Good thing that your here to warn us Skol--since 2009 LOL
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Good thing that your here to warn us Skol--since 2009 LOL
Just starting
Could be more downward movement in gold but the sharemarket is starting to look dangerous--see Hoops last entry on US markets[s&p 500] thread
http://www.youtube.com/watch?v=b4zOAHoncF0 tells us why Gold is about to take off because the bond bubble is about to burst (at 28 mins ) but whole 29mins very int
For punters with what could be regarded as a normal allocation of gold, a few %, they'll be getting a good nights sleep, because as gold falls other assets like property and shares are rising, but for overexposed goldbugs this must be a very tense time.
When an asset rises exponentially and then spikes nearly vertically as gold has done it normally ends badly, with a major fall, in this case if gold goes below $1500 it's a very rocky chasm underneath.
Gold is gonna one of two things, rise or fall, and I'd give it an 85% chance of falling, given that nothing falls in a straight line and for the first time ever I've noticed more bearish news items on gold than bullish.
Sentiment rules; interest rates, bond crash, Fort Knox is empty, war in the ME and all the other goldbug fantasies don't mean much at all.
In the last 12 months
S&P500 +11%
Gold -11%
Silver -19%
"Even a blind man can tell when hess walking in the sun"
Gold spiked vertically in the 80s[when I assume you got burned]
This time around it has been a gradual rise.
Doesnt mean gold cant go down--it most certainly can,but this is a different scenario than in the 80s.
To equate the underlying reasons as the same as when you were in the market is not good logic.
Meanwhile theres alot going on this week [fed meeting-reports on the state of the US economy-Italian elections]so I think it will move one direction or the other depending on these outcomes rather than a week of cruising.