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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 665.67-0.9%4:00 PM EST
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To: j.o. who wrote (22828)8/12/1999 10:50:00 AM
From: Fun-da-Mental#1  Read Replies (1) of 99985
 
I think we shouldn't get carried away with gold, because:

1) there have already been 3 previous price spikes this year that looked similar to this one and came to nothing

2) during the financial crisis last fall the price of gold barely budged

3) the price of gold is arbitrary, like the price of diamonds, not based on use value

On the other hand there's no reason it couldn't go back to $300, but it's very speculative IMO.

Fun-da-Mental
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