Well we cracked the $1120 briefly, too bad it couldn't quite hold on the close. That $1125 mark is providing quite a challenge for Gold to pass (as I expected), but we'll probably see a pretty quick move to $1160 once the resistance is broken.
*************************************************** ctindale said: the Fed inflation numbers a pure propaganda based on manipulated figures ***************************************************
I agree ctindale, as are their GDP numbers. But until the majority market realises this (there probably wouldn't be mass realisation until a complete system collapse) I will continue to keep my money in this delusional market. I also agree with your comment re Gold not being an inflation hedge. I was only looking at tonight's CPI figures as a short term driver of the price and what do you know my guess was reasonably accurate, but I do not trade my guesses, I've held most of my positions since August September last year when Gold was around mid to high 900s.
*************************************************** ctindale said: Folks there is a buy gold opp on weakness in the near term, if you love gold so much whats wrong with picking it up when it gets cheaper, gold equities will suffer through the gold pull back, wait for the weakness and back up the truck ***************************************************
Could do, certainly wouldn't rule it out 100%, but I think it's likely that the pullback finished in the drop to $1050. And yes I've picked up a few extra positions in this pullback, I was buying weakness. You've been waiting for this correction since $950 and it's still higher than that. You seem so sure of a larger pullback, time will tell, personally I think we will be seeing new highs early this year...
