Gold may be on the verge of a major price collapse

I have been plugging away buying UUP(dx etf)..I prefer trading in cash..lil bit everyday for the last 2 weeks. My only regret 1 year or so from now will be that I didn't go bigger i`m sure.

Trades like this do not come along everyday.

 

thanks for the buy signal.

 

Its now almost exactly at a 50% retrace of the upmove from $726.

If this doesn't hold, I'd guess to look for support at $750 to $760 next.

Its all about the dollar, IMO, not gold.

 

You should be buying gold here aggressively and silver as well in 2 years time it will be 30 dollar silver and 1000 gold nuff said. Start buying

....what a ridiculous post by the originator of the thread.

BUY BUY BUY BUY BUY

and juts in case you did not get that BUY BUY BUY some MORE.

 

I agree with you on the need to eliminate the carry traders and other weak hands. But once that is over, gold should rally hard and long. I am looking for a short pullback (to perhaps 750) like we saw in December 05, and then a strong rally. If you check the COT reports from that time, you will notice that speculative positions stayed high throughout that rally.

 

For this to play out, would not the dollar probably strengthen?

 

All I see is a nice buyable dip in a raging bull market.

East-Asians love to hoard their gold bullion, so I don't see gold weakening much at all until the Asian Tiger quits roaring.

 

Gold Chart with Fib. Ratios

Regards,
Suri

 

with this kind of printing press running flat out....

me bets on gold.........

 

if you want to hold gold, just do some serious "dollar cost averaging" to lower total per ounce price. No one really knows what it will do, but...