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A few days ago GS released a bullish document on Gold. It seems as if GS is trying to inflate the price more so they can sell their holdings at or near the peak.
I'm thinking of taking a short position regarding gold.
I'm thinking of taking a short position regarding gold.
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Fedhater - why not wait until the current push upwards starts to falter and sell on that weakness. You must either be bonkers or have very deep pockets to go short now on a hunch that GS are trying to ramp up the price of Gold.
Assuming it continues to follow the long term trend, the US dollar index will keep dropping for the next 6 months and the lows of 2008 will be tested early next year.
Couple with this the fact that the Euro, the Yen, the Pound, the Renminbi will also continue to drop in real value as indebted governments fight to weaken their currencies to make their exports more attactive.
This means gold will keep rising for the foreseeable future and should maintain a steady climb up to around $1,500 per ounce by early next year. I expect silver to top $20 an ounce and oil to be around $90 a barrel by the end of the year.
There is no fundamental reason for the dollar to rally, espcially given the Fed have announced further quantitative easing measures and they are unlikely to raise rates or take steps to tackle their ballooning budget deficit any time soon.
There are however plenty of reasons why gold has quadrupled in price over the last decade and as central banks throughout the world accelerate their money printing this trend will continue unabated.
Personally I would not be shorting anything of real value over the next few years.
Couple with this the fact that the Euro, the Yen, the Pound, the Renminbi will also continue to drop in real value as indebted governments fight to weaken their currencies to make their exports more attactive.
This means gold will keep rising for the foreseeable future and should maintain a steady climb up to around $1,500 per ounce by early next year. I expect silver to top $20 an ounce and oil to be around $90 a barrel by the end of the year.
There is no fundamental reason for the dollar to rally, espcially given the Fed have announced further quantitative easing measures and they are unlikely to raise rates or take steps to tackle their ballooning budget deficit any time soon.
There are however plenty of reasons why gold has quadrupled in price over the last decade and as central banks throughout the world accelerate their money printing this trend will continue unabated.
Personally I would not be shorting anything of real value over the next few years.
There is a disturbing trend between what Goldman says and what it actually does.
The aptly-named "Brown bottom". I was impossible to sell that much Gold at a lower average - he really did sell the bottom for that size. Of course, telling the market when you're going to do it and what you're going to do is a good way for that to happen. I wonder if he was a double agent...?
That's what happens when policy trumps common sense.
Another bloodbath on the markets today, shorts are having a field day. Luckily the only postion I have is BP, of which I bought 1000 shares at 320p.
Retail investors have been taking flight and for good reason. The markets have been propped up through quantitative easing (printing bullshit money). The givernments of the west have been chasing cheques they can't pay.
Another bloodbath on the markets today, shorts are having a field day. Luckily the only postion I have is BP, of which I bought 1000 shares at 320p.
Retail investors have been taking flight and for good reason. The markets have been propped up through quantitative easing (printing bullshit money). The givernments of the west have been chasing cheques they can't pay.
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