because it may actually work now...it has been sold and sold and sold at every pop...this isnt copper or iron ore or global industrial commodity...this is insurance for the stuff in the ground is valuable as the US keeps digging the whole world deeper into a financial armageddon
lot of talk about the illiquidity in the bond mkt especially with a rate hike exacerbating the situation....better hope for a calming down cuz I don't feel calm. long the miner
i'm no die hard gold bug...but fact is gold in the ground given "no value"...is absolutely mind boggling and investors seem completely paralyzed with indecision on many fronts...gold being one of them
they just walked her down into strength...$6.9-$7 area....come to papa barreeeeeekah
makes no sense....
not expecting it because gold is getting broken down thru support at 1075...but just not convinced this has follow thru in the next few weeks...well we've been surprised before and $1030 may be in the cards...It's hard to believe..it is a commodity but it's in huge demand. I think this downdraft has something to do with the cheinese Yuan now getting IMF backing..thus less need to "show their gold".
and we are in way oversold conditions on GLD...
I think the market has completely discounted this asset and it could change...govt's need money
stay long ...it takes time but tide has turned
they're executing well on debt reduction...now it's all up to gold...and gold is looking over the edge of a cliff at 1080...may or may not hold..i'd guess it will head lower unless no fed hike
and a falling gold price short term...should be interesting how institutions react...
it is becoming more and moar obvious that some are accumulating here...nothing else is really working..let us see...shall we?
with short interest negligible and conviction either way neutral...I'm going with the gold bugs..on the long side...banksters will have to dump serious paper and that is the uncertainty. rates going up?..ok and gold has followed rates higher before. dollar up inverse to gold ?...true but dollar move up could be limited with so many fx variables....finally what works in a weakening equity mkt?...a beaten down sector with value
it ai'nt goin nowheres.....until it does
nice...too bad don't own it. my calculation based on fri value of $6.99B and deal purchase price of $ 8.44B...sound right?...20% premium