Thanks for posting your predictions. In your OP, you mentioned 1250 as a key moment. It looks like for now closed in on 1250 and bounced up a bit from there. What made you add your last post of falling to the $1220 area?
I thought there might be some stop-loss hunting when 1250 was tested. It just didn't happen. However, if price is going to revisit 1250 area; then my 1220 prediction might come true eventually. According to elliot wave theory, we have finished wave a and started wave b; wave c could hit 1220.
More evidence supports gold price pullback to 1225 area.
Last weekly gold futures report showed Commercial traders piled up their short position AGAIN. Now their short/long ratio is close to 3:1; this usually signals a midterm top for gold price. Recent data also reported that short interest on gold has increased significantly in the past few days.
I am mainly a vintage silver bar guy, but watched this video last night and wow - gold is pretty interesting. This is probably one of the best youtube videos I have ever watched. Perhaps I will pick up some if it drops to the levels you mentioned.
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*** Edited by Staff to add YouTube tags. Please use them in the future. We prefer embedded video. ***
From daily chart of gold price, it looks very bearish.
IMHO, gold will stay range bound between 1225 and 1245 for a long while; and then crash below 1200. That probably would be in March or April. I would definitely buy when that happens.
Lots of online dealers are offering special prices now, that usually means lower price is ahead.
@Boliver,MontanaCMR only asks leon1998 where do u see silver,not know. Any how I will tell you where I see silver,I see pounds and pounds of it in front of me High price action or Low price action.
Most likely Silver will be slowly moving up back out of 2006-07 price action. The only people that will be Millionaires from silver are traders and dealers that buy tons of Silver in the present or future. A ton is 2000 pounds so get stacking,hope that helped u.
I am interested in the 10 to 20 year price of silver and certainly realize its just speculation. There is a group that maintains we are likely going to see long term demand far exceed supply in the future. However, based on the past 100 years, this certainly wouldn't be history repeating itself.
If I were to guess, I would base my guess on historical increases which average about 4% per year.
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Posted 01/31/2015 09:03 am
