$3,000 Gold Price Forecast from Merrill Lynch/BOA

Trump pulled another inside straight....markets reversed HUGELY (reminds me of post-Crash 1987).

Gold still up nicely but a bit of a pullback.

 

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How do you make markets climb by 10%?

Start by making them tank by 20%.

 

The markets proved that day to day they could fall, fall, and fall some more. Having them reverse that trend and pop up in the single biggest day ever wasn't good enough for you? They should have continued to fall in order to make you happy?

You can please some of the people, some of the time. All of the people none of the time. And then there are some people you can please none of the time. Jeff, your colors are shinning through brightly.

Can't expect the entire recovery to happen in one day. Gotta give it at least 36 hours

 

Oh, I'll be happy as a clam if it does recover all the way. I'm also not averse to short-term pain that leads to long-term gain. I just remain unconvinced about the long-term gain.

But, really -- if you've got a position worth $12K, and it drops 20% to $9.6K, then pops 10% to $10.56K... it's probably not time to pop the champagne corks just yet.

 

Lol, my market exposure is not quite those numbers. My losses the past couple of weeks dwarf those numbers, exponentially. So your proverbial cork reference will certainly not be popped anytime soon. However, it does encourage me to see the volatility go in both directions, not just down. And my recovery just today makes me smile quite nicely.

 

You reckon that somebody profited on that?

 

Looks like the cat's coming in for its second landing.

 

But...what's one's acquisition and holding costs for the that $12K of 'worth'. I'd be more worried about the reduction lower than my costs.

 

Shiny objects like.....

 

Someone is always profiting on the up and downs of the market.

Nothing wrong with that.

Unfortunately, we have a financially ignorant media which aside from the biz channels can't explain finances with their Art History or Sociology degrees. Then you have the American people believing in conspiracies to rig the markets or that Wall Street banks were "bailed out" when it never happened.

 

Gold up over $100 again today.

 

Holy crud! I am way off the grid today. Did Wall Street come back as hard as PM’s?

 

Eh...we were down 2,000 on the DJIA and came within 1% of triggering the NYSE trading limit circuit breakers. We cut the losses in half by the close.

Gold up another $50 overnight.

Gold will peak when I have all the money I need to buy my Saints. I'll let you guys know when that happens so you can all sell.

 

COMEX Gold up to $3,250...up $80.

There are simply NO sellers. It's a classic accumulation asset. Hate to use the analogy, but it's like the 1970's without the gas lines and inflation.

 

Yep $3238 right now, amazing!

 

new record high, time to go buy more

 

I've been looking to the skies for shiny objects my whole darn life! Nothing I tell you.

 

mpcusa,
Why didn't you buy the dip the other day this week, (Tariffs were delayed or paused for 90 days) learned on here to try buy the dips not when it's the record high am I missing something?