Tag: PACF:GLD

Think It's Time To Get Back Into Gold? Think Again

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By: Adam Fischbaum of Street Authority

I love James Bond flicks, preferably from the Sean Connery era. "Goldfinger" is one of my favorites. I am often reminded by the classic scene in which a captive James Bond is seconds away from being charred by a laser.

James Bond: "Do you expect me to talk?"

Goldfinger: "No, Mr. Bond -- I expect you to die!"

Quintessential 007: Ridiculous stunts and jams, sports cars, beautiful women and a dastardly, almost clownish villain -- in this case, one whose plan was to poison the U.S. gold supply at Fort Knox to create global financial chaos. His endgame? Simply to drive up the value of his own gold holdings. Continue reading "Think It's Time To Get Back Into Gold? Think Again" →

Will Gold Fall Further?

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By: Street Authority

Imagine a bullet fired at the sky.

It climbs higher and higher until gravity overcomes its upward momentum. The bullet begins to fall.

Now, imagine small wings on the bullet that flap while it is falling. The wings are just enough to create a series of slight upswings while on the downward trajectory.

Known as "bear flags," this wavelike cycle recurs until the momentum ends and the bullet drops to the ground. Bear flags are thought to signal additional downward moves to come.

This is exactly what has happened with the price of gold since it hit its high near $1,900 per ounce in August 2011. More recently, this action has been exaggerated, with gold trending downward since striking highs in the $1,800 range back in October. Continue reading "Will Gold Fall Further?" →