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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 09/18/2009 : 20:43:56
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"Everybody is saying the market is too long, but no-one wants to sell," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong." There's too much money in the world as central banks take easy policy and as funds push up the market with the money. They see (the) gold market as easy to manipulate...like a casino."
As a function of dollar weakness with an inverse correlation, gold is pulsing higher as the dollar falls, but that does not equal optimum conditions for the metal, some say. "This is not a bull market for gold, it's a bear market for paper currencies, led by the dollar," said Sean Corrigan, chief investment officer at Diapason Commodities Management in Switzerland.
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fb101
Administrator
USA
2856 Posts |
Posted - 09/18/2009 : 20:49:12
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I read that earlier. If I remember correctly about 3 weeks ago Nadler was saying that gold would have to move decisively above $950 and hold that. Ahem.... I think this meets the criteria, but he changes his' criteria as the market moves.
As far as the comment regarding the dollar, If Dollar down equals gold up, and the dollar is destined to fall, I don't see where it matters much to people who are stuck with the dollar, their PMs will appreciate with the decline.
One thing for sure, If and when Nadler ever says it's time to buy gold, you'll know it's soon time to sell. |
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keys
Penny Collector Member
383 Posts |
Posted - 09/19/2009 : 10:25:41
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Maybe, just maybe, Nadler talks down concerning gold secretly hoping that by doing so the price will go up contrary to his words.
If Nadler speaks well of gold and it goes down, investors get mad at him for giving bad advice.
If Nadler speaks ill of gold and it goes up, investors think he is being too cautious and too pessimistic.
Sometimes you just can't win when you try to give adivce. |
I change with the times-
but like silver coins found in your change
I stay the same.
*****************
The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
Edited by - keys on 09/19/2009 10:31:13 |
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