Gold, Metals, Mining - Eric Townsend (Podcaster, Hedge Fund Manager) Outlook On Gold... - Gold, Metals, Mining - InvestorVillage
Gold, Metals, Mining
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Msg  117 of 185  at  9/20/2019 9:05:05 AM  by

MontyHigh


Eric Townsend (Podcaster, Hedge Fund Manager) Outlook On Gold...

Long term he's extremely bullish as he thinks dollar hegemony as the only real reserve currency is doomed. 
 
Short term he thinks gold is due for a bigger correction and the only thing keeping it above $1500 is that ever week we get some crazy thing. This week it was the attack on Saudi oil infrastructure. He thinks if it weren't for the downward pull of a correction that gold should have jumped on this news. 
 
I don't agree, but we'll see. I think there are big buyers who are trying to get in and are buying whenever gold gets under $1500 and so are supporting the price. In the past this kind of buying has provided good support up until when they have bought all they want. Then there is a big, quick drop. Or, something comes along and makes others want to buy above the support line and the price continues up. 
 
We'll see.
 
MontyHigh


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118 Re: Eric Townsend (Podcaster, Hedge Fund Manager) Outlook On Gold... Nothingtoc 1 9/20/2019 3:12:17 PM


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