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Thread: April 16 gold price

  1. #1
    In early trading for April 16, gold prices have moved back up to near $1380 an ounce. While the liquidation of gold will continue it is not unreasonable to think that the sell-off of Friday and Monday were "overdone" and now gold will have a bounce before selling will resume.

    There will be some optimists who will try to do some bargain basement shopping, but we won't know for several weeks if indeed $1340 an ounce was the basement for gold.

    Further declines are still possible. But so is a bounce back to $1400 or even higher in the next few days. This might be called a dead cat bounce. The expression comes from the horrid thought that if a cat fell from the top of a skyscraper it would bounce after hitting the sidewalk. (Sorry if that offends anybody.)

    I would approach the market with caution. I also wouldn't do any buying, and if you thought about selling, I would sell on any short term rally because those rally's might turn out to be a false or fake-out rally or a suckers rally.

  2. #2
    Originally Posted by preet72787 View Post
    some see it as a fire hose flying around that you can't control.
    That is an excellent analogy. And when you have this type of volatility there is an opportunity fast trading profits, but also the danger of quick losses.

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