villain_the_foe Posted August 9, 2011 Share Posted August 9, 2011 The FED is having their reserve board meeting tomorrow Aug. 9th. The Markets have been getting beat to death as of late and gold has been running a muck. Could the FED announce QE3 or some variant thereof? One thing I've learned being in precious metals. Every time (and I do mean every time) Ben Bernanke speaks on the economy the metals go up. Prepare for another wild and crazy day tomorrow ladies and gents. Discuss. Link to comment Share on other sites More sharing options...
serphnx Posted August 9, 2011 Share Posted August 9, 2011 The FED is having their reserve board meeting tomorrow Aug. 9th. The Markets have been getting beat to death as of late and gold has been running a muck. Could the FED announce QE3 or some variant thereof? One thing I've learned being in precious metals. Every time (and I do mean every time) Ben Bernanke speaks on the economy the metals go up. Prepare for another wild and crazy day tomorrow ladies and gents. Discuss. I expect it, but it's hard to know how the market will react these days. For the most part it seems to like going down, but futures seem to have stabilized a bit so we may have reached an actual support that will keep for a bit. In that case, we will get at least a small up move. Gold is a safe hedge and is still moving up a solid amount even now. I think Gold is a better bet than treasuries, I actually think treasuries are an absolute short right now. Link to comment Share on other sites More sharing options...
villain_the_foe Posted August 9, 2011 Author Share Posted August 9, 2011 I expect it, but it's hard to know how the market will react these days. For the most part it seems to like going down, but futures seem to have stabilized a bit so we may have reached an actual support that will keep for a bit. In that case, we will get at least a small up move. Gold is a safe hedge and is still moving up a solid amount even now. I think Gold is a better bet than treasuries, I actually think treasuries are an absolute short right now. You're right. As fast as a drop happens is as fast as it can stop. Our announcement from the FED tomorrow could tell alot, especially if we hear word on QE3, and if we do I expect another downturn in the markets and for Gold to hit $1,800. Gold by the way has jump $100 in alittle over 24 hours. Im not sure but I think this is the first time during this bull run that such a break out has occurred. Gold is simply going ape sh*t right now. It has dropped $30 because now its back to $1,740 when it was at $1,770 not too long ago. A little over a month ago Gold was at $1,480. Gold has been going ape sh*t for over a month. Link to comment Share on other sites More sharing options...
Jetlag Posted August 9, 2011 Share Posted August 9, 2011 You're right. As fast as a drop happens is as fast as it can stop. Our announcement from the FED tomorrow could tell alot, especially if we hear word on QE3, and if we do I expect another downturn in the markets and for Gold to hit $1,800. Gold by the way has jump $100 in alittle over 24 hours. Im not sure but I think this is the first time during this bull run that such a break out has occurred. Gold is simply going ape sh*t right now. It has dropped $30 because now its back to $1,740 when it was at $1,770 not too long ago. A little over a month ago Gold was at $1,480. Gold has been going ape sh*t for over a month. Not that I'm worried but I'm curious as to why silver hasn't stayed on it's tail, I mean other than them manipulating the sh*t out of it. Link to comment Share on other sites More sharing options...
JerryK Posted August 9, 2011 Share Posted August 9, 2011 Not that I'm worried but I'm curious as to why silver hasn't stayed on it's tail, I mean other than them manipulating the sh*t out of it. Because gold's being pushed up by dumb money getting out of paper. The problem is that gold still only costs about 400/oz to dig out of the ground, making its valuation is as 'fake' as the paper was. I'm happy for people who already hold gold, but I wouldn't get in now. Link to comment Share on other sites More sharing options...
villain_the_foe Posted August 9, 2011 Author Share Posted August 9, 2011 Not that I'm worried but I'm curious as to why silver hasn't stayed on it's tail, I mean other than them manipulating the sh*t out of it. Its to be expected. Gold is the hard international currency. When "big money" exit the markets for a safe haven it'll be Gold. Gold will always take off first, however, Silver will always have the biggest gain because the ratio is always out of wack and need to be adjusted. Gold is a much bigger market. The great thing about it is when the majority of people wake up to whats happening, they'll all try to jump in to gold. Gold will skyrocket, once it becomes too available, they'll look to the next best and most affordable thing. Silver. Trust me, its great that Silver is staying low....especially if you're still adding to your position. Link to comment Share on other sites More sharing options...
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