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 Replies: 17 / Views: 3,496 |
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Pillar of the Community
United States
2543 Posts |
Wow! Just came home from work and turned on Fox Business News. They were interviewing Bill Strazullo chief market analyst for Bell Curve Trading Assoc.
Gave the big thumbs down on gold. He is advising their clients to sell at $1715 - $1730. He says he sees gold down in the low $1600's and with the continued downward pressure , he sees it bottoming out at $1400 before it stabilizes.
Sell or hold , what do you think?
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Pillar of the Community
Japan
666 Posts |
I see gold down to $1000 ... wait a little bit ///
at the same time I'm calmly adding to my stack at current levels ... it goes down - I add, goes up, I'll not meet you any more ))
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Pillar of the Community
United States
2661 Posts |
This article tells a different story. Flip a coin (pun intended)to see which one you want to believe. Approach both long and short positions on PM's with caution as fear mongering is about to raise it's ugly head once more. Those wanting to turn a quick profit will yell Buy! Buy! Buy!so we will run up the price and they can dump it on us. Those wanting to grab up PM's on the cheap will yell Sell! Sell! Sell! and as fearful lemmings run for the cliff they will be there to catch every once that we dump. Just keep a level head and buy only metals that also carry a numismatic value to help cover your bets. http://www.kitco.com/reports/KitcoN...DeC_911.html |
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Pillar of the Community
United States
3843 Posts |
The talking heads in the financial world have always dismissed gold as an investment and have talked it down for years even before its massive spike. I'm not sure I would trust their advice or at least take it with a grain of salt, because they in large part did not see $700, $1000, $1500, or $1700 gold coming .... in other words they have a track record of being wrong. Bill Gross of PIMCO just recommended moving assets into "real assets". http://seekingalpha.com/article/104...ommends-goldEdited by Joe2007
12/06/2012 9:50 pm
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Pillar of the Community
United States
1200 Posts |
Ah, yes... the eternal tug-of-war-of-words between the Bulls and the Bears...
Two absolutely certain things are:
1--Roughly half of them are roughly half right roughly half of the time.
2--They all leave big piles of it behind them on the sidewalk when their sales pitches are over and they walk away...
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Valued Member
Canada
53 Posts |
I'm not selling until QE stops.
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Valued Member
United States
148 Posts |
No one knows for sure where it would go. Iran could drop a nuke on Israel tomorrow and then where would we be? If you have extra money and want PM's then they day to buy is today. Trying to time it will only get you burned IMO.
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Pillar of the Community
United States
3670 Posts |
True dat FF. Bears conservative nature clawing you down an the bulls uses the horns to lift ya up lol...
We all know I love ox head/bull heads from Engelhard, so we all know which side I picked lol....
Edited by Silverhawk74
12/06/2012 9:56 pm
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Pillar of the Community
United States
3843 Posts |
I'm thinking its only a matter of time before we start seeing hyperinflation due to the massive amounts of money that the Federal Reserve is printing. Zimbabwe would be the richest nation on earth if this type of fiscal policy worked in the long term.
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Pillar of the Community
United States
919 Posts |
Many people forget the value of the dollar controls the price of gold. Everything could line up for higher prices and then the Euro drops and gold will drop too. I'm in this for the long haul. Sorry but I wouldn't mind $1400 ($1000 even better) gold for a little while. If unemployment jumps we could see a sharp drop short term. Who can afford $2500 1 oz pre 33 gold coins? To think 10-11 years ago you could buy a 10 oz bar of gold for under $3000 and pre 33 coins for under $300. Those people have to be smiling.
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Pillar of the Community
United States
3670 Posts |
Gold tends to drop overall around Christmas, in the USA anyway. With that being said China and India are buying plenty of gold around the holidays. India for obvious reasons, and China just because they are always buying gold, smart IMO to be if you can.... No real gold window open til say 1000 per oz., and many will still be wanting crazy money to avoid a loss, and or pull good items from ebay and leave the junk.... Same is true for platinum. Go and try and find a good deal on a 1/10 oz. Liberty platinum proof and I think you will see it is priced like gold or higher. Even though it is about a 100 less per oz. in overall spot value ever since the lines crossed back about a year ago.... I think it was the late BiggFredd who always said all the platinum that has ever been mined will easily fit inside a raquetball court. Think about it in that sense, and you realize its rareity has to account for the higher cost in price, even when spot is down.... Edited by Silverhawk74
12/07/2012 12:29 am
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Bedrock of the Community
Australia
21786 Posts |
All other things being equal except the value of the dollar and the gold price,
the real value of the gold will not increase, but the value of the dollar will decrease if inflation (mild or severe) sets in.
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Valued Member
United States
264 Posts |
Gold below $1697 this morning. Interesting to see how far it dropped in premarket activity.
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Pillar of the Community
United States
919 Posts |
Then the Euro softened and Gold is back up to $1705. At first the higher then expected jobs number moved Gold down. Once that news settled in and the Euro moved Gold moved back above $1700.
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Pillar of the Community
United States
1432 Posts |
Quote:
Roughly half of them are roughly half right roughly half of the time.  Well said Fat Fred. |
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Pillar of the Community
United States
830 Posts |
I like to think of gold as just another currency, one which can't be printed up by any government.
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Replies: 17 / Views: 3,496 |
Posted 12/06/2012 6:03 pm
