Where is Gold going ? UP OR ?????

Bigdogg

What does everyone thing of the gold prices? Does everyone think they’re going up or continuing to go down? Let’s here from all the smart gold guys & Gals here
Thanks
Bigdogg
AKA Jim
God Bless America and our troops

topstuf

Gold is a crapshoot at this time. It has penetrated its 200 day moving average and that's not good. But we still have the smoke from the war that is clouding the SERIOUS domestic issues of deficit spending. We won't have an answer til the war is over, and at that time there will be something else to cloud it.
My bullion is for insurance. I will TRADE some gold stocks from time to time but only for short period.
Your question is probably 5000 years old and no one has ever answered it.
The fact that it is dropping even in US dollars is even more negative. The dollar ain't healthy either.

Coulport

No doubt about it.
Gold will go up and it will go down.
Not necessarily in that order though.

ANACONDA

It is my opinion that gold will go up over the next several years. But, like most markets, it's not going to go straight up. It will go up and
down. On any given day, it may be higher or lower than it is today.

But over the next several years, i believe the trend will be up.

The history of currency backed by the good faith and credit of the issuing nation, isn't very good.

adrian

topstuf

Gotta agree with adrian.

Long term.........up
Short term.........THROW up

paigowjohnny

I don't agree. Eventually, the investors of the world are going to decide to get back into the stock market. The war aside, I think the economy is finally bottoming out, and moves in the stock market generally preceed the turn in the economy. When the market turns, gold dies. Long term, I think gold goes nowhere. In the short term, if you've got some big stones and a fast broker or modem, you could profit trading gold. Lousy long term investment in my mind, though.

topstuf

paigow johnny, you could be right. However, the US is aging and FAST. Who is going to buy the stuff we make? We have closed almost all manufacturing plants here. Although our corporations have moved the plants to Asia in which case they may have an edge by selling stuff for cheaper dollars.
When the dollar falls, gold usually rises.
And the dollar is falling. We have a $503.4 billion TRADE deficit. That's almost a million an hour. To stave off a dollar selloff, we must attract a million an hour just to stay even.

Then we got another little thing like pissing off every foreign country except Japan and a couple others with our "war." Foreigners buy our treasury bonds. If they stop, we will have to depend on credit strapped US folks to fund the government. That means higher interest rates which would kill stocks AND gold.

Who knows? If you get an answer, PM me and we will get rich.

roadrunner

Agree with Adrian on this issue. However my definition of "long term" is the next 1-2 years (or longer). Gold will outperform stocks and other paper assets in this time frame until all the stock market bulls are laid to rest. So in reality gold is a shorter term play until the world's financial condition improves. And that's asking for a lot at the moment. There is still not one positive factor in any area of the US economy. Bonds and to some extent the bloated real estate market have been keeping things afloat for the past year or two. What happens when they finally fold up? Gold as financial insurance? Definitely....until our house of paper is cleaned up again.

roadrunner

Barry

Gold will go the same place it's gone for the last 20 years - nowhere.

Nedcoinage

smashing question and one in which I must point to financial history of the united states, post war economy has often been good. America will be in and out of Iraq very quickly and the economy will recover and we are not going to see gold anywhere near 400, if you thought about selling higher and are waiting for another opportunity you are indeed missing a golden opportunity now.