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"Bounce in Gold is a Dead Cat"

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  • "Bounce in Gold is a Dead Cat"

    Gold may have temporarily corrected, but the bottom is lower:
    http://seekingalpha.com/article/1552...cro_view&ifp=0

    It's supposed to be a temporary jump before it goes lower...
    Personally - I'm more interested in silver's price.

    I guess they're right, I personally believe that gold's bottom will be somewhere around the production costs, porbably at around 1,000 $. But then again, it's only my guess...

    One of these days I read a Bundesbank declaration, according to which gold's correction has "mostly" already happened. But Jim Rogers believed that the bottom is even lower.

    What do you think? Has gold bottomed out?

  • #2
    Re: "Bounce in Gold is a Dead Cat"

    Originally posted by GoldMiner View Post
    Gold may have temporarily corrected, but the bottom is lower:
    http://seekingalpha.com/article/1552...cro_view&ifp=0

    It's supposed to be a temporary jump before it goes lower...
    Personally - I'm more interested in silver's price.

    I guess they're right, I personally believe that gold's bottom will be somewhere around the production costs, porbably at around 1,000 $. But then again, it's only my guess...

    One of these days I read a Bundesbank declaration, according to which gold's correction has "mostly" already happened. But Jim Rogers believed that the bottom is even lower.

    What do you think? Has gold bottomed out?
    No one knows where gold will go in the short term, including you, and especially the writer of that article. However most here do believe where it will go in the long term.

    Personally I look at the massive drawdowns in the physical space for the COMEX & LBMA and see a short squeeze with no major new supply coming in to back up those drawdowns.

    Comment


    • #3
      Re: "Bounce in Gold is a Dead Cat"

      True: no-one knows. But I always find analysis useful. As a small stacker I need to get documented. Yet, I know not all sources are totally accurate, so they can't predict anything precisely. Even knowing with approximation or understanding the factors helps in finding the next best price to buy.

      OK, so this is it: I think this is not a strong bearish trend's start. It's just a spike. If you watch the charts, it looks like a set of stairs. I personally think that after this a fall will occur. And the downward staircase will continue...

      I'm always open to ideas from people who know/understand more about how this market works. I'm a PM bug, but no expert. Hope to learn more about precious metals... eventually this entire financial system will end somehow...

      Comment

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