Wealthcre8or posted:"I've been thinking about this and decided...

Wealthcre8or posted:

"I've been thinking about this and decided to do a cmparison of the XJO & gold over the past 10 years using a daily line chart. ... What became blatantly obvious to me when I did this comparison was just how much gold appears to have got ahead of itself..."

My reply: This is exactly why so much charting is so just nonsense imo. You can "prove" just about anything at times with a chart. Why not compare the XJO at 500 with gold at US$800 in 1980? Gives a completely different picture then - heh?????

Wealthcre8or posted:

"On this forum there's been no shortage of talk regarding price manipulation. Manipulation, looks to me that the manipulation of the price has been in the opposite direction as espoused by many on this forum?"

My reply: You can contradict all the detailed investigative work and analysis provided by GATA in one sentence based on the poor performance of the XJO and without any reference to anything GATA has provided. If you want to believe that go ahead and believe it. You won't convert me.

By the way, like a typical paper bug you seem to have a view that the US dollar is a constant. That when it comes to pricing anything in US dollars one US dollar always maintains its purchasing power as one US dollar. That increasing the supply of US dollars out of this world doesn't increase the prices of everything that is priced in US dollars as the US dollar through dollar inflation losing its purchasing power as it is being devalued into nothing.

Wealthcre8or posted:

Obviously time will tell as it always does, however I for one am certainly not convinced and would not be at all surprised to see the POG retreating to around $700-$750 long before it goes to $20K

My reply here:

Got to laugh here. On what rational basis, with trillions of dollars being printed and a new round of quantitative easing starting combined with massive demand for physical gold from China etc. is gold going to collapse to US$700? No evidence provided, just as you provided no evidence for gold going to US$20k.

Now how many traders and "expert" chartists are still waiting for gold to go to US$850 before buying?