My prediction on gold turn out to be true its down 200$ in 3 days

[Syed Haider Imam]

I remember your call. I didnt have a firm conviction on direction of Gold for 2013 because fundamentals had a different story than the technicals. From a chartist's point of view, Gold's Bull run ended in Decemeber of 2011. And then it formed a decent support at $1550.. Every time it has hit $1550, I have bought it. The way I viewed it is that the long term uptrend will continue as there is no good economic news or hopes of it. The money printing will continue, so Gold may flow side ways. But I never expected a total meltdown of prices like this.


Folks, this is what happens when you try to mix fundamentals with Technicals. I just was hesistating to trust the charts. I mean how could Gold go down in a downtrend... This truly is a remarkable learning lesson for me, to say the least.

Next support is somewhere b/w $1327 & $1275..

Honest comments..........This was very deceptive GOLD move. Last two days was horrific once all the stop losses HIT.
It was front running by GS and their clients. Rather advising client to SELL they urged them to SHORT SELL.
GS gas booked 19% losses in Crude Oil.

Most of the time, they were wrong but this time they nailed it.

Lets see how market reacts after Cypres Government GOLD liquidation. It seems, EU will force some other PIIGS country for forced GOLD selling.

Interestingly, Russian got beaten twice. Once when Greece bond holders booked 50-70% losses and now when their accounts have been confiscated.

They will come back after EU..........How..........Time will tell.

 

[aqeel813]

Well.. on a serious note.. you guys are doing good job. Please keep posting your predictions and actual rises or falls in gold prices.. specially keep track of any news or update regarding cyprus gold sell out. It is so big that it will effect the prices very much and that will be the best time to buy it. please do tag me in any such threads..

 

[PkRevolution]

I remember your call. I didnt have a firm conviction on direction of Gold for 2013 because fundamentals had a different story than the technicals. From a chartist's point of view, Gold's Bull run ended in Decemeber of 2011. And then it formed a decent support at $1550.. Every time it has hit $1550, I have bought it. The way I viewed it is that the long term uptrend will continue as there is no good economic news or hopes of it. The money printing will continue, so Gold may flow side ways. But I never expected a total meltdown of prices like this.


Folks, this is what happens when you try to mix fundamentals with Technicals. I just was hesistating to trust the charts. I mean how could Gold go down in a downtrend... This truly is a remarkable learning lesson for me, to say the least.

Next support is somewhere b/w $1327 & $1275..

I can see no chart technically support anymore. I predict a free fall.

 

[AsifAmeer]

I can see no chart technically support anymore. I predict a free fall.

 

[Corrupt]

Folks, this is what happens when you try to mix fundamentals with Technicals. I just was hesistating to trust the charts. I mean how could Gold go down in a downtrend... This truly is a remarkable learning lesson for me, to say the least.

Next support is somewhere b/w $1327 & $1275..

I lost a lot in stocks but my father said you have not lost anything, instead you have learned at a young age... kuch seekha ya na seekha lakin ye zaroor seekha, there is no easy money.

 

[Corrupt]

btw any news on silver, I've heard that there is more fluctuation in silver than in gold.. more margin for capital gain... anyone on this? and from where can i get these trends chart? any website please?

 

[RuleBre@ker]

any prediction about BTC&LTC?:)

 

[mrcritic]

how is gold value related to boston attacks? @AsifAmeer?

 

[AsifAmeer]

"because = most dangerous word" Mandelbrot

Look at the chart with the support line I posted and feel free to make your opinion. But feel free to ask question, if any.

how is gold value related to boston attacks? @AsifAmeer?

 

[biomat]

"because = most dangerous word" Mandelbrot

Look at the chart with the support line I posted and feel free to make your opinion. But feel free to ask question, if any.

Dear Asif
Assalam-o-alaikum
This scares me. Any suggestions for savings...

 

[AsifAmeer]

Wasalaam

About a month ago, someone I know approached me and said that he/she has $40,000 and wants to invest. Was particularly interested in Bitcoin when it was over $150. Here was my suggestion template

Find out your liquidity needs.
Write down the amount you do not need for 3 years
Write down the amount you do not need for 5 years.


Money you dont need for 3 years, suppose $10,000. Buy 1ounce gold every three months.

Money you dont need for 5 years, suppose $5,000. Split that into 50/50. & buy Bitcoin and Silver on a monthly basis for the next 12 months.


Never buy anything in 1 shot. For folks living in Pakistan, I would strongly suggest getting rid of any BOND holds you may have and buy $100 dollar bills and put them under your mattress. Forget return on capital and worry about return of capital

Dear Asif
Assalam-o-alaikum
This scares me. Any suggestions for savings...