Gold hasn't reached $1000 yet....still more upside to come. Is it sustainable......not sure.....if the Dow tanks and the rand starts to weaken Gold could shoot up to $1030 before thinking about slowing down
Weak stops get taken out just to get the smaller traders out the door leaving the direction and real money to elite traders. I believe saash is heading in that direction - elite trader ;-). Also I like to see gold trailing plat by 20% for a change. Plat has been easy 100% ahead of Gold for some time, until the crash last year, and finally Gold is comming back into its own. I am not a gold bull but like the market dynamics at play. Every green shoot discussion tends to lead to gold price spikes so there is a sector of the traders/investors that are reading past the spin doctors. OMO
100%..If the green shoots were that green,gold wouldve been dumped to $700..The way I see it,is the only reason the equity markets have been rallying is bcoz of the enormous liquidity that the stimulus packages have browt in.Theres absolutely no fundementals for the rally,earnings are as low as they can go.Investors are faced with a scenario,put money in bank and get 0% return or the wise 1s invest in gold ETF's/stocks, or the physical metal itself..I see gold flying..4th quarter US earnings disappointing and my view is that the record profits by the US investment banks were a once off play..I could be wrong,but ya thats the way I see things..