As events unfold and change in this VERY manipulated market some forces would appear to want to take gold down further. If they do look for $1251 which may end up being a false bottom as the CRAZY target might be $1100. If it goes this way look for $1111 as a possible low. Its a real tug of war and we shall just have to see how it plays out. This is just my opinion and should not be treated as investment advice. Good Luck
Bumpety bump...sorry I can't be certain of these USD Gold prices but they might be close. Buy the dip, hold physical Cheers
Posted that in mid May 2013, woke up this morning to see $1251 you have to admit all those predictions put together ie 12th April price smash with silver price and rising GSR, then $1377 Gold and now this, Freaky... I LOVE IT!!! oh and your welcome in advance lol
$1251 false bottom? BofAML Turns Bullish On Gold ZeroHedge on Wed, 23 Oct 2013 18:33:36 GMT BofAML's MacNeil Curry is changing his view on gold from bearish to bullish. The impulsive gains from the 1251 low of Oct-15 and break of the two-month downtrend (confirmed on the break of 1330) tells him that a medium-term base and bullish turn is unfolding. BoFAML looks for an ultimate break of the 1433 highs of Aug-28, with potential for a push to 1500/1533 long term resistance. In the next several sessions Curry suggest buying dips into 1309, cautioning that this bullish view is "wrong" if gold breaks below 1251. For those awaiting additional confirmation of a turn, Curry notes you need to see a break of 1375 (Sep-19 high & right shoulder off a multi-month Head and Shoulders Top).
Surely with all the talk on MSM about the debt ceiling over the last two weeks this has got many many many more people researching what its all about, especially with all the info on the internet........ Surely, some of these new awaken researchers would read about Gold/Silver as being used as a safe haven/hedge against the collapseing USD????? I predicted last year that if the debt ceiling was raised it would be bearish for pms because it would put a collapse off for a while.......But since Oct 17 i'm turning bullish because that freakin debt clock just wont stop and its getting faster and faster and faster as each day goes buy. In 08 they were at 10Trillion, today 5 yrs later they're at nearly 18Trillion, by 2018 they will be at 25TRILLION!!!!!!!!!! I now think we really will see some price appreciation and the lows are over and done with......To infinty and beyond!!!!!!!
Yes I agree Gold should rise not fall. But then I wonder if they will continue to dump paper gold and hammer the price back down? I would think severe damage has been done to the paper gold market so I think who wants paper gold at a Time like this? I don't know so I'm going to have to watch it unfold and see what happens.
For those that are interested.... * IF * we see $1111 I now have doubt it will be the bottom. I'm still around 75% sure the number will be significant to me You know I'm fairly new to this gold numbers / price prediction so doubt is just a part of the learning process. So far so good , let's see what happens Thanks to those that support my work In the meantime....$1100 gold....I've heard that before http://m.theglobeandmail.com/report...rice-forecast/article16243722/?service=mobile Edited as did not feel the need to bump this again....yet lol
$1267 is about the top of the downwards channel......if it can keep below this this positive momentum could sour and lower we will go....I don't know about you but I can't help but feel the positive strength is still there and it may take some time to be consumed.........perhaps it is the feelings of dissapointment of not picking up NCM and SLR a little while ago which I was contemplating.............I am sure a lot feel just like me and perhaps that is what is keeping those stock prices alleviated....i.e. the fear of having missed out so getting in now just in case prices keep rising. I can also see that if 1250 is not maintained, the next level of $1100 will be another guessing game....it gets harder and harder at each level.....$1100, $1000, $930, $840,$700.............because one of these will probably be the bottom...but which one.............there is an awful lot of difference in stock prices between these prices.........it's giving me goosebumps.
Not to be left out Kitco getting in on the Tug of war theme http://www.kitco.com/news/2014-01-3...-Tapering-Physical-And-Safe-Haven-Demand.html @tolly_67 yes I can relate to the goosebumps. Exciting times ahead for physical gold holders, maybe 2015 or sooner?
I am not big on relationships because they change like the weather but one to watch is gold and the u.s. dollar. Gold has a tendency as of late to move inversely to the u.s. dollar. If you go to a chart of the u.s. dollar you will see that it is exhibiting some strength. It is making a higher high tonight to add to the strength. If it breaks 82 it will be definitely out of its downwards channel and will be heading to new highs. This could be very negative for gold for a period and may actually be the signal for a push to the lows we believe may occur with gold. Of course gold can rise with a rising u.s. dollar also, I don't deny that but until a trend is broken, it remains in play. Food for thought at 3am.
ooops...u.s. dollar didn't quite make the clear higher high....maybe next week....still looks good though
$1251 not only turned out to be a false bottom it was also the recent high of this downtrend on 21 October 2014. I predicted a drop to $1100 or lower with my significant number being $1111 We are about to find out, either way I am tired of the paper market ruling the physical price as I am sure many of you are.
I thought it might be best to post here rather than waste more space on another up/down thread. Casey Research with perspectives on the current gold price and future trends. It's worth reading the whole article. and additionally:
Here's a good analysis of the Gold Chart with projections for further weakness with support at $1100 and again at $1000. [youtube]http://www.youtube.com/watch?v=0mq_lfiPjYs[/youtube] And this other guy predicts a final bottom preceding a coming bounce into the New Year based on ElliotWave analysis: http://www.kitco.com/ind/Gilburt/2014-11-03-Final-Decline-Phase-for-Silver-Gold.html
The God's are willing it!? $1111 here we come $5554 here we come No $2000, $3000, $4000 Gold nadda just $5554 and much much higher. If I am wrong a kicking from the wife and others is in order Lol
Good Analysis - you kidding ? right The Bimbo and Gary are sure to lead you astray There is better analysis out there Kitco sucks
