Broad Oak: your emotional support animal

Wednesday, September 17, 2008

Gold pogoes up

Oh, look (14:49), gold's sprung upwards (see sidebar widget) - nudging $800.

UPDATE: ... or rather, $838 (17:50).

An 11% gain since I flagged it up 6 days ago. But when should the short-term speculator sell? $850?

And in the comments to the same piece I said I was wondering what was holding stocks up. Now I know - nothing much. But there'll be a bear market rally shortly, doubtless.

7 comments:

John East said...

Twice in the last week I've seen bull comemtators taunting goldbugs by asking, "Where are the $50 gold updays you promised when the financial tsunami strikes?"

As of now (15:40 hrs) we've just achieved this.

Amazing.

NMMM.NU said...

Could it be because of SEC:

http://nmmmnu.blogspot.com/2008/09/gold-800-again.html

Nick Drew said...

you called it right a week or so back, Sackers

this is starting to restore my faith in the 'hedge-against-bad-news' thesis

which, since I anticipate quite a lot of bad news ...

IMHO, IMHO !

pej said...

It's at 842 now.

AntiCitizenOne said...

> I was wondering what was holding stocks up.

Probably just Future expectations of inflation!

SACKERSON said...

Quite possibly, ACO. Looks like the General Theory of Relativity applies to stores of value, also.

NMMM.NU said...

>>> Future expectations of inflation

Man, you began to speak like FED

:D :D :D