How High Will Gold Fly? - Coin Community Forum

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Author	Replies: 3 / Views: 1,035
mmerlinn Valued Member United States 302 Posts	Posted 08/19/2011 04:40 am Gold is up another $39 per ounce in overnight trading (4:28am EST). It's going to be interesting to see what it does between now and Labor Day. Gold has been turbo-charged way too long with no major pullbacks. It it keeps doing what it has been doing, then when the pullback does come, it will be one very severe pullback. I don't have any gold I want to sell, but I do have some silver I might sell before Labor Day. Not all mind you, just some. Report this Post to the Staff

junior e Pillar of the Community United States 931 Posts	Posted 08/19/2011 06:35 am It can and will pull back. This would crush the new buyers, but it would have to pull back a long ways to hurt most of us. And if it does, I'm just collecting gold coins. The boom is just a fun to watch part of owning gold. I just love watching the CNBC guys scratching their heads with blank stares. They can't figure out why in the world we wouldn't be buying stocks as stocks plummet and gold just keeps going up and up some more. With gold up $53 they will probably raise the margin requirements again today, so probably back in the 1700's tomorrow or the day after. Edited by junior e 08/19/2011 07:10 am Report this Post to the Staff
mkfarm Pillar of the Community United States 667 Posts	Posted 08/19/2011 07:20 am Fear- fear and more fear in the world. Markets down, HC wanting his gold there was just too many signs for me not to buy gold yesterday. I'm not saying I made the right choice at this time but the signs where there. I have said it before we are playing with new factors, toss out history and charts and ratios. If your a speculator then speculate. It is like playing poker though when you think you have a winning hand the next player - news in the world can toss you a curve ball. I don't know the correct answer and few people at this point in time know the right answer. At the end of the year one of two things will play out. 1.) Those who choose to buy can be very happy they did. 2.) Those that did not buy will smile that they did not buy. Things in the world can happen that can have a dramatic effect on the price of PM's this year into next year. That could be good or bad. Report this Post to the Staff
junior e Pillar of the Community United States 931 Posts	Posted 08/19/2011 07:43 am I really thought that gold would return to it's inflation adjusted high of $2300, but now I'm not so sure. I don't think that the inflation number means anything to anyone anymore since the gold market turned into a feeding frenzy. If gold had slowly and respectably moved up 1% or so per week I think it would have made "the number". Since buyers have flooded the market bringing so much attention to it's meteoric move, too many people have been left out of the early smart trade in gold, so if they can't have it, we can't have it. I'm afraid that through highly advertised short positions and ten or twelve margin requirement raises they will achieve their goal of shutting down this long and enjoyable gold rally. Report this Post to the Staff
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