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Record Gold today = NOT~Arrrgh!

gsa1fangsa1fan Posts: 5,566 ✭✭✭
in Precious Metals
I feel like the weather man. All I can predict is that it's unpredictable!
Avid collector of GSA's.

Comments

  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I was thinking yesterday that we've been in a pullback for a couple of weeks. When the pullback is that weak, the overall direction is strongly up. --Jerry
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Gold stocks appear to be still tracing out a consolidation from their peak of last week. Kinross has the clearest chart and it looks to be in the 4th wave starting today. I'd figure one more wave down by early next week for more of the miners to touch their 50 dma then things will be ready for another gold boost. Of course the right event at the right time could send it scurrying in either direction fairly quickly.

    Read a quick news story on Kitco this morning that was trying to douse the gold fires. "Official" high up sources in Russia are stating that they plan to sell 20-50 tons of gold this year to help bridge a budget gap. That's 0.6-1.5 $Billion dollars worth. Hardly enough to cause a dent in a budget the size of Russia. Secondly, those official sources might want to check with their central bankers who just bought 12 tons of gold in September....lol. Seems like they aren't talking to each other. The Russians carry a few hundred Billion dollars in US denominated reserves. I'm sure they'd be more than happy to continue trading a few billion here and there for gold.

    Russians selling gold

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    It shot up like a rocket at open of the market. Now less than yesterdayimage
    Avid collector of GSA's.
  • DoubleEagle59DoubleEagle59 Posts: 8,197 ✭✭✭✭✭


    << <i>It shot up like a rocket at open of the market. Now less than yesterdayimage >>



    games...all games.

    the long term trend is way up.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • jmski52jmski52 Posts: 22,364 ✭✭✭✭✭
    It shot up like a rocket at open of the market. Now less than yesterday

    When it shot up, I went onto Jim Sinclair's site and saw that the dollar was being pumped at the same time.

    Interestingly, silver and platinum were still going up when gold first got hit. I guess they only went on a direct attack against gold. Of course, now both silver and platinum have followed gold lower as well.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • coynclectercoynclecter Posts: 2,111


    << <i>Read a quick news story on Kitco this morning that was trying to douse the gold fires. >>



    Kitco is always anti-gold. These guys have a huge unallocated gold reserve for customers and thier boy Nadler is always talking down gold. Ive read him for 5 years and he has claimed gold was going down since it hit 450/ounce.

    I'd be real nervous if they were (claiming to be ) holding any gold of mine
  • RedHerringRedHerring Posts: 2,077 ✭

    $1100 is just around the corner. If not by Halloween, then Thanksgiving for sure.

    Be patient.................image
  • fcfc Posts: 12,789 ✭✭✭
    seems like i just watch the dollar for now to get an idea of where
    gold will go.
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