Gold

[spinola]

Has gold topped ? I posted a chart in the safe haven thread , seeing divergence and selling off from 1216 to test 1000 dollar mark........ so far its on route, but... some chap on telly cnbc said he's hearing hour long radio shows on advising the public How To Buy Gold...

He said that may be a sign that the gold bull run is over and it often not good when the whole world is talking buying gold.

So GOLDS TOPPED !



?

 

[scose-no-doubt]

 

[scose-no-doubt]

Funny how the start date of this thread coincided with the top in gold.
Didn't make a penny shorting it since then either. Actually I lost a bit.
wtf.

 

[Miss Tint]

I'm very new to trading but have done well in a gold play I first invested in and am still with. Do you not feel with the debt scenario in the US, which appears could be as bad off as Greece, and also with the Euro scenario, that gold will hold its ground and as things unfold over the next year, it will become the only flight to safety left? JMHO

 

[scose-no-doubt]

 

[advfntrader]

I'm SHORT

 

[Liquid validity]

Unless you are an insti or private whale investor I just don't think that gold is important as a safe haven anymore. Granted it still is when trading restrictions apply due to the above size factors.

For a small retail trader, several options now exist that weren't around when gold was last on the menu as a safe haven, namely intraday longs and shorts. Personally I couldn't give a flying fook about gold, just another instrument to trade thats all.

It is however still a very useful barometer for insti and whale money flow, so in that sense, still a good economic pointer.

 

[viktor_k67]

I would not buy and hold at the top. Even if it supposed to go up, buying after such rally is not. See volume chart from MarketVolume's web site.

Volume on GLD is going down, money flow is going down -which means the number of buyers are reducing. With such tendency we may face move down.

 

[anley]

There's a bull market is people calling for a top in Gold that's for sure.

And by the way, one 'sign of a top' people are talking about is those Gold selling booths that have been appearing in shopping malls.

Believe me, they've got nothing to do with any top or bottom in Gold.

The real reason they've started to appear in numbers is because there's serious money to be made by ripping off idiots who sell them their gold.

Got a £200 chain for example (melt value), they'll probably offer you £40 and tell you it's a good deal. Of course, if you know the value of the chain you wouldn't sell but their business plan revolves around the fact that most people don't know the proper melt value of their little trinkets and are desperate for instant money............

 

[scose-no-doubt]

any further input from anyone given new highs?

 

[Vilas]

any further input from anyone given new highs?

SURE ! Higher - sooner or later because Paper-currency gets sodden after any shower but Gold needs Aqua-Regia ......... So, heigh ho the Holly, This life is most Jolly !