引用:

原帖由 peninsula 於 2007-11-21 06:27 發表

Why dropped so much from $840?

IMHO, the rapidly falling USD sent Gold to $840 in such a short time... and hence gold was overbought at that level..  now that the USD stabilised a bit.. coupled with the recent accelerated unwinding of leverage... the gold was due for a downward correction before going up again... there is a slight catch though, if the unwinding of leverage and credit contraction is bigger than expected, gold might experience a bigger downward move...
gold is in a fundmental bull market, any bigger correction is a good opportunity to buy low, and hold....
expect any USD rally to be shortlived and transitory, there is only one long term direction of USD -- going down and down  (or going south, deep south)...

引用:

原帖由 peninsula 於 2007-11-21 12:27 發表

If I buy gold (LONG position), I need to pay interest as I use leverage tool.

Personally, i dont think it is favorable to short gold (unfavorable odds)... if you dont wanna pay interest, i would rather not participate at all, at least not at this level of gold price....