LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Is America Headed for a Post-Apocalyptic Currency Collapse?
By: Stefan Gleason, Money Metals Exchange

Why Wall Street's V-Shaped Recovery Cannot End Well
By: Rick Ackerman, Rick's Picks

Currency Update: Dollar Crash Underway
By: Gary Savage

How Quickly Will Bakken Oil Production Decline?? Much Faster than Americans Realize
By: Steve St. Angelo, SRSrocco Report

Precious Metals Update Video: Gold between bollinger bands
By: Ira Epstein

Grinding Higher $ES
By: Ricky Wen

Gold intervention by BIS held steady in March and April as study hints it's done for Fed
By: Robert Lambourne

Covid, Debt and Precious Metals
By: Richard (Rick) Mills, Ahead of the herd

Precious Metals Update Video: Dollar testing supports, supportive for Gold
By: Ira Epstein

Asian Metals Market Update: June-2-2020
By: Chintan Karnani, Insignia Consultants


GoldSeek Web

Why You Should View Gold as 'Garbage'

By: Rick Ackerman, Rick's Picks

 -- Published: Monday, 17 September 2018 | Print  | Disqus

December Gold has trapped bulls with fake rallies two days in a row. It dove even more steeply on Friday, the second day, falling from a 1213.80 peak recorded in the dead of night to an end-of-session low at 1197.80. This kind of price action is bound to discourage bulls, and it could only occur if too many of them are too eager to jump on the futures every time they show a spark of life. Price action has been worse than discouraging, actually, it has been viciously punitive. That's why I will continue to remind you that, in the minds of most investors, gold is garbage. That description may sound harsh, but its purpose is to keep you from thinking that mere hopefulness will suffice to turn gold around. Although there are a dozen good reasons why gold could be considered undervalued at current levels, that doesn’t mean quotes couldn't continue to fall to levels that seem absurd. I doubt nonetheless that they are headed below $1000, but that still leaves $200 of downside to torture the faithful.  We can continue to trade impulsive rallies in the meantime, but only by way of the lesser charts, so that entry risk is very tightly controlled. If you don't subscribe to Rick's Picks, just click here for a free two-week trial. It will give you instant access not only to the chat room, but to actionable 'touts', intraday alerts and impromptu ‘requests’ sessions online.


| Digg This Article
 -- Published: Monday, 17 September 2018 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.