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 Replies: 13 / Views: 1,239 |
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Pillar of the Community
United States
931 Posts |
Gold is pushing $1590 in Asian trading. I just wonder how many people are set to sell at $1600. There could be some resistance, but I hope not. Silver is up another 39 cents.
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Pillar of the Community
United States
3670 Posts |
Yes, I am sure some shaky hands will sell at 1600, but they may be kickin themselves when it passes 1700, lol....
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Moderator
 United States
14463 Posts |
I am in no way an expert in PM markets, however I would venture a guess:
"when/if $1600 per gold oz is reached, it will be at least 9 months before we see $1700"
by Fuzzy317 on 7/14/2011 at 1:55am
Edited by Fuzzy317
07/14/2011 01:55 am
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Bedrock of the Community
Australia
21788 Posts |
I have acqiured gold in dribs and drabs with total disregard for the gold price for over 20 years. I have not sold a single item in that time.
The gold that I have acquired has greater numismatic value than gold value. That explains the disregard for the gold value.
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Pillar of the Community
United States
830 Posts |
I made the mistake of selling at $1000.  I had to buy back higher, I won't make that mistake again. Holding for the moon now...well maybe lighten up some at $10,000  Edited by GoThunder
07/14/2011 09:15 am
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Valued Member
United States
458 Posts |
Ouch Thunder :/ but I'm sure you didnt take a loss on it :P
Yes, holding my PM's until I retire most likely in about 40 years. Wonder what the prices will be then! ;)
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Pillar of the Community
United States
830 Posts |
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but I'm sure you didnt take a loss on it No loss, had about a triple in it. Bought around $320 and sold when gold first hit the 1000 area and started pulling back to the $970 mark. The plan at the time was to buy it back around $7-800 area but it never pulled back much. Ended up getting back in around $1400. Should have just held it, live and learn.  |
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Pillar of the Community
United States
648 Posts |
When I bought my first ounce of gold at 1420 bucks (bar) - I didn't realize I would be up this quickly. Wish I would've done this a long long time ago. Gotta start somewhere.
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Pillar of the Community
United States
1450 Posts |
Indeed,when I bought my first 5 ounces for $600/each I broke out in a cold sweat. That was a lot of money to lay out on a bet that all of my friends,who have done a lot more investing than me,said was a loser. I don't hear much financial advice from those guys anymore! Sometimes you gotta read,think,meditate,pray,whatever and then trust your instincts. I find my"gut"is right a lot more often than the talking heads. I'm glad you took the plunge,I think you will be too! This bull still has some legs left!
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Pillar of the Community
United States
4008 Posts |
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Yes, I am sure some shaky hands will sell at 1600, but they may be kickin themselves when it passes 1700, lol.... Yep... but not if we see $1400 before we see $1700! The world is going nuts these days. PMs are surging because of all the political and financial problems around the world. It is possible that a lot of these problems could be cut down to size, if not exactly solved. If that unlikely event happens, we could see a considerable pull-back in the price of PMs. Such an occurrence would not be my best guess but it COULD happen. More likely is that everything turns to absolute drek and any PMs will be worth a fortune.  |
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Pillar of the Community
United States
4008 Posts |
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Sometimes you gotta read,think,meditate,pray,whatever and then trust your instincts. I find my"gut"is right a lot more often than the talking heads. Exactly so, Hock. Your gut is well aware that it will suffer if you guess wrong, so it is in its best interest to give you the very best advice it can. As to the talking heads... well, if we go broke listening to them, they will still be talking about something tomorrow! I use the talking heads on TV to point me in a direction that might or might not be good. Then, it is up to me to do the due diligence on whatever their comments were. Much of the time, I do not invest in what they are discussing. Occasionally, I do find a nugget that it worth exploiting. In any case, it is up to me to decide whether or not to invest, so me and my gut do some serious sweating before ponying up the bucks. Glad to hear that you got in on the gold gravy train so early on. That was a great move on your part. Well done!  |
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Rest in Peace
United States
9104 Posts |
Quote:
"when/if $1600 per gold oz is reached, it will be at least 9 months before we see $1700"
by Fuzzy317 on 7/14/2011 at 1:55am Another defective crystal ball. |
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Pillar of the Community
United States
4008 Posts |
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Another defective crystal ball. Sounds like the standard model to me, Fredd. |
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Pillar of the Community
United States
1026 Posts |
Here is a small part of a news letter I get daily they were talking about the euro falling appart and the US then printing. printing more money what will happen to gold prices.
In an interview with Yahoo Finance, Marc Faber -- editor of the Gloom Boom & Doom report -- said gold could hit $10,000 per ounce... He said "gold will be very well supported" in the long term because of the continual debasement of fiat money. "According to some statistics," he continued, "the gold price today should be worth between $6,000 and $10,000 per ounce," making the metal at today's prices "dirt-cheap."
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Replies: 13 / Views: 1,239 |
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Posted 07/14/2011 01:55 am
