hisah wrote:
I have been silently watching gold and silver corrections as the USD goes on a rampage. And I'm impressed by the way they have held onto their own as stocks and commodities esp oil got a major hammering. This means gold and silver are being accumulated during this period. Silver has been in a correction for 13 months now and almost 50% retraced from the $50 highs. I'm planing to buy large positions going forward. My gold target for the year is $2500. Looks unbelievable, but some interesting events are looming in the horizon for the fiat currency system due to the USD complex...
I expect gold and silver to rally in the next 2 years like crazy and this is not based on TA but fundies.
hisah wrote:
Their is strong support at $1500 - $1540 level. Two asian central banks got in at that zone. I want to see if the shake out can test again $1520 and then the bids take over. It will be very hard to tear beyond $1480 with china and asia on the bid side. The asians have been buying record amounts on every price dip opportunity.
But I prefer silver which has now leaked below $27. If it can test $24.50 - $25 the better for a buy grab.[/color]
Just reviewing previous posts on spot gold. Interesting predictions we go here, support at $1540 held and we are gradually gaining. If euro retaces/bottoms out, that is an indication of risk appetite and the rhetoric of tommorrow fomc minutes hints on possibilities of Q/E then gold will rally. Short term target around $1650.
“small step for man”