As Wall Street investment banks continue to retreat from physical commodities, Goldman Sachs (NYSE:GS) has sold its metal-warehouse unit, Metro International Trade Services, to Swiss P-E firm Reuben Brothers. Last month, Goldman also came under political and regulatory pressure to divest the operation amid allegations it had encouraged hoarding supply, inflating metals prices.
http://www.reuters.com/article/2014/12/ ... FW20141222
The Bottom is Nearer...
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- MachineGhost
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The Bottom is Nearer...
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Re: The Bottom is Nearer...
Agreed, these are the signs to look for.
The bottom will be in when there are no articles even being written cause everyone went away and no one cares, total capitulation...
We might be close in the junior gold mining/explorer stocks, I thought we were there last year when things were 50% higher than they are now
The bottom will be in when there are no articles even being written cause everyone went away and no one cares, total capitulation...
We might be close in the junior gold mining/explorer stocks, I thought we were there last year when things were 50% higher than they are now
Re: The Bottom is Nearer...
I thought that the bottom in gold was nearing too until I read Martin Armstrong's new blog predicting that it will fall to $1000/oz or even 600-700!
http://armstrongeconomics.com/2014/12/2 ... sing-2014/
http://armstrongeconomics.com/2014/12/2 ... sing-2014/
Last edited by Reub on Thu Dec 25, 2014 10:12 am, edited 1 time in total.
- MachineGhost
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- Joined: Sat Nov 12, 2011 9:31 am
Re: The Bottom is Nearer...
Looks like we got another Armstrong fan in da houze!Reub wrote: I thought that the bottom in gold was nearing too until I read Martin Armstrong's new blog predicting that it will fall to $1000/oz or even 600-700!
http://armstrongeconomics.com/2014/12/2 ... sing-2014/
He's a bit obtuse here but I think he is saying that we'll have new lows next year but it'll be above $1K unless $1155 is breached by year end. Fat chance.
I have super long-term trendlines that correspond to the $1K and $618 areas.
My gold timing model -- if it does not trigger by end of the month (not likely at this point), it will be in compression for January. So either we tank more or we're bottoming. It'll be interesting to see who is more correct, me or Armstrong. I know who I side with for the benefit of doubt!
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!