Long Position on Silver and Gold?

[Firehaus]

http://t.money.msn.com/now/gold-slum...has-fallen-out


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[kidicarus13]

http://t.money.msn.com/now/gold-slum...has-fallen-out


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It's back

[Firehaus]

Whoops!

We can't show you this right now. We'll get it fixed soon.

I just saw it 5 minutes ago! I shouldn't of watched H2 last night, now I need a tinfoil hat! Lol!


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[Rooskibar03]

http://t.money.msn.com/now/gold-slum...has-fallen-out


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Sonofabitch. I'm down nearly 150 an ounce. Bought for the first time at the wrong time.

[kidicarus13]

Gold prices in the spot market dropped by Rs. 800 or nearly 3 per cent to Rs. 28,100 per 10 gram on Thursday - its lowest level since August - after the Reserve Bank eased gold import norms yesterday. The central bank allowed more agencies to import gold in the country and also allowed authorized banks to give gold loans to jewellers.
(Read: What RBI has done to ease gold imports)

As a result of these measures, gold premiums in the country came down sharply to $88 an ounce on London prices on Wednesday after rising to a record high $160 an ounce in December.

"Gold premiums on the MCX, which have averaged around Rs. 1,180 per 10 gm since August 2013 fell to Rs. 534, almost a 50 per cent drop on Wednesday," said local brokerage Motilal Oswal.

R. Somasundaram, managing director, India World Gold Council, told NDTV that there is a huge arbitrage between Indian and international prices, not only because of import duty, but also due to spot premiums. With increased availability, the spot premium will come down helping lower Indian prices, he added.

A sharp appreciation in the Indian rupee has also pulled domestic prices sharply lower. The rupee traded at 58.42 per dollar today.

According to Motilal Oswal, gold prices could fall to Rs. 26,500-26,100 in the medium term depending on how global prices pan out or if a duty cut materializes.

Meanwhile, jewellery stocks also rallied sharply in today. Titan shares surged as much as 13.7 per cent, while Gitanjali Gems gained as much as 19.1 per cent. Other gainers included Tribhovandas Bhimji Zaveri and Shree Ganesh Jewellery House. (Read full story here)

Restrictions on the import of gold were widely credited for helping the current account deficit shrink to 0.9 per cent of gross domestic product in the December 2013 quarter compared with a record high 6.5 per cent a year earlier, sparking a recovery in the rupee from record lows hit in August.

Economists and traders now expect other restrictions on gold imports such as high import duties to be also taken off. The decision rests with the new government.

India's incoming prime minister, Narendra Modi, who led BJP to a decisive victory in a just-concluded election, has indicated his willingness to remove gold curbs.

"The current tweak in regulation possibly hints at a direction that gold related restrictions have peaked and the curbs on gold imports will be eventually be relaxed, albeit gradually," said Siddhartha Sanyal, an economist at Barclays. (Read)

[hatidua]

buy low/sell high

[Sawin]

buy low/sell high

I try to think more:
"buy on the down trends/sell on the up trends"

but I have yet to sell anything .

[brutal]

I keep missing the damn dip below 19.



Sent from my subconscious mind.

[roberth]

I keep missing the damn dip below 19.



Sent from my subconscious mind.

Did you catch the dip below 19 this morning?

[beast556]

18.99$ right now.