Bye Bye Gold Nonsense

[J. J.]

Gold closes at 1746.30, -2.7% off high close.

[J. J.]

Gold closed at 1766.20.  I'm still suspecting a correction to below 1704.

[J. J.]

Gold closed at $1787.10.  I'm still expecting something bigger than the -2.7% correction.

Right now, I'd say:  "The gold, the gold is too damn high." 

[J. J.]

Gold closed at 1789.00, barely up.  I'm still expecting a correction.

[J. J.]

Gold has surged to 1824.90.  Up 35.90.

[J. J.]

Gold at 1853.10, up 28.20.  Another record high.

Silver and platinum also showed increasing strength, up +5.56% and +1.90%, respectively.

[J. J.]

Gold closes at 1898.10, up 45.00.  Another record high.

[Lief 🗽]

I'm sorry, but why does this thread exist? It seems like it's just J.J. posting updates on gold prices...

[All Along The Watchtower]

Ahh, gold...that mythical "stable" commodity.

Seriously, why should the money supply be constrained by gold?

[J. J.]

I'm sorry, but why does this thread exist? It seems like it's just J.J. posting updates on gold prices...

That is basically what it on days where nothing else happens in the market.

I still am expecting a correct of 5%-10% off the high (whatever that ends up being), but as of the close in NY, no sign of it.  I do one on the Dow as well.

Ah, this is the economics board and obviously the price of gold is relevant, especially as a barometer of the world economy.

The price has gone up 34% since the first day of trading in 2011. 

[J. J.]

Ahh, gold...that mythical "stable" commodity.

Seriously, why should the money supply be constrained by gold?

It hasn't, since at least the early 1970's. 

Gold is a good barometer of of economic uncertainty.  It might a good indication of when the global economy starts improving.

Also, since it has increased, it is clearly not a stable commodity.  Prices have not gone up 34% since the first of the year.

[All Along The Watchtower]

Ahh, gold...that mythical "stable" commodity.

Seriously, why should the money supply be constrained by gold?

It hasn't, since at least the early 1970's. 

Gold is a good barometer of of economic uncertainty.  It might a good indication of when the global economy starts improving.

I know that. I was just addressing any potential "gold bugs"

[J. J.]

I'm surprised it hasn't corrected.  It did drop at one point to 2.7% off its then high, but it has been increasing since then.

I'm getting the feeling we are in a bubble, but we really started into it in July or early August.

[J. J.]

Gold is moving lower at this point, currently down 20.  Perhaps we are seeing the start of the correction.

Now down 61; the Dow is doing well.

[J. J.]

Gold @ 1830.10, down 68.  This is a 3.58% decline.   I'm hoping it is the start of the correction.

[J. J.]

Gold is now down more than 5% off its high on interday trading.  It is in the expected correction range of 5% to 10%.  If it closes at that, or lower, and you are interested in a short term investment (less than one year), you might see a buying opportunity in the next several days.

[J. J.]

Gold in correction @ 1751.30, down 77.90.  This represent a 7.73% decline from high.

[J. J.]

Gold @ 1771.30, up 20.  We are in the correction, but the basement of it should be at most 1700.

I would expect it to be in correction for 1-4 weeks.

[J. J.]

Gold at 1829.10, up 57.80.  It is still lower than the pre correction high, but only by about 4%.  I'd expect a record high within 0-3 weeks.

[J. J.]

Gold @ 1788.50, down 40.60.  Still in correction range.

For the short term, i.e. less than a year, gold is a good investment.

[J. J.]

Gold @ 1835.10, up 46.60.  It is still in the correction range.  Expect it to move above that and a bubble to start forming.

[King]

I imagine JJ updating this thread and hoping for reply goes something like this: http://www.youtube.com/watch?v=8UhONY3-1os

Background music included.

[Link]

I imagine JJ updating this thread and hoping for reply goes something like this: http://www.youtube.com/watch?v=8UhONY3-1os

Background music included.

This.

[J. J.]

I imagine JJ updating this thread and hoping for reply goes something like this: http://www.youtube.com/watch?v=8UhONY3-1os

Background music included.

Who said it was hoping for a reply?

As I said earlier, I think Memphis was right, but at the wrong time.  We're about to enter the bubble.  This thread might provide a good record of it.

[Link]

I imagine JJ updating this thread and hoping for reply goes something like this: http://www.youtube.com/watch?v=8UhONY3-1os

Background music included.

Who said it was hoping for a reply?

As I said earlier, I think Memphis was right, but at the wrong time.  We're about to enter the bubble.  This thread might provide a good record of it.

psychosis?