Monday, January 21, 2008

Gold falling falling

Gold falls as U.S. measures fail to spark buying

Dollar is going up and gold speculators are getting out. About time IMHO. I read somewhere that selling gold now is like cancelling your insurance when the fire starts. Let the speculators get out and leave gold to people like me who want to buy some insurance to this global meltdown.

Posted by happyrenterz @ 11:54 AM (1014 views)
Please complete the required fields.



5 thoughts on “Gold falling falling

  • There is a link to a story on the same page which says gold hit a record high. Maybe people are reading too much into short term price movements?

    Reply
    Please complete the required fields.



  • Maybe they are having to sell to make margin call? (on other things that aren’t doing so well .. contagion?)

    Reply
    Please complete the required fields.



  • A close below 872 (Spot) breaks the 20DMA. That creates a bit more momentum to the downside. If that happens more selling as stops get run then a recovery would “look” right although i wouldnt be betting on Gold – long or short at the moment. I do favour the downside to about 820 in the relatively short term.

    Reply
    Please complete the required fields.



  • Thanks Techieman that is interesting because we are below 872 at the moment. Bit of chart analysis here, essentially bullish conclusion.

    Reply
    Please complete the required fields.



  • no probs @hr . He sort of sees it going either way, and then a march up to new highs. The intersting part of the chart is that (and ive been scratching my head here) there are 2 triangle “4th” waves of different degree. So I say that we might well be in or have had the 5th. This is a problem because there was no spike – which is what i would have expected. I know this doesnt tie in with the bullish sentiment and i know this opposes S2R1 – and I have trouble too because i also have a Core holding. It would make sense to have a fall though to the neckline. Im actually disappointed because i find myself standing on the fench a bit. However the move down does go against what people were previously saying that its an escape from Stock Market woes. If thats the case (i.e. the falls in the markets are not a support), then its basically just being perceived as an inverse play on the dollar. hmmm

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>