The second run of quantitative easing is coming to a close and no one can quite agree on how it will effect the market moving forward. Regardless of your opinions on QE and QE2, the government's "easy money" policy has a profound influence on the price of gold, stocks, and the dollar.
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"Don’t hold your breath …"
Are you talking to the COMEX?
Don't hold your breath ...
A tiny tiny percentage of the population (from 1 - 3%...closer to 1%) actually own gold and or silver. Just wait till the collapse of the US dollar. There will be a run on precious metals to try and hedge massive losses in savings, 401k's etc. but there won't be enough supply to meet the demand. I'd say buy physical silver & gold, something you can hold in your hand. That's what the insanely wealthy are doing, including the University of Texas, who recently took delivery of 6,643 gold bars worth $987 million dollars. University of Texas now holds $19.9 billion in assets, ranking 2nd behind only Harvard University. So go ahead and sell your precious metals if you are dumb enough to believe gold and silver are done rising in value. Actually let me rephrase that, gold and silver aren't actually rising in value, the fiat ponzi scheme federal reserve notes are worth less (or worthless), worth only the paper it is written or about 4 cents. Just my "4 cents worth".
As an end-user of silver, I am delighted to see last week's stampede, and pray that the recovery to $36 by the end of Friday trading will be a dead cat bounce only. Look to Monday's activity: I'd bet the rent that the day will start bullish and then a wave of profit-taking after lunch will initiate another selloff and this time down to the real floor of $30 or less. Best time to buy is probably going to be Wednesday -- and then HOLD ON TO IT. them are sheep, all one need do for the most part is (1) don't be stupid and (2) don't get rattled.
Of course, I shouldn't be telling you this, since the more of you are sheep and sell off, the lower the spot price goes and the happier we end-users will be.
He you are absolutely right. But when you strictly follow Elliott Wave Theory and one of my friend is a guru and he does do that.
He advised us to sell silver 1 week before, with a risk to reward ration of 3 i.e risk $3K to make $10K. Only one of us did they both walked all the way to the bank recovering all the losses they made this year and a handsome profit to boot in one trade!
My point is even if the Analyst recommends a trade only 10% follow the recommendation and is OK. Every one of us have to develop our own method & discipline and be independent to make money. But we must use all the tools available to educate our selves and protect our capital, which is the main aim of any trade.
best comment goes to Keith @ 2011-05-06 14:01:25.
As long as the debt fundamentals don't get better (they will actually get much worse), gold can only go up.
It felt good to hold on to my gold/silver this week while the short term traders were running like mad for the exit.
- Gold and silver = money -
Inflation is coming.....Gold is a hedge against it.
US$ is devaluing......Gold is going to rise until it is priced in US$
China is converting surplus to gold......Gold is going to rise with new demand
China Govt is endorsing Chinese to buy gold......Gold demand is going to rise
Gold supply is not increasing.......Supply-Demand equation is a lop-sided
Normal Portfolios never had Gold in it.......Now Gold is entering those portfolios, therefore new demand
Indians/Chinese have a huge appetite for Gold.......This appetite is just growing with their new higher middle class income earners
QE2 or QE3.......Americans are losing faith in US$ / Government.......Gold and Silver is new money and demand to stay up until we resolve our own issues.
These are just off the top of my head, and hence I am holding all my gold, diamond, silver and going to be adding neumismatic coins, bullion and ETFs every chance I get (deep corrections).
Disclaimer: Lowest cost on gold is $350, and highest cost is $775. Lowest cost on silver is $7 and highest cost is $34.
Kenny
It is only the opinion of 83% of the 790 Voters in this Poll - not the number of Investors actually holding gold. There are millions of Traders out there who have not voted in the poll, many of whom will just keep on buying and selling gold - but what for?
olá gostei muito e estou gostando de participar deste trabalho de vidios deste estado brasil muito suçessos para todos os comentaristas seja voçê também um que nem nós ok ass-RENIVALDO
"Hello I really enjoyed and am enjoying participating in this job vidios Brazil this state be successful for all the commentators Be one that neither we ask-ok RENIVALDO"
Translated using Google Translate.
