It's not the 'rest of the market', something's out of whack, either gold or gold shares and I'm picking gold, I can't find a single gold index that's up for the last 12 months.
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Hello Skol, are you still out there? Merry Christmas to you and yours. Here's a bit of Southern input into the gold price for the next while, we'll see how accurate it is. From the Moneychanger, yes, he sells gold and silver, so there might be a bit of bias. Thought you'd enjoy it..
Back up the truck on any dips.. (DYOR).Quote:
It now appears that gold MAY have bottomed at $1,562.50 and silver at 2812c. How will we know? Both metals will rally from here, reaching perhaps $1,675 for the GOLD PRICE and 3200c for the SILVER PRICE. Then they will react, correcting downwards toward but not necessarily all the way to those previous lows. IF they can hold those levels, perhaps not quite reaching those levels, AND then turn up again, THAT is our buy signal. If they cannot hold those levels, then we wait to buy. EITHER WAY, we will be buying soon because the bull market has NOT ended and this correction offers us an opportunity to load up the boat. Recent news out of Europe shows that the ECB will print as much money as necessary to try to float Europe out of its bank solvency crisis. In other words, it will repeat the Fed's 2008 inflationary paroxysm. The cause remains, the trend continues. Count on it, and ignore the self-appointed gurus who are prematurely announcing gold's funeral. As we say in the South, they are a "mite previous."
So It looks like physical gold has come on top this year between gold -gold shares -and shares in general
Probably for the last time. Gold shares have been lousy performers and my guess it that the gold rush is over. Gold down again today and DJIA up.
www.cnbc.com/id/45769986
Time to exit gold and buy shares has arrived.
Merry Xmas to all you guys, especially to those in Christchurch, I was there for a couple of hours yesterday.
Correct Skol, shares have outperformed gold over the last month. But over the last year?Quote:
Skol: Gold shares have been lousy performers and my guess it that the gold rush is over. Gold down again today and DJIA up.
Also worth at look at this site, another graph that is interesting:
From Reuters:
Silver and gold speculators cut their bullish bets for the third consecutive week in the week to Dec. 20, with silver net long positions down by more than half, said the US Commodity Futures Trading Commission