Gold A "Safe Haven" In This Market Decline?

[Scataphagos]

Some folks are saying yes.. but maybe not.

Years back, there was a market decline... and I was thanking my lucky stars that I was already loaded in gold issues. Market was smashing, my golds were rallying smartly. But it didn't last long. Gold soon caught up on the downside.

In the last stock bear market, gold physical declined ~-33%... which was less then the general market. However gold miners lost ~-80% during the same time.

Will it be different this time?

FWIW...

 

[trader99]

i need GC to break out of 1240 to confirm that. Right now 1240 is the resistance. If it fails that during the next crash then it's not a safe haven. hehe

 

[Scataphagos]

i need GC to break out of 1240 to confirm that. Right now 1240 is the resistance. If it fails that during the next crash then it's not a safe haven. hehe

Yes. Not only "break above 1240", but subsequently hold that price on subsequent dips.

 

[trader99]

Yes. Not only "break above 1240", but subsequently hold that price on subsequent dips.

that's what i meant implicitly. because it failed several times to hold above 1240... i'm still sitting on this pos.. hehe

 

[Scataphagos]

that's what i meant implicitly. because it failed several times to hold above 1240... i'm still sitting on this pos.. hehe

You are "on point". What's important is that you're tuned into the technical significance of 1240 at this time. (Not saying "1240 is THE key price point", but it's "A" key trading point for now.)

 

[maxinger]

over the past few weeks, this is what we hear.

1. Gold is a safe haven in time of crisis (ie buy gold and sell US $).

2. In time of crisis, people buy US $ (buy US $ and sell gold).


So in time of crisis, experts / writers will check the gold price,
and choose statement 1 or 2 accordingly.

 

[Scataphagos]

over the past few weeks, this is what we hear.

Gold is a safe haven in time of crisis (ie buy gold and sell US $).

In time of crisis, people buy US $ (buy US $ and sell gold).

Whatever you hope/think/believe/fear... TRADE THE CHART! You won't have to guess about any other.

 

[maxinger]

Whatever you hope/think/believe/fear... TRADE THE CHART! You won't have to guess about any other.

agree. trade the chart.

I don't listen to those reports /financial experts

 

[Money Trust]

History certainly isn't on those people's side. But, more directly, gold itself looks to be setting up for a fall.

 

[zdreg]

over the past few weeks, this is what we hear.

1. Gold is a safe haven in time of crisis (ie buy gold and sell US $).

2. In time of crisis, people buy US $ (buy US $ and sell gold).


So in time of crisis, experts / writers will check the gold price,
and choose statement 1 or 2 accordingly.

you have discovered an eternal truth. the "experts" are always right.