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 Replies: 40 / Views: 6,097 |
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Pillar of the Community
United States
586 Posts |
This prediction is based on my reading of weekly GOLD COT futures report. I posted on SStacker few weeks ago and got ridiculed. Now the first step has been reached. My plan is to be able to buy ASE below $17.5 (or even $17). What is your plan ;) |
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Pillar of the Community
United States
6478 Posts |
That is ridiculous! I highly doubt that gold will go down that low. Buy now! Silver is down! ASEs for $18.40! Steadily buy a lot over time while spot is low. If you wait for spot to go lower, it might, or might not. That is why you should buy small amounts over the period of it being low to build up to massive amounts of cheap silver.
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Pillar of the Community
Canada
2019 Posts |
Might be better off buying shares in Back pain medicine companies if gold and silver drop as people will be buying lots and lots of the stuff and 100s of oz of this stuff isn't light.
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Pillar of the Community
 United States
586 Posts |
One more smackdown to 1130, please.
Maybe Friday again?
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Pillar of the Community
United States
589 Posts |
All ya'll crazy people invading CCF, spreading yer crazy ideas. This here's ma turf! Get yer own!  Gold to 1085? Really? It'll hit 500 in the next few months. Silver will hit 5. And it'll be downhill from there. I'm writing every congressman I can, trying to get legislation introduced for circulating gold and silver coins come 2017 when silver's under a dollar an ounce and gold under 20. Where it should be. The market's just correcting itself. It's been an 80 year bubble, introduced by FDR. FDR'll be rolling in his grave soon. All kidding aside, I highly doubt you'll see 1085. We might hit 1130 gold and maybe low 14's silver, but really it can't go much lower. (Certainly not to $5-8 like I've seen other predictions on the internet, that's the lowest all-in production cost of the most efficient mines...they'll shut down and wait for the market to correct itself before they produce at a loss) |
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Pillar of the Community
United States
808 Posts |
If the Fed allows interest rates to rise any significant amount (and they very well might this time) I could see another big drop in the gold price. Of course, with QE starting in Europe, (a bullish sign for gold?) that should help confuse things nicely.
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Pillar of the Community
United States
586 Posts |
From technical analysis point of view, a lower low is guaranteed.
i.e. gold will break below 1130 (late last year's low); so will be silver.
Look at the charts, this event might be just a few weeks away.
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Pillar of the Community
United States
586 Posts |
Just finished a daily chart analysis on GLD. The bottom we're approaching is around 105 to 106; which corresponds to gold spot 1095 to 1105. In summary, the lower low that I mentioned should be about $1100. Silver might be slightly below $14 at that time. Then my $17 ASE purchase will come true. |
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Pillar of the Community
United States
808 Posts |
leon1998 said: Quote:Then my $17 ASE purchase will come true. Not everyone would agree, but I'd consider that price range a buying opportunity. I'd be tempted to pick up a few ASE's at that price! |
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Valued Member
United States
110 Posts |
Quote:
If the Fed allows interest rates to rise any significant amount (and they very well might this time) The fed cannot and will not let interest rates rise. The economy is already turning south again. I will bet anyone here an ASE that they do not raise interest rates in 2015 (like they said they would several months ago). |
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Pillar of the Community
United States
586 Posts |
Gold is approaching a mid-term bottom; probably around 1100 to 1130 range.
After that, gold will bounce back maybe 1170 level; and then back down to 900.
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Pillar of the Community
United States
808 Posts |
Just like we're seeing in the oil patch with the collapse in the price of oil , the sub $1100.00USD price is going to squeeze less profitable gold mining in a big way. I know, we've all heard this before on late night TV ads. However, there's got to be a real point where supply begins to fall enough to offset further declines in price, right? Any educated speculation on what that price might be?
Edited by coinwatch
03/15/2015 8:06 pm
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Pillar of the Community
United States
586 Posts |
@coinwatch,
Whether to create panic, or bankrupt bullion dealers/LCS; I feel that gold WILL eventually break below $1000 per oz.
However, it won't stay there for long; since supply will dry up quickly.
jm2c
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Pillar of the Community
United States
808 Posts |
Business Insider way back in 2013 answered this question using 2012 and 2013 cost estimates. Take a look if interested: http://www.businessinsider.com/the-...-gold-2013-6Some global production had costs well below $500.00USD. The cheapest US production was close to $700.00USD. Again, remember this is old data. Note: I did some research on the Cortez mine(US) and it's unusually low listed cost. Can't confirm the 2012-13 cost but the estimate for 2014 is just above $700USD. @leon, I suspect you're absolutely correct. Edited by coinwatch
03/15/2015 9:25 pm
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Pillar of the Community
United States
586 Posts |
Gold might reach 1130 tomorrow by FOMC's meeting.
;-)
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Pillar of the Community
United States
1476 Posts |
Just wondering, Do you think the uptick in gold and silver today was because of the decline of the USD?
I'm just trying to get an education because I am really new to this.
Thank you?
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Replies: 40 / Views: 6,097 |
Posted 03/10/2015 12:11 pm
