$GOLD - one of my favorite charts at the
moment, currently gold after today's rally is 28.2% above the 200
day MA, the record was 29% back in 2006.
That upper trendline and juicy 2000 round number looks like a
target, then it may need a decent 300 - 500 point correction; would
would cause that? An oversold rally in the general market and
pullback in Bonds.
Gold % above the 200 day MA
Posted by matt on 22nd of Aug 2011 at 03:53 pm
$GOLD - one of my favorite charts at the moment, currently gold after today's rally is 28.2% above the 200 day MA, the record was 29% back in 2006.
That upper trendline and juicy 2000 round number looks like a target, then it may need a decent 300 - 500 point correction; would would cause that? An oversold rally in the general market and pullback in Bonds.
Matt, Do you agree with
Posted by mrjasongill on 22nd of Aug 2011 at 11:56 pm
Matt, Do you agree with the numbers published by ShadowStats? See photo attached.
Yes that looks about right.
Posted by matt on 23rd of Aug 2011 at 12:42 am
Yes that looks about right. We all know that with inflation taken into context, gold has not even gotten back to its 1980 highs.
Don't forget the potential for
Posted by oops1e on 22nd of Aug 2011 at 08:44 pm
Don't forget the potential for CME margin hikes
they will come, it's just
Posted by 8899 on 22nd of Aug 2011 at 08:49 pm
they will come, it's just a question of when and of how much???...the bigger the better
would be a gift if
Posted by oops1e on 22nd of Aug 2011 at 09:01 pm
would be a gift if they were as effective as they were in knocking down silver earlier this year!
Gold might reverse, but it
Posted by ravd on 22nd of Aug 2011 at 05:26 pm
Gold might reverse, but it has already risen $400 in 2 months....It might just give that back for the pull back and nothing more than that.