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 Replies: 146 / Views: 25,266 |
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Bedrock of the Community
United States
10982 Posts |
Quote:
US. average inflation rate since 2006:... about 2.5% According to U.S. CPI numbers it's actually a little under 2.5%! LOL! Those of who have been paying bills since 2006 know it's been 5% average inflation until a couple years ago when it doubled that number. It's seriously scary folks. |
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Moderator
 United States
23497 Posts |
For those who think they cannot afford Gold-
Remember there are some very nice 1/10 oz coins form various countries( including the USA) that are affordable.
rggoodie
aka Richard
"catch em doing something right"
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Valued Member
United States
312 Posts |
That an IRA in a mining company did well until now is only clear in hindsight. Individual companies go bankrupt all the time.
Putting your IRA in a single company is a terrible idea. Apple was a goner until the ipod.
Now that cheap index funds are available, this is about the single best thing for an IRA.
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Valued Member
Canada
128 Posts |
Looks like gold is on the verge of breaking 2,300.
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Pillar of the Community
United States
2843 Posts |
Caught the tail-end of a conversation/interview on CNBC yesterday, possibly w/ Barrick Gold CEO?, essentially suggesting that if the economy is currently so great & we're really heading for a Fed "soft landing", gold would not be acting the way it currently is. GLD (gold tracking stock/etf) has broken out of its trading range & within just the last 4 weeks, has appreciated +14.5%.
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Valued Member
United States
312 Posts |
Gold has a lot to make up. It's basically been flatish since 2011. That's 13 years of nothing.
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Pillar of the Community
United States
3343 Posts |
13 years of nothing if you bought at the 2011 peak. 2011 was a great time to sell gold, not buy it. What I bought is up 50% since 2015. Going back to what I bought in 2000 it's up 400%. Gold is not for day traders. It's a long term hedge, and there have always been price valleys for buying.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Bedrock of the Community
United States
94367 Posts |
Beware of investing in something that you don't thoroughly understand what drives its value.
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Pillar of the Community
United States
3343 Posts |
I fully expect that we will fall off this current price peak. Gold has been rising at $40-50 a day for no good reason. It's like the run-up on Nvidia stock, which my wife is currently benefitting from. Panic buying IMO.
Right now isn't a great time for buying either Nvidia or gold. It's a great time to be a seller. Collect your gains if you need the money for something like a house downpayment or a car. It's better than reaping capital losses was in 2022.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
Canada
128 Posts |
Just my opinion but "the bigger the base the higher in space". The other reason for golds run is inflation and debt to gdp has hit a wall in most free enterprise countries. There is huge demand in China ,just look at youtubes of department stores in China selling out of gold in minutes. Costco has now brought gold to the masses and they also sell out right away when they get stock.
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Pillar of the Community
United States
2843 Posts |
The $GLD's RSI (relative strength index) is 80 indicating an overbought scenario, stock markets (DIA, QQQ & SPY) all had huge rallies w/o any substantial pullbacks or corrections.... I definitely wouldn't be buying currently.
NVDA currently $900 pps, +300% in less than 1 year... if I could afford Puts, I'd be all-in.
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Valued Member
United States
312 Posts |
Regardless of when you bought gold, from Aug 2011 until just this Mar 1, 2024, gold has been pretty flat. But as sbr mentioned that is a heck of a base. A ceiling that broad is what is needed to convince every short that "Everytime I short gold over $2000, I make bank!".
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Valued Member
Canada
128 Posts |
Well gold has broken $ 2,400 this morning pre market . Next stop 2,500 in what time frame at this rate a couple of weeks possibly. Really hoping my gold miners take off as they have really lagged.
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Pillar of the Community
Canada
5394 Posts |
Starting to look like ..sell baby , sell !
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Valued Member
United States
312 Posts |
A sign of a good bull market is it is going up for no good reason. A sign of a bull market top is when those reasons are common knowledge.
That whip in the gold market on Friday April 12 is common in bull markets.
Another sign of a good bull market is that it gets overbought and stays overbought.
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Replies: 146 / Views: 25,266 |
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Posted 02/29/2024 07:17 am
