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Gold plummets below 400

AValdeAValde Posts: 299 ✭
in U.S. Coin Forum

Oh My !!

What's going to happen to the coin market ?

Comments

  • PlacidPlacid Posts: 11,299 ✭✭✭
    image
  • 1957joe1957joe Posts: 608 ✭✭
    my prediction comming true! I guessed $300 by the end of the year!
  • Dennis88Dennis88 Posts: 5,797 ✭✭✭
    My only gold coin will be worth less.................

    And, I will be able to buy my first US gold coinimage

    So good and bad news for me.

    Dennis
    VOC Numismatics
    Like VOC Numismatics on facebook
  • g097103g097103 Posts: 279
    Just a normal and expected correction. It'll come back up in its own time, nothing fundamental has changed.
    Scott M

    Everything is linear if plotted log-log with a fat magic marker
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    Well, I sold my entire hoard last week for $420/ounce! imageimage....all 6 ounces of it....image
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • RYKRYK Posts: 35,797 ✭✭✭✭✭
    I sold 10 oz at $424 two weeks ago. I still hold about 10 oz bullion with a basis of $330.

    Frankly, I have no idea where gold prices are going. There are a lot of folks here who are quite convinced that they do. It kinda cracks me up. We could see $350 before we see $450. We may never see $450 in my lifetime. We may never dip below $375 in my lifetime. We might sink to $300 and stay there for ten years. We might shoot to $500, pause, and then blow through $600. In the short term, I have no idea. Over the last 400 years, gold has roughly tracked inflation. Unless there is a new industrial use for gold that I cannot imagine (gold as an automobile fuel, etc.), I would expect it to do the same over the next 400.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    I can predict the answers now. The people that want gold to go up will say it's just a temporary correction and will continue to rise, and the people that want it to go down will say that it's just the start of the fall. I figure you got a 50% chance of being right either way. Whoever's right will say that they knew it all along and the those wrong will say that gold is a fickle market.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • agentjim007agentjim007 Posts: 6,256 ✭
    I feel like Kramer smirking at Jerry when he tells him how his stock is doing (going down). Who's buying today?
  • BearBear Posts: 18,953 ✭✭✭
    Easy come, easy go.
    There once was a place called
    Camelotimage
  • LovethoseIndiansLovethoseIndians Posts: 222
    The coin market "artificially" too high will faltten out somewhat, however, will still rise in my humble opinion
    God I Love Indian Head Cents more than any other coin!
  • razorface1027razorface1027 Posts: 4,242 ✭✭
    Glad I dumped a gold or two before it plumetted...image
    What is money, in reality, but dirty pieces of paper and metal upon which privilege is stamped?
  • g097103g097103 Posts: 279


    << <i>Who's buying today? >>


    Me for one.
    Scott M

    Everything is linear if plotted log-log with a fat magic marker
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    It's the END of the world! At least until 393 or so.

    However, since the deficit was erased last night, it should probably just go straight down to $32 again.

    image
  • agentjim007agentjim007 Posts: 6,256 ✭
    g097103. Got to admire you. It takes a massive set to buy today...good luck.
  • barberloverbarberlover Posts: 2,228 ✭✭
    I don't understand why gold would do more then just correct a little for people taking profits who bought it a year or two ago and want to lock in their profits. The fundamentals for a stable growing non inflation economy just don't look good to me and I don't own any gold so I have no vested interest in this but considering our deficit and debt situation as well as the world economy I see more reason for 500 dollar gold then 300 dollar gold.

    Of course I see no reason in this economy for the stock market to keep going higher much longer either.

    Les
    The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
  • AValdeAValde Posts: 299 ✭

    Negatives
    ========

    1. Fed interest rate hike possibility

    2. European Central Bank gold sale

    Positives:
    ========

    1. Japanese interested in acquiring gold for their foreign reserves
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    Dear Mr. Barberlover,

    You are hereby ordered to the nearest re-education camp. Your reasoning is far too sound and as such, dangerous to the community.

    500 gold indeed! The ravings of a lunatic.

    SAVINGS BONDS!

    Stocks!

    Only when our citizens are completely invested in ephemeral paper promises will the world be safe.

    For shame!
  • barberloverbarberlover Posts: 2,228 ✭✭
    Topstuff!!!

