Sorry about your stomach Kill, Gold historically drops the last two weeks of Oct. After today I just may short it for a few bucks.
in the last two years gold has done very well the last two weeks of Oct. I just read a great paper on the determinants of the gold price --> http://econwpa.wustl.edu:80/eps/fin/papers/0403/0403003.pdf they are... 1. currency purchasing power 2. inflation 3. inverse of price earnings (this was a big suprise to me) this cleared up a lot about the possibility of gold rising during a deflation. if p/e ratios rise, gold likely rises too in almost any environment.
ha, i just mentioned the last bit to Kudlow in an email and he read it on air. even called it a good point, LOL.
The seasonal seems to say that being long here is going against the flow. KaW, thanks for the link to article.
higher overnight so far after a huge day today to the upside ... www.bloomberg.com/apps/news?pid=10000081&sid=aWCV74GKcqMo&refer=australia maybe later this yr I will sell some silver dollars I own
looks like in the short term once again precious metals are outperforming any of the fiat currencies ... ADEN sisters comments below .... www.kitco.com/ind/taf/nov162005.html (gotta love those newsletter writers though at the end of their bullish commentary one see this note ... ) -Gold could then decline in a downward correction to test its major 65-week moving average now at $427, but the major trend would remain up.- in other words ... a highly leveraged trader could be wiped out on any wild drop to the 65 week MA , but the Aden sisters would still be bullish on gold and gold could of course run its course higher (but without the trader who lost his trading stake)