LGL 0.00% $1.45 lynch group holdings limited

Mates, in time of troubles gold should in theory go up more and...

  1. 2,498 Posts.
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    Mates, in time of troubles gold should in theory go up more and more so when US dollar goes down but still some pressure will come from funds and traders that have to find cash to cover margin call.
    I am personally bullish on gold and I believe it will break $1000 again in time, with so much problems and no confidence in the US economy the US dollar will come under more pressure and the lower US dollar goes the higher gold will go.
    You can see in the past when oil goes up gold goes up and when the oil comes down the gold comes down but the past two days oil came down gold went up, so it tells me there were some buying into gold for protection and the more people get scared the more they will look for protection either they hold cash or US treasury or some will buy gold, but if US gets into big trouble people will lose their faith in the US so they have to hold cash but not US dollar or they will get into GOLD.
    WE will see which force is bigger the buyers or sellers,as traders will decide the next move in GOLD and all depends on economic or political situations which will drive their sentiment.
    Cheers
 
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