Gold is dumping.
- Thread starter lwlee
- Start date
in my opinion
they really played the "game" good today
late yest ... NEM announced bullish news
or at least news that would make a huge component
of the mining sector indices attract some buying today
( even if some were selling on the news )
in my opinion they made people panic on the payroll
number pre open of the NYSE
and then the gold drew buyers over all day long
( esp in silver for most of the morning )
they really played the "game" good today
late yest ... NEM announced bullish news
or at least news that would make a huge component
of the mining sector indices attract some buying today
( even if some were selling on the news )
in my opinion they made people panic on the payroll
number pre open of the NYSE
and then the gold drew buyers over all day long
( esp in silver for most of the morning )
Quote from SethArb:
in my opinion
they really played the "game" good today
late yest ... NEM announced bullish news
or at least news that would make a huge component
of the mining sector indices attract some buying today
( even if some were selling on the news )
in my opinion they made people panic on the payroll
number pre open of the NYSE
and then the gold drew buyers over all day long
( esp in silver for most of the morning )
NEM hasn't been the sole stock that has been rising over the past few sessions. Several of the Mid-Tier and Junior producers have been breaking out while gold prices have been shuckled around. I do expect to see a dramatic breakout in bullion prices relatively soon as a result...
My rule of thumb is that the gold price follows gold stocks by about six months or so.
Given how impatient everyone is, maybe waiting only three months might be prudent, if this week's breakout in gold stocks proves to be real.
So, right now I'm heavily long gold stocks, but not looking to buy gold itself until October.
Given how impatient everyone is, maybe waiting only three months might be prudent, if this week's breakout in gold stocks proves to be real.
So, right now I'm heavily long gold stocks, but not looking to buy gold itself until October.
Considering the amount of bullish fundamentals on gold/silver, i'm suprised gold isn't above $700 on the spot.
I guess the heavily CB selling combined with the immense shorts by commercials are really dragging the metals down.
oil $70+
$USD 81
Inflation = The same
Demand = still high
The USd index has cracked hard a couple of times lately and gold had NO reaction. Wasn't it down yesterday when the USd was down almost 1? Doesn't make sense..
I guess the heavily CB selling combined with the immense shorts by commercials are really dragging the metals down.
oil $70+
$USD 81
Inflation = The same
Demand = still high
The USd index has cracked hard a couple of times lately and gold had NO reaction. Wasn't it down yesterday when the USd was down almost 1? Doesn't make sense..