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wombat53

7,702 Posts.

11

05/05/16

08:34

Post #: 17681088
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Originally posted by Nanood ↑

If course it's profit taking. Isn't that the point. Like any rally the recent gold high, while having the bugs salivating that the world was about to end and jumping into gold stocks, the real money was/is being made in the last couple of days with a very nice sell off. No doubt sometime soon a bunch of bad looking data will make it into the headlines and while those filling there accounts with gold profits right now will already have bought into the dip and be ready to ride the next wave. Rinse and repeat. It's no wonder people are confused, they are all looking at a bunch of data and opinions that tell you no more than what HAS happened and try to make that into what WILL happen. The most important thing to look at will always be what IS happening. Every website I look at has a bunch of opinions that change daily, often from the same people with not a mention of where they got it wrong, but never miss an opportunity to point out where they got it right. The same thing happens right here on the gold thread !

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"If course it's profit taking. Isn't that the point.

I think I said that, no?

"Having said all that, it's true gold stocks and indices have run up fast and a correction may well be in order, and profits are there to be taken (and why not?)""
"

Last edited by wombat53: 05/05/16
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0 Great analysis

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