GOLD AT 1,800 IN APRIL

coinpalice · February 21, 2020 12:18PM

it is possible that gold could hit 1,800 by April. what is everyone that has stacks of gold going to do with their new found wealth? i will sit on the sidelines and watch it go up. anyone buying now?

Smudge · February 21, 2020 12:33PM

I’m on hold.

Smudge · February 21, 2020 12:34PM

This belongs in the PM forum.

markelman1125 · February 21, 2020 12:37PM

I reached just over an ounce in my collection, if 1800 is true I must get more before it dose get that high

ChrisH821 · February 21, 2020 12:46PM

I sold what I wanted to in the mid $1500s. Oh well

jwitten · February 21, 2020 12:53PM

Just sold a couple ounces a couple days ago, darn it! lol

topstuf · February 21, 2020 12:54PM

I don't even track my "sleep well" savings account.

coinpalice · February 21, 2020 1:01PM

yeah I don't either, I do need a 2nd car as a back up as my daily driver is old and has 250,000 miles on it

topstuf · February 21, 2020 1:43PM

The old car on blocks is my IRA.

blitzdude · February 21, 2020 2:07PM

Buying at these prices? No way. Getting ready to dump most of it like a bad habit.

coinbuf · February 21, 2020 2:10PM

I doubt that it will get to $1800, but if it does I may look to sell my bullion holdings.

291fifth · February 21, 2020 2:17PM

I have no idea. The big players don't consult with me.

Elmhurst · February 21, 2020 2:26PM

The long term trend is up, but you can't predict what the price will be at any date.

Downtown1974 · February 21, 2020 2:34PM

My plan is to leave my gold to my kids as part of a diversified inheritance (cash, real estate and gold). The uptick in spot really only matters to me as a buyer. With spot prices at current levels, it may be time to pump the brakes on future purchases.

PerryHall · February 21, 2020 2:41PM

@jwitten said:
Just sold a couple ounces a couple days ago, darn it! lol

Thank you.

fivecents · February 21, 2020 3:39PM

Trunk is ready joe pesci.

crump41 · February 21, 2020 7:19PM

Has anyone actually tried to sell any gold locally, and what kind of offers did you get?

Much of my gold is pre1933 generics (raw and slabs) and AGE/AGB. If they would bring melt, or a touch more, I'd dump them all. But, generics have been in the crapper for premiums for years now. And now, with the price run-up, I imagine more have come to market. 10% back of spot - I'll keep them.

I do have a use for the money though - looking to buy a house.

derryb · February 21, 2020 8:32PM

Minsky Moment is coming for gold

ricko · February 22, 2020 8:01AM

@derryb....Thanks for that link...Very interesting and well written. Sure wish I had a working crystal ball... Cheers, RickO

3stars · February 23, 2020 10:32AM

Of course gold is up, the new queen’s beast comes out in March...

metalmeister · February 23, 2020 10:43AM

$2020 in 2020

MilesWaits · February 23, 2020 10:50AM

@3stars said:
Of course gold is up, the new queen’s beast comes out in March...

Have you found the design for 2020 that is being released in March?

3stars · February 23, 2020 12:03PM

@MilesWaits said:

@3stars said:
Of course gold is up, the new queen’s beast comes out in March...

Have you found the design for 2020 that is being released in March?

Haven’t seen one yet. Hard to believe this is the last year already.

blitzdude · February 23, 2020 5:33PM

Anyone catch the dip?

blitzdude · February 23, 2020 5:37PM

Pt was looking good, for a nanosecond lol

coinpalice · February 24, 2020 7:38AM

gold up 35/ounce this morning, this looks like 2011 all over again

MilesWaits · February 24, 2020 8:28AM

$1800 is coming.

Walkerguy21D · February 24, 2020 8:53AM

@MilesWaits said:
$1800 is coming.

Since I dumped my NUGT and GDX holdings this morning, you are probably right!
Holding on to my hard assets with both hands though.

MilesWaits · February 24, 2020 9:35AM

@3stars said:
Of course gold is up, the new queen’s beast comes out in March...

https://apmex.akamaized.net/Content/cms/landing_pages/sweepstakes/672x446_Queens-Beasts-White-Horse-1oz.png

MilesWaits · February 24, 2020 9:36AM

3stars · February 24, 2020 3:34PM

Nice, but they seem to be getting a bit repetitive (looks a lot like the unicorn)

jmski52 · February 28, 2020 7:50AM

At this rate, $1,800 is a possibility by April. Or not. Volatility is the order of the day.

Re: Queens Beasts - I'm still pretty impressed with the quality of these bullion coins.

Sidenote - I'm glad I decided to go with the 1/4 ozers instead of the 1 ozers. (Left me more money for the 10 oz silver and 1 oz plats, both of which are getting cheaper).

ricko · February 28, 2020 7:58AM

I have serious doubts about $1800 gold by April.... Now it looks like money flowing out of PM's to buy cheap stocks...or perhaps other safe havens such as cash. Cheers, RickO

coinpalice · April 13, 2020 12:26AM

gold just broke 1,700, I might of called this

Kliao · April 13, 2020 9:16AM

I got a surprise today when I saw gold break $1700

coinpalice · April 13, 2020 9:22AM

well, there are 18 days left this month, so the gold paper trade could get close or even hit 1,800, but physical gold is closer to 1,800 already, if not more, if your buying graded pre-33 gold, it's already there plus some

OnlyGoldIsMoney · April 13, 2020 9:27AM

I hit my lifetime gold accumulation goal in 2019 (started in 2009). Since I plan it sell it off an ounce a month over a long retirement, my only short term plan is to continue updating my Net Worth calculations as part of retirement planning.

