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Today's gold price prediction....

DoubleEagle59DoubleEagle59 Posts: 8,296 ✭✭✭✭✭
in Precious Metals
I know I'm crazy, but I sense a $30 to $40 per ounce price jump in the last hour of today's trading!!
"Gold is money, and nothing else" (JP Morgan, 1912)

"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

"I only golf on days that end in 'Y'" (DE59)

Comments

  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    About a minute til the NYSE opens, I agree the market will go crazy today, hard to predict, but I could see gold at least getting back to above 800 before the end of the day.
    imageQuid pro quo. Yes or no?
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Because Bush is talking up the economy today on national TV/radio I suspect the PPT wanted gold $800 lower by this morning. They will keep it down until the afternoon.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • garsmithgarsmith Posts: 5,894 ✭✭
    It will take a small bump up, may $15 - $20 before the weekend starts
  • OPAOPA Posts: 17,118 ✭✭✭✭✭
    You guys or gals need to stop smoking that funny stuff so early in the mornings....image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    790 its coming back! image
    imageQuid pro quo. Yes or no?
  • OPAOPA Posts: 17,118 ✭✭✭✭✭


    << <i>790 its coming back! image >>



    Sure did ... down, that is -$21 ...$783.00....image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • fcfc Posts: 12,793 ✭✭✭
    if you bought and held from 1 year ago today you would be up only
    3% in a "this is it!" time frame. sad but true.

    but hey on the bright side.. compare it to your 401K ;-)
  • BBNBBN Posts: 3,761 ✭✭✭
    I've noticed the overwhelming majority of PCGS double eagles on ebay are "BIN" only. I assume this is sellers trying to protect their profit from the latest drop?

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    While technically "correct" on that 3% call from 12 months ago, you leave out the most important part of the picture. That is that gold started from around $650 in August 2007. Only the John Nadler types failed to get on board that early as they were looking for $400-$575 "gifts." It cost them the entire move from $650 to $1000.

    From August 2007 gold, the time most who were interested and understood the trend in progress, gold is up 20%. That's a fairer estimate of its performance from mid to later 2007. If it retraces all the way back to $680, then I'll buy into the mere 3% gain.

    Let's still focus on the big picture. The Dow has lost 75% of it's 2001 value when denominated against gold. That's really the bottom line if one is into wealth preservation and wealth evaporation via stocks. Funny that some people still don't get what "this is it" means. I guess their view of the financial terrain is that the past year or two have been pretty sweet with most of the mega-banks self destructing and nearly every part of the finanical sector in complete disarray. Business as usual on "Fall Street."

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