Gold Triple Top Price Collapse Soon!!

from what I read ... the chinese market is not going to be too big at first or will basically be used for hedging locally in their currency but maybe down the road it will be a thing to look at

my understanding is that

each contract will be equal to approx one mini YG futures
and the margins are set at 7 % with max daily price limit
about 5 % either way from prior day settle
 
With bullish sentiment 90% "and all this good news" perhaps we are not the first to know...again, I see extreme bullishness and overbought conditions.
 
Quote from sumosam:

With bullish sentiment 90% "and all this good news" perhaps we are not the first to know...again, I see extreme bullishness and overbought conditions.
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Then get some shorts in the market and watch your money disappear.... The general public as a whole own so few investments in gold that I honestly can't concieve how you think sentiment is at a bullish 'extreme'. Keep fighting that trend Sumo, you might get it right one day..
 
I don't necessarily agree with the OP, however gold demand is being driven purely by speculators. Most of the gold is now going into GLD; they warehouse it as money comes into the ETF. Gold has very few industrial uses, at least that is not driving the price. Other commodities like platinum, copper, etc. have industrial uses which are driving the price. Oil, which is also being driven primarily by speculators, at least has some fundamental reason for going up. People constantly need to replace crude. Gold is purchased once, then held. When the buyers stop, gold will crash. Jimmy Rogers, who is an expert in commodties, also thinks the gold trade is close to being over, but is bullish on other metals.

This all happened before, Gold went from 200 - 850, and crashed back to 250 and stayed there for many years. Gold could go to 1000 first, but it will eventually drop back to 400 - 500 and stay there for many years, IMO.
 
...and Silver?

some say that it was held down (manipulated) all those years and that this is the time to be long in silver before it "explodes"...

those kind of statements maybe hype or maybe real.

btw I am not a commodity expert.
 
Yesterday Gold made a perfect double top with the 1980 price within a buck or two on a continuous chart. This next few days will be interesting. Yesterday when I checked it looked to close off the highs so we will see.
 
Quote from Triple X:

Gold could go to 1000 first, but it will eventually drop back to 400 - 500 and stay there for many years, IMO.
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I would tend to agree, but the $64,000 question is what number goes after the words 'go to' in the above sentence. I'm not saying that you're assuming $1000 as an upper limit; however I think there are people who are saying 'There is no way it could go higher than [i.e.$1000]...'

I think that's a mistake. I'm no economist but isn't the 1980's peak a lot lower than $850 in inflation adjusted terms?
 
There is also a question of WHY should it go down?

My opinion on this that there is little point in expecting a top in light of a major trend so far, there are of course plenty of intraday opportunities to buy and sell :)
 
I don't see people lined up to sell old jewelery for scrap value this time. $850 isn't anything near what it was then. A brand new car, loaded was $4,000 back then, not $25,000 like it would be today.
 
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