Just shorted 1000 shares of NEM at US$46.69 watch as in a month I pick up another easy US$5,000
When gold drops it drops like a stone I've noticed
When gold drops it drops like a stone I've noticed
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
GOLD has topped !
- Thread starter EmAy
- Start date
Big Gold rally in Asia! Up 5 bucks! US$596!
USA trader. I am VERY bullish on gold 'tis true (just bought 20000 BDG.AX). But gold at US$596 an ounce is way over bought. I remember selling nearly all my physical gold at US$400+ or thereabouts (if memory serves me right) I thought I had won the lottery. But it kept going up.....and up.........up more.....
It was giving me the shits!
I knew that Hedge Funds were buying a lot of the stuff as soon as talking heads started to explain it by 'Jewelry Demand in Asia' aka 'Industrial Uses'
What a load of cods! After that I've been trying to tell people to sell and take profits before the rug gets pulled out from everyone holding gold stocks ETF's calls etc.
Bendigo Mining Ltd is a good company though just up the road from my place here in Victoria, Australia. Tolhurst Noall gives it as a "buy" so I'm buyin'!
It was giving me the shits!
I knew that Hedge Funds were buying a lot of the stuff as soon as talking heads started to explain it by 'Jewelry Demand in Asia' aka 'Industrial Uses'
What a load of cods! After that I've been trying to tell people to sell and take profits before the rug gets pulled out from everyone holding gold stocks ETF's calls etc.
Bendigo Mining Ltd is a good company though just up the road from my place here in Victoria, Australia. Tolhurst Noall gives it as a "buy" so I'm buyin'!
In my very humble opinion, this correction in gold will definately lead to lower prices in the near future. Long term however, Gold is going much much higher. The reasons which are a matter of fact. The article below is very interesting.....
http://www.traderdaily.com/column16/3286.html
http://www.traderdaily.com/column16/3286.html
Quote from Rearden Metal:
<b>I</b> am bullish on gold. <b>Very</b> bullish.
Since I'm pretty much always right, you should probably take this call seriously.
Whenever someone says that, usually it's time to start fading them.
I bet a night with 2 of chicago's finest ladies of easy virtue that the next $50 is down rather than up.
Won't get an argument fom me.
Surprising it is clinging to US$580 in European trade at the moment.
It just moved up too fast too quick thats all.
Gold bulls are probably hoping for an outbreak of killings in the Middle-East or Iran to go ape and nuke Israel.
Those Gold bulls should team up with Osama
and get the price moving up again
Surprising it is clinging to US$580 in European trade at the moment.
It just moved up too fast too quick thats all.
Gold bulls are probably hoping for an outbreak of killings in the Middle-East or Iran to go ape and nuke Israel.
Those Gold bulls should team up with Osama
and get the price moving up again
come back from oz man. monetary and fiscal responsibility aren't terrorism
With Bush in charge of fiscal policy levers it can be construed as 'economic terrorism' in my view.
I mean the amount of money spent on 'pork' projects is astounding! Still no help for Katrina victims, Airline security is still in the dark ages, etc no money for things that really matter
It is no surprise gold, silver (and other US$ denominated commodities) were viewed as a 'safe haven' because there isn't anyone who was/is safe from the bungling idiocy of this republican administration IMHO.
Armitage blew the whistle on Plame I hear. Why isn't he charged with treason?
I mean the amount of money spent on 'pork' projects is astounding! Still no help for Katrina victims, Airline security is still in the dark ages, etc no money for things that really matter
It is no surprise gold, silver (and other US$ denominated commodities) were viewed as a 'safe haven' because there isn't anyone who was/is safe from the bungling idiocy of this republican administration IMHO.
Armitage blew the whistle on Plame I hear. Why isn't he charged with treason?