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1/22/2020 12:12:56 PM
Posted: 9/16/2009 9:00:18 PM EST
Where will it stop. Is it on the way to the 2000 that some have predicted? Is it too late to get in the game? I see the price of gold as a vote by the people with a stake in the game that things are going to get way worse.
Link Posted: 9/16/2009 9:05:29 PM EST
Now's the time to sell, not buy. Gold is usually up in September and falls shortly there after. I haven't heard $2000/oz on anything other than a Gold commercial on the radio. $1100 is the prediction. But never try to predict precious metals.
Link Posted: 9/16/2009 9:07:52 PM EST
I agree if it cracks 1100 Ill sell mine and roll it into some stocks and probably silver

I think silver is still undr vauled but i would not buy very much as it is kinda high
Link Posted: 9/16/2009 9:32:57 PM EST
I'm amazed how few people have noticed this.

Earlier this year, silver was around $11/ounce. Now it is approaching $18/ounce.
Link Posted: 9/17/2009 4:16:29 AM EST
I got a call from Goldline yesterday saying gold was gonna hit $5K by 2015. I said I was busy but it did get me thinkin!
Link Posted: 9/17/2009 4:18:15 AM EST
I remember when gold was $45-$50 an ounce. If one could only see into the future...........
Link Posted: 9/17/2009 4:18:51 AM EST
Originally Posted By walt_l:
I got a call from Goldline yesterday saying gold was gonna hit $5K by 2015. I said I was busy but it did get me thinkin!


You would need ammo if it went that high, not gold
Link Posted: 9/17/2009 4:19:57 AM EST
If Gold really makes it to $5,000 per ounce, can you imagine what the price of silver will bring?
Link Posted: 9/17/2009 4:20:11 AM EST
Originally Posted By walt_l:
I got a call from Goldline yesterday saying gold was gonna hit $5K by 2015. I said I was busy but it did get me thinkin!


that means the dollar will be worth 1/5 of what it is today.

gold's value is inversely related to the US dollar from what I recall...

Can gold's value increase without the dollar's valule decreasing?
Link Posted: 9/17/2009 4:22:30 AM EST
By the time you see Gordon Liddy hawking it 24/7 it's probably a little late to get in.
Link Posted: 9/17/2009 4:23:29 AM EST
The day gold hits $5K is the day we enter World War 4.
Link Posted: 9/17/2009 4:23:41 AM EST
local radio station said gold is going to $4,000 an ounce yesterday... could be true
Link Posted: 9/17/2009 4:26:14 AM EST
Sell gold. Buy ARs and ammo.
Link Posted: 9/17/2009 4:26:59 AM EST
Not to high jack, but if you have a stash of coins and you want to sell them how is the best way?
Link Posted: 9/17/2009 4:27:50 AM EST
[Last Edit: 9/17/2009 4:33:35 AM EST by StraightShooter7]
When Carter was running the country into the ground gold reached $850 per ounce. Once Reagan took over and the economy turned around gold dropped to $300 an ounce.

Hmm…. for some reason I foresee a strong case of déjà vu coming in the next few years. Now is the time to sell or at least only keep what you got. Not buy.


EDIT: Also you have to remember that almost all the people telling you that in the next few years gold is going to be worth 2x, 3x,4x, 5x, or even 6x what it is worth today have an invested interest in you buying more gold.

It is no different than any other business. They make money by selling their product. They sell their product by making you want to buy it.
Link Posted: 9/17/2009 4:29:56 AM EST
Originally Posted By ag04blast:
Not to high jack, but if you have a stash of coins and you want to sell them how is the best way?


I've been using ebay. Local folks wont pay squat.
Link Posted: 9/17/2009 4:30:16 AM EST
Thats retarded! I doubt you will ever see such conditions where you will need an AR15 slung over your back, just to travel a few miles to visit friends and relatives. If it ever gets that far, Marshal Law will be in place!
Link Posted: 9/17/2009 4:32:25 AM EST
Wait 'till it goes down, then buy some fractional eagles to bribe the Antichrist's police with. That's all gold is useful for.
Link Posted: 9/17/2009 4:45:09 AM EST
one word: CHINA

They are heavily contributing to the gold market (if not more than anything else including the value of the dollar) and will pace their purchases to avoid pushing the market skyward.

