It seems like 1180 $ was the bottom for gold. Now pretty much everyone is bullish: http://www.bloomberg.com/news/2013-...ter-slump-forces-paulson-cut-commodities.html
I'm not entirely convinced yet that this rally will hold and continue upwards either but I'm sure glad that PM's have reminded us that they are still capable of rising to the occasion. Even if spot returns to the basement this rally has restored my faith a lot. I think we all needed a bit of respite from those recent gloomy days. Let the good times roll I say.
These commentators just chase the trend. If a price is falling they are "bearish" and if its rising they are "bullish". How many actually bought or said to buy at $1180? None. Because if they could predict prices they wouldnt be commentators trying to make a dollar they instead would be multi billionaires.
http://forums.silverstackers.com/topic-42627-gold-still-has-room-to-fall.html Jul 16 2013 Gold Still Has Room To Fall http://seekingalpha.com/article/1550742-gold-still-has-room-to-fall?source=email_macro_view&ifp=0 http://forums.silverstackers.com/topic-39676-gold-to-drop-to-1000-or-maybe-900.html April 27 2013 Gold to drop to $1000 or Maybe $900 http://www.butleronbusiness.com/show-archives.html http://forums.silverstackers.com/to...lue-around-800-campbell-harvey-interview.html Jul 16 2013 Gold's "fair value" around 800 $? Campbell Harvey interview... http://www.cnbc.com/id/100886276 http://forums.silverstackers.com/topic-41720-one-last-hit-fomc.html June 23 2013 Pure speculation of course but I wonder if the end of July FOMC meeting could push Gold to a possible USD $1111 ish low? http://forums.silverstackers.com/topic-42097-another-1ooo-gold-call-rick-rule.html Juli 07 2013 Another $1,ooo Gold Call - Rick Rule http://video.cnbc.com/gallery/?play=1&video=3000180011 http://forums.silverstackers.com/to...000-nouriel-roubini-prediction-responses.html Juni 09 2013 Why Gold Will Crash To $1,000 - Nouriel Roubini Prediction & Responses http://forums.silverstackers.com/to...ay-down-to-around-1000-silver-tags-along.html Juni 05 2013 Gold on it's way down to around $1,000 - silver tags along http://seekingalpha.com/article/147...-why-his-thesis-is-spot-on?source=email_macro
I'm in two minds.... Either pay the price now and be prepared/stacked as much as possible and then keep buying as prices continue to rise OR, wait until September for the debt ceiling to be raised and then see what happens in 2014 and IF Gold crashes...BUY AS MUCH AS YOU CAN AFFORD!
Also dann, Pirocco, what do you think? Is it going lower? Honestly I first expected it to go to the 1,000 - 1,100 $ range, closer to production costs. Now with this spike and bullish atmosphere, as well as ETF's up, I'm perplexed.
i also suspect that this may not be the bottom. but its hard to tell, gold has been in down trend for 2 years in a row. but what has changed? nothing has improved but they did a very good job manipulating it. if i have spare money, i would be comfortable to buy. but if gold ever touches 1000 dollars mark, I AM ALL IN. call me crazy but gold at 1000 dollars is just insanely cheap. who cares.
It's quite possible that this spike will bend backwards and the entire scenario will degenerate into a more bearish downtrend... Not sure.. what I find more interesting is silver's spike and it's holding on quite well.
the 1200 gold was set in place as a target two years back, so there is no new lower target so far, yes 1180 looks just like a bottom.
what do u mean by that, set in place by who and for what reason and how did u come to that conclusion? p.s i'm not trying to have a dig just curious to hear the reason behind that theory/fact
