Target 550?
It seems that each time I leave for a while, gold jumps upward. Maybe I should take more trips to help the cause.
Looking back at the price history for the last months up to about two years ago. Gold traded at a high of about $300, then $350, then $400, and now it has broken through $500 in a heart beat. During each of the periods, it corrected back some, but very seldom through the lower maximum. The central bankers seem to have had a significant impact on this price movement. They would talk it down with threats to sell gold and actually sold some at various times. Each of these devices impacted negatively on the price of gold for a time. However, at each step upward the bankers seemed to back off and allow the price to reach the next level. What is their new target?
I would suggest that there is a target of $550. In my mind this is nothing more than a guess. Hopefully, an educated guess. This target seems reasonable, because of the way the price rushed through $500. If my guess is accurate, the following target could be $650. What would you think of that price?
At the same time, we are seeing the mining stocks react rather slowly behind the price of gold. There is still a lack of interest in mining stocks even with gold above $500 (to $536 up almost $10 today). What price will cause the late comers to gold to join in the party?
My trading stock DRD Gold (DROOY) is up nicely to the high for the day >> $1.47. You might consider it on dips, if there are any. The recent trading range has been from about $1.31 to $1.48. I will buy more at near $1.31, but am not, presently, selling at $1.47.
Remember, you are the one most interested in your financial success. Study, learn, and plan. Then commit the plans to the Lord and move out smartly depending upon Him for the success or redirection.
We, Christians should rejoice at the impact Christ has had on Christmas. Whether others realize it or not, King Jesus is the reason for this joyous season. What an impact He has had!
Don't buy a "Holiday Tree". Buy a "Christmas Tree". Of course, my Christmas Tree is artificial. My children would prefer a dying tree (cut tree), but they are a bit too much trouble for me.
Best to each, Doug
Looking back at the price history for the last months up to about two years ago. Gold traded at a high of about $300, then $350, then $400, and now it has broken through $500 in a heart beat. During each of the periods, it corrected back some, but very seldom through the lower maximum. The central bankers seem to have had a significant impact on this price movement. They would talk it down with threats to sell gold and actually sold some at various times. Each of these devices impacted negatively on the price of gold for a time. However, at each step upward the bankers seemed to back off and allow the price to reach the next level. What is their new target?
I would suggest that there is a target of $550. In my mind this is nothing more than a guess. Hopefully, an educated guess. This target seems reasonable, because of the way the price rushed through $500. If my guess is accurate, the following target could be $650. What would you think of that price?
At the same time, we are seeing the mining stocks react rather slowly behind the price of gold. There is still a lack of interest in mining stocks even with gold above $500 (to $536 up almost $10 today). What price will cause the late comers to gold to join in the party?
My trading stock DRD Gold (DROOY) is up nicely to the high for the day >> $1.47. You might consider it on dips, if there are any. The recent trading range has been from about $1.31 to $1.48. I will buy more at near $1.31, but am not, presently, selling at $1.47.
Remember, you are the one most interested in your financial success. Study, learn, and plan. Then commit the plans to the Lord and move out smartly depending upon Him for the success or redirection.
We, Christians should rejoice at the impact Christ has had on Christmas. Whether others realize it or not, King Jesus is the reason for this joyous season. What an impact He has had!
Don't buy a "Holiday Tree". Buy a "Christmas Tree". Of course, my Christmas Tree is artificial. My children would prefer a dying tree (cut tree), but they are a bit too much trouble for me.
Best to each, Doug
posted by Doug @ 10:57 AM
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