Long Gold - page 3
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Paul Tudor Jones, managing $11.6 billion, is suddenly bullish on gold as he is concerned with inflation and increased purchases by ETF funds. Gold is just about flat today.
Gold continues its orderly descent in price, but there are so many dollars, pounds and euros being printed that real assets will go up in value. Anyways, there is a seasonal low in this part of the year and with gold appreciating for a second monthly gain, a consolidation period is to be expected.
India's purchase of 200 tonnes of gold last week led a huge push upwards for the price of gold. With the price at 1095, it looks like it's march to 1200 will be sooner rather than later.
Gold continues to be a mirror of the dollar. Dollar up today. Gold down. Yesterday, reaching 1,111.70 it reached above the 70 level on the 14-day relative strength index. Expect some consolidation from this point, but still bullish long term.
A close higher today would be the longest rally Jan 4, 2006 as gold was up yesterday for the 8th straight day. An all-time high of 1,118.60 was reached intra-day.
A long time gold bull, Eric Sprott says that gold is picking up momentum and analysts are saying that it's not too late to get in even though gold hit a new high last week and is up 26% year to date.
In the gold to trade must now be careful. Gold is overbought and during the crisis all the proceeds invested in it, now the crisis is over, gold will be sold.
gold is still having a uptrend...if im not wrong lot of ppl in india are buyin gold and thats one of reason the prices are going high.
there shud be a downtrend soon.
What do you think, to what level will increase the gold?
The price of gold started to climb when the financial crisis started two years ago from 300.00 a troy ounce to over 1500.00 a ounce but why?Do people think gold jewelry would compliment them better than platinum these days?
No...this is a transfer of wealth from paper money that can be worthless due to country debt and inflation to something that has held value for thousands or years...gold.
Since the colapse of the major banks and economic uncertainty smart money wants to move their cash stocks to gold bulllion .999% pure that can be bought and stored in a safe deposit or vault until the world superpowers get their act together.
This is a trend that the worlds most wealthy have been taking like a new pair of shoes that is popular with school children.In my opinion this is just another market created overnight by the ever resourceful brokers at the top financial firms to make a buck and keep those quarterly reports solid for share holder confidence sake the same type of people that would have you buying stock in water if they could create a crisis that was believable.One market crash create another.If they get desperate enough you will here about a *world shortage of silver* and you guessed it 400.00 a troy ounce silver?!
Its about the dollars always the dollars.
The truth-The world will not colapse and doctors of economics have counted this financial situation as nothing more than a market cycle that will take a few years to correct as it took a few years to go into the short.Just like those shoes so popular by the school children today gold will be out of style again once the new fad comes along.
The new fad is the next crisis and the product created to serve the fears of that crisis.In world war 2 era many people thought there would be a nuclear bomb dropped on united states.If you had money and were wealthy you as a responsible person invested in a bomb shelter,radios,rations and such to sustain you for the long run.
Bomb shelter manufactuers became rich overnight due to fear and uncertainty created by the war the same way gold bullion brokers became rich do to the fear and uncertainty created by the *financial crisis*.