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Old 08-22-2012, 08:59 AM
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Smile Gold Bulls Returning?

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I've been predicting a rise in Bullish sentiment as the Metals seemed to be bottoming around May, but now the big boys are moving back in it would seem. We've already heard Soros and Co have bought, now others are seeing the current prices as support and no longer resistance.


"The break above resistance from $1624 to $1629 is bullish," say technical analysts at bullion bank Scotia Mocatta.

"This area should now provide some support."

This is also pretty interesting in the article.

"In the US meantime, the Republican Party has said it will include language calling for an annual audit of the Federal Reserve as part of its Mitt Romney's presidential campaign.

"Add this to Romney's claim that he would not reappoint [Fed chairman] Bernanke after his current term expires in January 2014 and we can see that a Republican victory could give the market some reasons for concern," says Steve Barrow, head of G10 research at Standard Bank."

What do you guys think?
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Old 08-22-2012, 09:02 AM
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The funny part is that all the people buying up gold and hating Obama will only see their investments rise if Obama wins, and Bernanke's term is renewed.

A Romney (or Gary Johnson, or Ron Paul) win would almost certainly doom any hope of a future QE3, collapsing the speculation of the current gold/silver market. It would be disaster.
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Old 08-22-2012, 11:44 AM
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I buy Gold and Silver to protect some wealth should the S actually hit the fan. I don't sit around hoping it will. Its sad but I expect there are more than a few on this board that hope it comes. I'd be better off "eating the gold and silver" and living a normal life. The lights stay on. Pot holes get filled. etc. etc.
I will vote for Romney not because he was my first....or 4th choice, but because we can't stand another 4 years of what we have now.
So I am one of those people "buying up gold and hating Obamao".

I have life insurance too but its not because I plan to die any time soon.
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Old 08-22-2012, 03:20 PM
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Two days of closing above $1624 would put gold in breakout territory. Since that happened I will go out on a limb and say Gold $1850 by late Nov.

Nobody wants to see the Dollar crumble. I'd much rather be in some good stocks watching America prosper. Gold and Silver are protection assets and it is my job to protect myself and my family.
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Old 08-22-2012, 08:18 PM
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All debt-data is January 1st and gold-price data is based on the monthly average for the month of January:

•2005 US Debt = 7.6T, Gold = $430/oz.
•2006 US Debt = 8.1T, Gold = $520/oz.
•2007 US Debt = 8.7T, Gold = $635/oz.
•2008 US Debt = 10.7T, Gold = $875/oz.
•2009 US Debt = 10.6T, Gold = $855/oz.
•2010 US Debt = 12.3T, Gold = $1,100/oz.
•January 2011 US Debt = 14T, Gold = $1,360/oz.
•June 2011 US Debt = 14.3T, Gold = $1500/oz.
•May 2012 US Debt = 15.6T, Gold = $1650/oz.

See a pattern? got gold?
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Old 08-22-2012, 09:01 PM
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I like the comparison pattern you are revealing here, and yes I see it. I also like the pictures of the gold Peso collection in a sister thread here.
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