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Title: Report - GOLD is bleeding -- Going into NY Close 11-20 Post by: BitcoinTraderFX on November 20, 2013, 08:47:26 PM Gold punched through the lower Fibonacci numbers like it didn't care. Hopefully the flight from gold will mean some of that cash moves into bitcoin buoying the market.
After NY closes, there will be a quiet period of a couple hours before the Aussies and Asia wake up and start playing with bitcoin. Money has been leaving gold, let's see if it goes into bitcoin in asia. http://www.bitcoincrystalballtrader.com/FlashGold1119NYClose.png Title: Re: Report - GOLD is bleeding -- Going into NY Close 11-20 Post by: chmod755 on November 20, 2013, 09:25:44 PM What's your definition of a 'Long Term Trend'?
1-3 days is not a 'Long Term Trend'. Title: Re: Report - GOLD is bleeding -- Going into NY Close 11-20 Post by: BitchicksHusband on November 21, 2013, 12:53:42 AM Pfft. That's not even an order of magnitude. Gold doesn't know how to crash like bitcoin. :)
Title: Re: Report - GOLD is bleeding -- Going into NY Close 11-20 Post by: lindatess on November 21, 2013, 11:00:18 AM Funds are going back to cash and prices are being bid down. Remember the money supply is going to be reduced soon. Cash will soon be more valuable. USD is rising against many currencies.
Why? Tapering. There will be less dollars around and interest rates will rise. This will drive all asset prices down, and may be the trigger for bursting the bubble. Bond yields are already rising in anticipation. Gold is falling, stocks are falling. This is only the start, come December when it actually tapers, we will have bigger rush for the doors. Remember the housing crisis was coming around, everyone could see the starting signs, but then Lehman collapsed and it triggered something big. What was the best thing to hold then? Cash. All other asset classes will be hurt. We don't know what black swan will arise over the horizon, but it has happened many times in the past and will happen again in the due course of nature. Because of tapering, we will be cheering on the central banks for making cash more valuable, rather than criticising them. We will have Max Keiser kissing the boots of Central Banksters for making cash more valuable. ;D |
