Would you buy gold now?

Yes absolutely, buying sovereigns at the moment as I'm patriotic and just like them anyway.
Attached to them, no way. If the price is right they will all go. Having said that I would miss them.

 

Geopolitical tensions pushed gold up above 1,300 $.

I am expecting this to be a "bump", it might go down to the lower 1,200's again...

 

why wouldn't u?

 

Because you bought 200 tonnes and drove the price up.
We're now waiting till you found some suckers or central banks to sell it to.
Then we'll back up the truck again.

 

The votes so far:
20 YES
1 "DEPENDS"
5 NO

 

Yes, 1300 is not a bad price.

 

You could be right....it is not a "bad" price.....wait a while and it will in fact be an "horrific" price....far worse than "bad"

 

That's what they said last time.
Then some horse threw the price on its back and galloped.
Were you riding it?

 

no....because it galloped into a brick wall.

 

:lol:

A little drop today. Just under 1,290 $. It's been in the 1,100's too, remember?
Just wait and see what it does during September and October - the latter is usually a bearish period.

The votes so far:
20 YES
1 "DEPENDS"
6 NO

 

I said yes that makes 21

 

The votes so far:
21 YES
1 "DEPENDS"
6 NO

 

Gold is likely to continue its downward price trend over the remainder of the year, so NO.

 

But but but, $19 > $21 is 10% profit.
What happened? Did the horse throw you off or so? :/

 

We're already 1.5 month in the downtrend, so 1.5 remaining, now 21/08, so it will end around 2nd week of october. That's 2,75 months before the end of the year.
Where exactly did you get that 'likely'?
Don't say Gut Feeling! :/

 

The votes so far:
21 YES
1 "DEPENDS"
7 NO

 

You are predicting the bearish phase to end by the 2nd week of October?

I wouldn't be surprised if it dipped below 1,200 $.

There might be a chance the next one will be the last big dip and then gold will start rallying. So far the correction has been around 37 %. It might be 40 % or slightly more and then it's over.

If gold follows the rules.

But who follows the rules nowadays?

 

Massive smack-down with gold breaking $1280 - usually this implies something to be announced. Any bets Draghi will announce QE-Europe on Friday ?

 

I don't predict that, it's just a typical cycle period since quite a while so it has a fair chance to continue.
http://finviz.com/futures_charts.ashx?t=GC&p=d1
What rules?

 

Why would he? Remember, some months ago they said that the euro was too strong, so they brought it down. A QE would bring it down further, and they like to keep their currency snakes within their targeted tunnels.