what's happening to the gold market ?, page-3

thanks dub,

interesting - most of them are not bullish for the short/medium term.

I feel quite the opposite - this last week or so has been a solid washout ------------- washouts like this are more often than not coincident with bottoms (or tops if the reverse).

If you look at a ten year or 8 year chart - this last week could well be the cumulation of our consolidation down from 1900 -----------

to me it feels like it and combine that with the physical shortages and the bs paper market (eg. trading a years supply in one day etc.)

add in a complete inability for the USA to pay off it's debt and basically it will be bankrupt if interest rates head north ---------- a huge risk for the states.
Add in Europe - who really are stuffed, no matter what sort of drugs the French PM or Italians are on ----------

Add in that China is basically inhaling ANY gold it can lay it's hands on and that the Indian govt. is trying dreadfully hard to stop it's people buying gold --------- and failing.

then I get a far more strong positive feeling for Ag and Au

how in the name of god, can gold/silver take a swan dive from here?

Just who would sell at those lower prices?

We bloody well know who will buy ---------- first in the line would be China - followed by a heap of other central banks ----------- all lined up to get the 'real' thing.

Even the states - those who call it a relic - but who have just apparently misplaced - no, not misplaced ----- sorry, it's just inconvenient to give back German gold to Germany - and French gold and we can't possibly find the time to show England it's gold - we are just so busy ---------

too many stories, too much supply problems, too much debt, not enough business activity ------------

I cannot see these resources being under pressure for another year or two ------------ more likely another week or two.

And that's if we haven't passed the point already - which I suspect we have.

have a great day all

Pinto