Gold?

S

sbn

What's the deal with gold? Why is that everyone saying and thinking it's going to go to 1500 maybe more? I just heard a speaker of a big asset management firm and there wagering everything that gold is going to the moon. Another speaker on CNN says the same.

What's the deal here? The way it looks like now, it looks like a short till 800.

Any thoughts. Long or Short?
 
Hedge funds are trying to corner the market on gold by controlling interests in gold producers and drive up the spot prices. This is the same game they played with oil - reduce supply, create panic and demand and drive the commodity price into a parabolic spike up and take profit before it collapses.

http://www.bloomberg.com/apps/news?pid=20601014&sid=amv2YqPURyNI&refer=funds

John Paulson, bought a stake in AngloGold Ashanti Ltd. from Anglo American Plc for $1.28 billion as hedge funds increase their gold holdings.
.........
AngloGold is reducing contractual commitments to sell gold at fixed prices so as to secure more room to benefit from earning spot-market prices.
More...
 
Sorry, every time gold goes down, all the bugs come out and scream manipulation. Any time it goes it, it's doing what it's "supposed to". Why can't there simply be buyers and sellers who react in the same way any other commodity is traded? Why is it always a conspiracy or a secret cartel run by a bald, eccentric rich man who pets his hairless cat in a secret hide-out in the desert?
 
Quote from Ivanovich:

Sorry, every time gold goes down, all the bugs come out and scream manipulation. Any time it goes it, it's doing what it's "supposed to". Why can't there simply be buyers and sellers who react in the same way any other commodity is traded? Why is it always a conspiracy or a secret cartel run by a bald, eccentric rich man who pets his hairless cat in a secret hide-out in the desert?
More...

Didnt you read the smiley?

Anyway, gold is up nicely I guess the cabal reads ET.
 
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