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AlbertM

266 Posts.

15/11/16

12:00

Post #: 20625170
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Originally posted by lawrencep93 ↑

I was told someone sold off 1 million paper claims to gold hence the drop in gold price, which would have also triggered some stop losses and so on. Bit of tree shaking going on, I don't see the price of gold exploding but I don't think it will drop further than $1200 looking at the chart over the past 6 or so months, everytime it has dropped down to low 1200 it has bounced back up higher till hit gets close or breaks 1300 then will drop back with a running average around $1250 range with $1200 being the floor.

All speculative and based on past, if we have any events to scare investors we will shoot past $1300, so we don't know what the future holds, DYOR I am speculating, please also feel free to tell me why I am wrong or what your predictions are. My position is gold will increase in value, or even at current prices I feel SAR will increase in value based on their output and costs look promising compared to other miners.

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Everyone in these forums is confused and do not know which way to go....
Im of the opinion that after a 30% drop we will get a 15-20% relief rally, and very soon. The fundamentals are unimportant right now what is happening is all sentiment based.
I also believe that the fed will raise rates so I'll be out before the 12th December.
Will buy back again soon after and hang on tight for the real rally - will ride it with blue chips such as SAR.
That's my play.... DYOR of course, just sharing my thoughts.

SAR Price at posting: $1.10 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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