why 1100? why not just 100? or maybe 10? don't be fool 1422 is the bottom with high probability. at least short term although I put overnight buy lmt 1387 and also have shorted May puts at 1300
In my personal archives I show India's Central Bank was a huge buyer around $1440, back in mid Q4-2009.... I'm a buyer (of physical, no paper whatsoever) at that level. Paper and Physical are completely disconnected. And I also know, gold (and silver) will never be worth zero, such as is the race among all the thin air fiats. Trade On!
1422 is just a random number on the day chart. No support anywhere for it. It could just as easily fall to the 2011 low of around 1300. At this point, I would not be bottom picking if I were you.
Correction: Indias central bank buy was $1240 in Q4-2009. Nonetheless... buy physical. No paper whatsoever!!
that's a not a random number that's where it stopped falling and now 30 points higher if you were me you would already made big money
No they're not. If your theory was correct then you could make risk-free arbitrage profits by buying gold futures, taking delivery and selling on the spot market. Try doing that, you'll see the future and spot market are connected very tightly.
Oh man... sorry. I'm not a dickwad that is going to rub it in your face, especially if you really are holding short naked 1300 puts. Man..
I can't stand Peter Schiff but I'll have to check the youtubes to see his response. They could just play the same clip over and over, he always says the same thing.