May 31, 2011: Trader Rog and Big Al discuss how futures trading patterns are signalling a positive move for gold in August.
r. Wiegand is the Editor and Publisher of Trader Tracks a Stocks, Futures and Commodities electronic newsletter publication for active traders. In addition, Roger writes a weekly column, "Rog's Corner," For J Taylor's Gold and Technology Stocks Newsletter.
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Anyone who tries to predict where asset prices will go is foolish. The only edge anyone has, is recognizing that an asset is moving in a direction and it has been historically wise to trade in the direction of that momentum.
prodigee411 5 months ago
QE2 to continue by another name. They have no choice. Last year gold did not bottom in August, try early July. If the Fed raises rates it will further devastate housing and construction, not to mention other biz. It will also cost the Treasury a lot of money, i.e., more deficit. The Obama regime will not like that and object. In the 1970s rising interest rates did not stop gold from going up several multiples. The real interest rate is way negative. It would take very high rates to halt advance.
alizaderic 8 months ago
@hstone39
Don't get fooled by deluded gold bugs. Gold might hit $1600 but that is about it for 2011.
We know this because gold will likely fail to hit $1600 in the current "rally" as the commodities complex is collapsing while QE2 ends, the dollar strengthens and we approach the seasonal bottom for gold (August).
Then we know that the Fed will begin tightening monetary policy this fall and perhaps raising interest rates as early as October.
bofors7715 9 months ago
Gold may hit $2,000 before the end of the year.
hstone39 9 months ago