Pharaoh
Brigadier General
- Messages
- 20,309
The advantage of physical gold is that you can deposit it at your local branch of Mattress Bank.
The drawback is that if you picked up some yesterday to take advantage of that BIG price drop on Friday, you'll be wishing you had waited 24 hours. Oh wait. I did exactly that. Naturally, the Curse of the Pharaoh has struck again.
The drawback is that if you picked up some yesterday to take advantage of that BIG price drop on Friday, you'll be wishing you had waited 24 hours. Oh wait. I did exactly that. Naturally, the Curse of the Pharaoh has struck again.
perryfx
Private, 1st Class
- Messages
- 103
Need to wait for a clear signal. Never seen a drop like this one.
Pharaoh
Brigadier General
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- 20,309
That massive sell off obviously involved a certain amount of market manipulation by some very big whales in the trading pond.
If the whales are satisfied, I expect the slow movement towards previous levels to continue. On the other hand, if that was just the opening course of their meal, this pullback could just be them waiting for more small investors to get in and place easily breached stops before another shove downward. Considering how many people are nervous after what happened, it wouldn't take too big of a push to trigger a wave of panic selling.
If the whales are satisfied, I expect the slow movement towards previous levels to continue. On the other hand, if that was just the opening course of their meal, this pullback could just be them waiting for more small investors to get in and place easily breached stops before another shove downward. Considering how many people are nervous after what happened, it wouldn't take too big of a push to trigger a wave of panic selling.
RahmanSL
Major
- Messages
- 2,938
My hands for trading gold are solidly nailed down!......while my other better half has been busy buying some jewelry in these "bargain" prices, all fearful that the commodity will shoot up soon.
I suspect that's the main reason for the metal rises these past weeks....but once the better smelling half of the world's population have finished with their frantic buying, gold will drop like a brick once more to scare the s@#t out of speculative traders before taking off like a rocket.
I suspect that's the main reason for the metal rises these past weeks....but once the better smelling half of the world's population have finished with their frantic buying, gold will drop like a brick once more to scare the s@#t out of speculative traders before taking off like a rocket.
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quicksilver
Private, 1st Class
- Messages
- 78
Comms. are busy buying Gold. Look to the COT. The index is reading at 105, extreme.
Pharaoh
Brigadier General
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- 20,309
Although that encourages my inner bullish viewpoint, knowing that some group can short more than a year's worth of production just to make the price plunge has me sitting out until I see the market get past the easy-to-panic phase.
Of course, if the do make it drop like a brick again, I'll be happy to buy some more on the way down.
Of course, if the do make it drop like a brick again, I'll be happy to buy some more on the way down.
RahmanSL
Major
- Messages
- 2,938
For those interested, my better smelling half is done with her purchases of gold at "bargained" prices.
So, buy if you must in anticipation of a shortage of gold in the open market....and that shiny death mask of the ancient-one looks very tempting indeed
....Wonder what's it worth in e-bay!
So, buy if you must in anticipation of a shortage of gold in the open market....and that shiny death mask of the ancient-one looks very tempting indeed
....Wonder what's it worth in e-bay!quicksilver
Private, 1st Class
- Messages
- 78
Did you guys see the video documentary made by Ann Marie Mac Donald? You can youtube it. Its called "The secret world of gold" its quite interesting to watch.
In regards to going Long on Gold, i've been in the trade since the 18th, so i'm breakeven + a few points. There is still a downside risk to $1300. So going long now can be risky.
In regards to going Long on Gold, i've been in the trade since the 18th, so i'm breakeven + a few points. There is still a downside risk to $1300. So going long now can be risky.
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