Gold Triple Top Price Collapse Soon!!

Quote from traderNik:

+1

Smart Money is waiting to add to long positions on any correction. This means that the respondent above might be correct and we could get a nice push to new highs before a leg down. If this happens the OP will get stopped out at the highs... which is as it should be.
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Agreed, everyone has different expectations and operates on different timelines. I'm not even a gold bug but have been long/hedged and pyramiding in several funds. Adding miners now.Bought physical in 2003.

To me it's an obvious long term trend that will march on for the next decade. We'll have dips and some scares but the path leads upward.
 
Short term, anything can happen. CB's could decide to dump another 50 tons of gold to drive the price down.

Who is to say that the SWF's and other CB's won't be happy to trade in some of their US dollars for that gold?

That is what's been happening, and each time the bidding is a bit higher than the last. In the last year, Dollar reserves, as a percentage of total, went from 65% to 63%. At the same time, gold went up 27% in Dollar terms.

I think there will be more reductions in Dollar reserves, to a level befitting of a nation that has a 6% trade deficit and $9 trillion in debt, and still runs huge deficits, pretending that "off budget " numbers don't matter, any more than the entitlement promises paid for in advance by citizens, but unaccounted for on government books.

I think that will eventually cause more investors to see gold as a safer store of value than dollars.
 
Quote from jreynolds212:

If it doesnt get above 842, then whammM!!!!

Six questions:

Is the ten year yield going higher or lower? I say higher

Is the dollar moving higher or lower? I say higher

Is oil at a triple top? YES

Is gold at a triple top? YES

Has the $XAU formed a rounded top? YES

Is the $GTX struggling to get over its 2006 highs? YES

Im short right now gold and believe the time has come to throw it on the table!! What says you ETers? The ones who run to buy goldcoins when gold has topped...the ones who run out to buy euros when the dollar has bottomed? Speak up! What says you...
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One question:

Odds of you posting in this thread again? ZERO
 
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Contrarian indicator?
 
What says you Elitefaders!!! Gold dumping down today by 4 bits!!

Dont walk away from this thread silent. I want answers from you now. Your mattress loaded full of gold bullion and ready for the world to end.

This is for those who want to listen, learn and believe. Gold is headed for a MAJOR price collapse. I cant say this any stronger. Lets do it in caps. GOLD IS HEADED FOR A MAJOR PRICE COLLAPSE!!!

The price collapse is hear, its now...Lets hear from the peanut gallery who has their mattress stuffed with gold bullion.

Bend over and lemmmeee hear ya! GOOLLLDDDD!!!! BWAAAHHH!!!!
 
Quote from jreynolds212:

If it doesnt get above 842, then whammM!!!!

Six questions:

Is the ten year yield going higher or lower? I say higher

Is the dollar moving higher or lower? I say higher

Is oil at a triple top? YES

Is gold at a triple top? YES

Has the $XAU formed a rounded top? YES

Is the $GTX struggling to get over its 2006 highs? YES

Im short right now gold and believe the time has come to throw it on the table!! What says you ETers? The ones who run to buy goldcoins when gold has topped...the ones who run out to buy euros when the dollar has bottomed? Speak up! What says you...
More...

I exited my longs Friday. It was nice being long.
 
I love it when a prediction comes true!!!! Down with the yellow stuff!!! Down ye gold!!!

Quote from robbie380:

One question:

Odds of you posting in this thread again? ZERO
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gold could easily bounce back higher over the new yrs holiday

one problem has been the thin trade .... this past week in my opinon .... but 2008 starts a new playbook for many folks
 
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