Gold is going to correct further, yes or no?

Is gold going to correct further?

  • Yes

    Votes: 40 46.0%

  • No

    Votes: 19 21.8%

  • I don't know

    Votes: 15 17.2%

  • Don't you know what a trend is, you top-picking *$$#%$@#

    Votes: 13 14.9%
  • Total voters
    87
Quote from GlobalFinancier:

692, neutral.
Kinda late to post here :D.
More...

The wild swings in gold suggest that the bull market might be over, at least for now. If it drops, I think we'll see a lot head for the door.
 
people said the same thing about the wild swings

at much lower prices ...

the main point is that if one can take advantage
of the volatility in this or any other market that is moving now ... one can either buy a nice bottle of
Petrus
or make a quick dash to bathroom
after an afternoon of drinking bad beer
to nurse the losses

:p
 
Depends...

CPI up --> FED keeps rasing --> USD up --> GLD down
Deficits up --> Debts up --> USD down --> GLD up
Iran + Hurricanes + Peak Oil --> Oil up --> USD down --> GLD up
Oil up --> CPI up --> FED keeps raising --> USD up ??? --> GLD ???

Which pressures will be stronger?
 
i like your post martin but also would like to add at some point inflation (reason for further rate hikes) makes gold more attractive

i am bummed as have watched gold go up 35% since my entry in mining stocks which have enjoyed a 40% rise. only to see 4-5% correction in gold (730-690) and my mining stocks are down 25-30%. im in it for the long haul and still like this sector and see this as a buying op at whatever level - but i shudder to think of the sports car i could have bought had i sold friday and bought back today. going to the bar to try to make sense of it all. sigh
 
If China allows the yuan to strengthen more then that will be the biggest pressure... i.e. higher domestic costs = less demand for commodities. It's the China syndrome that drove commodity prices higher in the first place and it will ultimately be the China syndrome that bursts the bubble. Interest rates, the oil price, political tensions etc.... These are all nice little puffs of air under the main thrust of Chinese growth... They won't be able to hold the brick when it eventually falls...
 
yuan reval? don't hold yr breath... china knows that will only precipitate the bang... itself imminent due to the staggering size of china npls, and overcapacity across the board, amongst other equally monstruous things... commodities black swan round the corner :-))
 
of course, thats where all the fiat money will want to go, gold... i mean, what could be a better asset class than gold? plus its such a great hedge against massive 2.x% hyperinflation, innit? :-)))
 
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