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Donatella I think Gold tests its last highs.”1250″ . I am expecting it do go down from there on.. Well at least that is what I hope.. My charts have not signaled that though….If we fail to make new highs than I will be shorting it.. At one point I think the US stock market may become a safe haven.. These are just hunches I have…
Popping in for a minute….
Hoboken, I was reading up on gold market fundamentals yesterday….. confirmed my view that gold is not a buy at current price.
I think the law of unintended consequences will take over as soon as people start trying to monetize their gold in a crisis. The flood of supply will just drive down price. OK it’s a commodity so it’s theoretically a good hedge against inflation but guess what – EVERYONE ELSE thought of the same thing. Much smarter to hedge with a commodity that the rest of the world isn’t hedging with.
Of course it’s all about the currency you are quoting in and the currency you are selling into when you try to monetize…. but I’m pretty damn sure USD is what people will monetize their gold into, esp if there is a big Euro meltdown (hello), so it’s the price of gold in USD that matters and all the supply can wreck your inflation hedge.
I’m not just pulling this out of thin air. Guess what happened to gold prices during the 1998 crisis — they plummeted b/c all of the asians started trying to monetize the gold jewlery that acts as their hard savings. All the supply sent prices down.
I really really really need to see the British Pound tank by August…. that would make me VERY happy.
“The EU was a poor idea from the beginning. It will probably recover from the current crisis, but will eventually devolve into multi-cultural chaos.
Ironically, the US$ regains its place as the currency of choice.”
You best be prepared for some severe ass reaming from the What. He was all over the end of the dollar, no country buying US treasuries, blah, blah, blah in 2008 and again in 2009.
Guess that hasn’t really worked out.
bxgrl: that is inappropriate and sexist.
Hoboken, Hola. It’s new highs in Gold since the fall.
What’s happening is that the European mess has depressed the Euro (again) and has rallied the dollar. This was a cold shower on most of the CRB — oil seems to have more of an effect ON the dollar but the dollar is a key driver for industrial metals, grains, softs, most commodities EXCEPT gold these days. Gold is the fear barometer (no I am not channeling the WHAT) which is currency neutral. People are buying gold to hedge portfolios and the retail world (through physical purchases AND Etfs like GLD) are buying physical gold as a hedge. Today it finally broke out. Got to get BACK TO WORK.
The EU was a poor idea from the beginning. It will probably recover from the current crisis, but will eventually devolve into multi-cultural chaos.
Ironically, the US$ regains its place as the currency of choice.
No dave- the What is a 5 year old having a tantrum in the playground. Definitely not a real man- or a woman. Just a little dick pissing in the wind.
I used to use Prospect Drugs even after i moved to Bed-Stuy. But once they got their fancy computer system for prescriptions, they were no longer a bargain and their other stuff, although still cheap, isn’t so much of a bargain. Since I pay for prescriptions, I now go to the pharmacy in the medical center on Nostrand and Dekalb. For otc and other drugstore stuff, I hit the little pharmacies on 37th Ave. in Jackson heights where I work.