Patience is Main thing... Its a good call to buy now

Good call to buy now for gold.
If you understand the charts, I am sure, you will be with me.

That gold will climb up again.

Best of luck in making good profit.

Cheers!!

Good News for Gold

A Canadian Company Plans to REPURCHASE 24,000 OUNCES OF GOLD.

Now if a Big Company thinks now is right time to buy, so do you think gold will go Down. NAH!!!

Comeon, Correction is over.

A $80-$100 dip from 730 to 635 level is Enough for Correction

And we will see around $30 up and down like a wave each month, which will make $850 by end of this Year


Regarding the Canadian Company go here http://biz.yahoo.com/iw/060531/0132421.html


If you havent buy gold yet, Its a Good call to Long and Buy!!!

Gold Position being Formed. Tells to Buy and go Long

Gold is Making a Shape Right now

A Pattern is Being Formed

Watch the Chart Carefully.

We see Upward trend now.

Its a Good Call to Buy, and Long your position.

Patience is Always Needed. Best Of Luck!!!

Good Buying Opportunity Right now

Gold is Now Uptrend.

Its a Good Buying Opportunity Right now

MA 5 has crossed MA 10.
RSI is in 30 level

Gold shall touch 660 level

Buy Now

Pass your views.

You can post your Comments by clicking the "COMMENTS" hyperlink to present your view over the mentioned Titles.

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FOMC REACTION - CHIEF US ECONOMIST SAYS WHAT??

FOMC react: Ian Shepherdson, Chief U.S. Economist at HFE, says "the
Fed minutes are a bit discouraging to those looking for a June pause,
though they certainly do not guarantee a further hike." He says there
are inflation concerns but the Fed still looks for econ moderation.
"The fact that a 50 basis point hike in May was even discussed
beggars belief, and it suggests now that we need to see a clear
softening in the data if there is to be no hike in June."


HFE expects weak core retail sales and falling home sales to show econ moderation.

DOLLAR-YEN: Carving out fresh highs for the day

Carving out fresh highs for the day around Y112.46 as the
dollar retains a firm tone in the wake of the FOMC minutes with offers
expected around Y112.50 and stops just above. Should the stops get
flushed, further supply is expected from Y112.60/90 with traders
mindful of recent supply ahead of Y113.00 option barrier strike.

Inflation Worry dominated May 10 FOMC meeting

At their policy meeting earlier this month, Federal Reserve officials appear very worried about rising prices and expectations among consumers that prices will rise further, according to a summary of their meeting released TODAY ( WEDNESDAY)

At its May 10 meeting the FOMC voted to raise its target for the federal-funds rate to 5.0% from 4.75%. It was the 16th consecutive quarter-point increase since June 2004.

According to the summary, Fed officials even debated whether to increase the funds rate by 50 basis points at the meeting, although there was also discussion about leaving policy unchanged.

But recent price developments clearly had the central bankers' attention.

FOMC members expressed "some concern" about recent price developments, with core consumer inflation rising a little higher than they had expected.

---- SO THIS TELLS NO INCREASE IN RATES... THERE WILL BE PAUSE...

Several members said that core inflation "was now around the upper end of what they viewed as an acceptable range."

They were also worried that a number of factors could give inflation momentum including a surge in energy and commodity prices and weakness in the dollar.

A close reading of the minutes suggests a heated debate about inflation expectations.

In the end, the FOMC agreed that inflation expectations "had risen somewhat -- a development that would have to be taken into account in policymaking and warranted close monitoring."

At the same time, some FOMC members argued that the pick-up in expectations was "relatively small."

After discussion, it was finally agreed that the FOMC statement should continue to say that inflation expectations were "contained."

Although some FOMC members were worried about "downside risks" to economic growth, especially from high interest rates on the housing sector, these concerns appear to have been drowned out by the discussion of higher prices.

Even with the heightened inflation concern, FOMC officials were open-minded about whether or not to hike rates in June.

"Given the risks to growth and inflation, FOMC members were uncertain about how much, if any, further tightening would be needed after today's action," the summary said.

Given the risks of inflation, the FOMC decided to repeat in their policy statement that "some further policy firming may yet be needed."

The FOMC agreed to modify that statement somewhat by adding "the extent and timing of any such firming will depend importantly on the evolution of the economic outlook as implied by incoming information."

This is a signal that the FOMC decision in June will depend on the incoming economic data, especially the numbers that come in over the next four weeks before the June 29-30 meeting.

Economists said this was designed to give policymakers maximum wiggle room at the June meeting.

