Given the recent news, what does gold's future hold come Monday?
SnakeDoctor
Posts: 21
Just an hour ago I instantly wanted to buy. I held off the emotion and came back. Monday might bring a sharp fall if hedge funds cut loose. What are your thoughts/actions?
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Buy or sell based on emotion and you'll likely have to do what the Capt said.
Do understand that gold is going for its 12th straight year, up 500% from its lows. This is not a ground floor opportunity for gold. The ride for those getting on board just now might have a lot of ups and downs. I tend to believe that there is a lot more upside, but I don't think it is going to be a smooth or pleasant ride for those deciding to go "all-in" on gold at current prices.
<< <i>Just an hour ago I instantly wanted to buy. I held off the emotion and came back. Monday might bring a sharp fall if hedge funds cut loose. What are your thoughts/actions? >>
My only question is : vaseline or vicks?
The stock market action over the past 2 days tells me word of the downgrade was not kept a secret.
Knowledge is the enemy of fear
I purchased a little ZSL recently, so I am crossing my fingers in a weird, "yay, I may make money on this but will lose significantly more on my physical holdings and 401k!"
<< <i>If it is "sell the news.
I purchased a little ZSL recently, so I am crossing my fingers in a weird, "yay, I may make money on this but will lose significantly more on my physical holdings and 401k!" >>
Loosing $ on a 401K is a given, cross those fingers!
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 don't know about Monday, but I would've thought that some of the downgrade has already been priced in. What else are they gonna buy - until Treasuries are perceived as something other than the ultimate in safety (and they still are), the only thing we will see is a continual but persistant rushing of money around the globe, looking for something safer (suggested reading, Martin Armstrong).
The only reason gold isn't a slam dunk for top honors is because there are such huge vested interests built on paper. By the time the big boys' positions are actually threatened, they manage to have all the downside transferred onto Joe Public via their bought & paid-for politicians, while they maintain their top dog position. The world is turning against paper though, and they know it. Maybe it's by design, but you and I will never know.
This longterm dollar decline seems to have been one of the smoothest managed market declines in history, and it continues. You'd have to be nuts not to keep leaning toward hard assets.
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
Since we are talking about Monday, I assumed your link would be "Rainy Days and Mondays Always Get Me Down"
www.brunkauctions.com
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>>>Karen Carpenter said it best.>>
Since we are talking about Monday, I assumed your link would be "Rainy Days and Mondays Always Get Me Down"
My first thought was:
"We've only just begun, to down grade.
But your suggestion works too.
One thing is for sure; Washington hasn't a clue.
<< <i>Slow and steady accumulation is the preferred way to go for most. If a person is at a stage where they want to sell, it is the same: slow and steady when unloading.
Buy or sell based on emotion and you'll likely have to do what the Capt said.
Do understand that gold is going for its 12th straight year, up 500% from its lows. This is not a ground floor opportunity for gold. The ride for those getting on board just now might have a lot of ups and downs. I tend to believe that there is a lot more upside, but I don't think it is going to be a smooth or pleasant ride for those deciding to go "all-in" on gold at current prices. >>
Other than a few states like North Dakota, the rest will have to come down to AA+ as well. I have AAA road service....is that now going to be called AA+?
Schiff points out that gold held ground on Thursday and Friday while the dollar didn't go up gangbusters like it should have, especially with Japan intervening.
It doesn't appear to be August 2008 when it comes to gold. Don't know yet about silver other than it was a programed takedown from $42 to $38 this week
under the cover of the stock market crashing. Over an hour period there were tens of thousands of contracts traded back and forth among the flash computers.
roadrunner
<< <i>This is precisely the news that has propelled gold over the last decade. Will it be buy the rumor, sell the news?
The stock market action over the past 2 days tells me word of the downgrade was not kept a secret. >>
The bond guys pushed TBonds up on Thursday and then backed off sharply on Friday. Since they are given credit for always having it right (Bill Gross excepted),
does that mean they didn't find out about the downgrade deal until the wee hours of Friday morning, or was that just a normal pullback after a nice run?
roadrunner
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......
1684 now