9 thoughts on “CHART OF THE DAY

  1. bob davis

    Depends on what is said at the FOMC meeting. If it’s positive, probably negative for gold and vice versa. Theres my stab in the dark.

  2. Bob UK

    Here’s something to consider – is it possible that the bubble bursting in Chinese stocks will see a rush of inexperienced Chinese people, who will experience their first major bubble burst, move from stocks into gold as they will see gold as something solid and tangible?

      1. Bob UK

        No, I doubt US Dollars or foreign markets.

        Put yourself into the mindset of the average Chinese person. You know nothing of buying foreign currencies let alone how to go about buying foreign stocks.

        In the past year or so you have been lured into the frenzy of buying Chinese stocks because, like in the US and UK in 1929, everyone else is doing it and making ‘easy money’ and then it just goes POP… so imagine your mindset when that happens. Gold will be seen as real, physical, something you can hold on to as opposed to stocks.

        Just theorising.

        1. bob davis

          Yea sure I agree the amount of physical buying should rise in that scenario. I don’t think it will have any influence on the comex price. Who is an average chinese person, the poor farmer or the hedge fund manager, It’s a very diverse country plenty of funds could move abroad.

          1. Bob UK

            Those who have the ability to move funds abroad have done so – and bought houses in the US, UK, Canada, Oz, NZ, etc, etc.

            I am thinking of the new middle classes in China – those earning good money cuurrently.

    1. Roy McIntyre

      They go to cash. The average Chinese who earned cash, bought stock, and then lost cash when the stock crashed, will not be looking to buy more stock. Nor gold. Nor anything. Cash will be seen as cash, and everything else will be seen as risk. No one who just got burned by speculating is going to want to spend their few remaining Yuan to speculate some more (only traders and drug addicts think like that). They’re going to want safety. Nothing whose price changes with market conditions will be seen as safety (yes, I know the value of cash changes with market conditions… again, think like a normal person and not like a trader). “Under the mattress” is safety. That’s where the cash is going when China pops. What little cash is left, anyhow.

  3. Tom

    Today will be more of the same. Stocks will be retesting highs soon then breaking out again.

Comments are closed.