We ain't seen nothing yet

edmundfitzgerald

$50-$100 dollar moves in gold are right around the corner.


A $100 move on a $1,400 commodity is like a $10 move on a $140 stock, or like a $1 move on a $14 stock.

The question isn't if it will happen. The question is when will it start going nuts.

RedTiger

I don't have a comment. I am just noting the current prices for the forum archives:

Kitco ask for gold $1394, silver $26.87

mrearlygold

MilesWaits

<< <i>$50-$100 dollar moves in gold are right around the corner.


A $100 move on a $1,400 commodity is like a $10 move on a $140 stock, or like a $1 move on a $14 stock.

The question isn't if it will happen. The question is when will it start going nuts. >>



Yes, it might be comparable to, say, the dollar moving in large one hundred point increments as they are BOTH currencies, after all, just one is real!

Miles

ocon4008

It will happen as the dollar continues to lose value; where the dollar stops is the 15 trillion dollar question. Commodies are not gaining value; the dollar is just losing buying power.

Wolf359

Could happen Wednesday, when the money printing starts. Silver could cross $30 same day.

roadrunner

Commodities are not gaining value; the dollar is just losing buying power

With gold having risen 5.5X since 2001, and the dollar index having fallen 40% in the same period, I think it's safe to say that this commodity (and probably many others) have far outpaced the drop in the dollar. There's more at work here than just the dollar drop. You can't even say that the money supply has been increased 5.5X in the past 9 yrs. Though one could say that the otc derivatives, debt and other crazy bets on our financial system have increased by 5.5X. I'd say gold is measuring itself against those things rather than just the old dollar.

Gold can buy you 4X more today than what it could in 2001. In my area a house worth $150,000 in 2001 is probably worth about $150K-$200K today. 588 ounces of gold bought that house in 2001. Today...no more than 144 oz. Purchasing power plus a whole lot more is maintained.

roadrunner

piecesofme

Wait a minute. Arent you the same guy that said this?

people are "nuts" for buying now

RedHerring

The falling USD will push gold to $1500 sooner rather than later.

Unfortunately it will push crude oil over $100 soon also.......

Overdate

<< <i>Gold can buy you 4X more today than what it could in 2001. In my area a house worth $150,000 in 2001 is probably worth about $150K-$200K today. 588 ounces of gold bought that house in 2001. Today...no more than 144 oz. Purchasing power plus a whole lot more is maintained.

roadrunner >>


When the price gets down to 2 ounces I'm a buyer!

edmundfitzgerald

<< <i>Wait a minute. Arent you the same guy that said this?

people are "nuts" for buying now >>




Tongue in cheek.

MMR

<< <i>

<< <i>Wait a minute. Arent you the same guy that said this?

people are "nuts" for buying now >>




Tongue in cheek. >>



Yes I figured that out later after I lambasted you for that comment. My bad! Please use the sarcasm flag next time!

OPA

<< <i>$50-$100 dollar moves in gold are right around the corner.


A $100 move on a $1,400 commodity is like a $10 move on a $140 stock, or like a $1 move on a $14 stock.

The question isn't if it will happen. The question is when will it start going nuts. >>



I hope not ... That would indicate an immediate bubble .... I prefer a steady climb of 1% or less per week.

MMR

<< <i>

<< <i>$50-$100 dollar moves in gold are right around the corner.


A $100 move on a $1,400 commodity is like a $10 move on a $140 stock, or like a $1 move on a $14 stock.

The question isn't if it will happen. The question is when will it start going nuts. >>



I hope not ... That would indicate an immediate bubble .... I prefer a steady climb of 1% or less per week. >>



Not a bubble Opa, but and impending collapse...

jmski52

I hope not ... That would indicate an immediate bubble .... I prefer a steady climb of 1% or less per week.

I agree. I'm sure that Bernake agrees as well.

piecesofme

Am I seeing what I think I see? Ag up another 3% so far today?

57loaded

and Au as well
with a the USD holding it's own, sorta

johnny9434

I hope this dont crash to soon and stays there. we shall see .......

RedHerring

After gold hits $3000 then I'll watch for the drop off. We might be in the final days of being able to buy gold under $1500...ever!

OPA

If you have any plans to buy gold from the Mint, I would suggest you do it before Wednesday.

Bubblehead

<< <i>Could happen Wednesday, when the money printing starts. Silver could cross $30 same day. >>

cohodk

@roadrunner said:
Commodities are not gaining value; the dollar is just losing buying power

With gold having risen 5.5X since 2001, and the dollar index having fallen 40% in the same period, I think it's safe to say that this commodity (and probably many others) have far outpaced the drop in the dollar. There's more at work here than just the dollar drop. You can't even say that the money supply has been increased 5.5X in the past 9 yrs. Though one could say that the otc derivatives, debt and other crazy bets on our financial system have increased by 5.5X. I'd say gold is measuring itself against those things rather than just the old dollar.

Gold can buy you 4X more today than what it could in 2001. In my area a house worth $150,000 in 2001 is probably worth about $150K-$200K today. 588 ounces of gold bought that house in 2001. Today...no more than 144 oz. Purchasing power plus a whole lot more is maintained.

roadrunner

9 year bump. How many oz does it take today?

Baley

@RedHerring said:
After gold hits $3000 then I'll watch for the drop off. We might be in the final days of being able to buy gold under $1500...ever!

LoL, where did all of the permabulls slink off to in their shame and regret?

metalmeister

As stocks and real estate has soared to record highs the proportion of PM's in one's portfolio may have been reduced below the recommended 10%. GLTA

OPA

@Baley said:

@RedHerring said:
After gold hits $3000 then I'll watch for the drop off. We might be in the final days of being able to buy gold under $1500...ever!

LoL, where did all of the permabulls slink off to in their shame and regret?

Two or three are still with us and continue to broadcast the same music.

derryb

Always bullish on gold, even in a bear market. It's insurance dummies, not an investment.

ricko

I like gold.... stacks nicely....good insurance....Cheers, RickO