Dow's in the tank and gold on the upswing?

HoosierDaddy

Spot gold is currently popping on or above the $370 mark. How long 'til it hit 4? My intuition is saying within the next 20 weeks...Silver to break $5 by the end of April...

Any thoughts?

gsaguy

I'd be selling gold into a higher market (the reverse of dollar-cost averaging on the way down) and don't look for much movement on silver.

Having said that, I know NOTHING!!! After 20 years in the oil business almost every prediction I made was wrong....unless I wanted to wait long enough!

GSAGUY

Lakesammman

Received my portfolio analysis today. They mentioned 2 trillion in US money market funds that's out of the stock market, waiting to do something more meaningful than collect 1.5% interest....could help explain the movement up in gold, coins, art, etc.

MrKelso

<< <i>I'd be selling gold into a higher market (the reverse of dollar-cost averaging on the way down) and don't look for much movement on silver.

Having said that, I know NOTHING!!! After 20 years in the oil business almost every prediction I made was wrong....unless I wanted to wait long enough!

GSAGUY >>



SILVER
01/30/2003
13:24
4.84
4.87
+0.07
+1.47%
4.76
4.92
Silver will hit $5 bucks shortly.

gsaguy

Kelso,

See, I was right. I do know nothing!

GSAGUY

eagle7

Dont know what will happen in the future. I know what is happening right now and I know what happened in the mid nineties. Right now ms63,64 and 65 Twenty Saints are increasing in price so rapidly that they are becoming hard to buy. In the mid nineties I could sell at wholesale five indians in ms 63 in PCGS holders for 1500 to 1600 dollars. Gold was only 400 and oz. They are moving up in price now as well, just not at fast as the saints. MS 65 Ten Indians have exploded. PCGS coins are impossible to find and NGC coins in that grade sell as fast as they are put on the market. If you own these coins sit on them a while. If you want to buy, you have just about waited too late.

parkave

Gold has seen several breakouts in recent weeks, a pull back would not be out of the question. I've advised clients to take your profits and buy on a dip or better yet buy $20 St. Gaudens and Libs, which have outperformed even gold in recent weeks.

They will surely dig up more gold, but they aint making any more Saints and demand has been far greater than current supply. Simple economics.

roadrunner

The hedgers and shorts are fighting hard to try and make some money (or not lose any more) When they fail and realize they could not manipulate the market, the springboard reaction to $400 could be very swift from where we are now. $400 is coming very quickly and generic gold will benefit very nicely. I didn't realize $10 Indians were becoming a hot commodity. I thought they were high at $2200. Like Bill Jones said, they are usually overgraded and to find an honest solid PS 65 might require you to look at 10-20 pieces. But as gold gets hotter, generic gold coins will probably trade essentially sight unseen again.

roadrunner

KlectorKid

I dont have any gold to sell. I'm sticking to the small denom. Till after gold crashs down into the $350's. I'm thinking it wont be long till gold hits the big 4-0-0. With as much movement in the market already I will have to go with April or May.

MJCoin

I'm almost, always wrong too, but I honestly beleive gold will hit $400 by February 8th, if not sooner.
We could have a contest, Any one else got predictions?

eagle7

By Feb 15 gold will be over 400.00.

michael

i thihk gold will see 500 before it sees 300 and i think saints in ms64 generic but nice coins in ngc pcgs holders will see 1000 before they see 500 again

but i guess only time will tell

for me after seeing generic saints the last 30 or so years i have dound that neat nice coins with grreat lustre and no spots stains problems are fast becoming numismatic coins!

also i am not surprised at the explosion of ten indians i net the japanses are the buyers of these coins as usually in the past they are the biggest overall buyers of ten indians

and i think thast as far as saints go generic ms64 saints pcgs ngc they have been the biggest buyers as of late!

for me these above coins are much much better than bullion gold!

sincerely michael

again only time will tell

coinkat

I am not predicting when gold will hit $400, however, if there is over $2 Trillion on the sidelines, the money will flow into stocks at the sign of a tech turnaround as well as positive earnings. Gold will mostlikey stay in a trading range but that range includes a level above $400 perhaps as high as $420. Some short term pull back would be healthy, but there appears to be buying on the dips. What is going to happen is anyone's guess. Traditionally, the stock market does well in the year prior to a Presidential election, however, January hasn't been a good month so we'll have to just sit back and watch for a while.