bitbigt

Its in the air... can't you smell it?

Golds sentiment has changed. It has gone from being something that everyone felt (or even 'KNEW') was falling and ought to fall (while moving from 1000 to 850) to something that many people now feel may well have had its bottom. Its a self-fulfilling prophecy. The TRUTH Value has risen, and so will golds price

...can you smell it now?

If you can, so can everyone else, and that's why the TRUTH Value is moving on upwards.

Yipee!

I'll consider myself told!

Don't listen to the gold bulls (some of them are obsessive) ...just listen to the sound logic of their arguments!

...an important distinction

I think I'm losing my faith...

Not now please. You've survived the hard part!!!

We're now in a period of '2 steps forward and 1.5 steps back', before it transitions to '2 steps forward and another 3 steps forward' later this year (August/September and onwards).

But this '2 steps forward and 1.5 steps back' is so much better than the '1 step forward and 3 steps back' we had while we were trending downwards.

Is it all about money supply in the long run? It certainly is for the price of oil...

http://www.moneyweek.com/uploaded/images/0410.e.jpg

No I'm not convinced at all. We were due a bounce and got one, but it was all a bit weak in my book and far too much of it happened outside NY hours. That gap is just too big and too obvious to have been missed by the shorts, they will attempt to fill it and I'd say the smarter players were just sat on the sidelines today waiting for a rally to create a short entry point. I certainly wouldn't be going long now from a trader's perspective (accumulators can follow a different set of rules).

Yee of little faith!

Its in the air... can't you smell it?

Golds sentiment has changed. It has gone from being something that everyone felt (or even 'KNEW') was falling and ought to fall (while moving from 1000 to 850) to something that many people now feel may well have had its bottom. Its a self-fulfilling prophecy. The TRUTH Value has risen, and so will golds price

5 more days at this rate of ascent and we'll be back at 1000. Now of course that won't happen in just the next week, but the bottom is in so long as the economic signposts out there keep getting worse. And not so long from now (a month or so) the dollar's mini-rally against the Euro will run out of steam, so pushing the TRUTH Value back up to 1000 or more.

Lots of negative news out there at the moment.

Indeed! ...and consequentially the 'TRUTH Value' is shooting up, pulling the gold price along for the ride :-)