I understand the peoples temperament on the weak economy and their willingness to invest in gold but how much higher do you believe this can go?
Never trust what you hear. Believe half what you see. Did they show you their portfolio? Did they had long positions in gold ? How much relative to their net worth ? Lots of guy talk. They say To be bullish. But behind the scene it's not in the game. They talk ...... But without skin in the game. By how much something will move ? If you know it's going upwards. You already has a fortune. By how much ? Billionaire. One of Livermore's first rule: !!! Never trade on other's tips !!!
There is no upper limit to where it might go, it all depends on the stock market: the lower the market goes - the higher the price of the gold.
All is said. "Comin soon". The problem is that being right 1 month, 1 week or sometimes even 1 day too early and you are broke, out of the game. Noone got unlimited ressources and can hold forever adverse positions. Timing is key. So don't speculate, just follow the trend 'til it ends. On a ST basis, Gold could easily go to 1300 dollars without any correction. CM
Went short yesterday, I don't have a clue if it will go down up or sideways, program is automated, let her fly. Gold has to get down to 904 before system considers where to start buying. Trading much easier when you get down to not caring, I am just a robot.
trading has not much to do with 'thinking' what might happen ... just watch your charts and react ...
Open Outcrier @OpenOutcrier 1h1 hour ago Lines Around The Block To Buy Gold In London; Banks Placing "Unusually Large Orders For Physical"