Has gold bottomed?

Yes. It's on a slow and increasing climb from here. US dollar is going down and as that happens capital flight to gold will be seen as one of the only places to hide.

..... is my wild guess.
 
BTW on 1 July the IRS gains total access to all international accounts held by US citizens - which of course means that most international banks will refuse US citizen accounts - and so US citizens won't be able to ship dollars offshore: capital controls which most bankrupt countries undertake before their currency devaluations.

USD devaluation will mean soaring gold also.
 
Gold has moved from sub $1,200 to $1,370 in three months; about a 15% gain. Whether this was the fundamentals kicking in as a hedge against QE or perversely linked to the tapering is hard to fathom. Traditionally there is a post Easter/summer smackdown but tradition seems to have gone out the window.

I'm starting to think that we will soon see Gold used as the yardstick currencies will be measured against rather than vice versa. This won't stop the breakouts and smackdowns but perhaps give us a better base to judge currencies against rather than the current index used now.
 
Marc Faber says the gold correction ended in 2014 already.

Jim Rogers expected the correction to continue through 2015 as well.

It's confusing.
 
TreasureHunter said:
They will have FOMC meetings on March 18-19. We'll see whether they say anything about more tapering.
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Looking forward to this... I think they will continue with the taper one more time before having a break. If they have a break at this meeting, combined with the buying we are seeing now due to Ukraine issues, we will see a good rise.
 
JulieW said:
USD devaluation will mean soaring gold also.
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The real question is, will it predominately appreciate against the US$, or will it be for other currencies ie A$ as well?
 
The two big consumers of gold:

If there is contraction in China as is feared will it dampen gold demand there? Common sense might say yes. No is the hunch of Marc Faber. He figures the China totalitariat will weaken the Yuan in response and Chinese savers will be more attracted to gold.

Sprott Global, March 7, 2014
Why Gold Looks Better than the S&P: Marc Faber

Also the Indian federal elections soon - the right result will ease gold importation restrictions. Lot of pent up demand?
 
I think there's a chance we're witnessing a bit longer sideways trading. In July-August it went up until early September, then until December it kept dropping.

The last low point was lower than the previous one and we'll have to see if the next minimum will be even lower.

...if the bulls haven't indeed gotten stronger, then this is just a spike before the next drop or, just part of sideways trading.

In case it's sideways trading or a spike before the next drop, then we will see correction in April, May, possibly even in June.

In my humble opinion...
 
You'll know silver and gold have truly bottomed when SilverSale changes his name to SilverBuy

:lol:
 
Still seeing a reverse correlation with u.s. dollar at the moment....if it continues and we see a large rise in the dollar in a short space of time then we could see this gain in gold evaporate.
 
TreasureHunter said:
If China continues to deliver weak economy-related results, then we'll see even cheaper silver.
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Hi TreasureHunter. What is the link between weak China economic results and a drop in silver prices?
 
SilverPete said:
TreasureHunter said:
If China continues to deliver weak economy-related results, then we'll see even cheaper silver.
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Hi TreasureHunter. What is the link between weak China economic results and a drop in silver prices?
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Hi,

There is a connectionbetween Chinese industrial use of silver and industrial production. They're an export economy and they export products, many of which contain silver (electronics, car components etc.) - most important are the solar panels and other energetics-related products, for which they use tremendous amounts of silver.

Listen to the video at this link:
http://www.kitco.com/news/video/sho...bove-$1400-If-Unrest-Continues-For-Petes-Sake

The less China can export, the more their industrial production falls, the less silver they use up, the lower silver's price goes.
 
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