re: 504.30 over 510 tonight? /stolwyk
Wouldn't waste my time on these guys as they have no idea! The people manipulating certain markets are dependant on the sort of mindset displayed by certain people on this forum and the news letter writers! Triple tops are rare as rocking horse sh#t for the one reason only! On the third attempt, the high is normally breached! I fully expect the HUI to smash through 258 if not next week then the week after. $375 gold is utterly ridiculous forecast and displays the mentallity that the west determins the demand and ultimate price. A rude awakening awaits such prophecies. There are hundreds of trillions of dollars sloshing around looking for a hot commodities or market. The precious metal market only needs 0.00001% of this money to start orbiting the earth! the doomsayers are predicting a large fall, because that's how they make their money! When proven wrong, there's normally a reason along the lines of a rare planetary alignment or such. Pretcher is still a gold bear! The price of gold today in 1980 dollars is around $275 after adjusting for inflation! a $10 move on high volume is not a market topping event! The push by Mexico and South American countries to re-instigate a precious metal currency will keep the spot light on gold and silver. Gold has just hit a 23 year high! Why would anyone sell now! there is no overhead resistance! Reserve banks are looking to be net buyers of gold, thus selling pressure is falling. Investment demand is rising and mid production is falling! The shorts will be running for cover big time! As for the US$, expectations is that this rally will petre out by the end of quarter 1 2006 and commence the next leg of it's bear market! I'm in full agreeance!
