Hi JB, it still a healthy looking 10 year chart. Another assault on $1800 is very possible.
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Hi JB, it still a healthy looking 10 year chart. Another assault on $1800 is very possible.
Hi airedale, let's hope so (from a goldbug's point of view). USA added only 120,000 jobs in the last month, lower than they were hoping, this didn't help the outlook either, yesterday.
I looked at the long-term gold chart too JB, what we've had for the last few months looks very similar to a pattern from 4 years ago. Oil hasn't dropped back a lot either, another reason to be bullish on the gold price.
http://www.smh.com.au/business/after...409-1wl23.html
Despite the headline for this article, the text implies the gold price will hold for a long time yet, and gives several reasons. A gold price cost floor of about US $1450, China steadily buying gold for its reserves, inflation, scarcity of new gold, and other factors.
Hi Skol, I often wonder why you take such an intense interest in a commodity you are not interested in. There is a missionary like zeal in saving others from their own follies like gold and silver.
Don't worry about us, we can make our own decisions.
I won't be losing a moments sleep if you go bankrupt airedale, but I find it endlessly fascinating why people would buy gold in the first place, even bury it in the garden, almost worship it, and strangest of all say it's running out, the biggest fallacy of the lot.
I've got lots in the stockmarket, gold goes down, stockmarket goes up, keeps me on my toes, I like to know what's going on and the psychology of the goldbugs is a wonder to behold.
It's entertaining, great fun, you find my 'missionary like zeal' interesting, I find the goldbug obsession with Bernanke, the Fed, the New World Order and the infinite conspiracy theories intended to defraud them of what's rightfully theirs enthralling.
Never mind airedale, it's always just around the corner, the ultimate meltdown, where everyone else is poor and the gold bugs are rich, hyperinflation, martial law, nuclear war and the gold standard is resurrected. LOL
You don't have to look any further back than the post at 3.09 pm today on this thread.
airedale,
I can tell you one thing for sure, the goldbug psychology has changed completely in the last few months, I think some are sitting on big losses, licking their wounds and wondering how they got to be where they are after promises from all the 'experts' that gold would be megabucks.
Gold might be on its way down a bit in the short term. Longer term, plenty to commend it.
By the way Skol, one truckload of gold valued at $7500, that's less than 5 oz of gold. You'd need 7 million of those (at the same high grade) to supply the Chinese with just 1,000 tonne of gold, which they might be looking for, plus more, to build up their reserves. The miner probably had to move 15x as much material to get to the payload, their real costs were probably $1450 per ounce. Where's gold going to drop to?
http://www.ino.com/blog/2012/04/gold...rther-decline/