RE: RE: Oversold, Again and Again!!!!!!!!!!! "Dont expect a recovery until at least the spring..."
Whereas I think most here would agree that is the expectation, I would not rule out a bounce by year end. With elections now concluded in the States, some interesting things are starting to happen to PM prices. As the old saying goes, a rising tide lifts all ships. In addition, lets not forget that GSR is traded in the States as well. Going forward, GSR may see less tax selling as the year draws to a close that can bolster prices in the short term. Since I live in the States, I have already concluded tax wise that I would be better off if I record a tax loss early next year and carry that recorded loss against any potential gains in 2013. Without a doubt, the capital gains tax will be raised along with dividend taxes. That said, I'm anticipating a major stock market sell off as investors conclude it is better to lock in capital gains now at current lower rates. Money, meanwhile, has to go somewhere and that looks to be Gold ETF's that will lend some added thrust to higher gold prices.
Gold is going higher and there is a greater risk today of a buying frenzy into anything gold than there has been since the late 70's/early 80's. Back then, there was this penny stocl called Liquid Gold that went from 45 cents to $7.00 per share on a frenzy to buy anything gold. Had anyone at the time did a little D&D, they would have discovered that Liquid Gold was a furniture polish maker. But because there was gold in the name, investors bought with a vengence. That said, what is the name of this little Company?