Gold

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Anyone find it a little odd that Gold is moving in the same direction as the stock market in most of '09? When the stock market is down, Gold is down, when the stock market is up, gold is up. I thought they were suppose to move in opposite direction no? Awgee, you think we will see another $880 - $900 before gold heads into uncharted territory? I'm really suprised that Gold is not over $1k yet.
 
[quote author="PANDA" date=1247715884]Anyone find it a little odd that Gold is moving in the same direction as the stock market in most of '09? When the stock market is down, Gold is down, when the stock market is up, gold is up. I thought they were suppose to move in opposite direction no? Awgee, you think we will see another $880 - $900 before gold heads into uncharted territory? I'm really suprised that Gold is not over $1k yet.</blockquote>


I know of no "suppose to" for any asset.

I dunno.
 
Thought this was interesting



<a href="http://www.marketskeptics.com/2009/07/gld-ishares-and-gold-futures.html">http://www.marketskeptics.com/2009/07/gld-ishares-and-gold-futures.html</a>
 
I am seeing a pennant formation in the price of gold which leads me to believe consolidation is occuring at the $930-$950 level. It appeared that gold was heading to the $880 level but the comments by PIMCO and Buffett appeared to put another floor onto the price.
 
[quote author="profette" date=1252453647]<a href="http://news.yahoo.com/s/nm/20090908/bs_nm/us_markets_precious">Gold at $1,000!</a></blockquote>


... and it is ABOUT TIME!!! DANG IT!!!!
 
[quote author="PANDA" date=1252457639][quote author="profette" date=1252453647]<a href="http://news.yahoo.com/s/nm/20090908/bs_nm/us_markets_precious">Gold at $1,000!</a></blockquote>


... and it is ABOUT TIME!!! DANG IT!!!!</blockquote>


hehe, Panda is getting all excited, I bought DZZ $18.5 last Friday for a trade. I still believe gold has a good chance to stand firmly above $1000 by year end, a major equity market correction could bring down commodities all together, but flight to safety should support the gold price.
 
One thing to keep in mind is that if you invest in gold, just like investing in any commodities, it's better to invest in gold companies, oil companies instead of the index itself to avoid manipulation by the big boys.

One thing works against Gold is whenever it gets closer to $1000, most foreign investors (China, German, Russian....etc) will see this as a sign of inflation and demand more yields on our T-bond, thats why our govt will keep lying about the inflation and pushing the gold price down until there are clear signs of inflation. So be patient about gold and trade the range.
 
The Chinese defaulting on their derivatives could be the catalyst that vaults commodities prices upwards.



I think the big thing to look at is now the USD index and whether it drops below 77. There is definitely a lot of air between the 72-77 area.
 
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There are reasons to own gold other than the commodity trade:

<img src="http://i225.photobucket.com/albums/dd197/lalacantu/scroogemcduck.jpg" alt="" />
 
[quote author="PANDA" date=1252477170]<img src="http://img84.imageshack.us/img84/858/pandac.jpg" alt="" /></blockquote>


lol, look forward to your house warming party in a year or 2.
 
I heard a funny piece on the radio (Marketplace) yesterday... that this is Gold season, it correlates with the Indian wedding season, brides & grooms exchange gold jewelry from now until March? I think...
 
[quote author="no_vaseline" date=1252477793]And if you're wrong?



<img src="http://rlv.zcache.com/broke_as_a_joke_tshirt-p235627219519444212tdh1_210.jpg" alt="" /></blockquote>


novas, I am assuming you are sitting on 100% cash playing it safe collecting 1% interest. I will guarantee you that you will be the one broke as a joke.
 
Awgee,



Perhaps that is the reason why the Chinese have lots of savings and we don't. I think too many of us depend on the government for our retirement through their social security and pension plans. I wouldn't be suprised when i am 58 years old and just when i am about to withdraw money from my Roth IRA, they come up with the a new rule that all Roth accounts are taxed 60%. That's why i've started my own pension plan.
 
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