Gold correction has ended

Discussion in 'Commodity Futures' started by GlobalFinancier, May 30, 2006.

  1. The Return of Gold
    Gold is ready to resume its uptrend. $656.50 spot at post.
  2. Just curious, because you sure have posted a lot lately about gold - and been wrong a lot as well on it. Why do you believe it's resumed it's uptrend?
  3. Yeah, I was wrong, about $10/ounce each time wrong. :)
    I sense a bottom this time due to
    1)cold sentiment
    2)strengthening oil(something else I was wrong on)
    3)bottoming intraday chart
  4. Ok, we'll I guess we'll see. Props for making calls on it, though.
  5. wizard3


    it may be ready for a quick upmove as stockmarkets go into free fall.....however there may be a longer period of consolidation before we have another major move over the old 800 highs.Has anyone taken a look at the chart of the rise in gold in the late 70s? It gives food for thought!
  6. contango


    I agree that we're bouncing off of oversold levels right now and the only way appears to be up from here. However, I think silver is looking like the more likely candidate for faster and better gains... The silver ETF has already taken a lot of physical silver out of the market and this can only have an effect on the fundamentals of an already tight supply/demand situation.
  7. 643.
  8. contango


    :) You're clearly not a position trader then.... I think this little dip is a great buying opportunity and that's probably what the funds are doing right now...
  9. zdreg


    what is your opinion of the $us dollar for 3 months 6months 1 yr vs. gold compared to the yen vs. gold?
  10. How do you judge what kind of a trader I am when all I did was post a number?
    #10     May 31, 2006