Gold Waterfall this morning.
jmski52
Posts: 22,904 ✭✭✭✭✭
Eh, I see gold going straight down, about 9 bucks on the Kitco chart. What made the dollar stronger today?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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Must have been the Summit meeting yesterday ....
Cheers, RickO
If down 0.8% is a waterfall, then what is the 10% drop since April?
Knowledge is the enemy of fear
@cohodk - Well, it looked like a waterfall on the hourly chart. 10% down since April - what would you call it? I'd call it a 10% decline since April.
@Ricko - what would be the thinking as a result of the summit meeting that might have caused a drop in gold or a rise in the dollar? I must admit that I haven't thought that one through, yet.
I knew it would happen.
Dollar index was at this same level in late May, yet gold is $80 lower. What's that mean?
Knowledge is the enemy of fear
da comrade, all is gonna be well someday
in the past couple of weeks the dollar index was down similar amounts intraday and no go on gold
there was some dovish talk from the fed today.
Gold and other precious metals are a waste of time as far as an investment. Sorry, but the prices are manipulated and with a strong economy (improving worldwide) I would expect a continued drop. I'm still forecasting silver at $8 before it turns up.
Buy it as cheap as you can and flip it as fast....only way to make money in metals.
Think about it. Gold and silver have been on a downturn for the last 8+ years. Those that invested in 90% or generic gold and silver have taken it in the shorts.
bob
@jmski52 ....Reference the summit comment... did you overlook the laugh and wink icons???
Cheers, RickO