Is Gold Making a Comeback??

goldbug15

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/

secondrepublic

Yes... but still far short of the 2011 highs. Long way back up. Nice to see the momentum though.

Silveraholic

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.

johnny9434

<< <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.

RedneckHB

<< <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.

derryb

<< <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.

Silveraholic

<< <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.

ArizonaJack

I bought gold @ $1250 and silver @$19.40, feeling good right now. Going to play wait and look before I plunge deeper. Thanks Derry and Dave for sharing your opinions . Lincolns I know but am a newb at seroius metal game. I consider my position serious now.

OPA

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.

Silveraholic

<< <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.

ricko

I believe that gold will trend higher, although I do not expect astronomical gains (that means $1600+).... Cheers, RickO