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 Replies: 52 / Views: 3,823 |
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Valued Member
United States
362 Posts |
I've been wary of gold, but I ended up buying a little, but I've bought a lot more silver the past couple months.
But what do you think is going to be the next big move? I think 1900$ for gold will be a huge hurdle...although it seems to be flirting with that line pretty hard. I think at 1900, people are gonna start dumping their gold and buying silver, driving up demand, I wouldn't even be surprised if it hit 50$ again.
What are your thoughts?
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Pillar of the Community
United States
667 Posts |
Some people will ride out the gold but more people will buy, more first time buyers also.
silver will float in the 40's, smaller investors with low budgets may become first time buyers in silver.
Regular speculators will continue to buy both silver and gold at their regular amounts.
I don't see any major movements in gold to silver at this time. This is just based on what I have seen over the past rise in the gold price.
There are a lot of people kicking themselves thinking gold was to high at around $1,500 and a lot of silver people regretting the not buying silver in the 30's.
But what do I know I only wished I sleep in a HI Express.
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Pillar of the Community
United States
3294 Posts |
At some point, I anticipate that gold and silver will behave like it did in 1980, which is to have a severe price drop once everyone realizes the economic sky is not in fact falling. It might take a year or three though for that to happen in my thinking, but when unemployment is down to a reasonable amount again, it will happen.
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Pillar of the Community
United States
667 Posts |
That is the $100 dollar question. Since we basically have a different cycle to gold and silver that is historic what will happen in the future.
What happens if it doesn't drop and follows the same weird path it is on now. I don't know where it is going or what it will do. But this time it is different.
I'm certain some might strongly be considering taking profits. That could hurt the new speculators. Then again maybe the bull still have a lot of time to push upwards.
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Pillar of the Community
United States
931 Posts |
I think gold and silver are going higher. There is no shortage of buyers at today's prices. Buyers today must expect gold to go well above $2000 and silver well above $50. My reason for believing this: If gold buyers are hoping for gold to hit only $2000, why would they risk all of the downside just to make 5%. They must be thinking gold is going to that inflation -adjusted number of $2350 so they can pick up a nice 20% on gold's rocket-like performance. I think silver buyers are thinking the same thing only the recent highs will make them a tidy profit,and unlike gold silver only has to retrace it's recent numbers. Gold is traveling into no man's land so it is probably a riskier trade. Silver has been overlooked in gold's recent ascent and I think now that it's catching up it could blow right through $50 as gold has shown that in the current market precious metals have little resistance climbing into uncharted territory.
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Pillar of the Community
United States
830 Posts |
I guessed in that poll 2 or 3 weeks ago gold would reach 1800 by the end of the year. Wow what a fast move...very close to 1900 now. Who would have predicted? I think 2000 is drawing gold like steel to a magnet now, but it might have a hard time busting through it without some pull backs first. Watch out for this Fri when Uncle Ben comes out of the Jackson Hole meetings with (or without) a QE3 announcement. Some of this upside move might be speculation there will be a QE3 from Jackson Hole, if disappointed look for a drop. Also Obama is supposed to have some grand new plan (after his vacation is over) around Labor day that may include more spending stimulus, which could mean more printing press work (lower dollar, higher PMs).
I'm holding PMs, but added more downside protection today (Sept 175 GLD puts). I'll probably add more protection if we get into the mid 1900s before Fri.
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Pillar of the Community
United States
1450 Posts |
I think $2000 will be the big sell-off point for gold. There may be a dip at $1900 but I think as we near the 2000 mark you will see some jitters. I am in a bit of a quandry myself about what to do.do you sell just under 2000 and hope for a big pullback and then jump back in?ride it out?just get out of gold all together and buy silver low and wait for the big move up in silver? With central banks buying gold,if you get out you may not be able to get back in! Until something big in the world changes,gold should continue to rise but this meteoric rise scares me to death.Maybe the zombie apocalypse is about to begin!
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Pillar of the Community
1283 Posts |
I wish I knew the answer to this. I had a guy offer me a 1 oz AGE for $1825 offer good until Wednesday. I can't really afford to do it, but I can't afford not to either. If the spot is over $1900 on Wednesday I will buy it but we will see.
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Pillar of the Community
United States
1064 Posts |
I'm with throwbackid; I just can't afford to pay $1900 for a PM coin, even when the Ouija Board tells me to. A few ASE's would be nice, at least affordable for now. |
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Pillar of the Community
United States
830 Posts |
I just saw the 1900 level hit on Dec gold (CNBC).
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Valued Member
175 Posts |
Gold is already almost at $1900 and silver almost $44 I bet gold hits $2000 in the next week or two
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Pillar of the Community
United States
1450 Posts |
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Pillar of the Community
United States
2120 Posts |
what do I think will happen?
Gold at $1975 before September 31. Once gold reaches the ballpark of $1975, It will sharply correct to $1700. Gold will then slowly climb over the following 6 months and flirt with $2000 by March 2012.
Silver is going to rise on a trending basis. You will see dollar movements over a 48 hour period with net changes in the range of +/- $0.50. Silver steady at $45 by End of September, moving towards $50 by year end. Slight pull back to $47's in early January, steady increase past $50 by March 2012.
Then the fun begins with the presidential election.
As far as I can tell, there are only a few Major events that will cause gold and silver to move into a bear market.
For gold;
-A debasement of the US dollar (unlikely)
-A return to the gold standard (very unlikely)
-Treasury Interest rates rise to over 10% (possible, but unlikely)
For Silver;
-One of the above conditions for Gold becoming a bear market.
-Creation of a synthetic material analogue for silver (feasible, but a while off)
-Market Flood, Hunts brothers style. (not from one person/group, but globally)
The realistic conditions pushing a PM Bull market are to strong and have no real outlook on changing drastically anytime soon. The only real wild card (in the US) would be Electing Ron Paul as president. But even that won't correct the situations globally that are causing the current Bull Market.
Ideally what we should all be doing is; Budget your income for purchasing PMs, Make those purchases regularly, Focus on your Long positions and not shorts, and diversify withholdings.
TL:DR;
-Going to be lots of ups and downs.
-Expect a trend of a bull market in PMs over the next 6 months.
-Pay attention to Key events.
-Focus on Long positions, not shorts.
-Steady accumulation.
-diversify.
-?
-profit :D
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Valued Member
175 Posts |
Bernanke has already said he's going to keep interest rates artificially low for the next 2 years so the U.S. will continue its endless spending. That's why I see gold going no where but up.
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Pillar of the Community
United States
2120 Posts |
Well if Bernanake is Fired before then...
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Pillar of the Community
United States
2764 Posts |
Gold is $1909 and silver is $43.95
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Replies: 52 / Views: 3,823 |
Posted 08/22/2011 2:44 pm
