Last few sessions brought back memories of the old Claude with the Chinese drip torture of the share price. Figured if I went negative the share price would go up.
I just knew that went passed .50, the sellers were going to bring out their hammers.
You'd think with all the money they've made over the past 3 quarters, they would have addressed this issue. What's with that?
Cash - a simple response to the article does not alter the article writer's position.
Subscribers and the investment community will read the article for what it is and not the responses.
Seeking Alpha latest Claude article
Gold will not get significantly stronger for quite awhile I'm afraid.
And, since the US economy has expanded, a rise in interest rates is inevitable.
Sorry to say but, gold is losing its appeal.
Bid @ .398
You're headed in the right direction.
IMO, any company news release at this time would lead to a sell off event.
I may have bought too high at .4482.
This appears to be headed into the thirties.
And, I don't even have to use scare tactics.
By Kitco News
Wednesday July 22, 2015 09:40
(Kitco News) - After a one-day reprieve, gold prices are on the defensive again, trading below $1,100 an ounce, and one major bank expects the weakness to continue.
Wednesday morning, August Comex gold future fell more than 1%, last trading at $1,087.80 an ounce, down more than $15.70 on the day.
In an interview with Bloomberg Tuesday, Goldman Sachs’ Jeffrey Currie said that he expects gold could eventually fall below $1,000 an ounce as the “worst is yet to come.”
“With the more positive outlook on the dollar, and with debasement risk starting to fade, the demand to use gold as a diversifying asset against the U.S. dollar becomes less and less important,” said Currie in his interview with Bloomberg.
“There is a probability that the market trades below $1,000 this year given our broader commodity view,” he added.
Currie came to the forefront in the gold in 2013 when he warned investors to sell gold. Some market analysts noted at the time that Goldman Sachs’ negative outlook on the yellow metal helped create the biggest decline in the precious metal in 30 years.
Goldman Sachs isn’t the only firm that is negative on gold prices. Tuesday, ABN Ambro said in its weekly research report that it also expects gold prices to fall to $1,000 an ounce by the end of the year and $800 an ounce by 2016.
One source for further selling could come from exchange-traded funds (ETFs) as long-term investors finally unload their positions in the negative price environment.
According to data compiled by SPDR Gold Shares (NYSE: GLD), the world’s biggest gold-backed ETF, gold held in its reserves has seen a sharp drop, declining by 21.75 tonnes since the start of the month.
In a research note published Monday, analysts at Barclays said that they will be watching $1,100 and $1,000 an ounce very closely over the coming weeks.
“If prices fall below that level and breach the $1,000 support target, early money ETPs become loss-making and may beg
By Kitco News
Wednesday July 22, 2015 12:26
ABN Amro is one of the latest banks to downgrade its outlook on gold after prices hit a five-year low; the Dutch bank now expects the yellow metal to be the worst performing precious metal this year. In a report released Wednesday, the bank says that they now expect gold prices to end the year at $1,000 an ounce, and eventually fall to $800 an ounce by the end of 2016. In the short-term, they expect gold to fall to $1,050 an ounce by September, down from their previous forecast of $1,100. The analysts add that they see four factors that are dragging down gold prices: reduced jewelry demand due to weaker Chinese equity markets, improved investor sentiment following a funding agreement made between Greece and its creditors, a stronger U.S. dollar and an eventual rate hike from the Federal Reserve. “Investors will likely liquidate gold positions when US dollar and U.S. rates go up in an environment where inflation expectations remain muted and investor sentiment is constructive,” they say. “[T]he adjustment in expectations that the Fed will start hiking this year have made precious metals that yield zero to almost nothing very unattractive.
By Neils Christensen of Kitco News
Well, if you really must know, I paid .4482.
So, big deal, I rounded it down to 44 for my post.
Evidently, you don't have Scwab as a broker.
However, the point is this went to 45 as I predicted.
If you call that a rant because I was correct in my call, so be it.
Thanks for wishing me good luck trying to "TALK" it down.
The shares I sold at 61, I bought back today at 44.
Told you this would get back to 45.
Actually, it went to 43 on Schwab so, I bought at 44.
Now, you can back the truck up.
Care to join me in a game of penny flippers?