Look like the fear trade has been temporarily suspended

Discussion in 'Gold' started by hem9, Aug 12, 2011.

  1. hem9

    hem9 Active Member Silver Stacker

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    Look like the fear trade has been temporarily suspended - the price of gold seems to be inversely proportional to the optimism returning to the stock markets. So gold will probably go down and try to build a trading base till the next shock in the world economy. How low can it go? Hopefully balances out at $1600.
     
    hem9, Aug 12, 2011
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  2. Sargeant Argent

    Sargeant Argent New Member

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    I'm waiting for 1600's again before I make another buy.
     
    Sargeant Argent, Aug 12, 2011
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  3. Silverthorn

    Silverthorn Well-Known Member

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    If we get a short period of good news silver will be well supported and help gold. $1680 with $1650 for a worst case bottom for mine.
     
    Silverthorn, Aug 12, 2011
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  4. jpanggy

    jpanggy Active Member

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    U.S. market rally did nothing significant to price of gold last night.

    I guess everyone that bought gold is still holding and waiting to see the market condition for next week.
     
    jpanggy, Aug 12, 2011
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  5. Old Codger

    Old Codger Active Member Silver Stacker

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    Don't know, don't care, not interested.

    For me, PMs are a on-going store of value over the next ~10 years, and what they are worth next week means nothing more than a cheaper price if a sale offer comes along.

    I believe in my bones that the long term trend is UP and the only real unknown is the angle of the trend line.


    OC
     
    Old Codger, Aug 12, 2011
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  6. silvertongue

    silvertongue Member Silver Stacker

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    I wouldn't be surprised to see the GSR continue to rise for a little while. It's rare that after a spike down to 32, it does anything but rise again for a while...
     
    silvertongue, Aug 13, 2011
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  7. vintec

    vintec Member

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    agreed that long term trend is up, it's a no brainer; but what we're talking in this thread is the micro trend in short/medium term. some who knows what they're doing takes advantage of their knowledge and current situation to make bonus gain on top of the long term goal. I for one is interested in the micro trend to maximise my stack with highest efficacy


    media have been relatively quiet compared to the past 2 weeks, dropped down to A$1660.50 this morning before fluctuating again
     
    vintec, Aug 15, 2011
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