With the run up this week who else thinks the week ends with a little profit taking and a nice drop of at least $20.00 an oz on Gold and .50 on Silver?
No I believe the market will stay the course with the news from China. Apparently China is pushing the idea of buying gold and silver for investment purposes to the general population. China's Central Television, the main state-owned television company, has run a news programme letting the public know how easy it is to buy precious metals as an investment. On silver investment the announcer is quoted as saying " China has introduced its first ever investment opportunity for silver bullion. There has been nothing else to trigger this spike
Sure why not have a little profit taking. I think the general trend will be up for the next few months but would not be surprised with a few down days.
The recent weakness in the dollar can't be ignored...but you're right, the China Syndrome may have speculators jumping the gun a bit...and it's normal for some intermediate profit taking to occur, as well. Here's is my "homage" to Krusty... http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail
Quite an interesting article. This presentation is a bit old by now and may be familiar to some, but perhaps it's appropriate here in terms of scale to think about in terms of that article too: Shift happens [the soundtrack isn't too great so you may want to turn it down/off]
Through all the market turmoil, the price of gold, to me, has seemed to have remained pretty steady. I would have to say the trend has been a slow upward price move. I can remember a post a while back asking the question "will gold pass $800." Now I think the question may be asked will gold pass $1,050 or $1,100. May be time for a little profit taking today. Right off hand I can not remember when gold was under $900 but has been a while. It would not surprise me if we never see gold under $900 again but I do not know.
oh, I believe that we will see gold below $900, and perhaps below $700. Not soon, but it rises and it goeth down. Today a drop of perhaps $10 for profit takers, and then back up next week. As for silver, perhaps down $.35+ today, then back up next week, after the holiday.
There was a little profit taking over night, but prices seem fairly steady today...so far. The guy that wrote this article for CNBC makes an argument for gold over $1200 by the end of the year... http://www.cnbc.com/id/32674100 If this comes true, we may be inflating the next bubble. LOL...the government sells off their gold via the US Mint then buys it back 50 cents on the dollar after the bubble bursts...pretty smart.
Gold should hold steady today and close around 993. Once the market opens on Monday evening we should see gold surge again past $1,000 but it should settle back down Tuesday afternoon below $1,000:hammer:. Next week forecast: Gold will open big on Monday. With a drop Tuesday and flat line for a couple days with another surge towards the end of the week. Manipulation is the key to success!
Gold and silver are currently gaining : GOLD 994.50 995.50 +2.80 +0.28% 984.80 997.80 SILVER 16.21 16.25 +0.09 +0.56% 15.82 16.36
