posted on Mar, 21 2011 @ 09:25 AM
Lol..sell-off in gold. Nope, not today. Gold is up 12 or 13 dollars, and I'd say we'll see 1480 to 1550 before we see any minor, healthy
Fibonacci, Elliot, tea leaves what have you - they all do a great injustice when it comes to metals, and that is they completely ignore fundamentals
and the big picture. If anyone was to follow Prechter and his gobbledegook scam of Elliot waves when it comes to gold, they'd be in the poor house
now and would have lost the shirt off their back.He's been persistently wrong over the years, but still bleats on trying to up his subscription.
No offense OP, but ignoring the reasons why gold is where it's at, with all the QE and systemic dysfunction in the monetary system, won't do you any
Buy and hold the physical is the safest bet these days - not trying to time markets and waiting for minor, flash dips.
Gold can rise in tandem with the USD, rise in tandem with stocks, and fall against a rise in oil. Correlations are no guarantee either. Anyway, not
having a go at you, just saying fundamentals beats charts in my opinion.