    All I can say to that is imageimageimageimage

    Les
    The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
  • RussRuss Posts: 48,514 ✭✭✭
    I'm going to love reading the postulations of all the gold bugs in a year or so. I've been saving all these threads for entertainment purposes. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • jeffnpcbjeffnpcb Posts: 1,943 ✭
    Euro goes down, don't buy!
    Euro goes up, buy!
    Simple rules for simple people and keep following the money flow!
    HEAD TUCKED AND ROLLING ALONG ENJOYING THE VIEW! [Most people I know!]

    NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!

    WORK HARDER!!!!
    Millions on WELFARE depend on you!
  • cladkingcladking Posts: 28,630 ✭✭✭✭✭
    Short term moves have little mening usually. It is certainly interesting and may
    portend things to come but the fact remains that the dollar must weaken more
    to achieve greater stability. This can occur in several ways but they all lead to
    higher gold prices relative the dollar. If gold prices were to become highly erratic
    it would likely signal resistence of foreign governments and markets to a lower
    dollar.

    In any case this bull market in coins was not built on the increase in the value of
    gold and silver and should be highly resistent to any change in their value.
    Tempus fugit.
  • atomicatomic Posts: 168
    The Fed floated a trial baloon yesterday, in effect saying they might perhaps some day maybe even this year raise interest rates just an itty bitty bit. The markets answered: the bond and stock markets sold off, the dollar rallied and gold tanked. Message to Fed: Too soon to remove the jumper cables... remove the cables and the engine will stall. In fact, just talking about a rate hike might have killed off the nascent refi boom that was just getting started again after coming to a halt in August. But maybe they are finally worried about a housing bubble. Who knows.

    The dollar will recover its downtrend and everything else, including gold, will get back on trend. The Fed will be careful not to change their language until the "recovery" appears to be self-sustaining... jobs and incomes increase.

    Estragon: I can't go on like this.
    Vladimir: That's what you think.
    - Samuel Beckett, Waiting For Godot
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    I sincerely hope that gold prices continue to decline back to $250-$275 so that I can better afford to purchase lots of U.S. $20 Gold Liberties and Saints image

    I don't expect it to happen, but I hope that it does because I like to purchase gold coins when they are cheap!! image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    Russ, are yoo sayink I.....AMUSE.....yoo? Like yoo tink I'm ......FUNNY? Like yoo tink I'm maybe a ....CLOWN?? Vinny, git me my rod.

    Actually, it IS amusing, but I think the greatest entertainment value would be to see EACH OF US prosper greatly from WHATEVER we choose to invest in.

    Nothing is right for everybody. I'm into gold (bullion coins and generic twenties) because I am not seeing GOOD surprises from the economic front. The rise of the stock market is (in my opinion) due to massive inflows of mutual fund buying where the funds HAVE to spend the money they get in the mail every Monday morning.

    I am also into bonds, commercial real estate, rare coins, ONE spec stock, silver and ....CASH! ...just in case my take on what I perceive to be a headlong rush into disaster from debt, pension failures, and the already publicly stated anticipated failure of Social Security does NOT prove to be the cataclysm I think it will be.

    The thing that matters most is being quick to change in any necessary direction.


    But I ain't gonna shootcha in da foot.


    image
  • BigAlanBigAlan Posts: 311 ✭
    I remember when the gold sellers were predicting $3000/oz. I'm glad I didn't buy any at $800/oz.
    "It is good for the state that the people do not think."

    Adolf Hitler
  • EthanEthan Posts: 315 ✭✭
    Well I do see a drop in the near future with the Germans dropping quite a bit on the market, but I am not highly invested i GOld. I would rather see Silver goto $50 again. I would sell this time. I was 14 years old and had 8k in silver.........most paid face value for.


    In the meantime I will be panning for the free Gold....image
    "A gun is like a parachute. If you need one, and don't have one, you'll probably never need one again.

    “I want you to remember that no * ever won a war by dying for his country. He won it by making the other poor dumb * die for his country”
  • nankrautnankraut Posts: 4,565 ✭✭✭
    Oh, Oh! The sky is falling; we're all gonna DIE!image
    I'm the Proud recipient of a genuine "you suck" award dated 1/24/05. I was accepted into the "Circle of Trust" on 3/9/09.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Russ, pencil me in at gold ending the year at $450 or higher. How come when gold falls to under $400 it's a "plummet?"

    Nothing has changed in the market to affect the long term on gold.
    The Germans are going to sell 5 tons of gold? So what, the Japanese and Chinese will scarf that up in a heartbeat. Zero effect. The scaredy cats have been selling off some of their gold the past few weeks. It's a normal cycle, at least so far....just like the stock market cycling up during this bear market.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold

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