Inflation is screaming. All you have to do is look at your life and what it costs. |
It was COMEX options expiration today, so they got gold down near the big strike price at $550. |
It was such a quiet day and there was nothing going on to move this market. |
It would appear that we are at the top of the trading range. |
It's a good sell right now. Could it go higher? Yes. But I would I be happy long-term selling at these prices? Oh Yes. |
It's a huge technical negative to make new highs and fail. It's the funds. All of a sudden they all turn sellers. |
It's the end-of-the-year foolishness time, where you can run it up and run it down $10 on no news. I think it's a sell. But the downside in gold is limited. |
My brokers on the floor work every order I give them. You pick up an extra dime here and there, and it makes a big difference at the end of the year. |
New money is flowing in. It's hard to believe that with the dollar this strong, prices just keep going up. Funds keep buying it. |
People are buying gold because it is now apparent that we are going to see massive inflation. Gold is the best hedge for inflation. |
Seventeen-year highs are impressive, with the bond market showing us that inflation will be returning with a vengeance. |
The fund buying has gotten crazy again; they are taking prices to new highs. |
The funds came right back in, certainly, and today, I think, the correlation with the oil price was very evident. Oil went up to $75 and the metals went along with it. |
The longs seem to be comfortable. |