Does anyone know why gold has gone up so much in the few days?

  • Thread starter Thread starter morganist
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Quote from intradaybill:

One factor may be some lawmakers in the US pushing for an audit of reserves. They claim reserves are not as high as reported. On the contrary, I think the US has more gold than it reports and this is the reason they do not like audits.
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no one knows where it is,or how much,they never found twin towers gold...bad sheriffs outnumber the good deputies by a wide ratio
 
Quote from morganist:

Silver hasn't gone up as much, which is the main indicator of currency debasement fear.
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I see no reason to believe that silver is a better tracker of debasement fear than gold. Why should it be?
 
Quote from rew:

I see no reason to believe that silver is a better tracker of debasement fear than gold. Why should it be?
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There is a noted negative correlation between silver and the american dollar of seventy percent. In the trading books I have seen it is a secondary position to take against a currency debasement after a currency hedge.
 
Quote from morganist:

There is a noted negative correlation between silver and the american dollar of seventy percent. In the trading books I have seen it is a secondary position to take against a currency debasement after a currency hedge.
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That's a pretty nice little tidbit of information. I don't know anything about forex, but it seems like every exporting country in the world is in a race for the bottom.

If I was trying to hedge (and aren't we all) I would go by the book and just buy silver.

Didn't Warren Buffet do that several years ago? I think he even flew on his private jet to London just so he could see the big vault it was going to be stored in.

I'm kind of in the "energy is the currency of the future" crowd.

But I did not know that about silver. Thanks for the info.
 
Did you see silver? Went up to mania level this April, then pop! The bubble bursted. Silver can go up sharply from here, or down sharply as well... Time will tell whether the recent rise is a tulip-bubble type short-squeeze pull-back, or if it is indeed the beginning of another upleg... Smart money will wait until a pullback to 42.00 to confirm the uptrend...

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Quote from pattern39:

Did you see silver? Went up to mania level this April, then pop! The bubble bursted. Silver can go up sharply from here, or down sharply as well... Time will tell whether the recent rise is a tulip-bubble type short-squeeze pull-back, or if it is indeed the beginning of another upleg... Smart money will wait until a pullback to 42.00 to confirm the uptrend...

ag0365lf_ma.gif
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Trust me it is going up.
 
Quote from morganist:

Has it got something to do with the Debt Ceiling?
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More buyers versus sellers.
 
Quote from morganist:

Trust me it is going up.
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It never ceases to amaze the people who insist on fighting these metals. Once gold cleared 1,000, there was no looking back. Ben the counterfeiter doesn't even know what hit him. And neither do some of these clowns, looking for the short of the ages.
 
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