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gold

Might as well post over here as at markets, it all goes the same place.

 

Like the fallout from the parabola noted in siver a couple months ago. gold gave a second chance to sell if you were so inclined.

 

Probably need trade under 1750 or so to put a fork in it.

 

I've remained comfortable that $50 was a very significant high in silver, maybe the generational high but we did get a longer but not necessarily higher bounce. FWIW, I sold my physical last week so you can poke fun at me.

 

A very poliitcal topic, strikes the the heart of a lot or quasireligious beliefs about the nature of things.

 

I'm just sayin', the charts at least deserve consideration.

9 Replies
Veteran Advisor

Re: gold

Thought you were holding on to it as a hedge when the hoards overrun the country??

Senior Contributor

Re: gold

The only way I'll ever have any gold is if I pan for it or otherwise mine it. I'd love to spend some time doing that some day....

 

I wonder what a silver quarter is worth these days? In silver anyway because its always worth a quarter.

 

Wait...I have answered my own question. Looks lika all that childhood coin collecting could pay off if I ever needed it:

 

http://www.coinflation.com/coins/silver_coin_calculator.html

Re: gold

Might again someday. Might not- might have let it get away.

 

But you always gotta sell the rhino horns.

Advisor

Re: gold

We're so far out of the norm, its all just a wild guess. I certainly don't have a clue. I would have expected silver to continue down to < 30, not back to > 40. Did you expect gold to drop on the chf peg? I didn't.

Re: gold

I was just looking at the parabolic chart move in gold. My confidence in a silver top provides some supporting evidence.

 

In taking a very long term chart view, I try to avoid thinking about the daily news and gyrations.

 

From an EW point of view I'd like to see a close under 1800 to be confident of a top. Just jabbing it wasn't enough.

Advisor

Re: gold

So you're calling the generational high?

Re: gold

For myself, yes. For anyone else, make your own call, I got enough of me to worry about.

 

Thought I'd put that out there, fully aware that I could be placing myself in the stocks on the village green.

Senior Advisor

Re: gold

Think as always, it all depends. Does the ECB stand down as the EU fails or does it print money? Your guess is as good as anyone elses. I think the riots in the streets will cause the ECB to hand out money to who ever demands it.

Re: gold

30 years of watching markets tells me to sell rhino horns when they reach near vertical.

 

That is easy if you're already long- so what if you miss the top.

 

A lot tougher to initiate shorts.