Tuesday, July 21, 2015

gold chart and sarcastic commentary

Here's the past 2 days of gold, from Kitco:

So where's the rest of the waterfall drop?

I mean, that sure was some great attack one minute before the Shanghai open on a Japanese holiday, guys, but where's the follow-through? I'm not shocked or awed here.

And why is it that all the Americans could muster is a bit of a dump after 4PM?

Where's the waterfall? Isn't Whitey supposed to be dumping this to $1000? $800? $700?

Or was the Chinese attack just too gaudy for anyone to want to associate with?

Or is everyone already too short?

C'mon guys! B2gold is still too expensive! You can buy it for 2 years of its gold production!

1 comment:

  1. I'm one of the "under 1200" folks in the poll to the right... all three of us, ha. Chinese commodity demand going forward is a downsloping muddle and gold follows general commodity demand, despite all the endless goldbuggery fantasy narration. My longer term thoughts on gold pricing are in the comment section here: http://myownmarketnarrative.blogspot.com/2013/07/yeah-about-that-177000-tons-of-gold.html

    Crystal ball timing is tough but I'd give it a few more years of misery before light appears for gold nuts.