Gold Futures Index (GOLD)

[Pro-Life]

Gold - The Urgency To Buy
Tuesday October 13, 2015 10:56

http://www.kitco.com/commentaries/2015-10-13/Gold-The-Urgency-To-Buy.html

Per recent missives, Gold -- as it did twice more this past week -- is putting in a sufficient number of "lift-offs" such that we'll stop enumerating them. The point is: Gold is banking buying bursts on each broadly visible suggestion of central banks' eventually queuing up for Quantitative Easing, our own StateSide FedHeads, (behind the bravado of a looming raise in their Funds rate), we think awkwardly "feeling" QE, albeit clearly not "acknowledging" QE ... at least not yet.

What we're "feeling" and "acknowledging" across the recent rippling of the Gold trade is a prudent urgency to buy, and to so do with gusto, (price then subtly drifting downward after each such instance), ... and then Bang: the Buy Button is hit yet again. 'Tis still another sign in determining "how we'll know when the bottom is in". And with Gold today at but a lowly 1156, you regular readers know we've already established that price must work well up through the 1200s before declaring it indeed has reached as low as 'twill go (i.e. 1072 back on 24 July).

That said, the urgency to buy of late continues to be impressive, relative to many-a-failed attempt which we've witnessed during these past four years. To be sure, October's upside thus far may not appear to be worth jubilating about: Gold's remains down 2.3% for 2015-to-date, (not that we need remind ourselves 'tis also down 40% from its All-Time High of 1923 on 06 September 2011).

There is a lot more with plenty o' charts at the link above...