Guess The Gold Bottom... I'm saying 850

[spersky]

I think Gold should continue its near term down trend friday or monday. Still short from 930.

 

[thriftybob]

Took the profits on my miners today in case the payrolls number causes a sell off in gold. Anymore, I'm happy to make 4 or 5% with each play, and walk away to avoid losing it.

 

[BillyRay1]

Gold peaked and on way back down to 6-700 bucks
just on b/berg TV from Jim Oneill head of Goldmans research

 

[PaulRon]

Quote from BillyRay1:

Gold peaked and on way back down to 6-700 bucks
just on b/berg TV from Jim Oneill head of Goldmans research

Oh, wow! head of goldman research!! that means he really knows what he's talking about!!!

I also recall Goldman recommending to short gold when it was 800 at the end of '07, wonder how that bet turned out for people.

 

[markyhabs2]

Quote from BillyRay1:

Gold peaked and on way back down to 6-700 bucks
just on b/berg TV from Jim Oneill head of Goldmans research

hes the first to say so...meaning its going up...heard a rumor China is getting ready to buy 1 trillion in gold. they dont have any gold reserves just USD $ and they want to Diversify....if that happens i will be the happiest guy on the planet sitting on a mountain of it....

 

[BillyRay1]

Quote from PaulRon:

Oh, wow! head of goldman research!! that means he really knows what he's talking about!!!

I also recall Goldman recommending to short gold when it was 800 at the end of '07, wonder how that bet turned out for people.

haha yes exactly - i saw something after that news this AM showing how he had called the USD selling overdone end of Nov 07 around 1.47's

oops..

 

[Ivanovich]

Saying the price is overdone is not the same as saying it is going to decline. The USD decline is definitely overdone. But it could stay this overdone or get even more so for quite some time yet.

 

[thriftybob]

The Gulf nations will be meeting next week to discuss the dollar situation. I'm sure they will support it with words for now untl they manage to reduce their exposure.

 

[infolode]

755.00 3-6 months from now. The low could coincide with the stock market highs at the end of the June
quarter. From that low, the price of gold will double.

So for three to six months the weak hands fold, speculators add or unwind and a lot of junk gold and coins will flush and be absorbed. Ready for the run! 1510.20

It's the same game, different decade.

 

[TraderZones]

Quote from PaulRon:

"My guess is...

Absolutely worthless. You are one of hundreds of people who come onto ET, and throw up "I think that:

the market will go up"

the market will go down"

the market will go sideways"

Yes, it will do something. This is a freakin waste of time