remain true. The charts are only chart human behaviour.

For your info, 'Spot Gold' doesn't exist either, mostly. Yet people buy thinking they own gold. Spot gold is 4x oversold than there is the physical stuff to replace it.

Gold ETF's are a sham.

[AtW]

Am saying, if you own spot gold, prepare for it to cost less next month and the month after that. A lot less.

Why do you care?

[Lance]

It matters not what the chart is charting, futures, gold, the price of fishcakes in Hong Kong. The technicals will remain true. The charts are only chart human behaviour.

For your info, 'Spot Gold' doesn't exist either, mostly. Yet people buy thinking they own gold. Spot gold is 4x oversold than there is the physical stuff to replace it.

Gold ETF's are a sham.

if you buy spot gold do you pay VAT?

[scooterscot]

Why do you care?

I don't. I'm neutral.

[scooterscot]

if you buy spot gold do you pay VAT?

Not if in the form of a ETF.

[AtW]

I don't. I'm neutral.

You are a moron

[BR14]

You are a moron

oh, come on ivan. he's not a moron, - he's a complete bampot.

HTH

[scooterscot]

You are a moron

Thanks for your input.