Gold price falling, markets rising

thrupence

Now that the gold price is below $900, has anyone any points of view chartist or otherwise as to how far the gold price may fall or the market may rise?

And how many more bottoms and legs and whatnot etc etc...

Stavros_3

We need our resident 'buy gold' experts to answer that one

lectureral

I guess he would say that it only fell marginally today against the £ - after all most of our alternative investments are in £ - and that it is still up on the week, month and year and up about 200% over 5 years. Personally I wish someone had converted me to goldbug in about 1999!

gozomark

observers are calling it falling to $ 500 (well I am)

Lol_UK_2

lectureral wrote: »

I guess he would say that it only fell marginally today against the £ - after all most of our alternative investments are in £ - and that it is still up on the week, month and year and up about 200% over 5 years.

Might be a good time to buy now- before it goes up again!

Lol_UK_2

gozomark wrote: »

observers are calling it falling to $ 500 (well I am)

Well then I might start to doubt Peter Schiff's predictions!...but I'm into the small amount of gold I have for at least this year, and things have yet to really bite IMO.

King_Of_Bling

thrupence wrote: »

Now that the gold price is below $900, has anyone any points of view chartist or otherwise as to how far the gold price may fall

i need some gold

purch

It was this time in 2008 that Gold managed to break through $ 1,000 oz. The fact that is hasn't managed to achieve that level on this upmove should be viewed technically as bearish in the short term.

Even those who don't understand much about technical analysis and charts could probably look at the 12 month chart and see that Gold could easily fall back into the $750/$700 range.

The market needs a pullback, if it holds above $850 it would be reasonably bullish medium term.

Lol_UK_2

purch wrote: »

It was this time in 2008 that Gold managed to break through $ 1,000 oz. The fact that is hasn't managed to achieve that level on this upmove should be viewed technically as bearish in the short term.

Actually it did reach over $1000 in Feb this year- and granted has been wavering over the last few weeks. I would maintain that we are in uncharted territory as far as world economics go, so I think to assume it will go back to 'usual' levels is somewhat optimistic.

cloud_dog

purch wrote: »

It was this time in 2008 that Gold managed to break through $ 1,000 oz. The fact that is hasn't managed to achieve that level on this upmove should be viewed technically as bearish in the short term.

Even those who don't understand much about technical analysis and charts could probably look at the 12 month chart and see that Gold could easily fall back into the $750/$700 range.

The market needs a pullback, if it holds above $850 it would be reasonably bullish medium term.

Wow...... someone who appears to have actual knowledge of what they speak :T

tradetime

thrupence wrote: »

Now that the gold price is below $900, has anyone any points of view chartist or otherwise as to how far the gold price may fall or the market may rise?

And how many more bottoms and legs and whatnot etc etc...

Needs to hold the 880-900 level imho to keep the up trend intact from October. Big test for the S&P500 if it can get there is to close and hold above the November lows at 742.