HNY to you too, Mq.
Too bad your sooth missed, unless Au falls 40 points by the end of the day - very unlikely but there is still time for you to be correct. We shall see.
By the way, if you have titanium testicles, you can make a very nice living trading gold near options expiration time. I think end of year buying and selling conflated with options expiry accounted for most of the damage which was done, as well as a couple of inconsequential news items, i.e., China's new trading scheme and indications that the drop in the rupee vis a vis USD presumably means less Indian gold buying.
All of this is a mote of dust when considering the problems the fiat currencies are having, the enormous and growing public and private debt, and the slow train wreck which is Europe.
I have said it before and I'll say it again, before Au takes off parabolically, it will fall as fear drives money into the USD. This will cause US interest rates to remain low, creating the prospect of even lower long term negative real rates, the real driver of gold prices.
Have not sold a milligram of gold. When fear hits and the USD soars and gold tanks, I will buy more.
You might also wish to join me in a 3x short of the Japanese Government Bond, via JGBS. There will be widows or fortunes made, one or the other. |
