$1,000,000.00 Bet gold hits $1650.00

Discussion in 'Commodity Futures' started by trader123abc, Apr 1, 2008.

  1. Guys,Rather than reduce inflation, the US government instead shot the messenger. By fiddling with the CPI, the US government wants us to believe that inflation is not as bad as it really is, which is the same strategy it has pursued with the other important inflation messenger – gold. Government interventions to cap the gold price prevent the gold barometer from alerting everyone that inflation is a growing menace.However if they do it slowly they can also increase it at an accpetable level. Dont forget they have the higest reserves of gold and stand to benifit the most from an increase. 2007 world indexes had a great year i made a ton of cash and you would think gold would have retreated but it went up....expect nothing but up The Gold Price has successfully touched the $1,000 gold price mark, where profit taking took place. Even though this market is still undervalued the round number $ 1,000 was a place to take a pause. The next step is consolidation, I expect tight consolidation to occur here. A typical up down consolidation. Three attempts at the $ 1,000 gold price and some time should put it behind us.
     
    #11     Apr 14, 2008