GOLD 0.51% $1,391.7 gold futures

gold, page-164

  1. 11,201 Posts.
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    I think gold bounced this year and took off hard in early 2016 simply because the equity markets got smashed- it became a safe haven as the calls for recession in Jan from major houses were loud and seemingly confirmed by markets going down hard , I think the dow had 31 or 33 days down in a row

    As aud fell from 75 is to touch under 70 calls for 60 became louder, people then looked at gold usd and forecasts of recession and have piled into domestic goldies

    Gold then retreated imp as markets recovered but has now had a focus that rates won't rise 4 times as predicted at beginning of year which pulled it from 1200 late last year

    Now gold trade imp is focused on negative rates in eurolamd and Japan , and believes China gold fix will send it soaring- it's also been supported by the flood of ppl buying usd debt instead of leaving cash at negative rates- us ten year has fallen from 2 -1.8( ish) which is supportive

    All that said, seems to me to be very overdone in the producer space and overdone in the bearish calls on markets which seem to have got louder and louder as the dow and other markets have lifted off their lows in Jan den to be back near yearly highs

    This cycle of hype has happened before

    It's never ceases to amazing me the number of people calling " collapse " coming the
    Minute a market falls one point, it never seems to stop

    people were also short gold and suggest it's been a bit of a bear market rally , this happens, doesn't mean the world is ending- I don't need confirmation from debt clocks, Fort Knox stories, dreams of China buying up all gold---- these ideas shave been promoted when some domestic stocks were way higher, way lower

    im still not interested in buying it, but that's me, I'm just waiting to short some of these domestic miners once the results come in and the hype fades and hot money chasing all year look for the door---- and it will happen

    I've had a few boring months waiting---- but the threads have often brought a tear to my eyes
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