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Gold is going to 1k this week? Edited"not this time"

jdimmickjdimmick Posts: 9,691 ✭✭✭✭✭
in Precious Metals
I admit I thought the PM rush was over, but with the bailout, and tremendous devaluation of the dollar, and OIl price surge, I beleive we may see 1k gold this week

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I don't know about $1000 gold, but today's drubbing of the dollar was one of the quickest poundings it has endured in years.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭
    I think when you get violent swings in the market in a certain direction, that usually means the opposite is going to happen.

    A bull run in gold usually has a slow, steady move upward. This was too fast IMO, and I think we will drop from here.

    Just a guess.
  • MORGANHUNTER2MORGANHUNTER2 Posts: 4,473 ✭
    Gold can go to 2K- but if the market drops another 300 - people are hitting the banks and yanking everything out.

    Hope we all have a small stash of intangibles to last at least 3-5 weeks until the fed can realize their mistake on the bailout.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    maybe it will hit 1k in a few days?? I was thinking that but I'm not as good as you guys when it comes to this stuff.
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  • cohodkcohodk Posts: 19,184 ✭✭✭✭✭
    The srongest rallies and largest moves always occur during bear markets.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • fcfc Posts: 12,793 ✭✭✭
    profit taking time. 900 sure did not last long.

    bulls need to hope for more spectacular news that makes for a bullish
    outlook on gold.. otherwise the timeline will be extended out for
    years before gold will stay above 1000..

    in my opinion. but everyone already knew that... so i am just repeating
    myself.
  • jdimmickjdimmick Posts: 9,691 ✭✭✭✭✭
    Doesnt look like its going to happen this time around. Many weak hands are taking this last bump to get out of some and back into cash!
  • cohodkcohodk Posts: 19,184 ✭✭✭✭✭
    So when push comes to shove, what is in greater demand, PMs or cash?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • RunnersDadRunnersDad Posts: 1,080 ✭✭✭
    The market is so volatile right now, I really don't know what to think about all of it. We have seen some of the biggest one-day percentage changes(up of down) in the Dow, Gold and Oil all within the past 10 days. The Dow is up 400 one day and down 500 the next. I don't know if anything can really be labeled as a safe investment at this point.
    Regarding Gold, I wouldn't be surprised if we had another day of bad news that sent people into and panic and gold spiked up tremendously...although it could just as easily fall of another cliff to sub 800.
    Mike

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