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It's over bought and over priced and the bubble will burst.
Carry on.
Where are we today anyway? I dont doubt we will pull back a few times, as it goes upward but the trend will be up until we get spending under control. Do we have spending under control? Nope.
Gold fluctuates with the dollar. Ie, the dollar goes down, gold goes up.
I read that 90+ percent of investors expect the dollar to go down... usually when everyone lines up on side of the issue, it goes the other way.
Now, I dont think Gold is done for good. I think its just overpriced for right now. With the govt cranking out fiat currency by the tons, I think the long term for gold is good.
Gold fluctuates with the dollar. Ie, the dollar goes down, gold goes up.
I read that 90+ percent of investors expect the dollar to go down... usually when everyone lines up on side of the issue, it goes the other way.
Now, I dont think Gold is done for good. I think its just overpriced for right now. With the govt cranking out fiat currency by the tons, I think the long term for gold is good.
A rally is something that happens over a short period of time which I woudl call a month. We've had over a quarter. It can go down at any time. But I think we are past the point of a "rally"
Read about all the nations that are ready to dump the dollar and switch to gold. I'm guessing gold goes through the roof. Wish I had some money to buy some.
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