General Discussion Undecided where to post - do it here. |
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as long as US $ can be used to buy other REAL things, people will sell assets, including commodities & PMs, to buy other things. |
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Quote from Neuro on a different thread:
they allready pumped in 2.6 Trillion dollars worth of liquidity through the currency swap last week. If they by not openly monetizing, can keep the markets down initially, that means that those banks gets a part of that liquidity can buy up assets on the cheap. I think we will see silver down to about 35-36, probably within days, Dow to the low 10k's, and then those on the inside will start buying... And then it will accelerate as the money trickles in to the market... Rapid gains in the spring until the money runs dry. Wouldn't be surprised if we see gold at $2500, silver at $100 and DOW at 15.000 in May or so... |
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Yeah, but this is a pretty big sudden drop and nothing has changed. Everybody just decided last night that they needed cash for something? The sell off must have been precipitated by something. And on a technical level, the 200 day moving average for gold is $1500. So this is perfectly in line with expectations. Gold has been acting like this for 10 years, and I don't see why people are still surprised by it. The only short-term favorable is the seasonals. I suspect we're going into the wrong season for gold to be approaching its lows, so I would guess it won't get anywhere near $1500 any time soon. More likely it will get down to its 200 DMA moving average next summer, when it will be more in the $1600-$1700 range. |
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I was just thinking of that post when I saw the numbers this morning. |
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