SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Rarebird who wrote (423759)4/18/2013 3:04:26 PM
From: Horgad  Read Replies (1) of 436258
 
A 50% retrace of the runup from 2008 lows to the top of 1900 is around 1320. We hit that or got pretty close to it intraday. So it is plausible that POG has already bottomed. Also we are very close in the percentage drop now to what happened in 2008. 2008 was just slightly more I believe. However what I find the most bothersome is that the miners still seem to be foretelling a lower gold price.

The worst case scenario, I think, would be a range centered around about 950 and a long wait for the next bull to start. That would be about equivalent to the 1980 drop that occurred when that gold bull ended and a broad range developed that lasted for 25 years. However like you I do not think that it is likely that this gold bull is over. So the bottom of this shake-out should be somewhere north of 950.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News