SunTrader

"Good :haha: analysis of gold" naturally from one Permabull to another, what else!! BTW link takes your to terms and conditions - not the "good" analysis.

Everyone is entitled to their opinion but a valid reason why you think what you think ... would be helpful

Money (of any kind) is one thing that has never been stable.

Again and again ... till wave 4 ends. Then look out momma.

Except open interest dropped a pretty good chunk yesterday - and I believe as well today, but won't know for sure till tomorrow.

Today I am a bit like Inspector Columbo - ahhh just one last thing much earlier today in Shanghai Gold traded down -2.04%

A way to see the Gold / Silver interplay is with a ratio chart. In the past, over the long term, as the ratio goes higher, Gold goes lower (although it is not quite directly apparent over the short term):

China is bearish for both Gold and Silver. Look at their stock market bubble imploding (SSE down another 6% today). Margin calls in equities could get them selling some of their gold to raise funds. But mainly slowing economy there means less need for Silver. And as I have say repeatedly industrial need for Silver drives the price ... as well very often the price of Gold.

Meanwhile good old Silver broke to lows not seen since 2010 or before the great bull market!!!!!!!!!!!!!!!!!!!!!! Gasp! I've been saying for a while that Silver has been leading Gold. But maybe I might the attention of those "investors" by saying it has been the Euro contagion and slowing, slowing Chinese economy leading Silver demand down, down, down. As well as the price thereof and price of Gold and ... oh fughtebouit.

Sure hope nobody acted on all that "good" investment advice thrown around lately. Oh wait I forgot it is going lower which means sale prices ding, ding. ding - making it an even better investment choice. Well unless it doesn't stop going lower ... and lower. About the point investors sell it will stop. And a bottom is found. Happens every time.

I guess your "calculation" doesn't look at the fact price is only $17 higher than where it opened the year - 5 months ago !!!!!!!!!!!!!! And also closed near the lows for the week.

Now I have to ask - WHY do you say that?

In the midst of another ABC correction to the overall downtrend. Targets for wave 3 and wave 5 of wave C, Possible retracements for wave 4:

You said: "Corporations who control Fed, most likely control most of the gold reserves anyway and could allow USD to fall faster than we expect"

So you like to have it both ways. If gold goes up - it is because the corporations want it to. If gold goes down - see above. I will continue to just trade price - which ever way it goes.

The other way around. The dollar determines the value of Gold and most every other major tradable market in the world. Don't fight the fed ... until that no longer applies. The fed moves (some say controls) the markets. What they say and what zdo says is all that matters.

I believe in Austrian School of Economics - which also factors in supply and demand. And there is plenty of demand for U.S. dollars through out the world currently and expected in the near future. When that changes the price of Gold might change - from continuing to go down, down, down. Down to $975 - $890 range. :haha:

Got a 1 day reprieve. Thurs should be it.

Tuesday should be the end of current correction to the bear trend and resume making new multi monthly and even multi year lows after taking out 1132.

Should said ending, at most, 1180. But its been so weak lately it only made it to 1170. :doh:

Came close to daily S3 level and more than 100% of yesterday's range so a "oversold" bounce was expected. Correction now underway and probably ending around 1180 area.

Opps, I've fallen and I can't get up - above $1200

You're desperate to understand. But no closer than when you started this.

Desperate are those searching for why when the chart tells why/when/how.

Not in their banks though. But the Greeks could buy all the gold that they can hoard. Still won't help this this :puke: from happening. IMO $950 level is still calling.