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Heading to 1450
mapleman
Posts: 1,052 ✭✭✭✭✭
Gold looks like it will break 1450. My guess is it will continue north for a while. I've been wrong a few times but if it hits 1470 I'm gonna sell a few ozs and wait for the next dip. Any thoughts on this strategy?
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If you sell at 1470, then at what price would you teplace it?
Knowledge is the enemy of fear
Sounds like a plan Jules.
Not letting go of my gold anytime soon. Unfortunately with prices creeping up, I will not be adding either. Bad timing for starting my gold type set.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
I agree completely Bob. What I'm thinking is a small hedge sale, Take some cash and hold the rest. I'll see where spot goes after 1470.
Depends on if it dips below 1470. I'm willing to roll the dice on a dip but wont buy at a loss. At 1470 I'm fine with small sale. The AU balance will be held.
i bought most of my gold in the 300-1,200 range. willing to wait for a seller promo to sell some. don't need to replace any, have way more then enough
Nice position
I'm guessing there will be strong resistance to !500 But I'll be happy to see it.
yeah, there will be some major resistance at 1,500, that will probably be broke once the feds drop the interest rates by .5 percent. the dollar will drop like a fly. after 1,500, could see 1,700 by late 2020
The problem with selling now and buying to replace is not knowing what demand will be. Right now demand is soft - my local B&M's are paying below spot for AGE's. The deals we are seeing on eBay ($15 over spot) could disappear and the premium ticks up. Might see a nice drop but not much of a delta from where you sold and where you buy...
Sure hope so. I'm just hedging a little here.
I think that strategy would simply be "churning the account".
I knew it would happen.
To a point I agree but there is a potential upside if the market dips and I'm willing to risk a few ozs profit for immediate cash. All of this could be academic if it doesn't hit 1470 but I think ill do it.
It is interesting to watch.... I have a lot of gold purchased from $300 to $700....so plenty of room for profit if I decided to sell - which I will not....$1500 will be a tough barrier, so I think we may not see that at this time....There are, however, a lot of things happening in the global and local economic world....Fun times ahead.... Cheers, RickO
Down $18. Somebody didn't want gold rising too much.
I knew it would happen.
Typical Friday.
Rhodium only one in the green today!
It's all about what the people want...
...and it's gone, back to the black
It's all about what the people want...
So, Iran has seized,two UK tankers in the strait of Hormuz. Could be time to fasten seat belts.
This is an act of war and an attack on Britain is an attack on NATO. This will not turn out well for Iran. If war beaks out they can kiss their nuclear weapons program goodbye.
Worry is the interest you pay on a debt you may not owe.
My thoughts exactly. I don't see a peaceful resolution.
iran will be a MUCH harder war than Iraq.
there are people who will actually fight for iran instead of surrendering en masse.
Will require massive force. No pussyfooting here. Infrastructure and nuclear capability plus military C&C first. Populace could rebel. Tough row to hoe. Fortunately we have capability in region. And then there is the Russian factor...........
I don't see a ground war. Just bomb them into the stone age.
Worry is the interest you pay on a debt you may not owe.
Time to say goodbye to the Mullahs.
Nothing $10 trillion in debt cant fix.
Knowledge is the enemy of fear
Nobody, and I mean nobody (except maybe Bolton) wants an all out war out of this.
Trump must surely know he would be absolute toast with the American public if he let it get that far. In addition, he wouldn't have an ally in the world to help him.
Here's a warning parable for coin collectors...
Trump must surely know he would be absolute toast with the American public if he let it get that far. In addition, he wouldn't have an ally in the world to help him.
As of now, this is technically a British, then Nato, then US, then world issue. The "allies" will always come running when they need backup. It will be interesting to see how Turkey and Israel posture around this. They both always benefit at no cost when we get involved in the Middle East. Neither really helps us much, in my opinion.
Putin is probably pulling a few strings behind the curtain as well. He shoulda, coulda, woulda, might've been our ally against the permanent de facto threat of Islam, but that's gone. Europe is pretty much a very sick man in that regard and they don't even realize (or care) that in cozying up to Putin, they are putting their own energy dependence into the hands of the guy who will cut off their natgas pipeline in the dead of winter if they piss him off. Lots of strange bedfellows around the world right now.
I read recently about some of the US's secret programs including the "flying toaster". Now we are about to see who has the best flying toasters. China apparently tested one of theirs in the South China Sea against one of our destroyers about a year ago. There has been another such incident, but I forget the specifics. The Boeing avionics mishaps might also be implicated in some of this.
I still find it odd that silver and gold aren't reacting like they did in '79 when Iran last acted out in grand fashion. We still have mushrooming debt, and oil supplies are being threatened and geopolitical tensions are on the rise. The main difference I see is that the banking cartel has long since managed to grab more control of asset valuations and economic perceptions via Graham, Leach, Bliley (1999), derivatives trading and HFT.
Probably time to buy "defense stocks" if you're really into money and profit. We should really be paying more attention to breaking up the media cartel instead of military adventurism. And so it goes, but along the way I suspect that the barbarous relics will make an interesting imprint on world finance. We live in interesting times.
I knew it would happen.
if you're really into money and profit
That's an interesting comment jmski.
Knowledge is the enemy of fear
I'm interested, sign me up.
Keep an open mind, or get financially repressed -Zoltan Pozsar
I am as well, but perhaps i read jmski incorrectly as it seemed as he thought profit motive to be an ill.
Knowledge is the enemy of fear
perhaps i read jmski incorrectly as it seemed as he thought profit motive to be an ill
You read him incorrectly. Any profit being generated needs to be evaluated in context. Defending yourself from those who wish you harm isn't a sin - it's a sacred duty and obligation to everything important to you.
However, placing your soldiers in harm's way for less than noble purposes is unconscionable, and military adventurism is not a good thing. These decisions are rarely black & white, and subterfuge is essential in today's world, just as it was in the time of ancient Troy. That's why presidents, even the incompetent ones, age so fast in office. The job cannot be done perfectly.
There are so many cross-currents in today's financial and political world that you simply have to do your best.
My reference to breaking up the media cartel is absolutely what I meant. That would also include the current world banking order, per this educated and prescient vanguard of American thinking, from a couple hundred years ago, but they didn't have mass media companies then. The quote should be modified to include "mass media conglomerates".
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
Thomas Jefferson
I knew it would happen.