RE: The only thing to fear is fear itselfNo problem, bobby777. Here's a posting from JS today, a recovery day after a week of senseless selling of PMs... I hope those who ran for the exits have revisited exactly why there are in gold and silver in the first place. Luck to all!
Some degree of sanity returned to the PM and base metals markets today.
China is not about to implode.
Nothing is fixed in the triple deficits.
The TIC is still in deep trouble.
The Formula is forming perfectly.
Fear is a difficult fellow but MUST be stared down wherever it exists. The item you run from will consume you. What you face you conquer.
April gold traded down to $435.50 last night and is trading right now at $648.30, up$9.00 but from the low actually up $14.20.
The reasons why gold was sold bordered on total foolishness, and that is being merciful.
Gold is headed to all the Angels with the defined exception of Angel number one.
Gold will now try the platform from the bottom, fight and then conquer it sending it again to the $692.60 intra-day high. A close above that which will in time occur takes gold to its next target at $761.
Please, if you closed your positions at or near the lows, which is common, kiss gold off. Such emotional reaction will only break you in time. If you want to be in gold try bullion coins and let the rest go. Please.
Those of you crucified on the cross of debt simply vow never to use margin again- ever. To do otherwise is simply a financial death wish.