GOLD

[smhsmichael]

@bchad

A rally after the Fed announcement seems to support the view that gold’s price is being driven these days by the belief that the Fed will or will not be able to unwind QE. News that supports the idea that the Fed will hold off on raising rates pushes the gold price up, and news that the Fed will raise rates pushes it down.

However, looking at the GLD chart, I don’t think the rally marks a substantial break from the trend yet. If GLD gets above $115 and stays there for more than a short time, then there is a technical case for saying that there is a break in the downward trend in gold.

Woah, bchad! Talking technicals! Yes, I agree with your view

[cnon]

Unfortunately not!

[XinChow88]

i think it’s good for up to 5% of your total portfolio but that’s about it

[cnon]

GLD has been accelerating for the last 4-5 days.However,I closed out my position when it was little in the money based on what I read here.I am so unlucky!

[Sweep_the_Leg]

I certainly didn’t see this happening. I actually don’t like days when gold jumps like this (though this is the biggest that I can recall in a few years).

While I still fear a strong dollar, if US interest rates are going to stay low for a while, gold will benefit. Now, if I could just predict interest rates…

As far as what I’m actually doing in my PA, as I’ve stated previously, I’m actively trading SLW. It’s been a productive last 12 months. I’ve bought below $12 each time and each time got out with a minimum 10% gain each time. Unfortunately, I sold my latest position around $13.75 just last week. Didn’t expect this, but I guess I shouldn’t cry over realized gains. Definitely not buying now.

Cash on the sidelines…