It now appears that we have some short term support right at 660 cash as the selling has abated for now. We could likely see gold rally up to 665-670 max before the sellers reappear. XAU/HUI also seems to confirm some type of short term low here as well. Right now the gold indexes are showing a stair-step down pattern with the 3rd and likely final step down to occur sometime next week. I think that the final step will give us the low for gold in the 640 area. Traders should be real nimble here as some pundits are already calling for an extended correction in gold which I just don't see happening. Gold is still in a well established bull trend and prices at the 635-640 will likely mark the low point for the rest of the year imo...
LOL, the Russian Central Bank was the big buyer at $650's before. What makes you think YOU are smarter than they are *BIG*?
What makes YOU think that THEY will be big buyers this time around? What makes you think your so smart?
WHO is the ASSHOLE, here? WHO was RIGHT? Is it too far fetched for your comprehension that there might actually be REASONS why things happen? Lowlife!!!
I have a right to an opinion no more or less than you or him. Add to that his insults Add to that that I was right and he was wrong And now we can add your insults to it, huh? I'm STILL right.
Here is something I haven't given much thought to before, but is very relevant. If one looks at charts GCM7, GCQ7 and GCZ7. They all look a little or a lot different. One months chart will show a certain chart pattern like a right angled triangle, while another month will not show this. One months chart will show price at a long term trendline, and another will show price far away from the same trendline. What is one to make of this? What chart should one be looking at?