[GLD] Day 1317 - Wednesday
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by Rom Paul
Day 1317
*Times shown are Eastern Standard Time (EST) & eRep Time
GOLD
10AM (7:00 eRep) OPEN: $719 | ⇧$89.00 | ⇧14.13%
4PM (13:00 eRep) EVAL.: $746 | ⇧$27.00 | ⇧3.76%
10PM (19:00 eRep) CLOSE: $730 | ⇩$16.00 | ⇩2.14%
Updated 19:01 eRep Time, Day 1317. Reason: Update Chart
4PM (13:00 eRep) Evaluation
Gold opened this morning at just under $720. That's about 14% higher than yesterdays close. We're still seeing some momentum left in the golden stuff this afternoon with another rise to $746, that's another 3.76%. If you bought Gold yesterday post market hours, you're looking at a very solid gain of nearly 18% on your money, and that's IF you sold now. Gold met a little resistance this afternoon from multiple offers of $746 and $747, however , Gold is showing continued support for a run to $800.
My feeling is gold will continue to make a strong day and probably close somewhere north of $765. Remember, the market is still adjusting from the "50% less gold company upgrade special". You can bet a lot of gold was siphoned out of the game.
Therefore, my sentiment is STILL BULLISH
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Comments
Cool. 🙂
Nice but you should base the chart on ERep time not your local time.
@Rice Racer
*added eRep time equivalents
10 AM EST = 7:00 eRep
4 PM EST = 13:00 eRep
10 PM EST = 19:00 eRep
EST FTW!
Nice Benno
Oh so it shows the USD PEG.
P cool.
Gold tracking paper? Subbed.
@Bezaban
PEG?
Hmm, I should've bought some gold yesterday.
@Javamez
You would've been looking at a 15% gain right about now...
v/s
Love this, now I don't have to remember where gold was at! Can you do like a weekly chart too? With daily high, low, average? That would be awesome.
Now, off to sell some gold I bought before the 50% upgrade sale.
Voted, subbed.
@Thedillpickl
Weekly Charts will be added. Daily high/lows require me to f5 the money market all day so as of now that's a no go. Sorry.
To everyone that has shown support... Thank You
v/s
Cool, voted.
Voted and subbed o/
Good article.
Tell me what it means that you are "Bullish".
I'm a lover, not a... um... broker.
@Gnilraps
lol sure, when I refer to my feeling as "bullish" I only mean that I predict the value of gold will continue to rise. If I am feeling "bearish" then I am foreseeing a slump in gold prices.
@Gnilraps
source: wikipedia
A "bull market" is associated with increasing investor confidence, and increased investing in anticipation of future price increases.
A "bear market" is a general decline in the stock market over a period of time. It is a transition from high investor optimism to widespread investor fear and pessimism.
If we all cut lines every 5 mins we can drop it a lot
So if you are bullish, what does that mean I should do? Sell gold or sell usd?
Also, is it ever wise to buy gold or usd from the markets? Seems stupid to me because the price is so much higher.
v+s, always good to see more econ articles
@Gnilraps
I personally have made thousands simply speculating the price of gold. It's not a sure thing, but it will definitely help once I start compiling some more data on gold prices.
Now, as to method, I find it simple and effective to buy gold, wait for my target, then buy USD. It may not be as efficient, as "selling" gold, but its easier to keep track of (IMO).
In a bullish market, I am speculating the price of gold will increase, therefore, it would mean I am suggesting a light purchase of gold in anticipation of a rise in price, or a potential profit.
@Gnilraps
Right now even though we have experienced a little correction down to around $730 here after hours. The fundamentals indicate that we should see higher prices by tomorrows open. As of right this second, prices have hit HARD resistance at $730, struggling to pass this price, yet not decreasing either which is interesting.
Bah, only time will tell. Lets see what tomorrow brings 🙂
graph outlining gold prices? does it get any sweeter than this?