just the other day it was dropping like a rock, bound for sub-900 .. now its heading to a $1,000 ... it needs to make up its mind dont you think?
I think world events have much to do with it. Its the start of the wedding season in India, And North Korea just renounced their truce with the south. People are starting to get worried.
I was more getting at how everyone yells when i looks like it is dropping fast - but doesnt, then yells when it looks like it is going up like a rocket - and doesnt.
There is a growing consensus among gold dealers that gold will break $1000. What's in dispute however is how it gets there. There are a number of respected traders that believe it could correct down to the low 800's before it starts climbing back up.
Probably a good time to book some profits..the last two times gold hit $1000, it fell back sharply shortly thereafter. I did read one interesting item today..countries (including China) that hold a lot of dollars are selling dollars and converting them into 5 parts: 4 other currencies and gold. The source for this information is one of the most highly respected investment minds on Wall Street...
new to this was it not what walstreet done that started the run on dollars .and i do see a large war some time soon my guess is the 3/9/2009 so thd best of luck
That $1000 level on gold has been tough to crack. Depending on what your gold positions are (paper or physical?) you can take some money off the table at this level in the spot price of gold.
