GOLD trading at 806.80 today as it is gap-down. The speculation is over done, as noted earlier. While ending gold bull market does not equal to ending financial stock bull market. I do not think that we will see gold-mania as we had for a while.
~~
Posted by: __1Best__
In reply to: __1Best__ who wrote msg# 4072
Date:11/7/2007 11:39:14 AM
Post #of 4292
GOLD ending Gold bull market at 850 +/-: Gold recently made parabolic moves based on speculation that the world is falling apart. Gold traded to 850 in 1988, then traded down for 15 year bear market. As mentioned before, Gold speculation is pure speculation based on "what-if" scenario which has no fundamental basis for it except gold demand as a tangible asset; however, the world population does not demand gold dramatically more than it has before as Gold is preserved, not consumable commodity as oil/natural gas. Other speculation based on the value of $USD and geopolitical instability is just pure speculation.
Mentioned the above this morning that Gold speculation is over done and it will likely enter Gold bear market.
I think that GOLD will likely make long term top near 850 and will be entering in Gold bear market.
