GOLD 0.51% $1,391.7 gold futures

2013 was the worst year for gold in decades, and the 'very...

  1. 32,843 Posts.
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    2013 was the worst year for gold in decades, and the 'very clever chinese' bought 1500 tonnes of it? How dumb is that?

    About as dumb as the chinese 'aunties' becoming obsessed with gold and losing their shirts. Even the chinese govt rubbished them as being sheep, having no idea about investment and getting their investment ideas from friends and relatives.
    I see the great Dow meltdown endlessly predicted here has failed to materialise, once again, DJIA up 230.
    I've done this several times before, but once again for the newbies here, all of my old protagonists have long since disappeared licking their wounds.

    The reasons gold is a lousy bet:
    __________________________

    History is on my side, after a crash it takes years to recover
    USD, on the way up and will continue.
    Gold indexes are on their lows and going lower, HUI, GDX,GDXJ.
    GLD inventory evaporating.
    Gold sentiment is about as bad as it gets, (except on Zerohedge)
    US stockmarkets will continue improving and probably finish the year higher.
    Property worldwide is on a roll, many cities report double digit increases.
    Geopolitical events predicted to cause meltdowns and WW3 never happen. (Ukraine, Cyprus, Greece etc)
    US interest rates will rise, almost a death warrant for gold sentiment.
    Commodities are in the doldrums anyway.
    Chinese and Indian demand is way down this year, they finally woken up.
    The US economy will continue improving.

    There's a few reasons off the top of my head and if I had the time I'm sure I could think of double that number.
    Last edited by Skol: 24/10/14
 
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