I'm thinking this week gold will move!!
DoubleEagle59
Posts: 8,341 ✭✭✭✭✭
Just a hunch....and no, I haven't sold my position in gold yet.
I'm thinking this week it will have a strong move to the upside.
Currently at $1104 US/oz.
I'm thinking this week it will have a strong move to the upside.
Currently at $1104 US/oz.
"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)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
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Comments
I knew it would happen.
<< <i>I sure hope not! Im selling 9oz on ebay that ends this coming Thursday. Wont have access to those funds till probably the following Wednesday so that I can buy 5-8oz on Thursday. I really hope I dont get caught dead in the water while waiting for those funds!
I learnt a long time ago to never lose sleep over the metals prices.
que sera, sera!
TD
I knew it would happen.
Wonderful, right?
Well, gold kept ticking up and down, and got as low as $252, but never hit $250. We even offered to cut our commission (hey--we'd have made money) so that he would pay the same as though gold were at $250, but he had his mind stuck on the thought that he was going to buy gold at $250!!
Well, of course, it never did hit $250, and the guy never bought, at least not from us. Maybe he put his tail between his legs and went somewhere else at $300. Who knows?
What would a million dollars worth of gold bought at $252 be worth today?
TD
http://ProofCollection.Net
Although I realize the rhetorical nature of this question Tom, I couldnt help but to plug in the numbers!
At the current ask of $1106.90, that 1 million worth of $252 gold would be worth exactly $4,392,460.32 !
And in the last half-hour, gold has dropped a bit, so his gold is now only worth $4,382,142.70 - a loss of over $10 Grand. Should he have sold 30 minutes ago?
I'm teasing.
I knew it would happen.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Yes, look for movement on Wednesday. >>
Day late in your forecast
BADA-BING!
<< <i>Don't forget that he would have paid a premium over the $252 back then, but even so he would be at around 4X today.
Nice up move in gold so far this morning. Sure surprised me.
Anyway, folks can always play shoulda, coulda, woulda. For the most part it is a useless game. There are opportunities every year, every month, where in hindsight a person could have done very well, if they had the prices in advance. Unfortunately, no one gets the prices in advance. Trading and investing is done in real time, not with hindsight goggles.
That's why I always say that for the average person, buying and selling in steady and slow manner is the way to go. Timing would be great if it could be done. For most folks, timing is an illusion and a dream, and many that attempt timing miss out on the bigger moves and only get the smaller moves. There was a time when gold $400 was too HIGH for many to buy. Same story at gold $700, etc.
Will it be the same at gold $1100? No one knows. In the big picture, after ten consecutive up years for gold, and a quadrupling in price, a lot of fish have bitten. Once enough fish are in the barrel, the invisible hand of the market pulls the plug and prices go down. It is the way all markets work.
I knew it would happen.
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
<< <i>i sure do hope it moves. id like to unload some stuff. im wonder when silver is gonna move again. its been stagnet. ( supply and demand i reckon ) >>
stagnet?
I'm getting a mental image of a smoker starring Jack Webb..........
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Up about $14 so far today. Any particular reason why it's moving up? >>
Because the Fed is about to announce that 8000 is the Magic Number!!!!!!!
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
To your point gold is measured in how much of an individual currency it takes to buy it..........but you already know that
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Is gold going up or is it a case of the dollar going down? Isn't an ounce of gold today the same as an ounce of gold 2000 years ago? >>
No. There is actually FAR more "above ground" gold today than there was 2,000 years ago. Therefore gold is even more plentiful today than it was 2,000 years ago. Just goes to show how badly U.S. dollars deteriorate.
<< <i>
<< <i>Is gold going up or is it a case of the dollar going down? Isn't an ounce of gold today the same as an ounce of gold 2000 years ago? >>
No. There is actually FAR more "above ground" gold today than there was 2,000 years ago. Therefore gold is even more plentiful today than it was 2,000 years ago. Just goes to show how badly U.S. dollars deteriorate. >>
Which has increased faster in the last 2000 years---the number of ounces of gold above ground or the number of people on the planet?
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
<<No. There is actually FAR more "above ground" gold today than there was 2,000 years ago. Therefore gold is even more plentiful today than it was 2,000 years ago. Just goes to show how badly U.S. dollars deteriorate. >>
<<Which has increased faster in the last 2000 years---the number of ounces of gold above ground or the number of people on the planet?>>
These and all your questions are answered everyday the market is open. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
He's rounding first, fans. Here comes the left fielder, a momentary stumble - I don't think that he can get the ball to second in time.......it may be a double...........
Wait a minute, folks...........in the last few minutes, gold has taken another unbelievable nosedive...........the left fielder has thrown an unbelievably quick and accurate throw to the 2nd baseman..................looks like more of the same, folks...........I'm going down to get me a beer...............come & get me if anything interesting happens today.......................
I knew it would happen.
<< <i>"Can't nobody here play this game?" >>
The game is a stalemate. Why play at all?
Knowledge is the enemy of fear
<< <i>
<< <i>"Can't nobody here play this game?" >>
The game is a stalemate. Why play at all? >>
I think they called the game for lack of interest.
I knew it would happen.
<< <i>I'm thinking this week it will have a strong move >>
You were partially correct with your seance
<< <i>
<< <i>I'm thinking this week it will have a strong move >>
You were partially correct with your seance
Indications are increasing for a substantial move in coming weeks. Im afraid that move may be at odds to the OP's thinking.
Knowledge is the enemy of fear
OOOOOOOOOOOOOOOOOOOOOO-
GAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
TAKE ER DOWN!!!!!!!!! DIVE!!!! DIVE!!!!! DIVE!!!!!!!!!!!!!
<< <i>
Ahh, the famous "Fishhook Curve"
Not way up like I thought, but up.
I knew it would happen.
roadrunner
<< <i>Does the passing of healthcare make for a weaker dollar..... thus the uptrend of gold? >>
More importantly, what would non-passage mean. Seems to me a lot of "high level" folks are riding on this bill.
Knowledge is the enemy of fear
<< <i>Does the passing of healthcare make for a weaker dollar..... thus the uptrend of gold? >>
This bill will create red ink as far as the eye can see... Expect something along the lines of the similar plan passed in Massachusetts a few years ago, maybe worse:
In Massachusetts, "Health care costs continue to rise much faster than the national average. Since 2006, total state health care spending has increased by 28 percent. Insurance premiums have increased by 8–10 percent per year, nearly double the national average."
"When the Massachusetts reforms first became law, they were projected to cost about $1.56 billion per year in total, with the largest component, the Commonwealth Care subsidies, costing roughly $725 million per year. As it turns out, those estimates were not even
close. By mid 2008, the state was projecting that Commonwealth Care would cost $869 million." Link. And up from there....
We are already running $1.4 trillion deficits... this bill will only make things worse. This is going to be bad for the dollar, economy, etc. but good for PMs as people realize the debt being incurred will not be repaid except in inflated money.
If Congress does not pass the health care bill, Health care costs will go up.
A major part of the problem is defensive medicine. A few months ago I went into the emergency room with what I thought was a certain potentially serious problem. They ran every possible test on me that they could, out of concern that if they did not run the test and the problem that test would have found was there I would have sued them.
Turned out to be an allergic reaction to something I ate that I was not previously allergic to. No harm, no foul, but my insurance company gets nicked for over $10G's.
Illinois had a law that limited medical malpractice awards to reasonable limits. The Supreme Court recently overturned it. I guess they can't stand any restrictions on their brother lawyers' bloated fees.
MOO
TD