Gold trades over $1,000 an oz. ... now what?
O.K. so the magical $1,000 and ounce for gold has been reached,the bulls are all cheering, so where do we go from here?
Is the party just beginning or it it almost over?
From a technical perspective the trend for gold remain firmly in the hands of the bulls.
The bull market for Gold is now seven years old and by most accounts that is pretty old as far as bull markets go.
Here are the levels we would watch on the upside: $1,050 and 1,100. That represent another 5 or possibly 10 percent move from current levels. The caveat has to be we are at all time highs in dollar terms and a great deal of the upward move in gold has come about because of the declining dollar.
Our "Trade Triangle" signals have been doing extremely well in the gold market this quarter. In fact you can see our Q3 '07 and Q4 '07 trading results here.
Our last trend signal to be long gold based on our "Trade Triangle" signals was on 12/26/07 at $817.10. See Chart. This week we are protecting our long positions with a stop at $964.70. This stop is adjusted every day to meet market conditions.
You might also want to watch a short video titled 90 second gold. In this 90 second video, I told you it was a short, you will see exactly how we approach the gold market.
Every success in the yellow metal.
P.S. Don't forget to vote in our latest poll. Thanks.
4 thoughts on “Is the party over for gold??”
The question of Gold's rise can be answered with one simple observation.
1) Are the Governments of the world continuing to inflate their money?
2) And by how much?
If 1 is yes, then there is your answer.
Number 2 will tell you by how much...
Rasesh from india.
Gold reflects weakness of curancies worldwide, and will continue to rise, and may tuch $1200 to $1350 or even more.............. but what about next after?
After achiving upper targets, whatever mark it may be, but from that PICK POINT, afterwards, VERY SHARP AND LONG, LONG AND LONGER BEAR FASE WILL START WE MAY FOUND $450 TO $600 LEVEL AGAIN. Even hadge funds will also not survive IN A ANY MANNER.
I live in Indonesia, I got jewelerry stores over big cities.,, my business right now is reduced by 80%., I only have business activity 20% compare to normal time since the gold price go skyrocket.., instead of selling GOLD.., people bring their gold to my store and wanted to cash in..? is it craazy....? but it is the fact...! a lots of them.... probably 85% of them cash in teir jewerrly for dollar.
What is going on...?
Those hedge fund are not realistic.., We will see that some of them will go to bankrupt in short time because they are cought the BUY HIGH and SELL on LOW.
Do not follow the noice in the crazy market.., they are not realistic any more.
I do not beleived that the BULL is still intack. All those Bull scenario is drived by the speculator, not by supply and demand.
In fact right now.., the demand for gold is reduced by 75% for retail consumption. If you said that it is for the Inflations hedge..? I also do not beleived so.., What did you got with very high skyrocket price for..? You will be torn down by the Hedeg Fund..when they are selling and took their profit...??? it will happened any time soon.., In Asia.., all consumer now start selling their gold stock instead of buying Gold.., because the economy is not that as reported by the media..., they are not real and drived by the hedge fund to report a certain thing they wanted to say...,
Any way.., I will see the Gold is at any moment will go down below 600 $ again and the hedge fund is laughing that they collect the money...hudge money from profit......., that is my opinion.
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