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12-12-2008, 10:42 AM
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523 posts, read 1,369,725 times
Reputation: 134
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Gold could very well end 2008 in the green (or at least flat).
Gold closed at $834.50 on Dec. 31 2007 -- $822.00 an ounce so far today
Compare this to the DOW...
12,800 on Dec. 31 2007 -- 8,450 so far today
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12-12-2008, 11:46 AM
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Location: Wouldn't you like to know?
9,116 posts, read 17,038,992 times
Reputation: 3722
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Don't have all your eggs in one basket.....  |
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12-12-2008, 02:55 PM
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Location: Great State of Texas
86,052 posts, read 81,269,577 times
Reputation: 27707
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Usually when the market tanks and recessions loom..gold soars.
Only this time it's not. Here's an interesting piece:
NMMM Finance Notes: Russell: Gold is being manipulated
From Dow Theory Letter
by Richard Russell
Thursday, November 13, 2008
I've never been a big fan of the "gold is being manipulated" thesis. However, I'm now giving the manipulation thesis second thoughts.
Most of the world's central banks are now in the process of fighting recession and deflation. This requires government spending and the production of enormous quantities of new fiat money. The last thing the central banks want is for the public to realize what they are doing.
Normally, surging gold would be the signal for the public to ask questions -- rising gold is a red flag for the fiat money creators.
It's amazing and beyond coincidence the way gold rallies and then immediately is hammered down below $740. I know that there are huge short positions in gold on the COMEX. I'm no longer a skeptic on the "gold is being manipulated" claim. Somebody is selling gold every time gold rallies toward a breakout above $870, or more properly gold at $840.
I don't think the manipulators (if there are such people) can keep it up. |
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12-12-2008, 05:21 PM
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Location: Los Angeles Area
3,306 posts, read 3,909,846 times
Reputation: 592
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Oh geez...that is so banal. When what you think should happen doesn't happen you create boogie men to explain it.
By the way money in a CD did better than both gold and the DOW = )
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12-14-2008, 11:54 AM
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Location: Backwoods of Maine
7,430 posts, read 9,871,806 times
Reputation: 20972
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Quote:
Originally Posted by HappyTexan
Usually when the market tanks and recessions loom..gold soars.
Only this time it's not.
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True, it's not...YET.
Right now, It's being sold like crazy by hedge funds anxious to raise cash for margin calls. Only reason it hasn't fallen out of bed is - everybody wants it. If there is no shortage of physical where you are, there soon will be.
Get it while you can. |
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12-14-2008, 10:44 PM
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Location: State of Superior
8,732 posts, read 15,358,455 times
Reputation: 2862
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Gold is on a roll tonight ,......... I think the market open tomorrow will be quite interesting for those holding gold. The Miners are staged for a comeback , especially those companies that have reserves , and or are producing. The dollar will fall big time , before the year is out........just my opinion.
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12-15-2008, 10:48 AM
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523 posts, read 1,369,725 times
Reputation: 134
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Gold bull is on the move again today as the FED and the Federal Government continue to devalue our Dollar. Gold is now positive YTD.
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12-15-2008, 11:03 AM
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Location: State of Superior
8,732 posts, read 15,358,455 times
Reputation: 2862
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The only door that will open now is the devalue one, and , that will be very positive for gold. lets hope inflation gets moving up , might give us a breather before the really big one coming......Doomsday is just around the corner for most of us , its already here in you live in Palm beach , Fl.
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12-29-2008, 09:30 AM
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523 posts, read 1,369,725 times
Reputation: 134
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Gold currently up > 5% YTD.
Yet the "experts" are still claiming that the precious metal "bubble" has burst. Only time will tell.
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