Gold will never go below $1,200 per oz again.

Will gold every go below $1,200 again?

  • It will never go below $1,200 again.

    Votes: 8 7.6%

  • It will go below $1,200 again.

    Votes: 97 92.4%
  • Total voters
    105
Yes, they are being treated as paper assets. People want the real stuff. If the dow goes to new highs or maybe just another 2000 pts. then gold stocks will take out the highs.
 
Auch :p

Goldstocks holding up rather nicely though.

We have seen far greater leverage on the downside these last 2 years then today.

Also nice that the dollar takes some of the pain away for non US residents.:)
 
The break off the top will be proportional to the run up. At $2000, maybe a 100-150 point day. At $5000, I wouldn't be surprised to see -500. I'm stating the obvious in regards to volatility, but I'm just licking my chops waiting for the run up and top out. This is looking like the NDX in 99'.
 
And thats why so many can not make money in trading. they get nervous and their judgement gets cloudy. SOMETIMES you must forget about the charts, or otherwise there could be no market. Gold is a global market, where the mind set in India or Dubia might be different the in China or U.S. This dip is for buying, not selling.... just watch and see.

The demand for gold will not lessen just because we pull out of though economic times...... there is a huge ever growing new classes of people in other countries that are desiring gold.
 
Quote from luckyluciano:

Gold is a hedge against the U.S. Dollar. As it continues to perform poorly, more and more will pile into it. As the USD bottoms out, and eventually recovers gold will decline an collapse as people will pile out of if in droves. Who in their right mind will hang on to a commodity as it free falls? Gold is used for mainly jewellry! Not a necessity by any means by anyone.
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Well Waren Buffet /Dave Ramsey are known for not liking gold long term. So thats bearish fundamantals. Short term , Dec took out lowewr lows, that bearish technicals again.

Long term, 10 year chart, 1 year chart, both are bullish;
same for silver.

:cool: As far as related to US dollar ,see your points;
IBD says USD hit 3 month high. Interesting Gold isnt @ 3 month low-though. As far as a[ leveraged ]free fall, you may be right;
not that gold coin dealers/ gold coin buyers care:cool:

So O-poster is right on his trend direction, not his price prediction.
 
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