Andrew Maguire This Will Send The Price Of Gold Hurtling Into The $1,400s http://kingworldnews.com/andrew-maguire-this-will-send-the-price-of-gold-hurtling-into-the-1400s/ chart showing the price of gold (as reflected through the ETF GLD), Andrew Maguire: "Eric, in my opinion no one knows the true, undiluted supply/demand price of gold. But what we can be sure of is that is substantially above the current paper price. Once gold breaks out above $1,308, and large short stops are triggered, I see a very fast move in the $1,400s,
Funny! :lol: Maguire gave the same interview (they are all the same) on 16 Sep 2013. [https://www.goldbroker.com/news/jpmorgan-whistleblower-interview-moves-gold-market-326]
Given his track record, I suppose the important question would be.... when would be the right time to listen to him?
O.k so wots going to happen with this most recent rally? 2 weeks ago it broke 1300 but then fell back to 1200 after Yellens no interest rate rise comments. Now its rising again and only 30 off 1300. Will it break through 1300 again and push thru to 1400?
Bing....."The sound of the oven alarm"......the cookies are ready to eat. $50 to $60 drop in gold Monday night or Tuesday night..... hold on to your hats.
What makes you say there will be a $50-60 drop Tolly? I was really hoping we might break thru $1300 and push onto $1400 over the next couple of weeks???
Law of averages, albeit odd anyone would have anything baking in the oven for a week without being burned.
It is just what seems to happen. The U.S. dollar is building a base....It pushed lower which pushed gold higher. I am really expecting a dollar push forward next week. This is what will cause the gold drop if I am right. Many people think that gold has bottomed and is going push the $1300 mark and above. Me thinks differently.
Only a matter of time before you call it right. Considering your last call couldn't have been more off, I'll back you in. Good luck.
Come on.....It's all in fun. I am only going off gut feeling which is probably the worst way to invest. I am simply moving in the opposite direction to what I believe the expectation is. If I am right next week.....that will be the first for me.
The DXY went up Friday and gold also went up nearly a percent. There's some pretty skittish mainstream financial reporting and there's a lot of reporting on Soros, Druckenmiller and Ikahn's gold plays and bearish bets. The USD will likely push way way higher wuth BREXIT on the table it will flush a lot of forex out of both sterling and euro into USD and to a lesser extent CHF and despite their central banks insanity as well as horrible import and export figures the yen will likely catch a bid. It's risk off and unwind everywhere. Question is will money going into gold as a defensive play outrun the DXY, I'm guessing with Fridays NYSE performance that it will. People aren't going to flood into equities and with rate hikes still maybe on the table USD denominated bonds aren't going to look that attractive. It's actualy a pretty good set up, if gold can go up to say 1285 with a couple points added to the DXY it could get a push well into 1300 as the tide goes out when there isn't a BREXIT abc things go back to normal. All I know is I'm glad I got a little in before .74c aud/usd was gone, Chinese debt bubble bursting could crush the aussie.
I believe the rate of change in the upwards movement of the U.S. dollar will have the impact on gold. I think at the moment, money is hedging either way but when the dollar really breaks to the upside in a big move, money will revert to the old ways of dollar up and gold down. I am expecting the big move next week in the dollar. A move up to 97 in one day...that kind of thing.
Your gut feel is likely to correct more often than the average web charlatans masquerading as experts.
If I am completely wrong I will simply hide for a few weeks until this topic disappears onto page 2 and quietly re-enter some new topics with some more ramblings. I am sure most people have a short memory. I should be alright.
haha, no way. That's what is alright about ya. For those prepared to keep guessing and put their thoughts/reasons out there is good for the crowd. Win some lose some. You don't lose any respect for having a crack.
Wholeheartedly agree. You never know what idea, no matter how nutty might spark off an idea that works for you.
I am in your camp on equities receiving the lions share of capital from this up and coming disaster. A Brexit will be the first nail in the coffin of the European Union and the Euro currency as we know it. Only those that are in power will flog the dead horse for their own gain. The U.S. dollar is going to skyrocket. I would not even be surprised if U.S. bonds actually benefit even with a possible rise in interest rates likely. If the rates don't rise until the end of the year and the Brexit occurs, the U.S. bonds will become hot stuff.....for a short while anyway.
