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<p>[QUOTE="princeofwaldo, post: 3663958, member: 24091"]They say that forecasting the weather requires nothing except claiming tomorrow's weather will be almost identical to today's. Such a prediction will make a forecaster correct 80% of the time. Here in Nevada, it would make him/her correct closer to 95% of the time. Metals prices move in much the same fashion, almost a seasonal pattern to the price movement, that is, when the price is going up it tends to continue going up, and when the price is going down, it tends to continue going down. All sort of an invisible momentum that tends to keep things headed in the same direction. If it were truly random, you would expect gold to trade at $1300 one day, followed by $120 the next, then $1800 the day after that, in a totally random and unpredictable way. The simplest advice I could give to anyone is that the trend is your friend, and at the moment the trend is unmistakably upward. Until it isn't.[/QUOTE]</p><p><br /></p>
[QUOTE="princeofwaldo, post: 3663958, member: 24091"]They say that forecasting the weather requires nothing except claiming tomorrow's weather will be almost identical to today's. Such a prediction will make a forecaster correct 80% of the time. Here in Nevada, it would make him/her correct closer to 95% of the time. Metals prices move in much the same fashion, almost a seasonal pattern to the price movement, that is, when the price is going up it tends to continue going up, and when the price is going down, it tends to continue going down. All sort of an invisible momentum that tends to keep things headed in the same direction. If it were truly random, you would expect gold to trade at $1300 one day, followed by $120 the next, then $1800 the day after that, in a totally random and unpredictable way. The simplest advice I could give to anyone is that the trend is your friend, and at the moment the trend is unmistakably upward. Until it isn't.[/QUOTE]
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