i remember when so called analysts were saying 1500s was a floor for gold . well then india instituted the 80/20 rule and slapped a 10%tax on gold. the trap door was opened and gold fell below 1200
it seems to me one has to be alert and on guard in this market. anything is possible. i have not changed my thinking or my stance, i am a long term gold bull. i do think much higher prices will be seen @some point. right now, the market is oversold and sentiment is @extremes seen @lows.
that doesnt imply the market cant go lower, although the odds are against it right here.
a long time ago , i thought @ some point in the process of fiats being seen for what they are, i thought the dollar would be king for a period. w/japan and the euro as basket cases we are in that time right here right now. how long it lasts is a guess. but when it ends , i think gold will be ready for prime time
china has recently pledged 400billion to india to help build infrastructure. this is significant. imo india is and will be the leader in the gold market. gold is a part of hinduism. india also has refineries and an exchange planned. india, china, and dubai will form the center of the gold market. shanghai market which literally just opened is primarily a physical market
for those who want to hear gatas view on gold market manipulation , chris powell gives his presentation on the larry parks show http://www.gata.org/node/14469
i have my doubts , strong doubts , that this madness lasts until september of 15 , but these are desperate times and that calls for desperate measures.
we are either @or very close to being @ a bottom for gold
dharma
Lots of good stuff you listed amigo. The past few days I have asked myself if anyone, anyone at all is buying or already long and bullish. The answer I seem to come to from reading several forums and commentaries is basically NO ONE. And many are looking for much, much lower prices. Reminds me of 2000/2001, 2008, and last December. A question I ask is who is left to sell? and all the sentiment measurements we use to gauge these things are at major bottom extremes. When seemingly no one is left to sell how low can/will it go? I have a very light 5-10% position, nothing else. Waiting for some near term bullish evidence, nothing yet.
Senor
Perhaps the question to ask is... Who is left to buy the dollar? If the dollar keeps going up then Gold will go down since its priced in US dollars.
Since I have a free trial to Avi Gilburt's site, I thought I would share what he sees with you all...
[img]https://ci5.googleusercontent.com/proxy/c8DEBjR0ktkCqFx96fv3_VT_oMd4ztNBTYdNmrPhShdv7jHZax0waLJgF-1X84zYKXz3mopevGjc2_ASvwl1Ta4bTnXBM90YuYLssbmpG9WmHFo0xGJLJZQvYTRQl0nVhfrbIM5iaY-5290Cb_fFHWdfAVW1tm215xrVXtU=s0-d-e1-ft#http://www.elliottwavetrader.net/images/charts/201409/full-7ae7712a98896e46fe2bee1cc374ec5f8e654db6.jpg[/img]
Edited by Russ, 24 September 2014 - 12:41 PM.