Spotted.Cat,
I'm not a member at Ihub, so I could not access your link.
Short term, anything can happen with the POG. Last week the shorts had some momo and could not wack gold below 390. In Jan/Feb I was convinced that POG was going to test 365-372, but it did not.
I'm looking to add bullion, so if POG goes lower then I'll have an opportunity. Breaking 390 is going to do some technical damage, so I would hope that we just churn in this range for a while.
I really do not have any confidence in my short-term roadmap for gold. I am much more confident that the next 1-5 years are going to be very interesting for gold, and bad for dollars. And unless I sell bullion during the blow-off top (unlikely), I'll probably end up just preserving my current dollar purchasing power. Not very sexy from a traders perspective. Inflation is like fire, and its hard to tell when its burning out, so it difficult to pick a top in gold.
Then again, Alan is confident we don't have any real inflation concern -g-
EDIT: Most interesting will be what the dollar does next week. Anymore strength, and I will hold off on any gold purchases for a while. I think the dollar turns down next week.
TH |
