Can one of you metalheads explain why gold hasn't shot through 2000 today?

[padutrader]

I've been wondering this since late February.

why

you think gold goes up when stocks go down.

well maybe stocks are not going down...…...

 

[athlonmank8]

why

you think gold goes up when stocks go down.

well maybe stocks are not going down...…...

stocks havent bottomed. Gold is like any other commodity. Look what it did during the 2008 crash. Fell off a cliff. Everyone dives into bonds, not gold. It didnt rebound until the crisis was over in 2009.

 

[padutrader]

And you know this how???

I see the same chart as everyone else...….

just maybe I notice something else

if you want to know exactly how I came to this conclusion then I am afraid I cannot explain the exact reasons here

 

[padutrader]

stocks havent bottomed. Gold is like any other commodity. Look what it did during the 2008 crash. Fell off a cliff. Everyone dives into bonds, not gold.

well.....maybe... gold says it has.

i certainly think it has....but i have been wrong many times

 

[padutrader]

Look what it did during the 2008 crash.

so we are not in crash

in a crash gold follows stocks

actually in all times gold follows stocks

 

[elitetrader01]

why should it. it's not a penny stock with one market maker

 

[SunTrader]

Spot gold butting up against resistance last time it was at this level - early 2013:

 

[KCalhoun]

Gold's inability to rally likely means

+ mkt may bounce a bit (note TRIN<1 today = bull bias)
+ margin call selling
+ capital outflows to other safe havens like real estate or cash

I bought a bit of JDST on gap up today in case it continues up

 

[padutrader]

mkt may bounce a bit

it is going to be some bounce believe me

 

[KCalhoun]

I also bought a little TQQQ in case market bounces, though big picture I think selling continues by end of week