Gold going straight to the moon!

Discussion in 'Commodity Futures' started by lilduckling, Oct 8, 2009.

  1. I been pecking at gold since the first quarter.... boy was I correct in doing so.... however we are nowhere near the big moves that are to come!

    China getting concerned with all that american paper they're holding........ and talk of countries switching out of the ever weakening US dollar is getting louder and louder. Couple that with the fact other countries are buying gold as a hedge against their own currency and inflation woes, we could easily see gold at $1700.00 / oz by 2010!
  2. Lethn


    I wonder where the federal reserve vault is going to go? :p
  3. But surely China, if it were to buy gold, wouldn't do so in the mkt?
  4. If this pace keeps up, it'll be at $1700 before 2010.
  5. Well, I'm benefitting too. This one gold miner I own is up over 60% since I bought it. We will see if this rally holds...

    One issue is that Fed banks are asking for rates to rise.
  6. The fundamentals for gold are good, but I did not expect 1060 this soon. I am staying clear of futures because this sucker is getting out of control. Looks like the Comex shorts got annihilated at 1000, you can't make a killing
  7. Oh, there's no doubt this is going to end badly. I'm jumping in and scalping as much as I can to the upside, but I'm nervous as I do it :)
  8. what scares me is we may see 100 point days in both directions , before this ends.
  9. 1067-1068 is where I'm selling what i've got and not buying anymore until a convincing break of 1080.

    I may even try an against the trend move and short that level to see what goes on.
  10. The stuff that scares you...makes me happy. :D
    #10     Oct 8, 2009