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What will be the bottom for Gold, Silver and the DJIA?
DoubleEagle59
Posts: 8,200 ✭✭✭✭✭
With all the good economic news in the markets today, I couldn't help but think at what value will these markets bottom out at.
So with that in mind, let's have your take on the very lowest these three key indices will bottom out at when all this financial turmoil is finally over.
I'll start things off..................
DJIA 15,500
Gold $1425.00
Silver $13.85
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
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depends on when the virus peaks and when the FED bottoms.
Give Me Liberty or Give Me Debt
with americans feeling independant and liberty it would seem harder to contain an outbreak.
so no guess from me since this could go on for a lot, lot longer tan it has for china
I'm talking when the markets finally overcome this (whether or not it takes 2 days or 2 years) what will be the historical LOW for these indices.
Come on, take a guess, be daring.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Give Me Liberty or Give Me Debt
I do prod people into guessing games
gold - 1300
silver - 14
djia - 15000
I guess we’re about 20 % above the bottom on the Dow, so I’ll guess about 17,000.
I think we’ll reach that pretty quickly, then end the year about where we are now.
People who got out after the first 10 % hit were wise; people who bail over the next few weeks are the usual panic sellers.
With respect to gold, I’m clueless, though I suspect we are already near the bottom.
Prices tend to collapse to the aggregate cost of production.
Profits will be down for a while
Liberty: Parent of Science & Industry
djia - .50 cent
the rest of it who knows
At the office yesterday for a team meeting, we were prepped about raises/bonuses/employment being impacted.
My wag:
djia - 18500
gold - 1350
silver - 14
And to keep things focused on the positive-with each 10 % decline, we lose less money.
I am amazed at what happened to gold and silver prices today.
And BIT COIN too. Collapsing.
The markets will recover. Gold and silver will recover. Not so sure about Bitcoin.
I had several calls today from the so called would be gold holders, wanting to know how come there gold was losing value as the stock market was tanking, I said because in crisis mode, folks want cash !
When will the number of CV cases be higher than the Dow?
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gold is right where it was one month ago.
DJIA is down 28% over the last month.
Give Me Liberty or Give Me Debt
When a silver Eagle trades for a roll of toilet paper, then you know the bottom’s near.
15,000. The economic impact will be tremendous. Imagine: drastic reduction in flights, rental cars, hotels. No college, no school, no baseball, no basketball, no hockey, no NCAA tourney, no Broadway, no Disney, no tourists from Europe, working from home, no real in-person client contact...less eating out, less taxis, all downstream effects... Hysteria, no end game. No cure, nothing will be different in 10 days except it will be worse. Even church is cancelled.
He who knows he has enough is rich.
What about an online degree from Harvard? That is all they are currently offering.
Maybe economists will have to learn in the real world.
Give Me Liberty or Give Me Debt
I’d be guessing. I plan to just watch and let reality sink in.
I knew it would happen.
the stock market was over bought before it stared going down, it will never fully recover. not sure about silver, not worried about gold, in the end gold will be the last one standing strong
Hard to tell with the stock market, as they can suspend trading at will. Let it roam/chips fall where they may to get a real reading of the market.
Was that PI?
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
No guesses from me.... I will just sit here and watch....More fun that way. Comfortable, secure, warm and well fed.... Cheers, RickO
I would give up my day job if I knew.
Dropping like a rock again this morning.
Click on this link to see my ebay listings.
Well, It is Friday the 13th.
Fixed it for you.
Any guess on my part would simply be a WAG... with a storm like what has hit the country and world right now, I would have no basis to make a judgement on.
Looks like it was...
DJIA 18214 ... now up 29% from low
Gold $1457...now up 19% from low
Silver $11.64...now up 34% from low.
Knowledge is the enemy of fear
Bear rally. stimulus cheer will fade into reality.
Give Me Liberty or Give Me Debt
There is a lot of time left before the year is over. All of the items in question, will be higher by years end over the March 12 figures.
Define "Finally Over"
What will be the 'lows' for these groups when the markets have recovered and their prices are much higher.
Put another way, in 5 years when we look back and say 'we should have bought then' what will these lows be?
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Very possibly this...
Knowledge is the enemy of fear
+1
Folks in paper gold products wanted their cash back. I doubt there was much physical gold trading hands as premiums started to sky rocket....to the point the London Bullion Market wouldn't even honor gold future's contract for actual delivery. All to do about nothing.....as gold recovered to previous pre-crash highs in just 9 days.
People don't know what they want in crash mode....other than to stop feeling the pain of seeing their accounts shrink. Though that is too often soon replaced by the pain of seeing markets recover while they're out.
Really? Because a historic event is right about to happen again ("The Halvening"), during which many believe it'll skyrocket.
I've been using it for my business for 18 months. MyCelium wallet no big deal, a few private sales here and there. I knew I couldn't get too emotionally invested in it, so this is the perfect way to sideline and just accumulate. Casual observer has really helped me remain balanced about my outlook on their market.
I started running specials when btc was down and siphoned up coins and paid my contractors in BTC when it was up. Essentially, bitcoin paid my contractors to work last year, and I'm even more ahead than before. It's all free to me and I can't spend it so let it pile and use it to exchange other resources.
It only really sucks if you let it suck, or I guess if you don't know what you're doing, or if you're utilizing it for the wrong application. Just like gold, cash.. I mean, I'll casually let it grow but I won't invest USD or Au/Ag into it. But having an amazon balance, bitcoin, cash and gold sure feels a lot better than having a BoA checking account. Realistically, having been watching closely the past 90 days, it's remarkably resilient. And I'm happy to keep all my coins there and have had plenty of chances to cash out or swap for gold.
DJIA will dip below 10K
bottoms won't matter with gold and silver, the new highs will make the bottoms a long lost memory to those that didn't take advantage of them.
Give Me Liberty or Give Me Debt
All 3 have seen their lows for 2020. I think gold is the best of the 3 from current levels.
Silver has no catalyst. Has been the case since the demise of Kodak.
Massive Fed action works best for Dow Jones Industrials, but there is a general over optimism about the recovery.
Copper might be better than all 3.
After watching crude oil prices plummet, all of my thoughts on gold, silver, and the stock market are out the window. I believe all asset classes are in for a wild ride. Buckle up ladies and gentlemen.
I am still clinging to the "hold the physical" mindset to weather the storm.
Excellent transaction with: ffcoins, Proofmorgan, fivecents, MorganMan94
I've said before and will say again, when you play these markets you are playing chicken with Billionaires, in the case of gold Trillionaires (govts). You pays your money and you takes your chances. In the oil markets, even the billionaires got hammered. Also remember that you are playing a very complex game against someone who can change the rules whenever they want. Think about people who were shorting junk bonds a few weeks ago, when for the first time in history, the Fed stepped in and bought them. Oops.
The 1-2 year bottom for PMs was seen in the last three weeks. Bull market beginning.
Give Me Liberty or Give Me Debt
I'm believer in ignoring the extreme views from both sides. As such, I've been unloading silver at unbelievable premiums above spot (30-50%)...Who knows how long it will last.