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 Replies: 13 / Views: 1,287 |
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Pillar of the Community
United States
3342 Posts |
Not suggesting that there's a political component, but investors seem to be heading for equities right now...
$1200 gold or bust! "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
7273 Posts |
The gold market was so high since gold was being used as offset to sanctions on Russia. No one wanted Russian rubles but they gladly took Russian gold. Since a new president got elected there is a perception that the U.S. will drop sanctions against Russia and rubles can be traded again. It's really simple. Time to sell gold and wait a few months to buy it again.
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Bedrock of the Community
United States
94367 Posts |
Of course there's a political component.  |
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Valued Member
United States
311 Posts |
Always a dozen reasons on any given day to explain either a drop or a gain. Looks to me like a strong bull market, for reasons not really clear yet. Reasons become clear later near the top. For now looks like sharp quick pullbacks.
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Moderator
 United States
187582 Posts |
Quote: Of course there's a political component. We just do not discuss it here.  |
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Pillar of the Community
 United States
3342 Posts |
Whatever jbuck. I'm only interested in the value component. Metals have been too precious lately.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Moderator
United States
187582 Posts |
Quote:
Whatever jbuck. I'm only interested in the value component. Metals have been too precious lately. I am sorry if I offended you. While we do not discuss politics here, it is okay to acknowledge their effect on the market. It is also okay for you to say what you said. You are trying to keep us focused on what we do discuss here and for that I thank you.  |
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Pillar of the Community
United States
2049 Posts |
My 2 cents....so what? It's pointless to get caught up in the day-to-day or week-to-week ups and downs of the metal prices. If you have a stash of 500 ounces and silver goes down $1/ounce, guess what? You still have 500 ounces. And when silver or gold go down in price, I see it as a buying opportunity.
Edited by CoinHunter53562
11/09/2024 5:47 pm
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Pillar of the Community
United States
3342 Posts |
Looks like I'll have to wait a while for $1200. Gold price is more resilient than I'd hoped for. Sigh.  "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
11/10/2024 6:05 pm
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Moderator
United States
187582 Posts |
Indeed. If it were that easy we would all be rich.  |
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Pillar of the Community
United States
1751 Posts |
Don't see metals dropping with geopolitical risk and deficit spending. Days of $1200 gold is long gone. Supply and demand will not allow it to drop like that with all the central banks buying.
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Pillar of the Community
United States
3342 Posts |
I know psuman08. I'm just mocking a phrase that diehards used to use here. It was an excuse for not buying when it was at $1400. I can remember buying and selling at $400.
it's the same now as it was then. If you want to own gold you have to step up and pay for it.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
11/22/2024 5:11 pm
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Valued Member
United States
311 Posts |
IMO that long term "roof" on gold, stretching all the way from Aug-Sep 2011 high @ $1920, to Aug 2010 high @ $2070 and Mar 2022 high @ $2065 and May 2023 @ $2059 was broken by this latest surge starting just Feb 2024. I doubt gold will ever spend much time below $2000 again.
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Moderator
United States
187582 Posts |
Quote:
I doubt gold will ever spend much time below $2000 again. Sadly, I agree. |
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Replies: 13 / Views: 1,287 |
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Posted 11/06/2024 5:45 pm
