Man, they talk a good game but gold is no where for around 3 years now. All the guys that supposedly "KNOW" the market from a fundamental and technical standpoint have been flat wrong. Yes there is run away physical demand. Maybe the technical show we should go higher, but it does not happen. Are the markets manipulated? Probably - all other markets are as well and that has been proven. Maybe no one really wants to know the truth. The House just passed a bill to audit the FED. Greenspan Is on record saying that a Fed audit would freak out the markets. As Chuck Prince, former CEO of Citigroup, famously said "We will dance as long as the music plays" That was 2007. By the time the next financial bomb goes off, all the gold bulls will be gone. What a strange world we live in.
Listen Jock strap. Gold has been dropping since March 2011. The rate of drop is slowing down. Bottom in gold is near. Gold has a definite floor and we are approaching it. Soon, gold will get so cheap that the gold miners will shut the machines down. Then supplies will tighten. Gold will start to move up after that point.
What is the bottom? $950-$1250. In between there is the bottom.
You post on every gold stock otto. Do you have down Syndrome? Are you a Mongoloid? The gold price is being manipulated. Why is China buying gold? The U.S. dollar is overbought. The Zionist bankers who create money attach debt to every dollar, insuring devaluation over time. No way gold falls below $1150,00 ever.
It is option expiration week, girls, and the gold/silver CALL WRITERS in the slimy wall street club are SUCKERING ignorant small spec FOOLS into buying gazillions of WORTHLESS gold/silver CALL options, again.
Given how terrible the entire gold/silver sector trades today, there is NO logical reason for this AEM mega-bubble to trade in the green today...NONE!!!!
Gold prices are steady to slightly higher in early U.S. trading Friday, but have backed down from the overnight gains that scored three-week highs. There is still some risk aversion in the market place heading into an uncertain weekend on the geopolitical front. December Comex gold was last up $1.40 at $1,313.90 an ounce. Spot gold was last quoted down $0.30 at $1,313.25. December Comex silver last traded up $0.026 at $20.085 an ounce.
Geopolitics is front and center in the market place Friday morning. Thursday night President Obama authorized air strikes against militants in Iraq, who have thousands of civilians trapped without food or water on a mountain in northern Iraq. Also late Thursday the cease-fire between Israel and Hamas was broken. Hamas is again firing rockets into Israel, and Israel has resumed air strikes on the Gaza strip. The Russia-Ukraine crisis has heated up this week as Russian troops are massed at the Ukraine border. Reports also said Russian rebels shot down a Ukrainian military jet Thursday.