Gold pattern pointing up, page-1134

I think AJ has raised very sound argument & has been admonished for it.
We have two very different mind sets at play. One being AJ that will trade gold on perceived market 'value' & trade accordingly, ie. TA & S&D, sentiment etc. Versus goldbugs who see gold as the ultimate form of money & risk insurance against financial turmoil. No one is right or wrong here necessarily, although your entry point can determine that. Obviously selling gold when Skol called a top would have been a huge mistake (sorry couldn't resist), however not selling gold when it went parabolic was also.
Now some may say they don't care they are holding gold for insurance purposes & will never sell there gold.
My response to that would have been you had good insurance, but you failed to file your claim if you hung on.
Now might be a good time to rebuild that insurance, however the proof will be in the pudding, its certainly a better time than three years ago.

As a trader gold is pretty neutral & obviously has been for some time. Much lower & production will be impacted so there is a bit of a free put in that regard imo. Also the likes of the ETFs have lightened considerably & China etc still keep on buying. India is a concern than a lot of gold could eventually come out of hiding, however that could take 20 years as well. China needs to keep on buying for gold to be supported & there is no evidence to date that they will stop anytime soon.

I'm a buyer around $1180 & a big buyer around $1140, in saying that I will always way the sentiment & want is causing gold to be where it is. If its purely speculation, then my buying appetite would increase.
However if there was a more fundamental change then that view may change.

Cheers Daytr