$425 or higher new baseline for gold?
northcoin
Posts: 4,987 ✭✭✭✭✭
I see gold is over $430 an ounce. I do not recall gold breaking the $425 an ounce figure for years. Does this suggest that the new baseline will be $425? I know some of you are experts in the commodities markets and it is from you I would welcome a response rather than the usual stupid comments that most of us offer who have no idea one way or the other.
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<< <i>I see gold is over $330 an ounce. I do not recall gold breaking the $325 an ounce figure for years. Does this suggest that the new baseline will be $325? I know some of you are experts in the commodities markets and it is from you I would welcome a response rather than the usual stupid comments that most of us offer who have no idea one way or the other. >>
I assume you mean $430? I'll buy all the gold you have at $330 an ounce, or even $350 -- up to the limits of my savings account and credit card balances...
The 1st and last 3rd's of this article are pretty enlightening. The middle third is dry as the desert. This sums about every issue I've seen discussed on the + and - gold. Must reading if you want to see what the gold bugs are seeing. I was impressed on how thoroughly the topic was covered. Whether it's reality or not to you is up to your own set of values. Required reading imo. To those doubting Thomases, gold will have to hit $1000 and the DOW hit 6,000 before they concede that maybe PM's still have a role in the world's monetary system.
John Hathaway discusses gold covering the past 75 years.
Jim Sinclair posted an interesting piece today stating that the currency markets (in particular the US dollar), are starting to break away from the "spin" control of the FED, interest rates, and other factors & economic indicators that have kept it behaving for the past decade or two. The major movers in the gold price are shaping up to be 1. the current account deficit 2. trade imbalance 3. Federal Budget. The big "3" are a tough nut to swallow, let alone fix.
Have fun with your "gold" coins. The trend is your friend.
roadrunner
<< <i>To those doubting Thomases, gold will have to hit $1000 and the DOW hit 6,000 before they concede that maybe PM's still have a role in the world's monetary system. >>
They certainly have a place in my retirement portfolio. I moved to an asset allocation model in my primary rollover IRA in 2001. I put 4% of the portfolio in gold (Hathaway's Tocqueville Gold fund, to be specific). The S&P 500 was down 22% in 2002. Tocqueville Gold was up 79%. Overall I was only down 5% that year. I slept well when many panicked.
(or "stupid' depending on one's reference) until early this year. I took a massive whack to my 401k in 2001. That was a bummer since I had avoided the bid drop in 2000 altogether. But with a recent change to my plan I can now place essentially anything offered on the major exchanges into my plan. I moved 10% of my 401K into the Toqueville Gold Fund also. Other choices I was considering were USAA PM's and Scudder....but I finally chose Tocqueville as it was easier to deal with through my 401k plan. The one thing I found odd was that none of the big gold funds seemed to offer a full "non-hedged" group of gold companies. The best I could find was about a 50-50 mix.
roadrunner
years it will likely have been in a downward spiral for sometime and will
be under $390 in today's dollars. You need to get out of gold before the
inflation numbers start looking better.
12 years is a long ways away. Before that downard spiral occurs, some very strong runs will occur. Gold will perform until the stock market is decimated. Imo that has yet to occur. When it does, you and I will both be out of gold and looking for some cheap stocks to put away.
roadrunner