Gold Is Making A Nice Comeback This Morning

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Author	Replies: 5 / Views: 1,104
hockingzig Pillar of the Community United States 1450 Posts	Posted 11/15/2011 10:36 am ...after a pretty serious beatdown overnight(not a huge drop but double-digits). The steady rise this morning is a shift from patterns the last few days. Is this the beginning of an upside breakout? Do you guys think we will finally break through $1800 by weeks end? Thoughts,comments,speculations? Report this Post to the Staff

biggfredd Rest in Peace United States 9104 Posts	Posted 11/15/2011 4:48 pm I try not to think. Gives me a hegegg. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 11/15/2011 5:20 pm I will be surprised if the $1800 dollar Mendoza line is not breached this week.... Kinda hanging around $1781 this afternoon..... Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 11/15/2011 6:33 pm If nothing else, gold seems to be showing considerable resilience. Like a beach ball pushed under water, it tends not to stay there for very long before popping right back up. Oil is showing considerable strength as well. For the moment, the news out of Europe seems muted. They have new PMs in both Greece and Italy but it could be a while before anything newsworthy comes of their arrival. That leads me to think that gold will be in a $1760-1790 trading range for a while... maybe a week or two. After that, we could well be off the races again. Report this Post to the Staff
tripncoins Pillar of the Community United States 648 Posts	Posted 11/19/2011 11:13 am I think it will settle in the high 1600's before going up again. When Europe gets some sort of grip on its fiat issues Gold should settle. But let's not forget the media/internet will find some other world problem to bring up to remind or instill some sort of investment fear. Recent things that come to mind are the US super committee's deadline(s) / recent US Sanctions on Iran / the 15+ trillion dollar problem etc. And that's just America. There is so much more.. Let's start adding other countries fiat/economic/corrupted problems and Gold (to me at least) will simply go up. Gold has no debt. We do. Edited by tripncoins 11/19/2011 11:14 am Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 11/19/2011 7:52 pm Don't forget, Trip, we have heard the word from On High and that is... "But gold <gasp> isn't backed by anything"! I agree with your comments regarding the media. If Europe settles down and doesn't seem "newsworthy", I am sure that the US media will then "discover" that there are problems elsewhere. Whether or not they actually have the freedom to find them here is another question. :-/ Report this Post to the Staff
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