Gold/ SILVER TO RISE FROM OPENING BELL?

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errol43

New Member
Silver Stacker
IMO the prices of both will rise tonight...Profit takers have had their fill over US trading holiday:)

What's your call?

Regards Errol 43
 
I expected some profit taking (took some myself) though I was surprised to see it drop below $1200 USD.

Would think that some consolidation might be required at this level, but the key event tonight will be the OPEC meeting between Russia & Saudi Arabia. If they don't get an outcome tonite I'd expect Oil to sell off hard, therefore equities would sell off hard and gold would be back in "safe haven" demand.

If the OPEC meeting produces an agreement on production cuts then the equity rally might have another while to run and gold could be weighed down as the market rushes back into riskier assets.
 
BuggedOut said:
I expected some profit taking (took some myself) though I was surprised to see it drop below $1200 USD.

Would think that some consolidation might be required at this level, but the key event tonight will be the OPEC meeting between Russia & Saudi Arabia. If they don't get an outcome tonite I'd expect Oil to sell off hard, therefore equities would sell off hard and gold would be back in "safe haven" demand.

If the OPEC meeting produces an agreement on production cuts then the equity rally might have another while to run and gold could be weighed down as the market rushes back into riskier assets.
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So after all that weighed up in your mind, any danger of actually answering the question? Up or down?
Thanks mate
 
I'll toss my hat in the ring and say up on the day due to no OPEC deal. Russia and Saudi Arabia are on the brink of going to war with each other in Syria. Can't see them being too co-operative about cuts in oil production. May get a "progressive talks to continue next week" etc type scenario just to keep the oil price from completely falling off the cliff.
 
BuggedOut said:
You want me to predict the outcome of the OPEC meeting?

Get bent dude.
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So essentially, you're walking around with your dick in your hand. Writing novels of "if's". If this happens, if that happens, but won't make a call based on your entire yawn? Why even bother. You've cornered the market with your OPEC dribble.

I guess, either way you'll be right. Your bank account will be the same, and your dick will still be in your hand.
 
BuggedOut said:
You are correct. I should not bother.
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Don't be a sook, I assure you I totally appreciate your input. I've seen the calls you've made to the fuckin minute, admirable.
No shame in having a crack and getting it wrong.

All good mate.

Please, keep bothering.
 
Caput Lupinum said:
I'll toss my hat in the ring and say up on the day due to no OPEC deal. Russia and Saudi Arabia are on the brink of going to war with each other in Syria. Can't see them being too co-operative about cuts in oil production. May get a "progressive talks to continue next week" etc type scenario just to keep the oil price from completely falling off the cliff.
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I'll make a prediction and say by years end oil will be around $100 a barrel. Oil cannot keep staying this low for too long. Too many hands are losing big dollars.
There is a reason oil is this low and it's not because no one wants it or because they found vast new deposits.
 
errol43 said:
IMO the prices of both will rise tonight...Profit takers have had their fill over US trading holiday:)

What's your call?

Regards Errol 43
Click to expand...


<-------SIDEWAYS----------> until war breaks out
 
BuggedOut said:
You want me to predict the outcome of the OPEC meeting?

Get bent dude.
Click to expand...

I'll have a go......it will probably go something like this...

Arabs : would you like us to cut pumping oil, and let prices jump to $100 ?
Russians : please....yes, we would like very much! (spoken in heavy Russian accent)
Arabs : just let us roll in.... and smack Asaad around a bit.
Russians : giet bent dude.
 
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