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dr ray

Liquidate Gold Holdings Warning

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Front page MSM article advising people to sell their gold holdings.

The article has not even been proof read and talks about gold buying frenzy with gold reaching 29m per oz. I think he means 29m trades.

Then it becomes clear that he is talking about futures contracts and his advice is based on the premise that gold price is and will be going up and will therefore come down.

Shameless, cretinous attempt at market manipulation.

Ambrose has obviously not filled his boots yet and is hoping to force a dip

$29m/oz is optimistic unless we go Zimbabwe.

Edited by dr ray

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29 million ounces long - for delivery at the end of the month.

investors (speculators) must either take delivery (which rarely happens), roll over contracts to the next month (i.e. finance more borrowing), or close the position by selling.

since the stock market seems to have some legs, the hot money will likely flow out of gold futures & into equities - i.e. gold price will go down.

however if the stock markets are jittery next week, then that wont happen.. :ph34r:

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He's only reporting a view that a correction is imminent. Sounds sensible.

Breaking the all time high would change things ... somewhat!

There are a few people predicting that POG will go down because it has gone up.

No sh!t Sherlock. If only predicting the future was that simple.

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You sound clueless.

If you bother to read the article ( I take it you can read even if you can't write a reasoned response) you will see that the argument for the POG to be heading for a fall is based on the fact that it has gone up.

This is like predicting sea level rise from sitting on a beach and watching the waves. The waves come in and they go out. It tells you nothing.

It would be worth reporting when waves only come in.

So tell us how clued up you are, Einstein

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When the MSM tell "us" that gold is going up, it often goes down. Now they tell "us" that its going down. Gold spent the last 18 months consolidating. Some think that gold is going to $2000 or even $5000 based on the current issues. I dont know how it will ever get there if it looks oversold and in need of consolidation after every $50 increase!

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