UP $11 in London. Indian festival season, wedding season. China Oct long holidays,weddings, Christmas New Year. Stronger than expected PMI in Europe, France is good. Euro bouncing.
Fed 2015 budget project $250 spending increase. Even before higher interest payment as hypothesized by FOMC.
Every trader is short, every technician calling for more short on bounce.
Gold may have bottomed on Monday. Miners however may run into end of quarter window dressing problem. I will start buying today. $1178 maybe no show. Ship is too one sided.
Give it time. Some of them WILL be dead within the next year or so.
Those companies that hedge prices will have a fighting chance. Unfortunately, that excludes most of the biggies in the index.
Oh and BTW, that BV is not worth the paper it's printed on.
Nice retest lows with high volume selling. 'Minute' charts show huge outflows, which are invevitably followed by...inflows...someone by the very folks who are yelling 'Out! Out! Bk! No more safe haven in gold/silver! Caution! Stay away! Will go lower and crash to nothingness!'...
JNUIG and GDXJ did fall outta lower BB, btw.
All only my opinion.
Profit for Good Causes
Stick with physical bullion you take delivery of, and actually OWN. Not a Ponzi chain of derivative ownership that might become embroiled in a legal mess. Read the Prospectus. Lol
Euro touched 1.2 in 2010 and 2012. First becaused of financial crises panic buying everyone moved money into US$. Second one because of PIIGS debt crises. Panic sent Euro to 1.22. This time is mere small interest rate difference. 1.285 was touched many times in 2013 during the Greek crises and held.
They have a long way to go. Average Indian owns 0.2 ounce. They could keep going.
Gold production cost is $1200 across most mines. There is no reason anyone involved want gold lower. Even shorts ,central banks and bullion banks do not want mines to close. They will not be able to cover.
China central banks needs more gold to make Yuan an international reserve currency. Closed gold mines doesn't help them accumulate gold.
I'm sticking to my plan. Gold triple bottom at $1178 I will sell most of my stock and bonds put it in gold. Half my net worth. US, Europe,Japan China all taking turns issuing paper money. Gold is eternal.
you make me want to short more. desperadoes like you will be washed out or just sitting guarding ur 500 oz gold
Sentiment: Strong Sell
Who, is included in the word "OUR". Unless it is the usual GLD manipulators........not a factor here.
I am afraid your statements are in your wildest dreams. The metals are a real #$%$ right now and I do not think anyone in their right mind would invest very much in any of this chaos. Good fortune to all!