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Could this be bad news for gold in 2010?

goingbrokegoingbroke Posts: 1,410
in Precious Metals
Price of gold $800.00 in 2010? Link!
Many successful BST transactions ajia
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins

Comments

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Good, now I can continue to buy more and average down.

    What surprised me was to see that Germany has the second largest gold holdings after the US and before the IMF.

    R95
  • PerryHallPerryHall Posts: 46,238 ✭✭✭✭✭
    What kind of batting average does this reporter have predicting gold prices?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • goingbrokegoingbroke Posts: 1,410


    << <i>What kind of batting average does this reporter have predicting gold prices? >>

    Here is some of her work for your reviewClaudia
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • SportsModeratorSportsModerator Posts: 1,624 mod
    You even give her the time of day and devote a thread to a clueless peddler of herbal extracts?

    image

    Might as well believe all of Bernanke's predictions image

    Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com

  • dino2008dino2008 Posts: 341 ✭✭
    image
  • KipKip Posts: 852


    << <i>What kind of batting average does this reporter have predicting gold prices? >>



    Thought she was just reporting what someone else said.
    UCSB Electrical Engineering....... USCG and NASA
  • CaptHenwayCaptHenway Posts: 32,236 ✭✭✭✭✭
    All the recent sales haven't done much to hold gold down. IMHO, I don't think this will either. The Chinese will just buy it.
    MOO
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • ProofCollectionProofCollection Posts: 6,256 ✭✭✭✭✭
    I agree. The Chinese - or some other country - will buy it. It won't even hit the market.
  • derrybderryb Posts: 36,944 ✭✭✭✭✭
    Two reasons to own PMs:

    1. Wealth preservation - preserve your net value. Your purchasing power generally remains unchanged while those without PMs see a decrease in their spending power. This can only take place because alternative money (dollars) has become worth much less. The day your gold hits $5,000 you are also screwed because you will not want to sell it at any price due to the worthlessness of what you will be trading it for.

    2. Wealth creation - make profit. Benefit from the ups AND downs of PM prices by knowing when to sell and when to buy. I welcome $800 gold and would much rather see it than 5,000 gold. I will see it coming and sell out at a much higher price only to buy it back when it bottoms.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

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