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 Replies: 35 / Views: 3,698 |
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Pillar of the Community
United States
4008 Posts |
Poll Question
Hey, all... I'm interested in buying some gold, either bars or perhaps some AGEs. I see where APMEX is now selling some PAMP 1-oz. bars for spot + $35. That seems like a pretty good deal but with the recent rise in Au prices, I'm not sure if I want to jump in here. So... I thought that I would massage the collective wisdom of the CCF to see what others think of gold prices and where they might be going over the next 4-6 weeks:
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Pillar of the Community
United States
3670 Posts |
Real simple Ed, as I think (pure stinkin gut feelin, no basis for any real belief that it will indeed do what I think it will) gold will breach 2000 this year, up to 2250, maybe even 2500 hundred, and then pull back around winter again as usual. But the catch this time around, it will bottom out down around 1700, instead of 1550 like this past Christmas....
I voted 1700 by the way, but meant to vote the last one in hindsight now after re-reading. I don't expect it to stay around 1700 for long, just bottom out there in late fall end of the year time...
Edited by Silverhawk74
02/09/2012 9:22 pm
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Valued Member
United States
230 Posts |
I think it will be in the $1750-$1775 range over the next 4-6 weeks. Further out, my guess is that it will get to $2000 by the end of the year.
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Pillar of the Community
United States
2168 Posts |
I really have no clue. I just kind of watch and buy on dips or when it seems outside factors are causing the rise / fall. No crystal ball for me and I just am not the type to guess.
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Pillar of the Community
United States
802 Posts |
I think gold will easily go over $1,800 and then some, however I think that there will be some more volatility. I think it will drop to possibly 1600s before boosting. Same with silver. I plan to buy some silver back in the mid to high 20s.
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Pillar of the Community
Canada
1502 Posts |
This is where I'm placing my bets. Itching too, to get into it more with this recent APMEX deal. $40 above spot is not bad at all. |
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Pillar of the Community
Canada
1723 Posts |
I think that something needs do be done with Greece and the next bailout package... With them on the verge of a deal agreement followed by Agreement by private investors to take a voluntary haircut when that bailout is issued, I think you will see a risk on approach and see gold spike to the $1775 - $1850 area. Just my thoughts on how I think the markets are reacting. I do think that once we get over that $1900 area that we are going to see a large profit taking selloff followed by a further uptrend. I also agree that $1675 - $1700 is the new bottom. CHEERS!
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Bedrock of the Community
United States
10982 Posts |
Confucius say, "Gold going to $1800 by spring, but don't know what spring".
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Pillar of the Community
United States
2168 Posts |
Exactly. Something we really never know.
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Pillar of the Community
Canada
1502 Posts |
Bringing up Confucius got me in a playful mood. I took out some old coins and "fortune told" whether it's a good time to buy gold using the old Chinese Yi-Jing method, and got this:
(Roughly translated)
"There is risk and danger ahead, but taking initiative and being proactive will lift you out of danger. Helpful hand to be found in the Southwest. Overall good fortune will befall."
"Will eliminate/capture 3 villains/crooks and come to possess a yellow/golden arrow. Will prosper."
Hahaha, pretty fitting i'd say. I'm not one to be superstitious but I definitely got a kick out of this one.
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Valued Member
Portugal
263 Posts |
The the old Chinese Yi-Jing method, is about right I would say, here is the reason, the chinese allways exported gold and silver but now they are cutting the exports and importing a lot more, so lets see china has 1.338.612.968 of population right?
If they keep staking like they are right now do you really believe there will be any gold left in the future? Or do you believe they will continue to buy U.S debt as the dollar devalues more and more, because the oil that they are getting from Iran is payed in gold right now, what if these asian countrys start to pay for imports in gold to , what do you believe will happen?
Edited by mysterimen
02/10/2012 02:04 am
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Valued Member
United States
62 Posts |
I wish I could afford gold lol
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Bedrock of the Community
Australia
21788 Posts |
MY hunch, from current world economic forecasts over the next 2 years, gold will trend upwards, a bit faster than inflation. It's volatile stuff. That will remain. I don't have anywhere enough confidence to speculate, buy and sell in the short term. Those with sophisticated market software would do much better than me in this regard. Confucius say: "Man who run through flyscreen door liable to strain himself".  Edited by sel_69l
02/10/2012 02:42 am
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Valued Member
United States
197 Posts |
My choice was not included in the options. Gold will exceed $2,000 this year, possibly even hit $2,100, but will not end the year that high.
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Pillar of the Community
 United States
4008 Posts |
Good comments, everyone, thanks for all the input!  Gold does seem to be building some strength and putting in a new bottom after its drop back to around $1550 per oz. It is looking like it will stay in the area of $1700-1750 for a while now. How long that will be is anyone's guess. There is much more going on these days than just gold fundamentals. I know that is often the case but it just seems so much more the case these days with all the violence in the Middle East and the debt problems in Europe. There are certainly a lot of things to consider when looking into buying gold... or any PM, for that matter. If there is a reasonable solution to the Greek debt problems and for Italy and the other affected European countries as well, then we might see the price of gold fall back to below $1600. If not, then gold could zoom upwards in price for sure. Worst of all would be a debt solution that collapses at the last minute, dashing expectations. That could cause a lot of people to run for the hills with their investing money and get into PMs ASAP. Their demand would definitely push prices higher, at least until additional work on the debt problems assures people that the financial world is not ending any time soon. China is another wild-card, IMHO. They are actively buying gold and in substantial amounts too. They are also encouraging their people to invest in both gold and silver. It IS possible that there will be a new gold / silver monetization attempt via a trade currency of some kind that would be at least partly backed by gold, silver, or some combination of commodities that would serve as a much more stable currency than any of the world's fiat currencies. If so, it would likely be led by the Asian creditor nations. This could be exactly why they are stockpiling gold and silver now, whereas a few years ago, they were net sellers of both. Not that I have any insight into future PM prices by any means. For the moment, using the dollar cost averaging technique augmented by buying more on the dips seems to be the way to go and only time will tell if that is the best way to go. Hopefully, it will all work out and that those of us who have chosen to store some of our wealth in PMs will be proved to have chosen well.  |
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Pillar of the Community
United States
3670 Posts |
Like you often say Ed, there are too many VARIABLES at play these days to make an accurate estimate either way, flip a coin eh.....
I will say this, don't over think it, just buy some gold to go with all that mountain of silver, can't be a bad thing having some of both....
Should you have bought in back early at 1400, or even in the recent drop to 1550, probably since you are way better position to. But matters not now, water under the bridge. If I was you in your position and was actually able to stick to the strict/smart buying rules you set for yourself, like buying in the dips, then I would I add some gold as well absolutely. But that is just me, everyone in the end has to decide what is best for him/her and their closest family in the end....
Edited by Silverhawk74
02/10/2012 7:26 pm
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Replies: 35 / Views: 3,698 |
Posted 02/09/2012 9:26 pm
