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 Replies: 35 / Views: 4,166 |
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Valued Member
United States
425 Posts |
I know Gold is on the rise NOW and has been since about 1999!
But much of what I am reading is that Gold may have reached her peak and will now tumble down the other side, (like was seen from 1980 to 1999!)........So, two questions for you.......
1,How low will it go?
2,When do you think it will fall?
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Pillar of the Community
 United States
2448 Posts |
"Good Grief" Charlie Brown, enjoy the rise! Depending on world conditions, it'll drop when everything stabilizes. Don't look for it soon.
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Pillar of the Community
United States
505 Posts |
I dont think gold or silver will fall too far any time soon...there is way too much unrest in the world and governments still havent closed down their printing machines...this time its not about a couple of rich guys trying to corner the market,Its more about economic survival!
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Pillar of the Community
United States
565 Posts |
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Pillar of the Community
United States
3670 Posts |
Forgive me for forgetting this guys name, as I usually don't like to mention something minus fact to back it up. But anyhow I was watching "Gold Rush" last Friday night, it was the final episode to season #1 on Discovery channel. Anyhow during commercial they mentioned a gentleman who owns more gold bullion than just about any private individual on the planet, and they said that last week, he made 128$ per second, and owns more gold than many small countries....
Anyhow to cut to the chase, he expects gold to get as high as 2400 in the next two years....
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Pillar of the Community
United States
2049 Posts |
Silverhawk....the guy they were talking about is named John Paulson. I just saw that clip on the rerun this evening. He invested $4 billion in gold for what it's worth.
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Pillar of the Community
United States
3670 Posts |
Thank you Coinhunter, perfect timing that is him. Well anyhow, with someone of his intelligence and position, I think I will put much stock in gold hitting 2400 if he says it is going to. Does not mean it will of course, but hey, you gotta like the chance if he says it will....
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Bedrock of the Community
United States
14454 Posts |
I saw those episodes, they also said Alaska has mined more gold in 2010 than it has in 100 years in one of the "gold facts" between commercials. Something like 300,000 Tons in 2010
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Pillar of the Community
United States
2049 Posts |
I agree Silverhawk. There's more likelihood of gold staying where it is or going up versus a precipitous dropoff in my opinion. Of course I could be dead wrong but it would seem with everying going on in the world, with debt spiraling out of control, with money printing going 24/7, etc etc etc, the pressures on the gold price would lend to it going up, not down.
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Valued Member
 United States
425 Posts |
WOW! That was a real shocker, hard to believe I was buying Gold at $350 just about 10 years ago! Wish I had not sold it at $850!!
So if the gold market does crash.....how would you sell/dump 4 Billion in Gold? Is there a chance he is just saying that so no one will get nervous when HE starts selling?
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Pillar of the Community
United States
3670 Posts |
You bring up a great point Odentheking, as he has to protect his interests, but it is gold. It has been sought (many a man or woman killed for it) after by man since it was first dug from the ground literally thousands of years ago. All the archaeologists who support the ancient alien theory which I am sure many of you have seen with much hype over it in recent years on history channel an such, even say the "aliens" came to earth thousands of years ago to mine gold. So if it is sought after universally, can't go wrong in owning a little bit, lol....
All jokes aside, I mean come on the guy had 4 billion to invest in gold, I would say the chances of him ever having anything to worry about financially is 1 and a zillion, and I think gold is a safe investment just my novice opinion....
Edited by Silverhawk74
02/22/2011 12:35 am
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Pillar of the Community
United States
3592 Posts |
If the guy has that much gold, he certainly wants it to hit $2400 an ounce...and what better way to make it go up than say that ? Of course I hope it is true...but his pushing it gives me second thoughts.
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Valued Member
United States
425 Posts |
Thank you all for the advise. As you may have guessed already I am one of those that was hoping gold would go down to....... well buy some more! Not so much to make a profit on it, as it sounds I could buy some now and clearly sell it later for more $$$$$, but really just to feed that gold fever! I had picked up quite a bit when it was $350 an oz. but sold all but 3 oz.'s now. Hard to take a "Treasure Bath!!" with only 3oz.s!
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Pillar of the Community
United States
2049 Posts |
Me too Oden...I want to see silver and gold go down before it goes up so I can buy more. It's getting hard to pay $34 for one ounce of silver when just a couple of years ago we could buy in the $12-$14 range. Heck, I remember when silver was down around $9 an ounce in December 2008, and the days when junk silver could be bought around 9 to 10x face. So a big dip in the price would be nice, but I am just not sure it's going to happen.
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Rest in Peace
United States
9104 Posts |
Hasn't been long since silver was $3.88 (Clinton). We old farts can remember $1.29 and $50 Saints.
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Valued Member
India
265 Posts |
there might be a little low low in gold prices, but I am sure that she would not hit the rock bottom.
warm wishes
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Replies: 35 / Views: 4,166 |
Posted 02/21/2011 9:53 pm