THE COMMITEE THINKS TO PAUSE IN JUNE

Bernanke taps senior officials to explore communication

Fed chief Ben Bernanke has called on three of the central bank's most experienced officials to explore a broad range of issues related to how the Fed talks to financial markets. The subcommittee of the Federal Open Market Committee will be chaired by Fed governor Donald Kohn and include Minneapolis Fed president Gary Stern and San Francisco Fed president Janet Yellen, the Fed announced at the end of its summary of the FOMC's May 10 meeting. Kohn told the FOMC that the "objective of the subcommittee was to help the FOMC frame and organize discussion of a broad range of such issues over coming meetings."

Fed feels not to increase Interest rate

At their policy meeting earlier this month, Federal Reserve officials appear very worried about rising prices and expectations among consumers that prices will rise further, according to a summary of their meeting released.

At its May 10 meeting the FOMC voted to raise its target for the federal-funds rate to 5.0% from 4.75%. It was the 16th consecutive quarter-point increase since June 2004.

According to the summary, Fed officials even debated whether to increase the funds rate by 50 basis points at the meeting, although there was also discussion about leaving policy unchanged. But recent price developments clearly had the central bankers' attention. FOMC members expressed "some concern" about recent price developments, with core consumer inflation rising a little higher than they expected.

Overall, it tells, FED MIGHT PAUSE this time. They feel as not to increase Interest at the moment.

EURO DOLLAR MOVES HIGHER AFTER FOMC MINUTES

Edges higher, to $1.2845 area, in the wake of the FOMC
minutes with euro still unable to vault the morning U.S. hours highs
near $1.2860. Not a lot of flow seen in the wake of the data, one trader
says, with month-end considerations likely keeping many sidelined now,
either in profit-preservation or damage-control mode.

What does Dow Jones feel After FED MINUTES

Traders can judge the reaction of the Dow Industrials to the Fed minutes by moves away from the 11130.67 technical level. A higher move would be targeting 11280.20. But charts say that trading below 11130.47 would precipitate a roughly 100-point drop and direct the average to its technical breakdown level at 10884.57.

FOMC MINUTES CONTINUED....

Slower house Appreciation and rising energy Prices should contain the Economy.

If INFLATION worsens there could be "further policy firming" .

Action depends on INCOMING DATA

FEDS DANGEROUS GAME

The minutes to the FOMC minutes remain unsure about next rate Increase.

Discussed range of Options from PAUSE TO Half Point rise

MOST LIKELY PAUSE.

The Fed's dangerous dance with inflation continues. According to the May 10 meeting minutes the FOMC believed it's unclear if any more rate hikes are needed. They also continue to believe inflation will remain in check, even as they noted a "worrisome" shift in inflation expecations. Collectively, the minutes continue to represent a tug of war between the world the Fed expects to see, that has thus far not shown up in the data. And it's worth keeping in mind that since that FOMC gathering both the CPI and the core PCE have not gone the Fed's way

FED gives hints on pausing..

May 10 FOMC minutes: reiterate inflation fears and Fed's desire to stop
firming. Minutes say Fed is "uncertain about how much, if any, further
tightening would be needed after today." FOMC said upside risks to
inflation and infl expectations "had risen somewhat" since Mar, but FOMC
expected moderating growth and price pressures ahead. Slower house price
appreciation and rising energy prices should contain the economy. If
inflation worsens there could be "further policy firming." Action
depends on incoming data.

Gold might reach $850 by end of this Year.

Gold futures should reach the $850 an ounce level sometime this year, propelled by dollar weakness and the need of foreign governments to diversify away from the U.S. currency, James Turk, chairman and founder of GoldMoney.com, said Wednesday. Gold futures peaked at a closing high of $721.50 an ounce on May 11 and have been trending lower since then. However, Turk characterized the weakness seen this month as a correction, and predicted further gains for gold. Prior to this month's market action, many analysts had expected gold futures to top $1,000 sometime this year. Turk now expects to see gold above $1,000 in 2007. (Corrects spelling of analyst's name.)

Dollar Coasting Ahead of FOMC

The dollar is placid ahead of the FOMC minutes, after firming some during the afternoon following a strong Chicago PMI. End of month position squaring and a drop in oil prices may also be keeping the dollar supported. Recently, euro at $1.2831 from $1.2866 from late Tuesday. The dollar is at Y112.34 from Y112.22 late Tuesday. Sterling is trading at $1.8734 from $1.8837.

FOMC MEETING COMING UP at 18:00 GMT

Keep in mind FOMC was not aware of unraveling stock markets and worries about global growth and risk at their May 10 Meeting. At that time, risk and volatility were low and everything looked rosy.
Thus, rhetoric in the minutes might be relatively hawkish compared to what the market "needs" just now.

What is Happening to Gold today - WEDNESDAY - 31st May 2006 ?

Do you know?

Could be reason that its end of month, People are closing there position.

The Chicago PMI made the price go down from 650 level to 640 level.

Gold is long term bull.

Gold will rise Back again to 650 level, gold right now trading at 642 level at 18:00 GMT

PAss your views, to discuss