Discussion in 'Metal Futures' started by GlobalFinancier, May 30, 2006.
The Return of Gold
Gold is ready to resume its uptrend. $656.50 spot at post.
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?
Yeah, I was wrong, about $10/ounce each time wrong.
I sense a bottom this time due to
2)strengthening oil(something else I was wrong on)
3)bottoming intraday chart
Ok, we'll I guess we'll see. Props for making calls on it, though.
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!
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.
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...
what is your opinion of the $us dollar for 3 months 6months 1 yr vs. gold compared to the yen vs. gold?
How do you judge what kind of a trader I am when all I did was post a number?
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