when bernanke didnt "taper" that was the time to get out of gold and silver investors holding onto gold on the way down remind me of dot com investors holding as the bubble collapsed in the context of higher interest rates gold wont go up, and neither will commodities. even during the syria escalation crude went up only a couple of bucks. they've been saying that the US will collapse since 1776, but people's investments accounts will collapse first if they stay invested in gold/silver
You probably right in the short term, but I would disagree to compare gold to the dot com bubble. The bubble is in the USD in the LT, and paper currencies generally.
========================== Jeb 9999; Well while plenty of money has been made in metals with %% MUCH lower than that; but no,75%goal not good enough for a HI %% trade, for me . Not saying ANYONE can hit a goal all the time; or even a Hi % goal, nor am i suggesting anyone even aim @ that number, but gold,GLD is trending up on most timeframes . Not a prediction, wisdom is profitable to direct
For anyone interested in actually investigating seasonality in gold, or looking for some fundamental info, you should google "indian festival 2013 that use gold". Check out the Diwali festival and it's correlation to the gold price for example... don't bet your house on it though.
September didn't work, but October has a negative seasonal tendency for gold. We'll see how that goes.
Hahahaha, you remember that infomercial too, Blakpacman? Jake even have 200 years of data on corn and wheat to back up his claims That said some of Jake Bernstein books do have some merits, especially the Complete Day Trader I and II.
"Euro zone inflation drops to 3.5-year low in September as expected." http://www.reuters.com/article/2013/10/16/us-eurozone-inflation-idUSBRE99F08U20131016
"Buy USD!" has absolutely no meaning, you need to sell a currency to buy another currency. Same thing for EUR and JPY, one currency must be exchanged for another. Correct way to say it, for example : "Convert your gold to Swiss Francs and buy USD" (Now you are betting that the USD will appreciate against the Swiss Franc)
Site below has data on the etf GLD's # of tonnes. It continues to make new lows as investors divest themselves of GLD, thus putting some downside pressure on the gold price. http://www.spdrgoldshares.com/usa/historical-data/