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 Replies: 35 / Views: 4,167 |
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Valued Member
Cyprus
349 Posts |
be careful of the market makers pushing up the price. They make more on the crash!
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Pillar of the Community
United States
1450 Posts |
Most of the climb today appears to be dollar weakness rather than mass buying. That is the reason I own gold,to protect purchasing power. Always pay attention to the "whys" of rises and drops, they tell you more than price does.
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Valued Member
 United States
425 Posts |
OK, OK, I am officially "WRONG"!! It really looked to me like gold had hit a high a around $1400 and was dropping........ but it sure has come back!!
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New Member
United States
34 Posts |
gold will plumit back to 800-900 an oz then buy
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New Member
United States
24 Posts |
I wish I owned more gold. I think gold is safe for a awhile. I have not talked myself into buying more. I can assure you all when I do, the gold market will sink.
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Bedrock of the Community
Australia
21788 Posts |
The Feds. are 'quantitatively easing' to get the economy going again. This done by printing more money, in a controlled manner. For this reason, the general trend in bullion prices is to rise. High volatility of bullion prices masks this.
In theory, this produces two benefits:
More economic activity means more jobs. Too many Americans are unemployed at the moment. More economic activity means stronger stock and property markets. That also helps the nominal value of my superannuation.
The U.S. gets to pay off its debts easier with smaller dollars. I used this method over 10 years to pay off my mortgage, by using inflation to my advantage. You need a debt, not an asset, to achieve this.
To those who wish to invest in bullion that is a bonus, but most financial advisers suggest that you have no more than 5% of your total investments in bullion.
BTW, numismatic and bullion values tend to be counter cyclical to the stock market. With declining stock prices, one of the investment target areas for cash realised from shares is in the numismatic and bullion markets.
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Pillar of the Community
Canada
3692 Posts |
I can't see it dropping to less than 1087.00. For gold to drop like that, wouldn't we have to be seeing some kind of economic reform? (I'm no expert - that should be in my sig). But I can see it going to 1250.00 or 1300.00 in the next few months. In my lifetime I see it going to over 2000.00 but not all at once. It'll be very gradual and unnoticeable by the general public. By the end of the year I can see it going to about 1500.00 or hovering around 1485.00.
Lol don't ask me how I got those numbers. It's only fun.
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Pillar of the Community
United States
4008 Posts |
Being an old guy myself, I have to agree with BiggFredd. Heck, I can remember when a paper dollar and a silver dollar could be swapped one for the other at any bank. Just try that these days!
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Pillar of the Community
United States
4008 Posts |
I don't see how gold could take much of a price hit these days. There seem to be a lot of reasons for this. The Fed is pumping out new dollars 24/7 and will be until at least June. Other central banks are doing the same in their local currencies. The Indians and the Chinese are buying more gold and silver these days. At least one web site that I was reading a few days ago said that the cost of producing an ounce of gold was about $1,000. I am sure that varies quite a bit, so that's probably an average value of some kind. I would think that this would put a floor under gold prices at somewhere near the price of production.
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Valued Member
United States
286 Posts |
we will see what happens after Bernanke gives his little speech on april 27th and if he decides to do a QE3 then BOTH gold and silver are going to go UP UP UP!!
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Pillar of the Community
United States
3184 Posts |
there are many wanting silver and gold to drop so they can buy more but I'm not sure if it will happen and when. We are in a different economic environment than in the 1970s-80s when silver rose to 50 and then dropped to 5.
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Rest in Peace
United States
9104 Posts |
QE = print worthless paper money as fast as the presses can go.
Only a gubmint can take two useful items like ink and paper and turn them into something absolutely worthless.
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Valued Member
United States
286 Posts |
I agree biggfredd,
I wish I could print some money with my printer and have it be worth something.....
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Pillar of the Community
Canada
3692 Posts |
Ever gotten a "paper fee" when being billed? I had to explain to this company that they're charging paper for paper and there's nothing of value for which I'm being charged. They kind of agreed with me but they didn't quit their jobs over it.
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Valued Member
United States
463 Posts |
personally I wouldnt buy so much gold, I sold/traded most of my gold for silver. Its too hard to complete a set of gold coins then silver coins if we are talking mainly bullion values
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Replies: 35 / Views: 4,167 |
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Posted 03/02/2011 08:51 am
