Today, the 29th, commodies moved up strongly suggesting the recognition of inflationary pressures are growing in world mkts. The recent weakness in the dollar/euro/JPY are not showing much affect on gold as yet so far as I can tell. Commodies have in the past been an excellent precurser of moves in gold stocks and the metal. My fuzzy logic model is indicating a move in Gold is now 80% probable. I can only guess size of the move, but my short experience with the model suggests 10-15% is possible given recent history. Anyone else looking for a substantial move?
Commody Moves and Gold
Started by
Islander
, Sep 29 2003 10:44 PM
1 reply to this topic
#1
Posted 29 September 2003 - 10:44 PM
#2
Posted 30 September 2003 - 09:38 AM
Howdy islander,
Well, the metals are all going nuts today with the dollar sliding, particularly against the yen. Gold's up 4.40, silver +.08 and platinum is up above 700 again.
I'm still 30% long in the metals with a bent towards silver. Mostly RYPMX, but with holdings in GG, GLG, BGO, DROOY and for silver PAAS, CDE and SIL.
I was planning to reduce if it broke down below 375, but as it turns out, yesterday was a good day and today is looking even better.
best,
rono