Recommended gold related readings (If you have the time…) :
Backfire On Corrupted Price Index By Jim Willie CB
Monetary versus Non-Monetary Commodities By Antal Fekete
Tomorrow's Gold: Asia's Age of Discovery by Marc Faber
JSMineSet.com Jim Sinclair’s Commentary
Socionomics: The Science of History and Social Prediction Why do trends in society often change so rapidly and dramatically? - See Video at socionomics.net
1 comment:
You might find this Technical Analysis report on spot gold of value.
http://futures.fxstreet.com/futures/images/graf/mizuho/SpotGold.pdf
By Nicole Elliott
Mizuho Corporate Bank
Email: Nicole.Elliot@mhcb.co.uk
Web: http://www.mizuho-cb.co.uk
She does excellent TA on forex, gold and silver.
"Comment: Having met our $700.00 target rather sooner than we could have hoped for, we feel the market is likely to consolidate for a few months. Allow for big daily swings as momentum and interest in the metal is still very high. Yesterday prices managed to rally strongly from Fibonacci retracement support and the fifty-day moving average, forming a ‘spike low’. This should set off another rally to the $700 area where we shall watch for evidence of topping. Then down again towards $620. While the very long term trend to higher prices is still intact, the sort of moves we are pencilling in will test frayed nerves of novice investors, who may well give up in frustration. Note also that if extreme and sudden US dollar weakness takes hold, then a re-test of the all-time high is likely. For those whose memories do not stretch back as far as ours, please note that Comex gold’s all-time high was $875.00 in February 1980 and spot gold’s $850 In January 1980.
Strategy: Only for aggressive market professionals: attempt longs at $650 but be prepared to add to $610; stop below $570. Cover all longs ahead of $700 and stand aside if possible."
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