Neb: i think the gold play is done
I thought the gold play was done over a month ago. I actually started my trading by buying physical Silver. Silver has been my honey pot from day one. But it used to be so much easier to predict both gold and silver.
I really don't think gold is done anymore. The debt reduction panel has until the end of Nov to come up with their plan. Than it has to be approved before Christmas. I think we're going to see pretty much the same crap we just got through at the begining of this month.
1) Venezuela just asked for delivery of their physical gold, and nationalized the gold within their borders. I don't believe these banks will be able to come up with it. When that happens, WATCH OUT. That will point more fingers at Ft Knox not having our gold.
2) The BRIC nations, (Brazil, Russia, India, and China), are stocking a lot of gold, and buying up a lot of world resources. By the way, these nations want to start a world currency of their own, backed by gold, and than price world oil under this currency.
3) Germany/France just recently flirted the idea of not helping the PIIGS, (Portugal, Ireland, Italy, Greece, and Spain), unless these nations hand over their physical gold to Germany/France to hold as collateral. I don't think the PIIGS have their physical gold anymore.
4) Ramadan will end very soon. At that time the Muslim people/nations will begin to pick up on their buying again.
5) This is the summer months. The time of the year gold/silver almost always has dropped. Late fall/winter has almost always been price increases in gold/silver. Late fall/winter is just around the corner.
6) Our Gov has been throwing money, at the WORLD trying to jump start it, avoid deflation. I won't get into this is all Obama's fault, because yes this admin has blame, but let's not forget TARP, which was under Bush's admin. I would also like to add, Hank Paulson, we all remember him. Well he started an ETF with GOLD in mind. That says a lot right there, when that man doesn't believe in the dollar. Anyhow, we all know those dollars have to be soaked up someday, and that most likely means INFLATION. Which has always been a bullish word for Gold.
7) All these, "We buy gold", "We give top dollar", ads/commercials, companies, have pretty much got all the gold their going to get. Most sold their jewelry a long time ago. That industry was able to fill the demand for awhile, but not any longer.
8) I know there is so much more, but that's enough to make my head spin. My guess is gold will maintain between 1500-2000 through this year. After the first of the year it will begin its next bullish move, in anticipation of the 2012 elections. I honestly believe Silver has even started its bull run yet. I believe silver will be the best investment in commodities in the years to come.
Anyhow, that’s my take. GLTU.
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