Gold putting in a short term low.

T

Trexticle

It seems a little early for a low, but the next three days we could see the low (apprx. $1075.00 cash) and then back up. Plenty of built up energy in this move yet. We had a similar consolidation in November/December of 07 and it resolved to the upside. I don't have any reason to believe otherwise this time.

big.chart


Of course this is the market and anything could happen and you have to be ready for that.
 
Quote from Trexticle:
-----I don't have any reason to believe otherwise this time.
-----Of course this is the market and anything could happen and you have to be ready for that.
More...
....on one hand, but then on the other hand......:cool:
 
The problem is producers are digging out record amount of gold from mines to take advantage of these prices.

Lots of Mines that were not producing since gold was too low to make it a profitable venture.
 
Quote from Trexticle:

It seems a little early for a low, but the next three days we could see the low (apprx. $1075.00 cash) and then back up. Plenty of built up energy in this move yet. We had a similar consolidation in November/December of 07 and it resolved to the upside. I don't have any reason to believe otherwise this time.

big.chart


Of course this is the market and anything could happen and you have to be ready for that.
More...

Your GLD chart suggests to me that a significant pullback is due after a 50 pt. swing.

Of course I could be dead wrong. I'm long SLV for the long term, btw.
 
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