GFED

trade idea for tomorrow...

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Unlimited potential... $500 max risk...

Vendot

Market is up and Gold is down 1% right now. The question is whether it stays that way or another possibility. We have a long weekend coming up and no-one will want to leave their positions open so maybe the market sells off at the end and Gold gets a pop to the upside before the close of business.

De ja vu from 2008

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Sednub997

Speculations are always here.maybe its not the best moment for buying gold

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mce

As I said, it will fizzle out.

DJIA recovered today.... Net result: Gold down

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GFED

lol, recovered...

Vendot

The DJIA was a dead cat at best but Gold fell only like $12 off the day before which means the up trend is showing a little bit of resilience. It's going to be meaningful to look out much further than one day - try three months.

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Vendot

Mark Cuban is in the game:

Mark Cuban sparks 'berserk' bets on gold - Yahoo Finance

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GFED

Yes, just some people covering for the extended weekend... while others like myself took the opportunity to better position shorts.

DBS.US

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arock10

He says it's just a short term trade based on psychology... Aka people making threads like this

Not to say everything is all right, but I've always said I'd buy guns before I bought gold. Can't eat gold

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Vendot

True but you can't eat guns either

The point is that money comes before guns and food because you can't get either without money. Gold and Silver is basically just money and the notes in your wallet are just currency. People will learn a lot about this over the next decade.

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arock10

gold and silver has no practical value when people are hungry... Pretty sure people can figure out a way to eat with guns

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Vendot

I've heard this many times before I find it an illogical response. You're just saying that money has no practical value when people are hungry. You may be right but then neither does currency and you still have to pay for food. So, why does that make it less desirable to exchange currency for money? The two things are unrelated.

I prefer to convert some of my currency into money because it will help me preserve wealth and protect against inflation - a gun wont perform that function. That does NOT mean I do not want to eat food, its an entirely separate issue but also taken for granted since we all (and almost without exception) have to eat food.

If it wasn't taken for granted then the title of this thread could be: "Time To Buy Food?"

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GFED

Being wrong or right doesn't matter.
The only thing that matters is being prepared.

Houdini

Bear market rally. Will see new lows in the following months. Great short opportunity.

Vendot

The gold price is $1220/oz at the current time.
The low over the last 5 years was $1050/oz

I'd be surprised to see new lows in Gold this year because there are also geo-political events, quite apart from economic factors, that have to be considered.

It'll be very interesting to see if you're right so lets revisit this thread mid year, maybe in June?

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GFED

Nikkei 225
INDEXNIKKEI: NI225 - Feb 15 3:00 PM GMT+9
16,022.58Price increase1,069.97 (7.16%)

WTF?

GamblingDomains

buy low, sell high

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Goethe

Nikkei had fallen from 17,900 to 15,100 from 1st February to last Friday. From memory, it fell 5-6% last Thursday or Friday alone. Today's rise was understandable given that Europe and US had strong gains on Friday and China was back on board today too with a +3% day. Europe up again quite healthily today and US futures printing good numbers. May be a bit more pain for gold over the next few days.

GFED

Well, it needed to take a breather. Hopefully we'll get some consolidation here and see more price acceptance at these levels. It was getting a bit thin.

Sednub997

Its dropping down isnt it

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GFED

Things don't go straight up forever. Look for a higher low to get in on momentum. It hasn't even pulled back to the 10 or 20 day moving average.

Goethe

Goldman saying it's time to sell on Bloomberg

Goldman Channels FDR's `Nothing to Fear' With Sell Gold Call - Bloomberg Business

onwebcam

I'd do the exact opposite of what they say. They've been caught many times manipulating gold and silver.

Ten Banks, Including JPM, Goldman, Deutsche, Barclays, SocGen And UBS, Probed For Gold Rigging | Zero Hedge

GFED

You guys understand that it's those banks and hedge funds that are selling off the markets? I'm wrong all the time. I wouldn't trade stocks if I was afraid of being wrong. But I don't think we're in the clear yet. I bought puts against my position on Thursday because I expected this shake out to happen over the weekend. I'll believe the market is going back up when XLF starts leading the way.

Not everything is bearish, XLE, XLI, XLB, IYT, are showing relative strength.

Vendot

Caught? Barclays was caught, prosecuted and fined for it (just the tip of the iceberg and just a slap on the wrist):

Barclays Bank fined £26m for gold price failings - BBC News

Exactly right. Goldman is again putting out stories for their own financial gain.

Now that gold has re-established its negative correlation with the stock market and interest rate rises are off the table, there's a good reason to own gold. Of course, the stock market was closed on Monday and so gold made it moves based on other cues but definitely I hope we see Gold pull back somewhat before the next leg up.

Target $1150 for a firm base.

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Vendot

Could be a great time to buy.... though for this, I'd play it with the gold/silver stocks.

If you end up with a president that "grabs em by the pussy" it will be a BREXIT scale shock that (it has been said) could push gold up by up to $100 USD/oz. This all happening around the time of year when demand is at its highest due to buying in Asia. Hang on to your hats folks!

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