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Gold gains 1.1% to $1,590 after touching a 7-month low last week amid growing indications...
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Monday, February 25, 12:41 PM ETGold gains 1.1% to $1,590 after touching a 7-month low last week amid growing indications of at least short-term capitulation. Another one: Net long positions for the week ended Feb. 19 were slashed by 36% to the lowest level since November 2008, according to Commerzbank, which notes the metal has slid more since the 19th, meaning speculative longs have likely declined even further. GLD +0.6%, SLV +0.9%.
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Meanwhile, conventional wisdom no longer appears to bear much of a relation to the current price of gold. Instead, GLD as a commodity now seems to run on hormones, just like a regular everyday stock and with every bit as much reliability.
The movement makes no sense otherwise. It should be tanking with the market if it was trading as a commodity. See copper.
Interesting, no?
I think the central banks have shot themselves in their feet.
CHF is pegged to the Euro so it's no longer a safe haven, the BoJ is promising to destroy the JPY and the USD has 85 billion a month (for ever apparently) being pumped into bonds and mbs...
So where do you go now when the S is HTF?
I guess that G20 agreement isn't working out so well is it??
But Sheeple will be sheeple..
Seriously, Germany wants their gold back and it will take 8 years?
How much more of a warning do people need>>>