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Gold hasn't been this deep in the buy zone since early 2005 as CFTC data show a massive exit of...

Gold hasn't been this deep in the buy zone since early 2005 as CFTC data show a massive exit of large speculator net long positions. What this says about the long-term trend is a question of debate, but it's probably not the worst short-run indicator. GLD +0.9% premarket, continuing a minor bounce since the metal fell below $1,200/ounce last week.
Comments (13)
  • david roper
    , contributor
    Comments (74) | Send Message
     
    I'm looking for Gold, the metal, to touch 800-900 before taking off again. Silver must rise from its current level to make the ratio tighter than 65 to 1 currently. YMMV.
    9 Jul 2013, 08:54 AM Reply Like
  • Jason Burack
    , contributor
    Comments (1721) | Send Message
     
    That price would bankrupt nearly every primary gold and silver miner on the planet. No joke. There would be very little if any actual metal to buy.
    9 Jul 2013, 12:31 PM Reply Like
  • david roper
    , contributor
    Comments (74) | Send Message
     
    thanks, agree with you. But the market on Wall Street doesn't give a damn about keeping Gold miners in biz, for that matter Post VersaLog Slide Rules, Buggy whip makers, GM, or ATARI either.
    Perhaps I should say "touch 900-1000" since I don;t know any better than anyone else about predicting the future, hence YMMV.
    14 Jul 2013, 09:43 AM Reply Like
  • Investor Talkroom
    , contributor
    Comments (473) | Send Message
     
    Despite some gold bearish news like: lower deficit and fake economic recovery gold price kept firm at this level. Looks like we are at the bottom and beginning of the massive uptrend.
    Keep your eyes on treasury yields: yields going up means trust in US bonds and USD is waning. Investors will yank money out of bonds and sit in cash and stocks for a while. If stocks tumble, and with higher interest rates they will, everyone will run to gold.
    9 Jul 2013, 09:02 AM Reply Like
  • whaddyamean?
    , contributor
    Comments (514) | Send Message
     
    Someone yelled "fire", and the gold bugs rushed for the exits. Now, they realize that the movie is still playing, and they're starting to return to their seats to see how it all turns out.

     

    Innocent bystanders can get trampled as the moviegoers rush in either direction. But, then again, maybe there are no innocent bystanders - after all, what were you doing in that movie theater in the first place?
    9 Jul 2013, 09:11 AM Reply Like
  • denkend
    , contributor
    Comments (79) | Send Message
     
    um I do not know if you know Techs but still bearish for abit more ,probablly 1030-1050 as a real bottom I wouldnt be surprised if it hit 900 before it has a leg up to 2300.The techs tell me on monthly, and weekly its still bearish by a deep difference.
    9 Jul 2013, 09:14 AM Reply Like
  • iluvsimba
    , contributor
    Comments (3) | Send Message
     
    keep waiting!
    9 Jul 2013, 09:19 AM Reply Like
  • denkend
    , contributor
    Comments (79) | Send Message
     
    in relation to who?
    9 Jul 2013, 09:20 AM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2727) | Send Message
     
    CFTC Gold and Silver Bank Participation Report (decide for yourself what the CFTC info really says without the SA editor bias): http://bit.ly/18KIYw7

     

    and

     

    http://bit.ly/18KJ46P

     

    From Bloomberg:

     

    "Gold investors may see better returns in the rest of 2013,
    as gains averaged 1.3 percent in the second half from 1981 to
    2000, when bullion endured a two-decade bear market, data
    compiled by Bloomberg show. First-half losses averaged 3.9
    percent in the period. India’s demand for jewelry is set to pick
    up before the Diwali festival, Catherine Raw, portfolio manager
    of BlackRock World Mining Trust, said in a e-mailed statement
    yesterday. While the holiday begins in November, bullion buying
    usually starts in August, she said."
    9 Jul 2013, 10:57 AM Reply Like
  • denkend
    , contributor
    Comments (79) | Send Message
     
    which is why we will have a real bottom around then, indian and chinese are not dumb to buy as prices go up. they will buy more around 1050
    9 Jul 2013, 01:05 PM Reply Like
  • dutchdawg
    , contributor
    Comments (4) | Send Message
     
    Why are low cost producers being trampled?How can the Fed keep burping out bucks with nothing to back them up?Just asking?
    9 Jul 2013, 12:57 PM Reply Like
  • denkend
    , contributor
    Comments (79) | Send Message
     
    it cant, but regardless of economics , gold follows a pattern just like every trend just like another item , i expect it to hit 1000 or near it as the major resistance for nearly 2-3 years was around 1000-1050 for awhile i see that as a true "bottom" then it doubles from their
    9 Jul 2013, 10:30 PM Reply Like
  • david roper
    , contributor
    Comments (74) | Send Message
     
    you wrote: How can the Fed keep burping out bucks with nothing to back them up? See that little switch over there on the press? Keep it clicked "On" and keep the Green Ink levels full. ...and Uncle Ben strokes your head after a glass of warm milk so you can sleep. There, there, it will be okay. There's nothing to worry about, Dear. Uncle Ben, Bro' Barry, and Uncle Eric have everything under control.
    14 Jul 2013, 09:49 AM Reply Like
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