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Gold ETF (GLD)

DaveNay

Klaatu barada nikto
SUPER Site Supporter
The Gold ETF GLD is approaching it's 50SMA. Be on the watch for a bounce if it drops below the 50SMA. If it goes through the 50SMA but doesn't bounce, I'd be looking at a stronger dollar.

GLD%202009-12-11.png
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
The Gold ETF GLD is approaching it's 50SMA. Be on the watch for a bounce if it drops below the 50SMA. If it goes through the 50SMA but doesn't bounce, I'd be looking at a stronger dollar.

Agreed on your first statement but see no real logic for a strong $$$. Perhaps a false perception of a strong dollar but not any real strength.
 

DaveNay

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SUPER Site Supporter
Agreed on your first statement but see no real logic for a strong $$$. Perhaps a false perception of a strong dollar but not any real strength.

Depends on the length investment you are looking at. I don't really care if it's a false perception of the dollar strength, if it goes up, I can still make money off of it in a short-term investment. 6+ months, agree with you.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Ditto.

I've been a gold accumulator and am not planning to stop with this downturn. On the other hand, I do bet on the dollar with foreign currency but may be in and out of those investments in a day, two or a week.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Strikes me that we have found price support for GOLD. The slide seems to have stopped and its just sort of hovering in the current range. I think we may soon see an uptick. There is talk again of inflation, and there is also talk of slower than expected growth in many sectors. That all makes gold (and most commodities) look better.
 

DaveNay

Klaatu barada nikto
SUPER Site Supporter
Strikes me that we have found price support for GOLD. The slide seems to have stopped and its just sort of hovering in the current range. I think we may soon see an uptick. There is talk again of inflation, and there is also talk of slower than expected growth in many sectors. That all makes gold (and most commodities) look better.

Ask and ye shall receive.

GLD%202009-12-16.png
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Oh well. Good thing I've been in gold since the price was a lot lower than today. Still, today hurts.

Bizarre turn for ALL stocks, commodities, and everything EXCEPT the US$. Seems that despite the fact that the US$ and the US Economy suck bad, the rest of the world sucks worse so all of a sudden the US$ looks good. I don't expect that to hold up.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
I don't believe it was unexpected. I heard a week or 2 that gold hit it's peak for awhile and was going to go down or stay flat. That kept me away.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
I don't believe it was unexpected. I heard a week or 2 that gold hit it's peak for awhile and was going to go down or stay flat. That kept me away.

Well here is a reason to get in while the price is "low". Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that's not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That's nearly 30 percent of the US GDP. Our currency will drop in value, that much is certain.
 
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