It's just a number. Don't expect magical things to happen just because it hits $1764 no matter how much someone claims it is backed by mathematics. The truth is, when you're dealing with so many variables, one of which is unquantifiable human nature, all statistical predictions are guesses. The best we can do is understand the general situation (ie. people are running from stocks and into gold and US T-Bills)
It must have hit Jim Sinclairs 1764 while I wasn't looking - and ......... well............. down she went! Can somebody tell me why gold and silver both fell at the same time?
I'm just happy to see it dropping a bit the growth earlier in the day was unrealistic and probably due to panic. I don't plan on selling anytime soon and my targets are a long way off. I like to see it rise but I love to see it drop
We are certainly seeing a bit of volatility here - who said gold was less volatile than silver? Jim Sinclair's prediction = fail! :|
Yep - thought there would be a massive spike upwards! - actually I'm a skeptic and can't for the life of me see how a figure like that could make any difference whatsoever to the gold price! :/ But everything else he says is spot on!
There's often a retracement when his numbers get hit. What he is looking at is arithmetic progression that should start to get steeper now. Based on square numbers he said in the recent interview with turk. Phase 3 coming up.
I think we saw artihmetic progression in gold already this morning and thats probably why it took a plunge. Well lets wait and see how it goes on the next spike up! I can see how as the price gets higher the dollar changes in spikes and dips gets bigger. I remember when a $10 change in the gold price was newsworthy, now it is jumping up and down in much larger amounts! - What will it be like if it ever gets to $5000 an ounce - the spikes and dips would be 100s of dollars at a time!