The problem with taking profits in Gold for most long term investors, and assuming the market makes short term top (1-6 months), is where do they get back in? As easy as the question sounds it's actually a hard one to answer. So I'd bet most who try to trade will mess up and be waiting for a deeper retracement which to buy. When the Gold train takes off again they'll be kicking themselves for trying to be 'too clever'. But when they sold around the original highs they'll pat themselves on the back for being 'clever'. Moral of the story, if you're long Gold expecting a major move, turn your Kitco feed off, sit back and don't try to be clever.........
All the grains locked limit up this morning. Doesn't this guy get tired of making a complete ass of himself in the financial media? Don't Bloomberg and CNBC get tired of putting up a complete and utter moron as an interviewee over and over again?
Yea I guess he exited the trade a while ago, and I give him credit for outlining how poorly it went, but it hurts to be right at the wrong time...Welcome to harvest season grain trading.
be my guest. Can gold rip higher? Sure if USD is sold more going forward, simple as that. This is not a gold move in itself, its all in response to relentless dollar selling, so simple. If you want to express a view then you better do it via USD rather than gold. just my 2 cents...
again, there is NO GOLD TRAIN NOWHERE TO BE SEEN. You and anyone else who claims Gold is rallying does not get at all what this whole macro picture is all about. As one person pointed out, Gold is DOWN vs Euro. Gold is up vs Dollar not because Gold was bought, it was because dollar was sold, what is so fuxxing hard to get? Had you sold USD vs pretty much any other currency then you would be sitting on a lot larger gain than buying Gold vs USD. Get real!!! P.S.: Dont forget US-Ts, maybe you want to first compare all asset classes before you re-cast your vote on Gold.
just pointing out the obvious, you seem to have been caught in between the media trains. By the way, Gartman is one of the most subscribed and read independent analyst shops among sell side and hf firms. He was pretty much on every long term trend.
Listen, there might be all sorts of ways to skin the same cat but try telling my father who's been religiously buying Krugerrands (in sterling) for the last 12 years that he's been doing everything wrong and hasn't made any money. He loves a good joke.
Gold is up 100% in Euro's these last 2 years as well so no complaining here... It's just this last run from 1200$ to 1350$ an ounce that can be largely atributed to USD weakness rather than gold strength.