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So If gold is going up as fast as it is

bretts911bretts911 Posts: 764 ✭✭✭
in Precious Metals
Will it go down as fast as it went up it? and I find it unlikely for it to go down anytime soon but you never know.

Comments

  • storm888storm888 Posts: 11,701 ✭✭✭

    Could go down.

    Gambling is risky and profitable.

    The trend is your friend, until it's not.





    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • zrlevinzrlevin Posts: 734 ✭✭✭
    I'd bet it will go down faster. I have no idea when or at what level that will be, however.

    Zach
    Zach
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Yes, it could go down as fast as it's going up. When things are moving like this, the fundamentals start to become secondary.

    I could always be wrong, but I don't think we're there yet.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BearBear Posts: 18,953 ✭✭✭
    When it turns, it will be sudden, without warning and it will be savage

    as well as rapid, in its downward thrust, The problem is this, no one truly

    knows when or what will trigger the reversal.
    There once was a place called
    Camelotimage
  • gecko109gecko109 Posts: 8,231 ✭
    To answer the OP's question, all one has to do is look at silver from Feb-May this year. $28 to $49 and then a $15 drop in 8 days time.

    If gold were to follow the same path....and it may not, but if it did, that would put gold back down to about $1230.

    So can it happen? You betcha! Will it happen? We will probably see some type of pullback.....the severity of which is anyone's guess.

    My point is dont forget how violently silver retracted just a few months ago.
  • Steve27Steve27 Posts: 13,274 ✭✭✭


    << <i>Will it go down as fast as it went up it? and I find it unlikely for it to go down anytime soon but you never know. >>



    Usually the fall is faster than the rise.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • stevekstevek Posts: 28,966 ✭✭✭✭✭
    Absolutely right - it will definitely go down faster, much faster, than it went up.

    I've stated this before...watch the political trends and you'll know where gold is going. If a good conservative Republican starts looking like a lock for the 2012 election, gold will plummet...if Obama looks like a lock for reelection, how high gold could go is anyone's guess. Senate and House totals will be important as well in the equation.
  • pmcollectourpmcollectour Posts: 1,211 ✭
    No. Gold is money. Silver is not.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Real fiscal action that include massive spending cuts (not smoke and mirrors) will trigger a rise in the dollar and decline in gold. At this point, that is unlikely to occur without significant political change - read that 2012. Cheers, RickO
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>Will it go down as fast as it went up it? and I find it unlikely for it to go down anytime soon but you never know. >>



    Yup. Gold will drop as fast as it went up---it's call volatility. image

    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

  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    stairs up, elevator down.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭


    << <i>No. Gold is money. Silver is not. >>



    Really? Then what do I do with all that worthless silver money I have?imageimage
    Becky
  • stevekstevek Posts: 28,966 ✭✭✭✭✭


    << <i>Could go down.

    Gambling is risky and profitable.

    The trend is your friend, until it's not. >>




    <<< Gambling is risky and profitable. >>>

    "profitable"

    Yes, profitable to the stock and commodity brokerage day trading companies. LOL


  • konsolekonsole Posts: 788 ✭✭✭
    gold had a trend channel from late 2008 up until the end of July and has since broken about $100 above it. If it corrects right now it could get back to $1500 by about mid November and still be within this trend channel.
  • fiveNdimefiveNdime Posts: 1,088 ✭✭


    << <i>

    << <i>No. Gold is money. Silver is not. >>



    Really? Then what do I do with all that worthless silver money I have?imageimage >>


    feel free to send it my way. image
    BST transactions: guitarwes; glmmcowan; coiny; nibanny; messydesk
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭


    << <i>

    << <i>

    << <i>No. Gold is money. Silver is not. >>



    Really? Then what do I do with all that worthless silver money I have?imageimage >>


    feel free to send it my way. image >>



    Thanks, but I kinda like that worthless stuff.image
    Becky
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Like Bear said "When it turns, it will be sudden, without warning and it will be savage" ......BTW, it may happen sooner than most of us anticipate.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Each of the previous 3 peaks where the 200 dma was exceeded by more than 25% ended up giving gold some pretty sharp corrections (15, 25, 33%). A 15% correction from the
    $1818 just hit would be $1545....yeah, pretty sharp. The downdrafts are almost always faster than the up moves.

    The only plus I can think of is if it gets to $2075 and corrects 15% to $1765. Still not too bad. And there should be yet another final leg after all that in late fall to early 2012.

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭


    << <i>Like Bear said "When it turns, it will be sudden, without warning and it will be savage" ......BTW, it may happen sooner than most of us anticipate. >>



    Not to be a party pooper but I for one hope so.

    ...
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