I just got a call from my friend Marc, my favorite gold bug. If we already can get in again, because gold is going to 2500 USD/oz. And sooner or later he will be right. But not necessarily now.
I think it’s a good thing to have an eye on the following:
* Gold ran away from other precious metals. Silver, platinum or palladium, you name it.
* Mining shares went up, but in a much lesser extent than the price of the metal. And with the first correction of the price of the metal, the shares of these companies went down too.
So whoever wants to build positions again, I only can tell you, be careful and stick with your discipline, whatever system you’re using to base your decisions on.
We stick with our renko system and prefer to wait.
I think it’s a good thing to have an eye on the following:
* Gold ran away from other precious metals. Silver, platinum or palladium, you name it.
* Mining shares went up, but in a much lesser extent than the price of the metal. And with the first correction of the price of the metal, the shares of these companies went down too.
So whoever wants to build positions again, I only can tell you, be careful and stick with your discipline, whatever system you’re using to base your decisions on.
We stick with our renko system and prefer to wait.
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