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Yep another great night for gold, really want to see gold break above $1420 before getting too excited. With the ETF selling seemingly completed (well at least for now) & Asia still buying, gold could be in for another big run. The US data has been mixed in the last week or two also adding to the equation. Gold stocks outperforming gold as expected & should see more on Monday following on from gold's performance on Friday night. Portfolio closed up 12% on Friday, be pretty happy to see similar again, but that's probably pushing it...
Moosie, as far as I'm aware Soros bought call options in gold juniors when he sold out of his gold posi. So he was long gold juniors. If he did go short he would be down a truckload as gold juniors have shot up double digits in recent weeks.
Not sure Mid/East has had that much impact on gold although it is a contributing factor. Stock markets have been taking a breather & some of the US data has been less convincing of late which I think has more to do with it & of course shorts covering.
Shorts covering Daytr, do you mean banks like JP Morgan Chase? Equedia had this item on the weird NASDAQ trading halt, probably caused by rapid trading in AAPL as it dropped below the magic $500 a share. Further on it shows JP Morgan buying up Comex gold in a big way.
http://www.equedia.com/the-truth-beh...m_medium=email
elzorro, I just meant the speculative market generally. Everyone was so bearish & the market got far too one sided when it was pushed down to $1180. So since then a lot of those short speculative positions would have been covered, i.e. bought back. The market is yet to go long imo & if does so we should see it back toward $1550. The Mid/East is certainly heating up especially likely intervention in Syria so we should see gold get more out of that yet.
If it mirrors 1980, which it has almost exactly, could go to around $1,500 before it begins its final decline, probably for 20 years.
some big gains for Goldies again today in the ASX200 ....
Hey skol how about a update on gold silver