Gold - it's gonna blow

[YouAreNotFree]

what you guys think about shorting gold vs a silver long?

Nope. As a general rule they move together.

 

[YouAreNotFree]

Why do so many try and call a top in Gold?

Not only do we have negative real interest rates, funny money sloshing about everywhere, a financial system in disarray and bankrupt Western governments, but two safe havens have just recently been obliterated in the Swiss Franc and Japanese Yen.

What is left?

Only Gold as far as I can see.

 

[Atilla]

Why do so many try and call a top in Gold?

Not only do we have negative real interest rates, funny money sloshing about everywhere, a financial system in disarray and bankrupt Western governments, but two safe havens have just recently been obliterated in the Swiss Franc and Japanese Yen.

What is left?

Only Gold as far as I can see.

Not sure about gold anymore... You'd have to have nerves of steel... Perhaps one should buy steel...

Battles at 640, 1000 1250 1450 1650 and 1800 will be insignificant compared to battles that are likely to take place at 2000. I think it has already started. Will it go beyond 2000 not sure?

Certainly needs a breather... I still hold the view gold has to test support. A lot of titchy bears out there. Only longs for the very brave.

I'm no brave...

In fact I'm increasingly turning orange

 

[YouAreNotFree]

Not sure about gold anymore... You'd have to have nerves of steel... Perhaps one should buy steel...

Battles at 640, 1000 1250 1450 1650 and 1800 will be insignificant compared to battles that are likely to take place at 2000. I think it has already started. Will it go beyond 2000 not sure?

Certainly needs a breather... I still hold the view gold has to test support. A lot of titchy bears out there. Only longs for the very brave.

I'm no brave...

In fact I'm increasingly turning orange

It has possibly moved too far too fast, I wouldn't begrudge a large correction, I'll just buy more. I always say even though the price has moved quickly and may appear high, what is the value? Higher imo.

One thing I am looking at is Platinum and possibly moving some funds out of Gold into that. It's currently the same price, which is rare, yet from what I know of this metal this should not last long.

It's significantly rarer than Gold, 50% is consumed in industry each year and its cost of production is only slightly below the current price which effectively puts a floor underneath it. This week I'll look into it a bit more.

 

[Atilla]

Not sure about gold anymore... You'd have to have nerves of steel... Perhaps one should buy steel...

Battles at 640, 1000 1250 1450 1650 and 1800 will be insignificant compared to battles that are likely to take place at 2000. I think it has already started. Will it go beyond 2000 not sure?

Certainly needs a breather... I still hold the view gold has to test support. A lot of titchy bears out there. Only longs for the very brave.

I'm no brave...

In fact I'm increasingly turning orange

I reckon gold is set to blow. I'm guessing it will get to 1865 and then drop fast and hard...

Placed some limit orders to sell at 1850 & 1860 with hefty stops...

We live in interesting times...

 

[YouAreNotFree]

Are you aware of the new Asian Gold exchange that is opening shortly?

This is serious stuff. With what they are offering I believe it will be a game changer. Look it up, it should be very interesting to see if/ how it shakes up the current status quo.

 

[Atilla]

Are you aware of the new Asian Gold exchange that is opening shortly?

This is serious stuff. With what they are offering I believe it will be a game changer. Look it up, it should be very interesting to see if/ how it shakes up the current status quo.

No idea purely technicals.

 

[YouAreNotFree]

http://www.youtube.com/watch?v=IVUeXVN7J6g

 

[YouAreNotFree]

Potential double top on Gold Daily chart with bearish MACD divergence. Way above its long term trendline too.

Hoping for a pullback to accumulate a bit more, i'm going to need it because this crazy currency war is escalating.