Forum > View Topic (Hot-Chart)
This thread was started in response to the Hot-Chart:
EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
True that you've been warning of a possible correction since April 9. But tell me ONE individual interested in finance who HSN'T been SCREAMING 'correction' since Feb 9?!
Asad
Pease coment the follow (discount i'm a newbi)
1 - I see a inverse H&S patern in Gold (xau/usd).
2 - Maybe buy is a good option.
3 - I see strenght in usd.
4 - The correlations betwen usd and gold are negatives.
What i'm seeing wrong?
Best Regards
Goldman, consumer sentiment etccc
Ashraf
TONNES FORECAST Comments
Supply 2008 2009 Growth % 2010 Growth %
Mine supply 2,356 2,432 3.23% 2,435 0.12%
To be reviewed with actual for the first qtr based on WCG reports
Scrap recycling 1,185 1,408 18.82% 1,500 6.53%
Scrap supply to reduce due to low prices this qtr
Hedging 33 38 15.15% 20 -47.37%
Central bank sales 298 351 17.79% 260 -25.93%
CBSL sales to decline this year
Total supply 3,872 4,229 9.22% 4,215 -0.33%
Supply to decline if scrap supply and CBSL sales decline ,out put from mines
Demand
Jewellery fabrication 1,976 1,798 -9.01% 1,600 -11.01%
With china being the number one consumer followed by India (Share more than 35% of world population with GDP forecasted to grow in year 2010 by 10.1% and 8.5% one would expect jewllery demand to grow during Festival and wedding seasons.
Legal tender coins 201 215 6.97% 201 -6.51%
To remain if investment demand grows and prices remain low
Electronics 422 366 -13.27% 390 6.56%
Industrial demand likely to remain stable this year with expected global economic recovery
Other end uses Industrial demand) 313 284 -9.27% 250 -11.97%
Do Do
Etfs 320 576 80.00% 700 21.53%
Could increase if inflationary expectations grow ,along with expansionary fiscal policies across the globe and china launching gold based products with WCG
Central bank purchases 191 380 98.95% 250 -34.21%
CBSL would remain net purchases of gold this year
De-hedging 374 229 -38.77% 120 -47.60%
To decline
Total demand 3,797 3,848 1.34% 3,511 -8.76%
Demand could increase if supply decreases and jewllery demand grows
Residual (surplus/deficit) 75 381 408.00% 704 84.78%
Source -Fortis Virtual metals group while comments made is based on historical analysis of market and past trends.
Actual data to received from World gold council for this quarter
will provide more in sight and direction to gold prices in the ensuing quarters
Current positive correlation ship of gold with equities market world wide and negative correlation ship with EURO/ US dollar will impact world prices as well.
Cost of mining gold per ounce at present is USD 800 per ounce while India puchassed 200 tons of gold at USD 1,040 and ounce from IMF in Dec 2009.
Appreaciate your views on above Ashraf and the rest thanks