Gold is Droping big time !
Replies to This Discussion
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Permalink Reply by Devendra on -
Gold always goes up. It never stays down for long. It seems like yesterday that gold was $300 per oz. I never thought it would hit $1,000. This is just a temporary blip on the road up, up & up. For gold to go down and stay down, there would have to be a major gold ore discovery somewhere. That has never happened in my life, and I doubt it ever will.
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Permalink Reply by Gary on -
Did you live from 1980-2005? Gold stayed below $500 dollars that whole time.
Devendra said:Gold always goes up. It never stays down for long. It seems like yesterday that gold was $300 per oz. I never thought it would hit $1,000. This is just a temporary blip on the road up, up & up. For gold to go down and stay down, there would have to be a major gold ore discovery somewhere. That has never happened in my life, and I doubt it ever will.
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Permalink Reply by ONE CENT on -
Gold was $280 IN THE YEAR 2000 AND NOW ITS $900 THATS Quite a jump in 8 years
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Permalink Reply by Zyll on -
You're looking at the results and not the causes. Fiscal policy and politics. You've heard me preach too many times on this Gary and if you're still not convinced I guess you never will be. You can ride in the capsule, or sit on the grass from a safe distance and watch the liftoff!
Gary said:Did you live from 1980-2005? Gold stayed below $500 dollars that whole time.
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Permalink Reply by Dave on
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I’m certainly very bullish on Gold. But I better then to say “never say never”. What Gary said was very worth mentioning.
I do believe gold will continue its rise, but that does not mean I expect it to stay there forever. There will come a time to sell.
Remember… pigs get fat, but hogs get slaughtered.
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Permalink Reply by Zyll on
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Oh yes, don't get me wrong. Gold likes to go up and then jump off a cliff every so often, like 1980. There will be a sell signal, but only after the world financial system is completely flushed of bad debt and the people realize that real wealth is built on capital, not credit. When the lemmings start heading for the cliff, I'll gladly sell my gold to them.
Dave said:What Gary said was very worth mentioning. I do believe gold will continue its rise, but that does not mean I expect it to stay there forever. There will come a time to sell.
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Permalink Reply by FiremanDev on -
And gold is rising big time!
I'm of the opinion that no matter how hard one tries to prognosticate on the direction of this PM, the only result to be had is a tremendous headache. No offense to anyone, but the "indicators" for directional activity are all over the board. Economy up, gold should be headed downward. Economy down, gold should spiral upwards. Dollar up, gold down...dollar down, gold up. In fact, I think everything that has anything to do with gold pricing is contraindicative of what should atually be occurring. I got a headache just trying to type that last sentence, and formulate a cognitive and coherent thought...Ow! My brain's just not used to this..trying to rationally think irrationally rational thoughts. Ow!!...there it goes again!
From what I've witnessed- in the short term- 'things' are not transpiring in an altogether rational (there's that word again) fashion. Gold, and gold pricing, is reacting irrationally to world economic events.
Zyll, what do you believe that 'sell' signal will entail...besides a sudden and very rapid loss of intrinsic value?
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Permalink Reply by Dave on
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Well put. I just hope we see the lemmings coming before they reach the cliff.
BTW... I meant to say "I know better then to say...." Sorry for sounding egotistical.
Zyll said:Oh yes, don't get me wrong. Gold likes to go up and then jump off a cliff every so often, like 1980. There will be a sell signal, but only after the world financial system is completely flushed of bad debt and the people realize that real wealth is built on capital, not credit. When the lemmings start heading for the cliff, I'll gladly sell my gold to them.
Dave said:What Gary said was very worth mentioning. I do believe gold will continue its rise, but that does not mean I expect it to stay there forever. There will come a time to sell.
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Permalink Reply by Zyll on
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Well, IMHO, the people who predicted this crash back in 2003 are saying that the other shoe has yet to drop. When you can buy the DJIA with an ounce of gold, that's my signal to take profits. They say don't be greedy and hold on to your profits, but sell in stages. Saying "gold always goes up" is like saying "housing equity always goes up." Right now I bought at such a premium over spot that I have to see the price move up quite a bit before I can take profits.
Remember I'm only a parrot squawking what others write.
FiremanDev said:Zyll, what do you believe that 'sell' signal will entail...besides a sudden and very rapid loss of intrinsic value?
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Permalink Reply by Devendra on
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This low period of gold prices was intentionally created by central banks, as they sold their gold reserves. It's over.
I hope you bought some gold when it was less than $500 per ounce, as you'll never see that again.
Gary said:Did you live from 1980-2005? Gold stayed below $500 dollars that whole time.
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Permalink Reply by george palmer on
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Why yes it is and now we should all go down to the coin shops and dealers( sounds like drugs but anyway) and sale everything that we have to get that green junk that make you feel warm and safe the way the chines are feeling now(LOL) that way they are trying to get out of the U.S. money how low will it go ?who knows? I just know one think for sure I don,t know anything that why I look at coin network just to see what other coin people are thinking because even a broken clock is on time two times a day I think I work with one cent that the way they sound ha ha
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Permalink Reply by Gary on
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We shall see since neither of us is a fortune teller.
Devendra said:This low period of gold prices was intentionally created by central banks, as they sold their gold reserves. It's over.
I hope you bought some gold when it was less than $500 per ounce, as you'll never see that again.
Gary said:Did you live from 1980-2005? Gold stayed below $500 dollars that whole time.
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