Is Gold Making a Comeback??
goldbug15
Posts: 15
Prices are finally back over $1,300oz, China reports record consumption in 2013, bullion sales are soaring. Is gold staged for a comeback?
http://blog.upstatecoins.com/gold-comeback-horizon/
http://blog.upstatecoins.com/gold-comeback-horizon/
0
Comments
<< <i>Silver is also on its way back up. Both metals have closed above their 200 dma. So technically they should be poised for more gains. We shall see though. >>
agreed, we shall see.
<< <i>Silver is also on its way back up. Both metals have closed above their 200 dma. So technically they should be poised for more gains. We shall see though. >>
Draw an arrow at the end of those 200 day moving averages. Where do they point? Thats your direction for the next 6-9 months.
Knowledge is the enemy of fear
<< <i>Silver is also on its way back up. Both metals have closed above their 200 dma. So technically they should be poised for more gains. We shall see though. >>
Technically, based on the 200 dma, they are overbought. 200 dma tells me a decline is more likely.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Silver is also on its way back up. Both metals have closed above their 200 dma. So technically they should be poised for more gains. We shall see though. >>
Technically, based on the 200 dma, they are overbought. 200 dma tells me a decline is more likely. >>
True that the 200 dma is still falling, although they are leveling off, but silver has recently broken out of the $19-$20.50 range it has been in since November and gold has bounced off of $1180 support and has closed above $1300 for the first time since November. They are both above their 200 dma for the first time since last February. Of course, I could be wrong and this could just be a bull trap to draw in more longs before another leg down but I think the lows are in for the intermediate term. All depends on risk trends though. If the stock market takes a dive pm's will get hammered as they are the first to go when the margin calls come. Just for the record I'm not predicting some sort of 2011 style bull run but a more gradual grind higher with periods of consolidation.
<< <i>Patience is in order...In my opinion, silver continues to trade in a narrow 10% up or down, $22 trading range. It needs the return of the "market makers" or "speculators" to move it past $24. Physical demand appears to be heavy, but so is the supply. >>
Agreed. Comex silver inventories have been steadily growing since the lows of 2011. The $25 highs from August will probably act as significant resistance also.