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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (46165)2/9/2006 5:03:41 PM
From: regli  Read Replies (6) of 116555
 
I don't disagree. However, I think that gold's fundamentals are shifting into a very different direction than commodities in general. With CBs selling less gold if any at this point, the gold market is getting tight. Also note that the Indians haven't really bought since before Deepavali. There is tremendous latent demand. I think I recently posted an article here where a dealer in Madras said the they now are looking to buy on any dip to $550. Note that they stopped buying around $450-$460. I called the top at $470 with my gold futures and never found my way on the train again.

I believe that the gold market is increasingly driven by the physical instead of largely by the futures. The quick turnaround is just as much a warning to investors that it is difficult to make a buck by trading in and out. With fundamentals like this, I decided not to jump in and out with my gold and silver shares and have been fully invested throughout this cycle on that front.
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