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Funds Will Go Under On Gold/Silver Crash: Buy Gold Now?

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April 15, 2013 – Comments (5) | RELATED TICKERS: GLD , NEM , RGLD

While I have predicted a move to $1,200-$1,300 on gold, many hedge funds have been buying this metal constantly. With the leverage these funds utilize, mass losses and redemptions may drive many out of business.

I like gold down here now for a short term bounce. I am in the SPDR Gold Trust (ETF) (NYSEARCA:GLD) and looking for a multi day bounce. In addition, the gold miners are looking extremely attractive at current levels. This is a final flush and likely a great buying opportunity. Look at players like Newmont Mining Corp(NYSE:NEM), Barrick Gold Corporation (USA) (NYSE:ABX) and Royal Gold, Inc USA) (NASDAQ:RGLD).

The low of the day on the GLD happened around 11:10AM ET. Note the massive volume. This is called capitulation or the final flush. Also, an interesting factor is that the gold miners never made lower lows at this point from earlier in the morning.

As the market starts selling harder, gold has also seen a bounce. Note the turn back towards the commodity as the market money exits.

Gareth Soloway
InTheMoneyStocks.com

5 Comments – Post Your Own

#1) On April 15, 2013 at 1:45 PM, jiltin (28.13) wrote:

Prediction is something you claim/announce before, but not after the fact. 

I scanned all your 13 posts in april and 28 posts in mar. Nowhere you have said it is going to go down !

 

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#2) On April 15, 2013 at 3:11 PM, L0RDZ (82.15) wrote:

G.S.  is  good  like  that...   so is  his other accompliace...

I just love a predictor  after  the  fact...

 

LMAO....

 

 

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#3) On April 15, 2013 at 3:25 PM, ThisIsFor2053 (42.50) wrote:

He also seems to think that this is the final flush while it continuously makes lower highs and lower lows all day.

It won't stop dropping until people decide to start buying.  And why would ANYBODY buy gold right now? 

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#4) On April 15, 2013 at 3:38 PM, L0RDZ (82.15) wrote:

I

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#5) On April 15, 2013 at 4:11 PM, Valyooo (99.35) wrote:

Not sure if you know, but transactions don't take place unless a buyer buys from the seller, so plenty of people bought gold today

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