Jim Rickards & Peter Schiff 2016 - Gold market, Global Economy Forecast

No two people have ever had more correlated views but they do have a good point on GLD...

 

I Bought A Few Thousand GLD Calls Today, Will Get More if it goes lower, I think GOLD bottomed, I don't Care What The Options say, I don't run with the herd. Bellow the 76.40 Fib now on the daily.

 

That's a lot of failed past predictions in that one room.

 

They generally are incorrect, but now and then they are correct in a big way.

 

its a short till it can get above 200 day MA, most short stops are at that level... the longer it fails to test the 200 day MA, the 200 day MA stop moves down incrementally, locking in profit for the shorts.

 

Gold is kind of in no man's land. Some say markets are in search of price. I would argue they are in search of volume. Ask where would the biggest amount of volume resolve? The answer at this point is under the last major low.

 

Just like Gramma's clock. Twice a day, it's right on time, exactly, perfectly. Amazing.

 

"Gold will go up $100+ overnight if Trump wins"- Jim Rickards