Sunday, August 9, 2009

Gold too ready to fall---or crash is a better word?


Again...contrary to general perception, I have been bearish in gold for the past few months.
Although Gold has not fallen much, it has not crossed previous tops either, and now, I feel it is time for someone to blink.
Attached is a longish term chart of gold in $.
My view is --- a break below $ 925..will take it all the way to $ 600or lower !! That should be below Rs. 10000, since this will fall more --- INR too going for 43-44, in my opinion.
All those husbands whose wives are pestering them to buy gold, since the local jeweller says it will go to Rs 20000......please follow this chart. Tell them, you can buy 50% more quantity near Rs. 10000. :P
Any takers for this view?

1 comment:

rao said...

me taking the post