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31/2 hours before market gold down $50.00
Why am i so fixed on gold these days ? it’s a reminder how cautious one must be, when
playing the market, this can also happen to our stocks. Anyway, we have broken through
both support levels & now we look to 1621. All this should be out of our way by September,
which i have been looking forward to & the month, which hopefully, will help us forget
the volatility we are experiencing now. Even today, gold can turn to the positive & if
i may, i will quote Doris Day once again, ”the future is not ours’ to see”. Have a
good day. R !
Comment by Bert — August 25, 2011 @ 2:21 am
Bert, relax……….this is a classic buying opportunity…….look for a reversal in Gold possibly today or tomorrow…..
a 10% correction was in the cards as we suggested Monday, so Gold is behaving quite as it should………the worst-case scenario on the downside in our view is a dip to just above 1600 but that’s not going to happen right now…..John’s 1728 support is going to hold on a closing basis…………….I’m buying producers this morning, and on the spec side I’m looking at a few things as I believe the Venture is set to rally…….I’m convinced VGD has hit something more at Wasa Creek, they wouldn’t start showing drill core for nothing……that’s a signal to the market if I ever saw one…..excellent results from Kaminak and Currie Rose is looking good too…..
Comment by Jon - BMR — August 25, 2011 @ 4:18 am
Jon
I thought your chart on Bert would show that i am relaxed. I am only a reporter & as
all good reporters do, am reporting what i see, in a kind of dramatic fashion. I like
to talk, talk & talk & gold has given me an opportunity to vent… Relax Jon, your buddy
Bert also sees it as a buying opportunity, that is if i had Jon’s money. Anyway, it is
my intention, not to allow this site to shut down due to lack of comments. Full speed
ahead Bert & while your at it relax, because Jon states that 1728 closing support level will
hold, although his buddy John stated, a full retracement would be to the 1621 level. Gold
now down $23.00, we are coming back !!! The vultures have done a great job, hyped the price
of gold up, with comments similar to an auctioneer, do i hear gold going to 1k, 2k, even 5k.
They then grab their profits & ready themselves to start playing the game their way, all over
again. God bless the lowly folks, who don’t have a lot of cash, thus has not, nor will ever be
influenced by the root of all evil, money, that is if used the wrong way. Have a good day Jon ! R !
Comment by Bert — August 25, 2011 @ 5:06 am
I notice the Dow futures have really turned up after Warren
Buffett, Berkshire Hathaway announced he is investing $5 billion
dollars in the Bank of America. R !
Comment by Bert — August 25, 2011 @ 5:16 am
I presume you guys saw the news on GBB’s Castle Mine. What are your thoughts?
Comment by P — August 25, 2011 @ 6:17 am
Yes, encouraging signs but lots of work to do at Castle. It’s a good asset for GBB but will take time to develop.
Comment by Jon - BMR — August 25, 2011 @ 6:41 am
Nice upward momentum on the gold producers. When do you think the venture gold companies will attract some attention? First week of Sep?
Comment by Scotty C — August 25, 2011 @ 6:53 am
I believe so…….a real “sweet spot” this morning to take advantage of with the producers, and I personally took the opportunity to add to my RIC position at $8.58 as it found strong support between $8.40 and $8.60 as expected……..
My gut feeling is that we’re going to see a rally in equities which should spill over into the Venture……in fact, we could be looking at quite an explosive move…..VGD is looking very bullish, CUI as well………
Comment by Jon - BMR — August 25, 2011 @ 8:30 am