Gold
- Thread starter goodguy1977
- Start date
Where is Don Coxe now? Where are the gold bulls now? It's doomed!, gold will bottom in 3 years around $600..
after that, some volcano erupts in the middle of Pacific shooting out lava made of pure gold, resulting in a island made out of pure gold, pushing prices down to $50 / ounce. Lmao.
Just hit the top line yesterday: downtrend continues:
http://www.screenulator.com/view_qchart.php?s=gld&sd=3y&ed=now&p=14&f=1&o=trendlines
http://www.screenulator.com/view_qchart.php?s=gld&sd=3y&ed=now&p=14&f=1&o=trendlines
http://www.screenulator.com/view_qchart.php?s=gld&sd=max&ed=now&p=14&f=1&o=trendlines
The next support level looks like around $1000 maybe $1100 at the best. I would buy a little there, just as a hedge against everything else going to shit.
Price might have already hit bottom but the trough in the chart
could stretch over into 2014. And you can't discount the possiblity
of another violent pullback to below the previous bottom. QE very
likely will carry over to infinity. But much of the money created by
QE so has been sitting idle in banks. Until inflation kicks in gold
price is not going to take off.
could stretch over into 2014. And you can't discount the possiblity
of another violent pullback to below the previous bottom. QE very
likely will carry over to infinity. But much of the money created by
QE so has been sitting idle in banks. Until inflation kicks in gold
price is not going to take off.
Good for you acting like a man admitting defeat! I agree gold is here to stay, but will likely to see a lot lower prices in next 5 years. Maybe around $600 at true long term bottom. Before then I would just trade bits for short term.
Monday I purchased HBD, exchange traded fund which is a double bear gold fund so the further gold falls the higher this one goes, I'm up over a buck a share already. Having said that I still have a couple of small juniors BAR and ATM. Hoping for a takeover at some point but the HBD will make money as gold falls further.
I think gold goes much lower and could stay low for awhile. With the fed. looking to slow bond purchases and rising interest rates and no inflation in sight all bad news for gold.
I do not see any end in sight of the printing of $US. That represent an implied devaluation of $US against real assets.
Rising interest rates could be a result of tapering of bond purchase.
If interest rates are rising by virtue of a growing economy gold
will be hit big time. Rising interest rates as a result of people
dumping U.S. treasury bonds out of fear of the impact of tapering
will not be sustainable IMO. I am willing to bet that
if the Fed is going to proceed with tapering it will be short-lived.
Also note that once lending activities pick up which likely will happen
if the economy is improving inflation will likely kick in.
From a fundamental point of view...the average cost of production is around $1,100. At a market price of $1250, gold mining companies aren't making a lot of money. Since it's an average figure, there're companies whose cost is higher. Those will be shutting down. (Barrick did shut down one mine which was running at $1300+)
Which produces shortage in supply and given the healthy demand from the chinese and russians, it would suggest an increase in price. But when? Nobody knows.
Don't believe Goldman Sachs - they're the ones buying, so they're talking down the price.
Which produces shortage in supply and given the healthy demand from the chinese and russians, it would suggest an increase in price. But when? Nobody knows.
Don't believe Goldman Sachs - they're the ones buying, so they're talking down the price.
I don't believe Goldman Sachs at all. They are the one who was caught manipulating silver a while back. They said that gold will drop to under $1000 dollar. Whoever sold their gold shares should be crying right now. All the insiders have scoped up a lot of the gold shares when it bottomed. I strongly believe that gold won't be going down from this point on. It will go up. I wont be surprised if gold hit $2000 sometime next year.
