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No one is working harder for us then Gary! Thanks!
Playing gold for a counter trend rally is tough enough. I’ll be glad to get out of that trade with a small profit. Sooner or later, these central bank criminals won’t be able to prop up the general markets anymore with these farcical short squeezes, and everything will get sucked into the inevitable deflationary vortex.
They’re not going to stop me from rolling over small amounts in cheap out of the money puts, until this turkey blows up. It’s the only possible way to make big money as a bear, without losing your shirt waiting it out.
Not going all the way there. Not enough time to reset sentiment.
USD is going to fall like a rock once everyone and their brother gets that the Fed “might” and I say might hike once or at most twice in the next 2 years. And not start a rate hike campaign like the 90’s or 2004-2007.
Gold down 7.8 points after hours, and US Dollar Index up 0.27% Easy come, easy go?
hahaha the USD is calling already the FEDs bluff it will sink like a rock believe it or not
Gold may not literally be a pet rock, but it sure knows how to DROP like one! 🙂
there must be always a bag holder:))))
Gold down 10 and sinking….
China just devalued its currency: http://www.businessinsider.com/china-just-devalued-its-currency-2015-8
BBC reporting is as the biggest devaluation for a decade. Two percenr.
How high will gold move in this rally? It will define the intermediate trading range high imho
I called it pretty good I said 6th of August 🙂
http://www.tfmetalsreport.com/comment/501183#comment-501183
Gold bottomed on the 24th of July???
Ok so it was a Swedish analyst, however I am ready to profit from this hopefully above 1200 rally …
http://www.tfmetalsreport.com/comment/500210#comment-500210
For all those who mention the shortingi and manipulation of gold by the big banks, I suggest you look at the 75,000 net short contracts by these same banks on the US dollar. That is a 8 to 1 short to long position. You think these banks which control the fed will allow them to raise rates and decimate their positions?
With the mayhem in the conventional markets today I just can’t see TPTB wanting to see gold and silver continue to rise. I strongly suspect that we will have another attempt at a major smackdown this week.
Pump the brakes — chart not set up for smackdown this week, otherwise it would have already occurred with CNY devaluation… but heading in that direction… daily chart still needs to get overbought (among other things I mentioned this weekend) to sustain a sell off, weekly chart is at least one candle from a peak… and the smackdown will not occur immediately after the peak…
So much for oil going up… China is indeed in a downward turn.
Give it a few more days. The energy stocks are not confirming the move lower in oil. Plus it’s late in the daily cycle. Oil should be on the cusp of a nice rally.