Hello,
Gold and Silver
What is reason of parabolic rise within last few week and days?
I can sum up the whole arguments by writing QE
Its worthwhile to spend your time on below stories and come to conclusion yourself instead some great minds on cnn or business channel explaining you facts
http://www.marketwatch.com/story/bank-of-england-holds-policy-steady-2010-10-07?dist=beforebell
http://www.marketwatch.com/story/race-to-the-bottom-in-currency-markets-2010-10-07?dist=beforebell
http://www.theglobeandmail.com/report-on-business/economy/currencies/pressure-mounts-on-china-to-stop-currency-war/article1745532/
http://www.china.org.cn/business/2010-10/07/content_21070259.htm
As per my techncial indicator it has run ahead in shrot run and would welcome 3% to
5 % correction however i am very bullish long term if you have your view past one week or one month
http://www.theglobeandmail.com/report-on-business/top-business-stories/why-selling-the-us-dollar-is-the-only-game-in-town/article1746906/
Market
Technical indicators are all indicating a bullish sentiment despite horrific fundamental , I would to consider my positon before market reaches DJIA 11300 -11500
Have a great weekend
Rubin,
ReplyDeleteThese are Warren Buffett words about Gold:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
Is he getting this wrong ?