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Its now almost exactly at a 50% retrace of the upmove from $726. If this doesn't hold, I'd guess to look for support at $750 to $760 next. Its all about the dollar, IMO, not gold.

Panic selling of stocks buys dollars and treasuries. When panic ends, dollar goes back to decline. I'd imagine rates go back up, too. See august panic for example

So where do you figure support is? 800? 775? I figure some nasty economic news will come out before too long to end the dollar bounce.

You would feel a lot better if you looked at it in US dollars. You'd even get to pay taxes on all your gains that way. That chart is showing what's really been happening. Sort of like the crash in 29 followed by a the real crash into the depression as all the debt blew up, because it...

and after it gets to 70 it will fall to 50. Around about there they will realize that maybe it wasn't such a good thing after all.

Its all about dollars. China and India have an endless supply of them to buy oil with, but the middle easterners already have more than they'd like to. Its Americans that don't have any dollars these days...

The commercials have been right consistently for a very long time. That doesn't mean they will always be right. I read on an lemetropol email that Goldman sacs was covering a large number of their short contracts about a week ago. When the commercials have to deliver at a higher price than...

If the inflation number they are using was 5 or 6% instead of 1 or 2%, then the result would be an equal decline in the GDP growth rate, giving at best no growth, or just as likely a recession. You can only fudge numbers so long before people smell the smoke. Take, for example the jobs...

Yes, 2/3 fabrication, IMO. they say construction added 14,000 finance added 25,000 prof and bus serve added 36,000 all total BS, IMO all in all they added 103,000 to the reported numbers via birth/death adj by contrast, the household survey they do said 200,000 jobs were lost

Its just a bit less that people or corps need to pay if they have loans based on prime rate. It would take a BIG cut to get housing or autos back to normal, but my guess is they are TRYING to engineer a slowdown because commodities have been going nuts. Alex is correct in that if you are...

Yes, I agree there. I'm wondering what happens this coming week after the Fed meeting: Fed raises rates = gold tanks to low $700's Fed stays pat = gold holds or pulls back Fed cuts 1/4 = gold to $800, maybe test $850 Fed cuts 1/2 = gold goes over $850 those are my guesses for now...

Things will eventually correct. 3 to 1 would hopefully get the trade imbalance to contract. If its done al at once it will be catastrophic I'd guess, so it needs to move at a rate of 10 or 15% per year till the deficit goes away. Gold just *IS* money. Its not priced in money. Its the...

I wonder where it hits the point that profit takers outnumber buyers? If the Fed cuts rates next week, I can't see the dollar getting a big rally, so that would imply gold goes still higher for now. Maybe we need to watch for the people lined up to sell their old gold jewelery like in 1980?

What a joke... Its moved 10.5% in 3 years and we have a $22 BILLION per month trade deficit. That's enough EXTRA dollars per month to buy most of the world's gold production each month

Short bounce for the dollar, this time, IMO. My guess is by Wednesday it will be buried in dismal economic news that continues Thursday and Friday.

CD's Yeah, you get 5% and the value of those dollars declines by 10%, but it gets you a tax bill of 2%, netting to a total loss of 7% Where is the sense in that? You just THINK you are getting 5%.

Yeah, but when reserve currency status is lost, as it soon will be, IMO, all that extra "demand" for dollars will quickly become "supply" trying to find a safe place to hold their store of value. That's what's happening, now, IMO, and its just in the beginning stage because none of the big...

The government debt then was also a pittance by comparison. That means a recession can't be allowed to occur, because if its does, all these debt bubbles will turn into bad debt bubbles, and lenders/banks will go under right and left. So better to print more money and hope things don't blow...

I think as Q3 earnings and Q4 forecasts come out we'll see this was the top for now. Weakening business conditions will get reflected in prices as rumors and news hit, IMO.

I have top tier accounts with both Fidelity and TDAmeritrade, and if I had to pick a way to unload 20k of an illiquid issue, I'd probably do it with a "worked" limit order via TDAmeritrade. I do this frequently, but I have a big account, and might get better service as a result. Fidelity will...