is it a good time to sell gold?
- Thread starter newtohobby
- Start date
I would not dare to disagree with such a distinguised member of Terb. And actually,cyberdoc said:
I agree that the fundamentals for gold are good, and that we will see Gold
return to at least the 950 level.
Then again, it is never a good idea to go against a market move.
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Best time to sell was when oil hit $140.00. It peaked at $147.00. I sold all my silver at $16.50 (it's now $14.something). Bought it at $5.00.
The issue is finding a buyer in a bear. Harder to do. You have to find a buyer near the peak of a bull.
Don't trust the "experts". Go with your gut. I say, buy it when there's a sign the US will issue another stimulus alert or try to print more cash. Otherwise, Bush is out, Obama is in and commodities collapse.
Gyaos.
The issue is finding a buyer in a bear. Harder to do. You have to find a buyer near the peak of a bull.
Don't trust the "experts". Go with your gut. I say, buy it when there's a sign the US will issue another stimulus alert or try to print more cash. Otherwise, Bush is out, Obama is in and commodities collapse.
Gyaos.
In general, I agree with..
As a very wise man told me many years ago: Keep 10% of your wealth in gold bullion (maybe some silver) as getaway money, or the ultimate hedge against the world going to hell.
For more conventional purposes (5 yr + investment) gold is ok,but the best investments are Canadian oil, oil sands, natural gas and tungsten.
..Cyberdoc. BUT it you are not going to become an expert in markets & money, just buy and hold.newtohobby said:
As a very wise man told me many years ago: Keep 10% of your wealth in gold bullion (maybe some silver) as getaway money, or the ultimate hedge against the world going to hell.
For more conventional purposes (5 yr + investment) gold is ok,but the best investments are Canadian oil, oil sands, natural gas and tungsten.
cyberdoc said:
Not for those who brought gold in the late 70's, they just finally broke even or pulled ahead--after over 25 years.
Well then I guess so, as long as 25+ years is ok with you.
I think golds a gamble, could go back up and make new highs soon or it could be in for a long term slide. My dumb gut feeling is its on its way back down---but then I thought gas would be $2 a US gallon by the election--thats only 2 1/2 months away....it going to have start felling really fast, lol.
Technically if it breaks below 770, its probly going to ~685 before a reasonable bounce and if this recession turns into a deflation, all bets are off
The most recent US inflation report was 5.6% which is pretty astounding. It has been quite a while since we have seen inflation at that level. Also, it is possible the Fed may resume cuts as the economy declines. Right now, is also a time of seasonal strength for the US$, don't count on it dropping. I moved some of my US$ back to CDN$ and will move the rest soon. This is alot of euphoria over the bailout of Fannie Mae and Freddie Mac by Uncle Sam, bailouts= inflation as they are essentialy printing money. Also, don't think by any means that the liquidity crisis is over.bullwinkle said:
It will become deflation (like housing). America and their Burger King salaries can't sustain this type of Bush inflation.bullwinkle said:
Gyaos Baltar.
Hey doc, is it not possible that the dollar is in a trend reversal and the averages will catch up? It's been great going long on the dollar the past several days, I know it doesn't make sense when looking at the economic indicators but relatively speaking Europe is doing that great either.cyberdoc said:
Also, do you think the bottom is 750 for gold? Why? Major support level? Which chart are you using to say the max downside is 750?
btw, your handle should be Goldendoc.
Global Demand destruction is just beginning and so equities will be tanking as well ..
For most of us cash will be king for the forseeable future ..
For most of us cash will be king for the forseeable future ..
As I said...
Depending where you lived since the 1970s, you may not have needed getaway money. So far (at least) the world has not totally gone to hell.
Think of the 10% as insurance, generally a lousy investment, but it does have its benefits.
"...Keep 10% of your wealth in gold bullion (maybe some silver) as getaway money, or the ultimate hedge against the world going to hell."S.C. Joe said:
Depending where you lived since the 1970s, you may not have needed getaway money. So far (at least) the world has not totally
gone to hell.Think of the 10% as insurance, generally a lousy investment, but it does have its benefits.
I think now would be a great time to buy gold using certain etfs. I just posted a thread on this.
https://terb.cc/vbulletin/showthread.php?t=204843
https://terb.cc/vbulletin/showthread.php?t=204843
I think a lot depends on the US and European economy. If US is going to continue to go slow the Europeans will go into a recession also. That will further strengthen an oversold dollar against the Euro. And as such Gold will fall a bit further.
If the Europeans can wriggle themselves away from the US market and avoid recession then the Euro will strengthen again and the dollar will be in the 1.55 Euro range again. Gold would then rise again.
If the Europeans can wriggle themselves away from the US market and avoid recession then the Euro will strengthen again and the dollar will be in the 1.55 Euro range again. Gold would then rise again.
