February Gold (ZGG8)

as I type this spot gold has made new highs for the bull market ... got a shade over $891.00 USD and is now hanging out at the $888 level ( feb futures got to about $894.50 by the way )

:cool:
 
the real story is the big wall street houses just can't seem to bring themselves to upgrade mid tier gold mining stocks...

wouldn't want to spook their near broke CDO holders who can't seem to find a door out of the place....

oh I forgot.... core inflation is only 2%....

nevermind....
 
Gold could pullback to 855-860 with the possibility of a pullback to 840 region as well. The USDX appears to be holding up while Crude prices have come off from the 100 print. My main concern right now is that the XAU has not confirmed higher gold prices to come as it is still unable to make a new closing high while the HUI only made a marginal new print high. Resistance in the gold share is akin to marking some type of short-term high in gold prices. Silver has also displayed the usual runup and then the immediate take down occurred...
 
Quote from daddyeaux:

the real story is the big wall street houses just can't seem to bring themselves to upgrade mid tier gold mining stocks...

wouldn't want to spook their near broke CDO holders who can't seem to find a door out of the place....

oh I forgot.... core inflation is only 2%....

nevermind....
More...

FWIW, I am also surprised that gold/silver mining stocks aren't soaring even more. Even if we see a significant correction in the underlying to, say $800 - HEY!!! Its still $800 an ounce!!! Current production costs of gold per ounce are??? But certainly no higher than $400 in an absolute worst case scenario. Stuff feels undervalued, but I am just talking my position.

$900 coming up... wow
 
Very high possibility now of seeing 900 US$ gold price tomorrow and perhaps a very convincing and strong move to the upside in both gold and silver. The $HUI finally broke out to a new high today thereby helping to confirm stronger moves in the metals over the coming days/weeks. April gold now trading solidly over the 9 handle so cash is not far off now and should spark additional buy interest as a result...
 
in fact if you're sitting in some money market fund at say 4.5%, and money supply rate of change is 15% y/y,

you're getting your nuts kicked thru your throat by 11.5%

compounded, you lose 50% of your purchasing power in 6 years

an opinion of course, and I could be wrong.....
 
Quote from daddyeaux:

in fact if you're sitting in some money market fund at say 4.5%, and money supply rate of change is 15% y/y,

you're getting your nuts kicked thru your throat by 11.5%

compounded, you lose 50% of your purchasing power in 6 years

an opinion of course, and I could be wrong.....
More...

Jesus dude, couldn't you sugar coat it a little?
 
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