RonB · April 13, 2020 10:43AM

I believe it will drift higher, may eventually hit $2000. in the next year. -And then come back down. This Covid-19 problem will take a very long time to resolve, the economy will eventually recover albeit slowly, in fits and starts, with many disappointments in between. Be wary of anything moving at parabolic rates, they tend to end badly. Cost average, use common sense and stay focused on your big picture.. Take care always.

Bochiman · April 13, 2020 3:17PM

This thread amuses me

I didn't notice it until late last night/early this morning, and reading the responses, and the dates they were posted, I found it fun....

The OP may have hit it on the head. 17 more days to go and less than $90 to go....and it wasn't that close 2 months ago.

jmski52 · April 13, 2020 3:28PM

I believe it will drift higher, may eventually hit $2000. in the next year. -And then come back down. This Covid-19 problem will take a very long time to resolve, the economy will eventually recover albeit slowly, in fits and starts, with many disappointments in between. Be wary of anything moving at parabolic rates, they tend to end badly. Cost average, use common sense and stay focused on your big picture.. Take care always.

+1

Overlay that chart on total debt and you've got something.

golden · April 13, 2020 5:10PM

I would not bet against $1800.

roadrunner · April 13, 2020 8:07PM

@derryb said:
Minsky Moment is coming for gold

I don't know. This last "rally" since 2018 (and even the one since Dec 2015) is much "hated" by the general public. There are few believers, mostly doubters, even up here at $1700/oz. I guess it was sort of similar during the last run back in 2010-2011 when gold ran from around $1045 to $1911.....when the vast majority were still anticipating gold back to $200-$700 again. About the ONLY time euphoria came last time around was August-Sept 2011. It was still doubted and sort of hated in early 2011.

Euphoria today? Where? I don't see any. Gold is disliked even more now after that horrible 2011-2015 correction. Everyone keeps on looking for the next big dump....even me....lol. Maybe that Minsky Moment comes at $2400? Or $3500? Or $5000? It's surely coming though....maybe next week? Markets always correct.....that doesn't surprise any of us. Gold tends to run in 20-22 month cycles. This is month 20. May would be the primary target month for a peak.

Bochiman · April 13, 2020 8:49PM

I think gold will go up, and down, but extend its run-up for a bit...until a lot of the covid-19 stuff calms down (ie...after the next uptick and then downturn of cases reported)

DrBuster · April 14, 2020 5:15AM

I know a few folks who are firm sellers at 1800.

jmski52 · April 14, 2020 6:07AM

This last "rally" since 2018 (and even the one since Dec 2015) is much "hated" by the general public.

That means Bloomberg News and CNBC? Maybe it's just me, but it seems that when gold has a run, any dramatic rise is "caused by speculators" and is always disparaged by the people who didn't buy it low.

As long as people's 401Ks and other assets are pumped up by massive money creation, they don't care how it's being done. Reality has no place in MMT.

fivecents · April 14, 2020 6:37AM

With all the B52 carpet bombing of money being dumped by .GOV into American's hands, even the children's hands. How can gold not go parabolic? Why not $2,500 an Oz or more?

MilesWaits · April 14, 2020 7:34AM

$1785,:uh huh.

metalmeister · April 14, 2020 7:56AM

I bought some N95 masks last year for the wild fires. Cost about 0.70c each in box of 20 . I see N95 masks are being sold the US government for up to $7 EACH. Inflation will be random going forward. Gold has nowhere to go but up. IMHO

coinpalice · April 14, 2020 10:43AM

I bought 10 N95 masks on the secondary market for 50 dollars. after making about 10 trips to Walmart and not finding any, I paid the premium, because I want to keep safe at work and runs to the store

joeykoins · April 14, 2020 11:01AM

You are the MAN!

derryb · April 15, 2020 4:26AM

The growing disconnect between futures contract current spot price and contract price into the future shows that there is a growing lack of confidence in the future delivery of physical metal by the COMEX and LMBA exchanges with COMEX in particular having delivery problems. COMEX just raised its maintenance requirements to battle the demand for physical delivery as its vaults hemorage physical metal.

This has already resulted in record high premiums for physical metal at the retail level and will likely lead to new highs for gold and possibly for silver. The months ahead could lead to the eventual downfall of the COMEX itself as it moves closer to defaulting on the physical delivery of 100 oz gold bars that its contracts guarantee. Its only escape is to continue raising maintenance requirements and/or changing the language of their its contracts. Facing a shortage of "good for delivery" 100 oz. gold bars, COMEX recently changed its contract "language" to include "delivery" of fractional ownership of 400-oz London (LMBA) bars.

Current retail premiums are strong indicators of what the precious metal market would look like when physical metal price is determined strictly by the laws of supply and demand without the influence of fractional buying/selling of unlimited paper promises.

COMEX is unraveling

GOLD AT 1,800 IN APRIL

Comments