No. of Recommendations: 4
with a weekly chart like that it takes some steel to make a call like that.....but it will play out and one of us wont be happy.....

I don't see either of us being unhappy at whatever the outcome. You have no skin in the game by your own position so why would you be unhappy if gold ran to some astronomical number? My position is up so far in dollar terms, that gold would have to go below $700/oz for me to lose any money and I'd be out before that would happen.

Don't mistake the fact that I see only one outcome for the fiat regime as one of the diehard grasping my bullion until it is pried from my cold, dead hands. It is protection for me, like bonds used to be before the central bankers started buying bonds to ensure low interest rates.

With the major central bankers either committed to printing currency as fast as possible or in buying gold for the day when the fiats collapse, the future for the shiny metal has never been brighter. In fact, what appears to be happening is a huge wealth transfer from the OECD countries to the ASEAN and BRIC countries and one measuring stick of that transfer is the growing stockpiles of gold in the latter.

Since you like the weekly view, I took the chart out to the beginning of this bull and kept the periods weekly. The correction that just ended didn't even beggin to approach the severity of 2008-2009. Corrections are healthy in the stronger bull markets. It is when things get parabolic that one has to become a bit more alert.$GOLD&p=W&yr=12&...

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.