The Really Useful Gold Thread

Mr W, I know if I had gone long on Dec 25th last year - if my broker were only open - and stayed long till now, I would have earnt more than trading in and out. But I'm not a good a trader, though I'm improving. In fact I only made my first trade in December 2005 (long gold from 503) and got stopped at 493.

Sorry to hear about the hit.

Which trendlines do you use?I am a big fan of the 275 dma - and it's equivalent the 55 and 60 week MAs both also work well as indicators of essential support.



On the basis of this MA, if we don't see 599 in the next few weeks I don't think we will again.

Remember how sh*t the predictions were last year - only the bod from Bulliondesk called it right and even he underestimated silver.



Well, here are this year's predictions:


'Twelve of 30 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on Dec. 7 and Dec. 8 advised buying gold. Ten respondents said to sell the metal, and eight were neutral'.

Twelve say buy, ten say sell. That to me is further confirmation that gold has past stage 1 of its 3 stage bull. It is now on people's radar. Funds and others are becoming aware of it; we are in the early part of stage 2. But most will take another year or more to discover the junior mining sector. When 20, 25 or more are saying everyone should own some gold - that's sell time.





Interesting that Bernanke looks at the gold price on his screen every day.