Nistrams,What really makes you think Gold is going to fall to...

Nistrams,

What really makes you think Gold is going to fall to $750...? Even over the next few years let alone 1 night?

Everyone needs to choose carefully what to read and who to believe on the WWW. There's a couple of fantastic commentators I follow that have been spot on with Gold for a long time...Peter Schiff and Peter Grandich.

As they both say, the factors that have contributed to Gold increasing from $250 up to current levels are still very much in play and are not about to change anytime soon. Ignoring all the conspiracy info posted on this thread and you can still quite clearly see that Gold is in a bull market and that's not about to change overnight.

FYI - Here are Peter Grandich's 3 reasons why Gold will continue to trade at higher levels (I highly recommend his blog - http://www.grandich.com/):

1. Central Banks, who not too long ago only went one way on gold: sell, have become net buyers of gold. I cant count the number of times just the threat of Central Bank sales or the actual occurrence would tank gold. Its no coincidence that the first lessening of sales through the Washington Agreement and then actual net buying has been one of the key bullish factors.

2. No industry in the whole world did more to cut off its nose to spite its face than the mining industry when it aggressively sold forward its production. Hedging was such en vogue that Barrick Gold (American Barrick back then) became the darling of producers even though by selling most if not all your future production forward was essentially saying you didnt believe (or want) a much higher gold price.

3. Uncle Sam is no longer the worlds favorite uncle and hence his paper is no longer greatly favored. Since it still makes up about 68% of the worlds reserve currency, many key holders of this bulging supply of paper have sought out alternatives.

I also notice you havent had alot to say on Gold since you're last quality TA post titled 'ouch'...


Cheers

SW