Gold and silver is frequently mentioned in the bible, which has a large global captive audience, it's good marketing, so there is an alure to gold, an attraction which reels people in. Indians, Chinese, Italians, Middle Eastern and Mediteranean nations in particular are attracted to gold for jewelry and hoarding. Numerous reserve banks around the world hoard gold, In Australia in particular, the mining sector is huge for gold, there is much focus on it. Gold bank reserves in tonnes United States 8133 Germany 3359 Italy 2452 France 2436 Russia 2302 China 1948 Switzerland 1040 Japan 846 India 754 Netherlands 612 Euro Area 505 Taiwan 424 Turkey 394 Portugal 383 Kazakhstan 368 Uzbekistan 362 Saudi Arabia 323 United Kingdom 310 Lebanon 287 Spain 282 But like fishing tackle marketing, the lures hook in more people than fish. Tell me this, when countries are at war or in distress, what good will gold do for you? If you attempt to barter with it on the street, you will discover a huge spread.
Ya, I've given up on gold, I find its a commodity too difficult to know what it'll do next. There are other more suitable commodities/metals. The problem with gold for the trader which I have, the high level of media attention which it gets, very difficult not to seccumb to the temptation of the attention it's given.
... Mick, say it ain't so. That mean ol bieatch is gonna make a run to 1900. lol. https://www.elitetrader.com/et/threads/charts-for-no-reason.344272/page-24#post-5606773
GC finally came alive and reversed early downtrend closing (very soon) $50 off LOD. Not bad. Now do that once a or twice more and it'll be saying something.
Right this past hour I've been looking at gold stocks, maybe because Friday was rather outstanding in terms moves relative of everything else and gold caught my attention (again) from a different perspective. So I was adding 1+1, gold imo is highly manipulated and I may have figured a way to daytrade the manipulation. I'm going to run some paper trials next week (Monday on ASX however is a holiday) and see if there is a probability opportunity. I'll plot results on a spreadsheet for a week or two.