Replies to post #2578 on Direxion Daily Gold Miners Be (DUST)

[mannken]

Haha

Earth falls out of orbit and crashes into the Sun is my bet lol

I think gold is going to 1000-1100 or lower based on macro data, no idea on a time frame though. But I'm looking for 1190-1200 area bounce and short term run off channel S/R lines before Gold heads further south.

DXY is looking a little toppy IMO.

[str8_chuter]

Looking at the declines in precious metals prices, $GOLD has some catching down to do.

Why is $GOLD down a mere 10% from its high this summer while silver is down 22% and platinum and palladium are both down 15%?

Even if $GOLD simply matches the percentage decline of $PLAT and $PALL, we are looking at prices in the mid 1100's.

So if $GOLD does drop to $1140 or $1150, where does that put GDX? Maybe sub $20?