I love gold longer term, but near term, I think its going to correct to at least 870 levels, its next major support.
if you're looking 1+ years down the road, this could be a good time to start loading up on gold. fake rally in the USD and US markets. once fear jumps back into the fray gold will go back up even higher.
hey thanks for your support. Looks like gold is moving higher as well as other commodities: Oil 119.44 0.92 0.78 Gold 895.60 5.90 0.66 Natural Gas 11.08 0.12 1.09 I just don't see any catalyst for gold going glower that isn't already priced in.
GLD up 1% while market is flat The dollar ISNT gonna rebound. Don't bet against the Buffets and Sorros GLD going back to 93... werd
I only bet with the market, all these opionions get you in trouble. I expect a certain outcome and if it is correct, I make money just like my gold trade. I posted that chart a few days ago. Apparently, it was that easy this time. Sometimes when I am confused about a market, I ask my children which direction that they think it is going to go. Since they know nothing about Warren Buffet or Soros, or over analyze the market.. They usually make the correct call. They just say "daddy it looks like it is going down" Good luck all
I'm not long though so I'm not financially impacted by the direction of gold. But shorting when the chart seems 'at its worst' almost never works out as easily as planned. GLD is down 2% ..if you can make a good profit shorting then will you take it now or wait?