The problem is the 14 trillion DEBT. Gold is a hedge against DEBT. QE will continue as long as the Federal DEBT increases. Gold will continue to rise in dollar prices until the debt problems are solved. The debt problem will NOT be solved any time soon. Did the sell off in gold lower the Federal debt? No? Then there is no way gold is going lower on a long term basis.
why do we call it gold, not dollar or euro? ask central bankers.
there has to be something telling us fiat money is increasing in the world.
&GEORGE SOROS & CARLOS SLIM THIS WEEK WERE SELLING THEIR SILVER POSITIONS..... AS YOU KNOW, THIS IS HOW THE WEALTHY GETS RICHER,,,,, NOW, THEY WILL BUY AT A LOWER PRICE & LOAD UP ONCE AGAIN......THATS THE STRATEGY.... ALWAYS WORKED THAT WAY......
I simply look at this as a healthy correction. The need for precious mental to stabilize and maintain solid market principles. This ushers in another chapter to a great bull market with little risk and an opportunity to increase my personnel security. Prior to buying, always have a sell point. Know exactly where you want to profit and stand by your decision. When I began buying metals in the late 1990's people said I was nuts. Those same people now say I'm nuts for not selling. I'm in a hold position. We will see $2,500 or better au and $100 ag or better prior to 2015.
To our success,
David V. Tanner
Based on this poll with 83% saying higher I would say gold is going lower. I base this on supply and demand. If 83% are in gold then there cannot be much more upside.
LONG TERM GOLD IS NOT THE BEST BUY...THE MARKETS WILL SOON BE FLOODED WITH IT...SILVER IS A MUCH BETTER BUY ON THE LONG TERM INVESTMENT
GOD has much to say about Gold SO I WOULDN'T sell gold short yet. Until manufacturing returns to the USA, the dollar will continue to fall because i cannot see the USA returning to the gold standard and we have very little to back the IOU DOLLARS. MANY MINORITY MOUTHS TO FEED AND COUNTRIES WITH HUGE (OUT OF WORK POPULATIONS) DON'T HAVE MUCH BACKING FOR THEIR DOLLARS EITHER. HUNGRY PEOPLE EQUAL SLAVES. SLAVES BY THEMSELVES HAVE NO VALUE. THEY NEED SOMETHING TO MANUFACTURE THAT IS OF VALUE. HIGH ENERGY COSTS PROHIBIT THEIR FRIUTS OF THEIR LABORS TO BE EXPORTED TO BRING BACK WEALTH OR MONEY. IT'S A LOSING BATTLE FOR ANY INVESTORS. EDUCATED SLAVES ARE WORTH MORE THAN STUPID ONES.
This looks like a retractment on the second phase on an upward move. My thinking is that its will bounce around the 50 day SMA a little more then travel upward gaining momentum until it reaches 1700 with bad news or maybe 1650 if the world goes quiet and 1600 if some miracle happens and we get tons of good news about the American economy or perhaps the rest of the world.
It isn't just QE2 (or QE3 or QEn) that will drive gold much higher, it's banking and the banker's incredible and unjustified free license to create unlimited amounts of fiat confetti debt instruments, and then completely baffle the masses into believing it is money!
“Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again. Take this power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this world would be a happier and better world to live in. But if you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit."
.....1940, Sir Josiah Stamp, Director of the Bank of England.
We will have QE3 by stealth and the smart money will continue to flow into gold.
I expect a lot of volatility, and possible drops to $1300 over the summer. You will hear "end of the bull market in gold".
That's the time to buy and we'll see $1650 by December.
Did your trade triangle technology warn of the 30% fall in silver? Don't see anything around about this -- no videos either. Adam made a vague mention that he was "concerned" about silver. That's not the same as saying "guys, our indicators say sell silver".
Sid,
Adam's been away on vacation, hence no videos on the subject. However our Trade Triangle Technology and Alerts exited the Silver market on 4/25/11 @ 45.46 saving our members from the large drop down to the current level of 35.50. I see that your not a member yet and encourage you to give it a try!
http://club.ino.com/join/
Cheers,
Jeremy
You must be kidding - QEnn is the game of the Fed and all central bankers. The Euros hide it a bit better, though. The Fed and all central banks are run solely for the benefit of the banks and their wealthy owners. The USA and the rest of the world need to wake up - if Iceland can say stick it to the banks we can do. END THE FED NOW BEFORE WE ARE ALL IMPOVERISHED.