Gold Bid now at $918.90....how long till $800?

Manorcourtman

Just stirrin' the pot Looks like Oil and PM's are headed south

EagleEye

Do you REALLY think that is the long-tem tend?

Hyperion

I have a single UNC ASE that says it'll hit 1k before it hits 800

Goldbully

Going back up

bfjohnson

I think the ASE will hit $18 before $1000.

roadrunner

The FED and cartel put on a good show today with the GSE bail out plan. Run up the bank stocks and GSE's...everything's fixed "again."
Nothing like owning an insolvent bank or brokerage to get the blood rushing.

I don't think we'll see below $910 on this correction. But I do the PPT credit for jumping in on the smack down around $930-940 and sending it under $920. Excellent job guys. It's time to fill the 2nd half of my orders now as a number of prime gold producers are stupid cheap once again.

roadrunner

ziggy29

It's not just gold, though. Oil and other commodities are tanking, too. Seems to be a concerted effort by the PPT and central banks to prop up the dollar, and maybe to get the hedgies to start bailing out.

7over8

agreed

roadrunner good synopsis

lots of short covering before tomorrow

push down the metal, cover them shorts, achieve the ppt objective qand get rewarded at the same time

roadrunner

push down the metal, cover them shorts, achieve the ppt objective qand get rewarded at the same time

And the banks, brokerages, and dollar live to fight another month or so. To the FED and Treasury, it's all about defending paper a month at a time....a death row reprieve. It would seem getting to November is goal number 1 right now. Unfortunately keeping gold under $1000 by then will take a lot of work. But they are pulling tools out of the woodshed that were never their to begin with.

roadrunner

FishyOne

The REAL question should be, "How long until gold hits $1,200?".

This would make for a great Double Eagle give-a-way. My guess is November 2009.

My second guess is we'll never see gold under $800 again.

derryb

good time to ultra short the financials with some more SKF.

tincup

Those who believe..... that it is wise to hold gold..... welcome these dips for another buying opportunity.

Those who believe..... that it is folly to hold gold..... welcome these dips so they make another post to point out that it is dropping!

I doubt that regardless of the direction that gold will take.... will change very many minds on the wisdom or folly of holding gold. To each their own.

As for me.... I expect this dip to be just like the others.... short lived and then will continue to push upwards again (until the next manipulation/selloff).

mrpotatoheadd

<< <i>My second guess is we'll never see gold under $800 again. >>

Well, at least until the dollar finally loses so much value that they drop off a zero or two...

notwilight

<< <i>I have a single UNC ASE that says it'll hit 1k before it hits 800 >>



I've got a box of 20 that I'd bet the same way Hyperion is betting. --Jerry

percyb

<< <i>
, it's all about defending paper a month at a time....a death row reprieve. roadrunner >>



Well said RR. It's a stay of execution but an eventual death nonetheless.