IT TOOK ABOUT A YEAR YEAR AND HALF LAST TIME TO GO TO 900 AND THEN ABOUT 2-3 WEEKS TO GO BACK TO 360 SO IT WILL GET UP THERE AGAIN AND THEN I WOULD SELL THE HELL OUT OF IT BECAUSE THERE IS NO REASON FOR IT TO BE UP THAT HIGH
HOLLYWOOD NEEDS TO GO BACK TO TOPGUN AND LEAVE THE MARKETS TO TRADERS AND WHILE YOU ARE AT MIRAMAR SAY HELLO TO GOOSE AND MAVERICK
EmAy -how are those shorts today.I'll even be nice and tell you to look at the gold chart ,2002-2005,at the months sept -Dec.,and you will see that every year at this time gold rallies.Keep in mind ,just because you think its too high, does not make it so .If the g-7 central wouldnt have managed the price of gold every, year it would much higher than it is now.Not to mention the fact that our own country is insolvent,and will have to continue to rely on other countries to buy our debt to keep this dog and pony show going.Goodluck .You are going to need it.
Technically, hollywood is right, at least in the christmas lead up. Not often does it fail to run up towards december, and it just so happens this is looking more and more like a basing pattern.(go figure) Someone mentioned, goldman sachs looked tankworthy. thats bullish for gold, what more do you need? And reddec, whats with the shouting?
IWAS RESPONDING TO THE FIRST POST DO YOU THINK GOLD WILL GET TO 1000 AND MY ANSWER IS ACCORDING, THAT IS NOT A QUESTION ON A CHRISTMAS RUN UP IT IS AN OVERALL GOLD QUESTION. i DON'T THINK BY CHRISTMAS IT WILL RUN UP TO 1000 ESPECIALLY AT THE PACE IT IS MOVING AT RIGHT NOW, IF ANYTHING SILVER COULD MAKE A NEW ALL TIME HIGH BY DEC.
Interesting (and rare) commentary from Ted Butler on gold. As most know his passion is silver, but he is a seasoned interpreter of the COT report and follows it for a number of metals. Anyway, here's an except with the link to the whole article following: "The current structure [the COT] in COMEX gold futures is far from negative. It is downright great. What that means is that the gold market is not structured for a significant sell-off, but rather is structured for higher prices. How much higher is hard to tell, but the up move could be significant. It all depends on the how aggressively the dealers sell short on the next rally. The important thing is that gold should not go down big from here. Anytime you get low downside and potentially big upside that spells opportunity." http://www.investmentrarities.com/ (click Ted Butler's Commentary in upper left)
Reddec- Gold never hit 900.The highest it reached was 853 and it took two years and two months before it saw 360 again.I agree with you that gold wont hit 1000 this year,maybe not even next year,but it will happen.It will all depend on dollar vauation, or should I say devaluation.Central banks will continue to manage the price of gold on its way up,even though their ability to do so is diminishing.So gold will continue to grind its way up ,with occassional profit taking and seasonal ups and downs.The original trigger was last year at the end of august when the fed announced they would stop reporting the m3 money supply.Gold was at 435.By xmas it was 515.The first time the fed stopped reporting m3 money supply was March 24-31, 06.Gold went from 570 area toto over 730 in 7weeks.The fed basically told everyone ,we're going to print so much funny money that there is no sense telling you much it really is.The smart money took gold from 430-630,hegding against more dollar devaluation.From 630 to 730 was spec. trading.So the P.O.G. settled out right about where it should be.The smart money isnt going to sell with gauranteed dollar devaluation.And by the way , your insecurity is showing when you make childish commentsl like that.
GO BACK AND CHECK YOUR CHARTS BECAUSE THE DAY BEFORE IT CRASHED FROM THE HIGHS IT WAS ABOVE 900 I KNOW THIS BECAUSE i WAS ON THE COMEX TRADING IT FROM 300 A YEAR PRIOR AND SOLD A POSITION OUT ABOUT THE DAY BEFORE IT CRASHED BECAUSE WHEN IT CRASHED IT WENT LIMIT DOWN FOR ABOUT A WEEK AND HALF STRAIGHT, HALF THE METALS HOUSES WENT UNDER FROM BUYING SO MUCH GOLD FROM 800 UP YOU COULDN'T EVEN TRADE THE MARKET FOR THE FIRST THREE DAYS, LIKE 2 CONTRACTS GOT TRADED IN THAT TIME, BUT NOW IT HAS ONLY TO DO WITH NUMBERS SUP/RESIS SINCE WE DON'T USE GOLD TO BACK OUR MIGHTY DOLLAR ANYMORE IT HAS NO USE OTHER JEWELRY AND SOME ELECTRONICS COMPONENTS AND AS OF SHORTAGE THERE WAS WAY TO MUCH OF IT WHEN IT WAS AT 300 AND WE HAVE ONLY ADDED TO THE SUPPLY AND AS TO YOUR REPORTS ITS A FUNNY THING THEY COME OUT WITH THESE REPORTS AND WITHIN A WEEK OR A MONTH LATER WHEN THEY COME OUT WITH THE REVISED REPORT IT COULD BE THE COMPLETE OPPOSITE SO IT DOESN'T PAY TO LOOK AT THEM AS FACT. THE NUMBERS A MARKET HITS IS WHAT TELLS YOU THE TRUTH. PLUS THE METALS HAD TO GO UP BEAUSE THE FUNDS HAVE RAISED SO MUCH MONEY THAT THEY NEED TO INVEST IT SOME WHERE. THATS WHERE ALL THE NEW VOLUME RECORDS ON ALL THE EXCHANGES ARE COMING FROM. AND LIKE THE OLD ADDAGE BUY LOW SELL HIGH. GOLD WAS AT ALL TIME LOWS SO WOULD IT BE A SMART PLAY WHEN YOU HAVE BILLIONS TO INVEST, IT BEATS BUYING MICROSOFT SINCE ITS MOVE HAPPENED IN THE 90'S. WOULD YOU BE BUYING GOOGLE ON THE HIGHS,NOPE THE SMART PLAYS IS DEPRESSED COMMODITYS THAT ARE CYCLICAL.