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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime
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To: Swami who wrote (56800)9/4/2002 11:06:52 AM
From: Canuck Dave  Read Replies (1) of 62348
 
I've come to the conclusion that predicting the price of gold is a futile exercise.

I've been following gold and silver for nearly 3 years now, and I thought there was no way they could go lower in 2000 or 2001 given the economic fundamentals.

Problem is, precious metals are so entwined in the political process (in fact, it could be said they are part and parcel of it), that governments are willing to have a less than orderly market in order to achieve some short term goals (like getting the Republican Congress re-elected).

Go to some of the gold sites. I bet some of them are predicting an explosive move up come September 11. Then again, they could do NOTHING. I've come to the conclusion you have to respond to, not predict, the price moves.

Just my opinion.

CD
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