The current level will probably remain as long as China keeps buying. When they stop, I personally would expect a pretty abrupt correction. I also think that, given the volumes involved, this is relatively unchecked in reference to the Dollar. IMHO of course.
Link Posted: 9/17/2009 4:48:47 AM EST
Windows 7 comes out on 10/22. satan is at work here....
Link Posted: 9/17/2009 4:56:40 AM EST
Originally Posted By Ninjaman:
Originally Posted By ag04blast:
Not to high jack, but if you have a stash of coins and you want to sell them how is the best way?


I've been using ebay. Local folks wont pay squat.


I was going to recommend eBay also. People are paying 10-20% over spot price on eBay, so after eBay and PayPal fees it might be possible to get over spot price.

Back when Live.com was having 30% cashback on eBay, I was selling 1/10oz eagles for nearly 40% over spot price.
Link Posted: 9/17/2009 4:59:35 AM EST
Does anyone out there know how well gold ETF's (exchange traded funds) correlate to the price of gold?
Link Posted: 9/17/2009 4:59:59 AM EST
Yes, the more gold that is sold, the higher the price will rise. But is there really enough support to cause it to go to 2k a troy? Doubt it. Gold has limited utility.

It cannot be farmed to produce a crop. Sure, the commodity pricing will rise but also fall when people who bought into it need to make it work.
Link Posted: 9/17/2009 5:03:32 AM EST

http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html

China alarmed by US money printing

The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

By Ambrose Evans-Pritchard, in Cernobbio, Italy
Published: 9:06PM BST 06 Sep 2009

Comments 207 | Comment on this article

* Working for the Yankee dollar: Beijing is said to be dismayed by the Fed's recourse to 'credit easing'

* Photo: Reuters Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive, said Beijing was dismayed by the Fed's recourse to "credit easing".

"We hope there will be a change in monetary policy as soon as they have positive growth again," he said at the Ambrosetti Workshop, a policy

"If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said.

China's reserves are more than – $2 trillion, the world's largest.

"Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added.

The comments suggest that China has become the driving force in the gold market and can be counted on to buy whenever there is a price dip, putting a floor under any correction.


Mr Cheng said the Fed's loose monetary policy was stoking an unstable asset boom in China. "If we raise interest rates, we will be flooded with hot money. We have to wait for them. If they raise, we raise.

"Credit in China is too loose. We have a bubble in the housing market and in stocks so we have to be very careful, because this could fall down."

Mr Cheng said China had learned from the West that it is a mistake for central banks to target retail price inflation and take their eye off assets.

"This is where Greenspan went wrong from 2000 to 2004," he said. "He thought everything was alright because inflation was low, but assets absorbed the liquidity."

Mr Cheng said China had lost 20m jobs as a result of the crisis and advised the West not to over-estimate the role that his country can play in global recovery.

China's task is to switch from export dependency to internal consumption, but that requires a "change in the ideology of the Chinese people" to discourage excess saving. "This is very difficult".

Mr Cheng said the root cause of global imbalances is spending patterns in US (and UK) and China.

"The US spends tomorrow's money today," he said. "We Chinese spend today's money tomorrow. That's why we have this financial crisis."

Yet the consequences are not symmetric.

"He who goes borrowing, goes sorrowing," said Mr Cheng.

It was a quote from US founding father Benjamin Franklin.
Link Posted: 9/17/2009 5:03:33 AM EST
I agree, Obama will do more damage to our economy so Gold will go a little higher but I sure am not going to be jumping in at this point in the game. We need a major govermnent change and then gold will drop like a stone.

The problem is, I don't think I would sell gold and put it into stocks. The fing stock market keeps going up when the ecconomy is just aughful. I fully expect anouther major drop in stocks and this one to be worse then the first Obama crash. I am thinking about trying to pull more money out of stocks as I bet so are millions of others. I am just debating when to do it!
Link Posted: 9/17/2009 5:06:16 AM EST
I follow the seen on tv approach. When you start seeing them talk about it all the time on tv it has peaked. ie flip that house, the internet boom, oil prices etc. It might take a year or two for the crash but it will come soon.
Link Posted: 9/17/2009 5:11:30 AM EST
Originally Posted By Ninjaman:
Sell gold. Buy ARs and ammo.


Buy everything.

