IMO, it is a good time to buy. Granted, 2000 was the best time to get in, but no one here has a Delorean with a Flux Capacitor, so let's talk about the present.
If we look at the last 60 days, one can easily see the peak we just experienced, and then the correcting of that peak. It seems to be back on the rise.
So you either buy now at 1133, or later at 1150. Also look at Silver.
The gold price has formed an uptrend over the past three days. Now that support at $1,130 has become very important, and gold is aiming at resistance $1,155 - $1,160. Needed are good solid days of advancing, $ 5 - 10 a day, bulling through all resistance. A second failure at $1,160 would be bad news.
The silver price pushed up another 10.5 cents today, and needs only another 30 cents to clear its last high. Do y'all remember last year? Silver and gold prices made lows in mid January, and 40 days later were at 1st Half 2009 highs. They can move very fast.
Results for last year now in, 31 Dec 2008 to 31 December 2009: S&P500 up 23.5%, Dow up 18.8%, Gold price up 20.8%, silver price up 35.6%, platinum price up 56.9%, palladium price up 118.4%, and US $ index down 5.2%.
Since gold's bull market began in 2001, the gold price has risen from $278.70 (31 Dec basis) to $1,095.20, up 293%. Silver has climbed from $4.579 to $16.822, up 267.4%. But cheating a bit and counting silver's big gains since 31 Dec 2009, it has risen 308%. Meanwhile, back on Wall Street, the Dow in Gold Dollars, which measures the performance of stocks by gold, has dropped 76% since stocks bear market began in 2000. At end 2000 you needed 39.657 troy ounces of gold to buy the whole Dow; today you need only 9.521.
If we look at the last 60 days, one can easily see the peak we just experienced, and then the correcting of that peak. It seems to be back on the rise.
So you either buy now at 1133, or later at 1150. Also look at Silver.
The gold price has formed an uptrend over the past three days. Now that support at $1,130 has become very important, and gold is aiming at resistance $1,155 - $1,160. Needed are good solid days of advancing, $ 5 - 10 a day, bulling through all resistance. A second failure at $1,160 would be bad news.
The silver price pushed up another 10.5 cents today, and needs only another 30 cents to clear its last high. Do y'all remember last year? Silver and gold prices made lows in mid January, and 40 days later were at 1st Half 2009 highs. They can move very fast.
Results for last year now in, 31 Dec 2008 to 31 December 2009: S&P500 up 23.5%, Dow up 18.8%, Gold price up 20.8%, silver price up 35.6%, platinum price up 56.9%, palladium price up 118.4%, and US $ index down 5.2%.
Since gold's bull market began in 2001, the gold price has risen from $278.70 (31 Dec basis) to $1,095.20, up 293%. Silver has climbed from $4.579 to $16.822, up 267.4%. But cheating a bit and counting silver's big gains since 31 Dec 2009, it has risen 308%. Meanwhile, back on Wall Street, the Dow in Gold Dollars, which measures the performance of stocks by gold, has dropped 76% since stocks bear market began in 2000. At end 2000 you needed 39.657 troy ounces of gold to buy the whole Dow; today you need only 9.521.
