Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Zardoz who wrote (37584)	7/22/1999 8:33:00 PM
From: Rarebird	Read Replies (1) of 116778

Hutch, I'm surprised at you, especially you. A rising gold price in any currency is the same as the objectively falling value of that currency. The dollar index broke below its 50 day moving average this week while you thought it would rise to 120. The dollar, IMO, will retest its lows from last fall and might very well break below that level too. Who is selling the dollar here? As for the XAU, sellers have been unable to take the XAU below 57.50, even though the POG has broken down after the BOE announcement to sell its gold reserves. I want to tell you a secret: the XAU has run out of sellers and the substantial premium it is selling above the POG is indicating a Bull Market in Gold is on the short term horizon. Who is smarter? The BOE or the Investors who are holding the stocks in the XAU? PS. This past Option expiration may very have been the second to the last trading day before a major rally ensued on the XAU and POG.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next