Another gold prediction: http://www.cnbc.com/id/33204585/site/14081545 The price of gold will continue to rise and outperform stock markets and could go as high at $2,000, depending on the strength of the S&P 500 index, according to Chris Locke, managing director at Oystertrade.com Management. Gold has already passed the $1,000 level, and âthe next point should be pretty quickly to $1250-$1300,â Locke told CNBC Wednesday. He said âno matter what happens to stocks and stock industries gold will outperform.â Makes sense to me. The $1,000 break was a huge momentum swing. Don't fight the trend. Short term gold has an easy 25% upside.
No, I just like trading it because it has good volatility. Well, usually: this summer was a bummer. I go long and short. Actually I use GDX, but of course it's all based on gold. Like I said, long for now, biting my nails, but today's price action was nice.
tomorrow 1050, breaks 1100 by end of October then we will start seeing $30-$50 one day moves, going to get really volatile soon.
better stay clear of futures trading then, I hate to see it get that volatile, but it well could do it.
I've looked at the ownership of about 20 to 30 (gold) mines and the one bank featuring the most amongst its peers is Barclays so it could very well be that they are talking their book. They did got slaughtered in their precious metals holdings in 08.
The buyers are simply hedgies working on their selfulfilling prophecy gold story. Let them just buy. At the culmination point these guys will trigger the fat finger button...