Given the move today in equities, one would have guessed that gold might have more attractive. It is stuck at 120.16, pulled back for a little higher.
Sort of out of gas with all the motivation in the world to move up as a safe haven play, or maybe they don't believe anymore.
It seems that we might be topping for a pull back in 113.
Best. Islander
Disappointed in GLD
Started by
Islander
, Aug 24 2010 02:36 PM
3 replies to this topic
#2
Lysis
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Posted 24 August 2010 - 03:32 PM
Given the move today in equities, one would have guessed that gold might have more attractive. It is stuck at 120.16, pulled back for a little higher.
Sort of out of gas with all the motivation in the world to move up as a safe haven play, or maybe they don't believe anymore.
It seems that we might be topping for a pull back in 113.
Best. Islander
The fact that it didn't sell off with everything else should be considered a positive.
#3
Islander
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Posted 24 August 2010 - 03:50 PM
I am saying that GLD should have been bought, not ignored by investors.
Do you agree that holding position when investors are buying treasuries is not consistent behavior for frighten investors.
I am concerned that gold in general is being ignored.
Best, Islander
#4
Lysis
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- Traders-Talk User
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Posted 24 August 2010 - 08:08 PM
I am saying that GLD should have been bought, not ignored by investors.
Do you agree that holding position when investors are buying treasuries is not consistent behavior for frighten investors.
I am concerned that gold in general is being ignored.
Best, Islander
I remember gold selling off with everything else as the funds climbed over each other to buy bonds in 2008. As I said, I'm happy that it didn't sell off and bounced solidly off of its 50 day SMA today.
