What we are seeing this past week is just a bullish hiccup: http://seekingalpha.com/article/1635372-gold-where-its-going-next?source=email_macro_view&ifp=0
ML, I would love for them to be right, but I don't think so. This appears to be a real move in the miners and by proxy, in the metals. Dr. Copper and oil are both up and that indicates higher pm prices. My dream scenario of dirt cheap mining stocks is gone. I covered my hedges late last week and started going long. This puppy has legs.
I could be wrong but I'm calling it a spike and those who are buying on the rise are giving away $$ unnecessarily....patience will pay off I believe....I'm laying low for this hiccup. .
Patience will either make you very happy or very angry. If you were out and had to take a crap, you could either be patience and wait till you get home or use a not so clean toilet now and feel relieved it's been done. If you got home in time then being patience and holding it in would be great as you could take that massive crap in the comfort of your house with a BIG smile on your face. Or it could be terrible if you didn't make it and crap yourself in the street.
Yeah :lol: Wouldn't it be even stranger if there were a stubborn group of ball gazers predicting that silver will unquestionably rocket? Oh.. Uh.. mmm. :/
well thats what our crystal ball keeps saying! wish we had one that worked. oh it work today though =D maybe if we combined your crystal ball with ours it might work better.
Even stranger are those stubborn ball gazers that have a specific low in their heads and search for all opinions that confirm their wishes (the OP springs to mind ) Only the futures market traders that are big enough to move the markets (ie the bullion banks) know where the price is headed Everyone else making a prediction is just reading tea leaves I just assume I cannot predict future prices and get on with it
Best analogy I've heard all week. Think I'll buy some today after all. Can always dollar cost average on the way down again if that's indeed where it heads.
This rapid rise is only a function of a falling u.s. dollar, which will be short lived. It has nothing to do with crystal balls, only confidence which dictates capital flows. The euro and the yen are in dreamland at the moment and soon the realities will emerge once again. Money is not safe in European banks or bonds and will make its way to the only things capable of absorbing this amount of capital. The u.s. dollar and stock markets. The u.s. dollar will also fall but it will be the last to fall. Gold is still not showing any real strength of its own as it moves rapidly in opposition to u.s. dollar moves. In time, when confidence is high in gold, it will move independently. The fed will not Q.E. to infinity as everyone speculates. We are on the verge of rising inflation and interest rates and this Q.E. will soon be over. Don't listen to Bernanke, wait for them to act. Then you will truly see how high the u.s. dollar will rise and understand that this rise is the current number one contrarian play in the world. Not gold. That contrarian play is still to come. Higher interest rates will crush European banks first, so be patient. This rise in gold and silver will help to alleviate the pressure building for a rally in prices and then comes the next move down.
+1 Unless the Eygptian crisis escalates across the border. Lara has been on the money! http://forums.silverstackers.com/topic-40637-gold-elliott-wave-technical-analysis-22nd-may-2013.html
I tend to agree. There could be a further smackdown this quarter in the order of 10-15% at most. September/October time period. The German elections will dictate the next move for Europe. If Angela Merkel gets re-elected there will be no more bail-outs. The German people have had enough with their country being used as a pony ride.
