Monday should prove interesting
Bear
Posts: 18,953 ✭✭✭
Nobody knows how the day will start, nor how
the day will end. Should be exciting for stackers.
the day will end. Should be exciting for stackers.
There once was a place called
Camelot
Camelot
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Comments
I stacked up a few rolls of ASEs this morning. I ain't afraid.
Camelot
Today I added just over an ounce of gold to the stack.
Monday will be interesting but not scary - for me.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Adding
Hope it works out in my favor.
...but it's always fun and interesting to try.
<< <i>That's exactly right...nobody knows...because nobody can accurately predict herd mentality...
...but it's always fun and interesting to try.
The futures markets open tonight. They will show the hand for the market open tomorrow. PPT will be buying starting tonight.
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
Agreed. Anyone trying to time the gold markets is wasting time. We'll be over 2000/oz next summer.
Not a good sign.
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
That's the general rule of thumb, however, if the majority feels that way, the oposite usually occurs.
<< <i>
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
That's the general rule of thumb, however, if the majority feels that way, the oposite usually occurs. >>
I believe that sentiment applies to the stock market, not the PM market. My sentiment is that if the paper markets tried to artificially
suppress the POG, then the physical buyers would buy huge quantities on the dip. Not only are the middle to upper class buying
physical, but banks, and nations are as well. I really can't see any scenario where gold goes down for a long period of time.
Yes, we could see a short panic if the SHTF, but even after that Gold would make a trek northward once again.
Ar gen tin a.
Five-year gold chart
A 30% pullback before starting a $900+ rise. A severe economic downturn could drag gold down with it, for a while.
That said, I am not selling. Buy and hold is my motto.
MOO
TD
<< <i>
<< <i>
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
That's the general rule of thumb, however, if the majority feels that way, the apposite usually occurs. >>
I believe that sentiment applies to the stock market, not the PM market. My sentiment is that if the paper markets tried to artificially
suppress the POG, then the physical buyers would buy huge quantities on the dip. Not only are the middle to upper class buying
physical, but banks, and nations are as well. I really can't see any scenario where gold goes down for a long period of time.
Yes, we could see a short panic if the SHTF, but even after that Gold would make a trek northward once again. >>
Spoken like a true "die heart" PM collector.
#1- In my lifetime gold will hit 10,000 per ounce
#2- I will be posting on this board when that happens
God willing
<< <i>Even the BST forums have been slow here - I think a lot of people are in a holding pattern. >>
Yeah, even Apmex isn't selling. At the checkout screen page is this statement in red -
*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open.
<< <i>As I have said elsewhere, remember October of 2008:
Five-year gold chart
A 30% pullback before starting a $900+ rise. A severe economic downturn could drag gold down with it, for a while.
That said, I am not selling. Buy and hold is my motto.
MOO.... TD >>
2008 is always possible. But one can also say that in the 3 yrs that have intervened, gold changed its status from a commodity to a currency. There were few to no articles about
Central Banks buying gold back in 2008. The debt crisis had not spread to the entire world. This puts gold in a far different light today than in October 2008. Yeah, it's about
double the price as it was in Oct/Nov 2008, but the world has much more than twice the problems today. The world now considers gold a safe haven. That was really not the
case in 2008. If the US banksters paper-smack gold down in price, there will buyers of size around the world looking for ounces and even tons. China would love to swap a
few hundred billion from their paper reserves into bullion if they could do so w/o upsetting markets and hurting themselves in the process. The trading markets are a sham so
one has to take posted paper PM prices and interest rates with a grain of salt.
roadrunner
This wasn't totally unexpected and S&P's reasoning isn't any different from what we already knew.
<< <i>
<< <i>As I have said elsewhere, remember October of 2008:
Five-year gold chart
A 30% pullback before starting a $900+ rise. A severe economic downturn could drag gold down with it, for a while.
That said, I am not selling. Buy and hold is my motto.
MOO.... TD >>
2008 is always possible. But one can also say that in the 3 yrs that have intervened, gold changed its status from a commodity to a currency. There were few to no articles about
Central Banks buying gold back in 2008. The debt crisis had not spread to the entire world. This puts gold in a far different light today than in October 2008. Yeah, it's about
double the price as it was in Oct/Nov 2008, but the world has much more than twice the problems today. The world now considers gold a safe haven. That was really not the
case in 2008. If the US banksters paper-smack gold down in price, there will buyers of size around the world looking for ounces and even tons. China would love to swap a
few hundred billion from their paper reserves into bullion if they could do so w/o upsetting markets and hurting themselves in the process. The trading markets are a sham so
one has to take posted paper PM prices and interest rates with a grain of salt.
roadrunner >>
I'm thinking the big difference this time around is much less flight to T bonds, Euros and cash and more flight to metals, including paper metal. Safe havens are becoming much more limited.
"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 suspect the paper boys are going to be scurrying around on Monday looking for some hard assets to cover the blizzard of margin calls if things go south. If metal really spikes, it might be a good time to bleed a little of it off into an up market to help those paper boys out a little and also a great opportunity to stash a little cash for the ride. At least it's nice to have a choice.
Best of luck to all you PM forumites. Please turn your game controller device to the "ON" position.
Hey, GOT CASH?
Good - I still have time to mow the yard.
This weekends paper was awash with articles telling the herd to keep their money in the markets, it will get better and this is a great buying opportunity. Unfortunately, the 401K ers have been bled and trimmed enough that they aren't buying anything.
I was thinking that this is not "it", in terms of a big move up or down - but if what you just pointed out is true, it is starting to look like the manipulation apparatus is already deployed in hopes of avoiding a Black Monday.
This tells me that it is Black Monday. People aren't stupid.
I knew it would happen.
<< <i>That's the general rule of thumb, however, if the majority feels that way, the opposite usually occurs. >>
The market always surprises........... lets see what happens at 5:00pm!
In God We Trust.... all others pay in Gold and Silver!
<< <i>Actually, I'd be surprised if the dollar drops a lot and PMs pop a lot. I'd definitely be surprised if they popped and kept the majority of the pop.
This wasn't totally unexpected and S&P's reasoning isn't any different from what we already knew. >>
PS It's comical that the US Gov't is the last one still in denial over the downgrade. That right there might be worthy of another downgrade.
unpredictable world. About the only thing one can seem to count on, are rare coins
and PMs. Not that these can not decline, and severely. However, they will always have
substantial residual value ,as compared with paper.Though I am concerned about Monday,
I own no stock or bonds and so, being nothing I can do, about what ever may happen on
Monday,what will be will be.I feel sorry for stock holders, a stock plunge is never a pretty
sight and it will cause tremendous angst and anxiety among the good people, who must
depend on that paper for their retirement and well being. I pray that everything evens
out quickly and with as little loss as possible.
Camelot
<< <i>
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
That's the general rule of thumb, however, if the majority feels that way, the oposite usually occurs. >>
The dollar is UP against most currencies this evening.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Lowered US credit rating = US dollar will be down = higher gold prices. >>
That's the general rule of thumb, however, if the majority feels that way, the oposite usually occurs. >>
The dollar is UP against most currencies this evening. >>
people need the safety of american dollars!