Anyone here thinking it’s set up for a big fall??? Zales is closing 30 stores country wide. I was at the mall yesterday and every store there was running some huge sale. Jewlry is the first thing to go when consumption falls off like it’s doing now. Maybe time to short a gold fund.
They briefly touched on the subject on the news this morning saying that this would be an absolutely terrible time to go long in gold with prices this high considering how quickly they got there. I would think in a market that is being labled as in a recession, jewelry sales would take a strong early hit. Shorting may pay off big time.
I used to fish a little, but a little wouldn’t do it, so a little got more and more
14’ of aluminum bolted to 15 horses!
With the dollar in freefall and this administration continuing to fumble the economy ball the speculators are turning to gold and commodities as a hedge against inflation. Just caught a few minutes of the Kudlow & Co crew tonight and most were in agreement that oil, regardless of actual market conditions (supply/demand) could approach $150 bbl and that gold will go to $1500 - 2000.
Earlier today the Opec folks decided to hold production at current levels. Their reasoning:
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Supplies are adequate. The U.S. inventory has, in fact, been climbing for the last several weeks.
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The problems in the U.S. are due to mismanagement by the current administration.
Another item of interest today was the announcement that gasoline inventories in the U.S. are currently at high levels. Did the price go down? No. Here to, the speculators are active, driving the prices higher.
I was never a big fan of gold, but its goin down.
Reel-Man
Isnt it a little scary that what a docter does is called “Practice”