I've explained that countless times. Once again for you. I trade gold on 12month cycles Oct-Sept. I aim to earn $15k, which is a tiny part of overall 12 month trading strategy. I was ahead of gold schedule through going long and being fortunate to time the cycle fairly well as it declined from its top before back in at 1280. I exited again at what I though would be the top and placed a short that if paid off would've earn a further 10k, if it failed I would exit with a $5k profit - so my short had a $25k - $5k risk profile. It failed and I exited at 1464 with my $4800. Now no interest in gold until my next cycle which will begin in Oct. in Oct I may start off long or short gold depending on a number of factors at that time.
I can't recall rubbishing any posters on price predictions. I have rubbished gold sellers predicting 10k gold price.
As a starting point I'm long gold as I think it will slowly grind upwards just ahead of inflation, indefinitely. To keep exploration and mining viable. However, if I feel gold has got ahead of itself then I will short (for a short time period).
The above is just relating to my 12 month trading cycle. My long term portfolio has a taotally different game plan, it doesn't include gold.
