I cant believe gold seems to be running in tandem with the market.
Thought gold would have been going up whilst markets were falling, yet we see convergence moves at present rather than what I feel should be an expected divergence.
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I cant believe gold seems to be running in tandem with the market.
Thought gold would have been going up whilst markets were falling, yet we see convergence moves at present rather than what I feel should be an expected divergence.
Yes, it certainly is. Link . That's a lot of pressure on gold production.
Drillfix- USD is going up, but it usually stabilises, and gold will go up after that.
A quick check around and I've found goldbugs talking about exposure to the dreaded, hated, defiled, despised, vilified, detested, abhorred, loathed USD.
Can anyone explain this rather odd behaviour or are goldbugs finally waking up to the fact that hyperinflation and the USd 'turning to confetti', as Jim Rogers calls it is all an old wives tale.
Whatcha reckon JB?
Maybe these guys are goldbug 'traitors', and scabs, cracking under the pressure and tacitly admitting there's gold in Fort Knox after all. LOL
The USD is rising because it doesn't look as crappy (for now) as most other currencies, would be my view.
http://www.dailyfx.com/forex/fundame...l_it_Last.html
So while attention is on the European region, the USD$ gold price might drift back a bit. But the buying pressure on any dips remains. If China is intent on backing its own reserves with gold, this could go on for many years yet. Note worldwide gold production is only slowly ramping up, another process that takes years.
Global liquidity drying up? Banks not trusting each other.
Hyperinflation is appearing less likely,BUT sovereign debt defaults are here and now.
Skol is the USA too big to fail?
The main premise of basis of the fiat monetry system is that countries CANNOT go bankrupt well apparently they can and are going that way .
Will the US ?who knows in the meantime where to put your hardearned if currencies arent safe(sovereign debt ,bonds)?We are all in unchartered waters ATM.Lets face it no one really knows what or how this is going to end(my own opinion is rather pessimistic) so a bit of gold and silver as part of a greater diverse stratedgy still seems a sound thing to do.
Apparently gold, silver and bonds are 'safe'.I won't be putting my dollars anywhere near these 3, they're all at multi-year highs and ready for a fall while shares are cheap. If Warren Buffett thinks it's good enough to throw $24b at shares it's more than likely a good act to follow.
Max K---Gold wars LOL
http://www.youtube.com/watch?v=rAPM7syIcts
Maybe Buffett has to buy on really bad days for two reasons. It slows up the collapse, which will hold his other equities up a bit, and he also gets the volume he must need when buying a substantial amount. Remember Buffett bought a lot of GEC last time, and it fell further later. I think he negotiated a buy-in special for down the track.
The latest news in Europe is not good. Dark clouds are gathering.
So assuming a massive meltdown in Europe doesn't happen, which it won't, what will happen to the POG then?