The key to surviving the unpredictable is to diversify. People who say you should put all/most of your assets into precious metals are just as crazy as those who say you should have none of your assets in precious metals. Buy a little of everything since no one can predict the future. Precious metals, guns, ammo, food, stocks, etc.
Link Posted: 9/17/2009 5:12:44 AM EST
The bottom line is that no one can predict with certainty the future price of any commodity or stock. If we could, we'd never have economic problems to begin with. We'll have no idea whether now was the time to buy or to sell until sometime in the future.
Link Posted: 9/17/2009 5:13:25 AM EST
Originally Posted By StraightShooter7:
When Carter was running the country into the ground gold reached $850 per ounce. Once Reagan took over and the economy turned around gold dropped to $300 an ounce.



Yup. Either the economy will turn around and gold/silver will loose 2/3 of it's value, or we will have a deathspiral that results in world war with everyone flinging nukes at each other.
Link Posted: 9/17/2009 6:41:44 AM EST
[Last Edit: 9/17/2009 6:45:31 AM EST by Indrid-Cold]
Gold is a value safe haven and hedge against inflation.

If we see a double dip recession, which would be better described as Great Depression Redux,
stocks will plummet (down to maybe 4000), dollar will fall in a currency event (.520 USDX or lower)
and gold will crash temporarily right along with it as investors liquidate holdings to cover losses.

Under those conditions, the people affected least are those with "stuff" to barter.

If the economy makes a recovery and this current rally is not simply a "Dead Cat Bounce",
gold will fall rapidly as investors move back into the market.

Back in the 80's when gold and silver rallied, I sold everything and bought a brand new car....in cash.
Link Posted: 9/17/2009 6:44:55 AM EST
Be smart if you buy some. A lot of people are going to lose money on their gold purchases.
Link Posted: 9/17/2009 6:48:41 AM EST
So would you cash in your gold for silver now?
Link Posted: 9/17/2009 6:52:24 AM EST
[Last Edit: 9/17/2009 6:54:41 AM EST by ronin_308]
What would be the price of gold if Israel attacks Iran? Isn't anyone worried about all the rumbling China is making about not buying anymore of our debt? What about the new Japanese government that does not want to buy anymore of our debt? What about Barrick talking about not hedging their gold anymore? What,what,what? There are too many what's these days to not own gold IMO. To each his own just like how the free markets should operate. Obama does not make me feel more confident about the USA.
Link Posted: 9/17/2009 6:52:38 AM EST
Originally Posted By Indrid-Cold:
Gold is a value safe haven and hedge against inflation.

If we see a double dip recession, which would be better described as Great Depression Redux,
stocks will plummet (down to maybe 4000), dollar will fall in a currency event (.520 USDX or lower)
and gold will crash temporarily right along with it as investors liquidate holdings to cover losses.

Under those conditions, the people affected least are those with "stuff" to barter.

If the economy makes a recovery and this current rally is not simply a "Dead Cat Bounce",
gold will fall rapidly as investors move back into the market.

Back in the 80's when gold and silver rallied, I sold everything and bought a brand new car....in cash.


How much is the car worth now?
Link Posted: 9/17/2009 6:53:43 AM EST
Originally Posted By FreeFloater:
Originally Posted By walt_l:
I got a call from Goldline yesterday saying gold was gonna hit $5K by 2015. I said I was busy but it did get me thinkin!


that means the dollar will be worth 1/5 of what it is today.

gold's value is inversely related to the US dollar from what I recall...

Can gold's value increase without the dollar's valule decreasing?


Gold is traded in $US. So when gold goes up the dollar is worth less relative to the price. The value of the dollar will fall against currencies that don't change compared to the price of gold.
Link Posted: 9/17/2009 6:53:46 AM EST
Still a good idea for long term, but if you buy, sell, trade often to pick up quick, small profits, it's not the time to buy.

However, if you really think the dollar is steady and has a strong future , don't buy gold as a backup, safety valve, or hedge on inflation.

Silver is still under priced by it's traditional ratio to gold. It should be somewhere around $20 an ounce. It's starting to correct itself up. It was shockingly low for a long time.
Link Posted: 9/17/2009 7:37:19 AM EST
Careful, for some reason many on arfcom hate gold like it's a vagina or something. They;ve never had it and never will, and as a result hey get up in a huff because they don't understand it. (but they claim to be experts on it)
I remember back in 2000-2001 when gold was low, around 250 an oz people told me it was stupid to buy gold. I'm glad I didn't listen to them and buy stock in starbucks like they did.
(BTW it was pretty much the same people saying gold is a bad investment in this thread)
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