The Gold thread

hat's people outlook on gold for the next month?

Will it hold its own?

Presumably the potential cuts by the fed next week have already been factored in.

I'm trying to decide if i should sel now or not
 
Is now the time for everybody to jump in and buy Gold, $1000/oz and rising quick....
IMO the US dollar is gone as a currency and the euro wont be far behind, gold is the only stable currency out there. i;m thinking we'll see $2000 before the year is out.

My only question is weather the new US president will have any difference to the US economy??

any opinions
 
abakan said:
Is now the time for everybody to jump in and buy Gold, $1000/oz and rising quick....
IMO the US dollar is gone as a currency and the euro wont be far behind, gold is the only stable currency out there. i;m thinking we'll see $2000 before the year is out.

My only question is weather the new US president will have any difference to the US economy??

any opinions
Click to expand...

WRONG, if anything gold is due a big correction and the dollar a rally, ever since gold took off in 2001 this has been the pattern, a major run up and then a major correction, all the while its long term curve has been upward, but gold has crucified the speculators, who have tried to make a killing , the same thing happened in 2006 when there was a major run up, alot of media interest and speculation and then gold turned tails and corrected big time. My advice wait for the big correction
 
joe sod said:
WRONG, if anything gold is due a big correction and the dollar a rally, ever since gold took off in 2001 this has been the pattern, a major run up and then a major correction, all the while its long term curve has been upward, but gold has crucified the speculators, who have tried to make a killing , the same thing happened in 2006 when there was a major run up
Click to expand...

If Gold is generally trending upwards then it is hard to time a correction, it could occur tomorrow, 6 months or 18 months time. But if the general trend is upward then does it matter? The correction in 2006 was not as extreme considered in the scheme of things by comparison now, it's just a matter of staying invested as the American financial system falls apart. The $200bn FEd intervention will be like peeing into the wind...

au1825nyb.gif
 
abakan said:
Is now the time for everybody to jump in and buy Gold, $1000/oz and rising quick....
IMO the US dollar is gone as a currency and the euro wont be far behind, gold is the only stable currency out there. i;m thinking we'll see $2000 before the year is out.

My only question is weather the new US president will have any difference to the US economy??

any opinions
Click to expand...

looks like a major correction in gold and silver, it is crucifying the speculators again just like in may 2006, silver will now frighten people by how quick and fast it corrects, thats the thing about commodities there is so much speculation involved, probably also a major lift in the dollar
 
just came across this thread about gold i bought gold coins a few years ago.have 75 for sale including 40 sovereigns. approx 16 ozs gold for sale. have to liquify my assetts .if any one is interested i can be contacted at [email protected]
 
Interesting thread. Had missed it before. Some of warnings from 2006 seem quite precient. Funny that Pat Kenny recommended Irish bank shares and was negative on gold because it was below its nominal high in 1980. Gay Byrne admitted on Marion Finucane at weekend that he had lost a lot money on Irish bank shares. Wonder is Pat in the same both? Sounds like most of the Irish public, they failed to properly diversify unfortunately.
 
Is gas that the majority of people who post re gold on AAM are negative and this Gold Thread has not been posted on at all and yet people think gold is a bubble.

This is in marked contract to the sentiment on AAM in relation to equities and property prior to their bubbles bursting. Everybody was buying property in Ireland, UK, US, Spain and Bulgaria; there were hundreds of property threads and the few people who suggested to beware of bubbles were laughed at or dismissed as "doom and gloom merchants".

The majority of people in Ireland, the UK and much of the western world do not know what the price of gold is ; let alone how you could buy it. This is slowly changing as a small minority are realising the dire straits we are in and the risks of a currency crisis.

According to National Geographic, only 161,000 tons of gold have been mined in human history — barely enough to fill two Olympic-sized swimming pools. More than half of that has been extracted in the past 50 years. ETF holdings, which the World Gold Council reported climbing 33 percent last year, represent far more gold ownership than actually exists.

Thus, all the gold in the world mined since the dawn of time is worth some $5 trillion.

The Federal Reserve just created some $1.1 trillion the other day!!

Gold remains an essential diversification.

Diversify People
 
Beware of investing in gold companies as many have toxic assets such as derivitives.
If investing in gold,buy bullion i.e. the actual gold.
Gold may well increase in value as paper currencies are overprinted.
However the paper currencies are not going to collapse and are the medium of exchange.
 
Good point Sunrock - gold mining companies have geological, natural disaster, environmental, litigation, auditor, management, trade union and nationalisation risk that gold bullion itself does not have.

Eddie Hobbs just recommended gold bullion on Mooney as he believes double digit inflation is coming in the coming months.

While gold has consolidated nicely and is up some 5% in dollar terms and more in euro terms so far in 2009 (unlike nearly all other assets), silver remains extremely undervalued relative to gold and other asset classes:

Silver's Discount To Gold Sticks Out Like A Sore Thumb
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090313%5CACQDJON200903130949DOWJONESDJONLINE000638.htm&&mypage=newsheadlines&title=COMMODITIES%20CORNER:%20Silver's%20Discount%20To%20Gold%20Sticks%20Out%20Like%20A%20Sore%20Thumb
 
abakan said:
Is now the time for everybody to jump in and buy Gold, $1000/oz and rising quick....
IMO the US dollar is gone as a currency and the euro wont be far behind, gold is the only stable currency out there. i;m thinking we'll see $2000 before the year is out.

My only question is weather the new US president will have any difference to the US economy??

any opinions
Click to expand...

President Obama is worst than Bush what with all his stimulus and bail out packages that are going to run to a couple of trillion dollars by year end.

The Americans are in debt and rely on countries like China and Saudi Arabia to buy this debt in the form of treasuries. Sooner or later these countries will realise that America is a busted flush and dump all these dollars onto the market. This will in turn cause massive devaluation of the US dollar, interest rates will sky rocket and the brown stuff will have truly hit the fan.

Diversify into gold and silver.
 
Interesting video Up the Deise.

Recycling metals, plastics, glass etc. will be growth industries in the coming years as our small planet's resources have been unsustainably used in recent years and it will be more cost effective and efficient to use recycled materials.

Hope some budding Irish entrepreneurs will look at this video as there are huge employment and business opportunities in this sector.
 
Duplex said:
Hey WTTW wait till I sort myself out before starting a bull run on gold. :D

I think that a gold allocation is a good defensive move at the moment, as the creditability of the Fed’s tightening policies is brought into question with the demise of M3 money supply data. Its also interesting to note that the M3 money supply data coming from the ECB suggests that M3 is growing by 8-9% well above what the ECB is comfortable with.

One important caveat, Gold or other precious metals investment is speculative; however it has proven to be a good hedge against inflation in the past. I still anticipate a credit crunch (to follow the present global debt bubble), caused by rising defaults and a widespread (global) property market reversal.

PS
I heard something today about my local property market that has sent chills down my spine, I am witnessing debt driven easy money mania here, big-time.
Click to expand...

Well Duplex...thanks for the warning
 
You must log in or register to reply here.
Back
Top