Well, it looks like I am still alive in my bet with that smart fundy analyst guy. Gold has been bouncing around between his 900 and my 850 as it appears we have set a nice range for the barbarous relic. My long term target is north of $2400 with even that being just a number that tries to quantify the 1980 inflation adjusted level. Really, I am one of those who cannot see how the US Dollar nor the system it denominates will even survive. So when I look at gold, I see an anchor to value that can keep investors steady and on solid footing as the tide to the polluted and bankrupt seas drifts out further and further, pulling conventional and unquestioning investors along with it.
I am not convinced the worst is over for gold short term. But I just ordered more of it through BullionVault none the less. Some people trade BullionVault gold because it is so darn easy. But for me, I prefer to just buy whenever I have a few bucks to spare and keep the stuff in Zürich. I actually get proud of Biiwii.com's and the blog's readers when they buy like they have over the last few days after having sat out the majority of the final thrust above $1000. If it's good enough for you it's good enough for me. I do not try to sell you here. If I am bearish I am going to write bearish, commissions be damned. But with BullionVault gold and the miners, I also practice what I preach and 'buy all in and around' these corrections.
Edit (10:49) Adam of INO.com has just produced a new video showing a short term sell signal in gold based on their 'trade triangles'. They are looking for 800, which I think is very doable. But again, it's all short term noise unless you're a trade isn't it?
