Beldin:
Re: “Yeah, thinkin' it's time to buy some more. ”
I understand. I'll caution you, however, that gold has fallen beneath major support and it's next solid support is WAAAAAY down below - like at $600/oz.
I always take TA, especially my own, with a grain of salt. I mean, just look at my signature line! But TA has enabled me to make a number of really good calls on a number of occasions and I don't think TA supports buying gold at this time.
IMO, the U.S. economy is going to outperform as the President's awesome tax cuts give the economy the much-needed boost that Obama deprived it of. When folks feel good about the American economy, they sell their PM. Let's see if that happens. If it does, it'll drive the price lower. Maybe not all the way to $600, but lower.
In the long run, of course, nothing has changed. The U.S. and most of the rest of the world is screwed and gold is going to the moon.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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