Stage1 QE must send inflation soaring, ABX and its ilks are leverage power plays on gold run
Stage 2, no inflation? economy must be on brink of collapse, with deflation, gold will soar too.
Stage 3, gold not soaring, how come, must be manipulation, and people are stupid
Stage 4, ok, even if gold has down a little bit, ABX is way undervalued , so much gold to be mined
Stage 5,. project delay, well, ok, I can wait, a good investor must learn to be patient, you know
Stage 6, Gold down a couple hundred dollars,.must be close to bottom, another QE and people will wise up.
Stage 7, QE comes and goes, ouch...damn the stupid economy, stupid people
Stage 8, Stop digging gold ABX please, get into survive mode,else total wipe out
Stage 9, I am still smarter than the market. Nothing can prove me wrong. I can always rationalize.
if they keep manipulating gold down, your rationalization is toast. gold has dropped because they are going to end QE3 or whatever. If so, I've heard inflation will fly but the market is saying no more printing means gold drops. I wish someone that knew what they were doing would enlighten me.
Since 2008 the major countries with global currencies printed 10 trillion equivalent dollars, all just paper of course. Not sure when but as can't print more gold, its path has got to be up. Still high risk another country will default including USA in about 25 yrs if can't rein in entitlement spending on whiny elderly.