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Gold spike to $950, Oil spike to $145

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CrownA
Super Contributor
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12 REPLIES 12
scandal
Super Contributor
gold up to 963. Should it trade above 975 in the coming days i would expect it to reach about 1040 which is about 100 points from it's recent price channel top.
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CrownA
Super Contributor
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scandal
Super Contributor
today seems like testing 970. Close above that and next resistance is at 975 which would test neck line then we would be completing reverse head and shoulders...
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scandal
Super Contributor
well 974 as i type, hold above this price would bode well for the metal.
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Mr_Bean
Frequent Contributor
If Gold is now at $971.00, and Rand is expected to weeken to mid R8's, add the world market inflation etc, then why oh why are the gold shares just sitting there? I have just got into GFI, and am wondering if this was a mistake.
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scandal
Super Contributor
gold shares are not where you will see price action. GLD would be a better bet since it is the price action (if gold goea up price follows) without individual companies influence (i.e cost od doing business etc. A close above $975 will be good for further run on gold. OMHO
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scandal
Super Contributor
Just sailed through $975 prepare yourselves for a gold rally up to $1020 possibly.
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Surf_Rat
Super Contributor
Glod 980 on bloomberg all is set for as rally lets see after 4 pm maybe we have high tide ,even a spring tide wax the boards the billabong is on at J bay
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Surf_Rat
Super Contributor
So Looks like the tide came in GFI 100 plus : gold now 986 , oil 144 , dollar weak against the euro can we surf tomorrow come on gold brains give us some tips man waters getting cold
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Mr_Bean
Frequent Contributor
As much as I think Gold will go up a lot more, I got out of GFI at its highest today. Will enter on a pull back around R95.00, I hope.
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barry_1
Super Contributor
ANG might also do very well in future as i was informed in a newsletter that they have sold down their hedge book by another third,preferring to take the pain now and with all those unhedged ounces in future should see a spurt in their earnings,next year.
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Surf_Rat
Super Contributor
nice run on the gold need to chill a bit after that ride wait for the next offshore cheers ( Hope some people made some money ) cheers
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