The fed will keep printing money and stop raising rates and you think that gold is going down?HaHaHaHaHaHaHaHaHaHaHaHaHaHa
Technicals: Monthlies: CCI 14 is right on the important 100 level after spending EXACTLY one year in the stratosphere. IMHO it's going to bounce of this major area of support (CCI 100 level). The weeklies - Price action established the up trend 2 weeks ago, last weeks price drop is a pullback from that to go to it's next major swing point. Don't know if anyone is noticing but an inverted head and shoulders formation is forming on XAU/USD dailies. This past Fridays evening star is the head. My 4 hour fib time projections indicate that either Tuesday US session or Asian/European session on Wednesday (most probable) will be ready for take-off again. 627 as I write - down to 613 by mid week and then 666 watch out!!! Not much sleep for me wating for this one. Sidenote - sometime 2012/13 we'll see 1500. (1.618 Fib ext. of August 1999 low of 254.10 and this past Mays 730.25 multi year top).
Yes, as that printed money isn't finding its way into circulation any more. That's deflationary. Then it will drop interest rates as all assets drop in value, including gold (all red days). Then, you can buy some more. And it may go up. Are you so eager to throw away your money buying it high?
Very interesting. Other succeessful gold bugs see $1650 sooner than that. J Sinclair for one... GLTA.
Hey NazdSpecialist, I would love to see a chart of your fibonaccci projections if you have one handy. I am having a little trouble following your analysis, but it sounds good!
Iâve been asked this before: Suffice to say that swing hi/low projections is NOT the way it is best used. PS And no, this Wednesdays New moon is not something that I think is the reason for the swing reversal
Throw my money away?I've tripled my net worth since Jan 2002,the majority of this in the precious metal sector.Iquit my job in April and just manage my money now.If you are so sure,go buy some puts.The first week in december I'll be taking more profits.
What will the price of GLD be in 100 years if no "new money" enters the fund ? hint: they charge 1% of assets per year in management fees.