POG rallies tend to last 5 to 15 weeks. This is only the third....

First 18 Last

Share
Profile

Follow
meric

1,591 Posts.

42

28/11/14

13:14

Post #: 14372031
Share

Originally posted by sydneyguy ↑

well no one can despute the resent bounce off the low at 1138usd

but it appears now that opec has lost its standing as the price setter and deflation will be evident in the data going forward not hyper inflation

Gold has ignored its concept as a currency as it seemingly has little correlation to the USD index (which was supposed to have collapsed by now)

USd market are on a high and with lower oil, mainstreet should have more discretionary income to buy all those products now that are falling in price, once again thanks to the world crushing OPEC

rates are dropping in USA on the 10 year, low inflation means the fed doesn't really have to move

worldwide collapse, depression, triple dip recessions, massive layoffs, banking collapses are becoming a little spec in the rear view mirror..

what you think,,any reality in sight?, as I said a few month ago,,where is the deep drastic depression predicted since 2008, its starting to look as ridiculous with so many commodities falling.....

Expand

POG rallies tend to last 5 to 15 weeks.

This is only the third.

IMHO There is further strength to this bear market rally yet.

Last year a rally topped at $1428. (8 weeks)
Early this year a rally peaked at $1391. (12 weeks)
Last rally peaked at $1346. (6 weeks)
This time IMO it'll top at least $1250, up to $1300.

One possible scenario that might happen: Currency wars between all the central banks causes all of them to partially switch reserves from foreign currencies to gold.

Last edited by meric: 28/11/14
1 Upvote

0 Great analysis

Reply