The Stuka in gold
The dive-bomber, gold, is out-pacing the Nazi Stuka. It is going down faster and faster. Like the Stuka, it should have a siren on it to warn the naive and those who actually believe what the media says. The so-called analysts keep their record intact by being wrong 100% of the time
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Permalink Reply by Steve W on -
Well LG, we all know that commodities have price fluctuations. Gold went up very fast and now correction time is upon us. I still think that the fundamentals of a declining dollar (until recently), massive deficit spending, future inflation, and the potential of higher interest rates make gold a wise investment for the future. It makes sense to have 10-20% invested in PMs. Besides, I do not see a $100 decline being the same as the dive of a Stuka.
I do think that many people did get carried away with"Gold Fever". Those who bought massive positions recently might get hurt in the near term. Precious metals should not dominate a portfolio.
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Permalink Reply by Lureuin on -
I see you all couldn't keep it above 1.1k while I was gone. lol
I agree with Steve W. The price is still sitting at historic highs, and only a drop below 900 could be considered a Stuka (one of my fav aircraft). Gold rose extremely fast and we are just seeing a correction, which is expected.
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Permalink Reply by Lee Grant on -
This week The Mint's pricing guide has the London Gold Fix at $1103 No change in price for this week but next week could see another $50 price drop in gold. Of course the Mint has very little to offer in gold inasmuch they are so tied up putting out 96 versions of Polk coins in zinc, aluminum, or any other base metal that they can buy from China and of course they have an inexhaustible supply of alloys available to them.
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Permalink Reply by Steve W on
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Yes, you are the "Dramatis Personae" as my old Latin teacher used to say. On the other hand you do point out the folly of getting carried away with the "Limitless potential for profits in gold" that some have bought into. I repeat the advice of carrying 10-20% of investments in PMs but avoid leveraged purchases that unbalance the portfolio. This advice applies to any investment concentrations. One needs diversification to avoid ruin in the inevitable shocks associated with investment. (Gambling is all that investing really is any way!) One may try to deceive them self with data and charts, but the fact is that any investment is a wager on future events in the same way that betting on another ace in seven card stud is wishful thinking for that nebulous hope of a "Golden Future"! Actually, the ace of hearts did come up for me in the casino on my recent boat cruise. Nobody was more surprised than moi.
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Permalink Reply by Lee Grant on
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Is the a.m. London Gold fix a fantasy or a predictor of things to come. This is like the Roulette Wheel, Red has come up six times in a row so bet on Black. But the damned little ball has no memory, so Red comes up for the seventh time. Probability and the commodities market are not that different. And of course it wipes us all out when in lands on Green.
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Permalink Reply by Steve W on
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LG, it is testing 1100 again. I am not sure that we have a bottom yet, but I am confident in the situation over the next 12 months. Roll those dice!
Lee Grant said:Is the a.m. London Gold fix a fantasy or a predictor of things to come. This is like the Roulette Wheel, Red has come up six times in a row so bet on Black. But the damned little ball has no memory, so Red comes up for the seventh time. Probability and the commodities market are not that different. And of course it wipes us all out when in lands on Green.
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Permalink Reply by Lee Grant on
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With the option of a Bernanke dollar versus gold ,I would opt for gold even if the Fed Reserve crooks did everything they could to drive it back to $650/oz.
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Permalink Reply by Steve W on
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LG,
I am certain that no one player can now control gold pricing. Too many forces are now at work for that. Certainly, big players will always try to move things in their direction, but the days of the Hunt Brothers Silver Scandal are over.
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Permalink Reply by Buffalo on -
I agree, I think the forces at play have gone beyond the control of any individual, or even any one government now. No doubt they can impact the prices, but I no longer think they can sustain control of prices long term.
Steve W said:LG,
I am certain that no one player can now control gold pricing. Too many forces are now at work for that. Certainly, big players will always try to move things in their direction, but the days of the Hunt Brothers Silver Scandal are over.
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Permalink Reply by Steve W on
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I think prices are beginning to stabilize around $1100. The plane is leveling off.
Buffalo said:I agree, I think the forces at play have gone beyond the control of any individual, or even any one government now. No doubt they can impact the prices, but I no longer think they can sustain control of prices long term.
Steve W said:LG,
I am certain that no one player can now control gold pricing. Too many forces are now at work for that. Certainly, big players will always try to move things in their direction, but the days of the Hunt Brothers Silver Scandal are over.
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