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Papli
Member since May 2012
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Don't Panic on Metal Tumble

- John Browne - Euro Pacific Capital

John thanks for the post. These days we live in a world where every thing must happen fast and in quick time and accordingly our response and reaction. Gold at $1600 has different connotations for those who picked it up at $1900 and others at $1000 without reference to a hypothetical inflation adjusted figure which gold has never ever got close to. If gold were to dip towards $1400-1200, it may be prudent for those who picked it up at $ 1000 to hang on but for the others a decision to exit may be more appropriate. To succeed you need to be a speculator(not gambler) and not a trader or investor, for a trader's response may be too fast and impulsive and that of an investor too slow and sluggish.

Commented 4583 days ago

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Beginning of the headline : Fall officially began on September 21, but it's not just leaves that are cascading downward.In the few market days of the new season, precious metals prices have seen significant drops, some 11% for gold and 31% for silver.In its lurch downward, gold plowed through support levels at $1,750, $1,700, and $1,645 an ounce... Read More

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