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POLL: Will We See A $100+ Down Day (Move) In Gold In August?

BigRickBigRick Posts: 1,334
in Precious Metals
Yes or No. (Even if only intraday from day high to day low).
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Comments

  • TooSnappyTooSnappy Posts: 43
    ofcourse it will, I just bought a new piece
    Positive transactions as a buyer-Utahcoin, CEOGBOSE, grote15, guitarwes, ms71, zrlevin, Durexmetals
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    expect a drop from 2000 to 1900. image

    "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

  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Somebody had to break the tie image

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • 2ndCharter2ndCharter Posts: 1,656 ✭✭✭✭✭
    I didn't vote because there was no option for "I don't care" - I bought my PM's for the long haul and the trend is definitely up. I don't obsess over day-to-day moves.

    Member ANA, SPMC, SCNA, FUN, CONECA

  • KonaheadKonahead Posts: 1,476 ✭✭✭
    Expect bigger swings
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    no, i hope not. but maybe.

    you gotta think some profit taking and moving that to buying some stocks.

    look more at % moves rather than $ moves as we move higher/lower.

    i did not vote because i really feel "maybe"

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Not as long as leaders think like this:

    "Carney estimates that unemployment benefits could create up to one million jobs."

    "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

  • goingbrokegoingbroke Posts: 1,410
    Am I saying to short gold, no way in hell. Am I saying to dump all your gold, not a chance. I’m saying that something here doesn’t feel right, markets don’t work this way, they like to hurt the most people the most often, and right now the most people are panic long gold, and have been for quite some time.

    On the very shortest time frame, I would be looking for a close below the previous day’s low to exit short term long positions. On an intermediate term time frame I’d still be long until we took out the 20 day low per my donchian channel algorithm. On a long term basis, watch the 200 day moving average as always, it will signal when and if a bear market in gold takes place, that’s at least 6 months away.

    I would not be buying gold here on any time frame, and I’m not calling for it all to end, but today was the first time I had that feeling, we might be getting close.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>I would not be buying gold here on any time frame, and I’m not calling for it all to end, but today was the first time I had that feeling, we might be getting close. >>


    Set a drop in price that you would sell at and stick with it. If market continues up, raise your sell price accordingly.

    "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

  • BigRickBigRick Posts: 1,334
    Just fyi: for those that voted no, today's hi/lo range on the December Future is 81.30 (1,736.30/1,817.60) as of 1:05p CST.
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    kitco says 1731 low 1787 high FYIimage
    Avid collector of GSA's.
  • BigRickBigRick Posts: 1,334
    Kitco is quoting the December Comex futures? image
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  • cladkingcladking Posts: 28,636 ✭✭✭✭✭
    I think it could go either way. Ironically I tied the vote at 26 with a "No" vote.

    The market will come to realize QE III is coming.
    Tempus fugit.
  • PinkFloydPinkFloyd Posts: 1,762 ✭
    Doubtful of -$100 in a day, but over a few days, sure.
    Successful transactions with keepdachange, tizofthe, adriana, wondercoin
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Possible, but I don't think probable.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • pmcollectourpmcollectour Posts: 1,211 ✭
    "Gold has been rising against all national currencies, and that's significant," James Turk, founder of bullion dealer Goldmoney, said.

    "When there are problems with a national currency... people begin to worry about the value of their money, whether they're going to lose purchasing power because of inflation or other problems. As a consequence, they look for safe havens."

    He was speaking as a true gold bug -- not in the dark days after Lehman Brothers' demise in 2008, nor in the depths of last year's euro zone debt crisis, nor after Standard & Poor's recent downgrade of the United States' top-notch credit rating.

    Turk's view came in a BusinessWeek interview he gave in 2005, well in advance of the current financial crisis.

    "My long-standing forecast, made in a Barron's interview in October 2003, is that $8,000 per ounce will be reached sometime between 2013-2015," he told Reuters this week.

    "I've stayed with that forecast over the years and see no reason to change it."

    The world's current financial woes are only going to get worse if current policies continue, he believes, meaning the rally in gold prices is unlikely to stop here.

    "Politicians and central bankers are making decisions that debase national currencies, and the resulting bad monetary policies they are following are causing the gold price to rise," he said.

  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>Possible, but I don't think probable. >>

    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

  • BanemorthBanemorth Posts: 986 ✭✭✭
    Down about $85 in two days if that counts.
    Justin From Jersey

    Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
  • lightcyclerlightcycler Posts: 546 ✭
    That doesn't count. But I'll go on record to say it will happen. Maybe today
  • cjmezzcjmezz Posts: 467
    I voted "NO"..just a guess, but I don't think it will swing that hard either way
    "When someone tells you nothing is impossible, ask them to dribble a football"

    MANY positive BST Transactions
  • BigRickBigRick Posts: 1,334
    I say yes.
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  • GRANDAMGRANDAM Posts: 8,505 ✭✭✭✭✭
    Is there a limit that gold or silver can go up or down on a given day?

    GrandAm image
    GrandAm :)
  • BigRickBigRick Posts: 1,334
    No.

    CME Daily Price Limits
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  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Without quoting complex algorithms or even checking my watermelon patch, I would feel safe in saying that August will not see a drop of significance ($100 or more). In fact, given the current economic outlook, I would say that $2K is possible by year end. Cheers, RickO
  • BigRickBigRick Posts: 1,334
    Hi/LO spread about $61 so far today.

    I think this Friday is the 1st REAL chance of making a $100+ down move (maybe $200 this Friday. image Puts are cheap right now, best load up a bit ).

    Update 3:20p CST
    Oct Day Gold Hi/Lo range $91.20
    Dec Gold Day Hi/Lo range $91.90
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  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    $91 from high to low today.

    http://www.cmegroup.com/trading/metals/
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BigRickBigRick Posts: 1,334
    Close but no cigar. imageimage
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  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Looking at the stock market, and at gold today - it appears that all of our problems have gone away. Maybe it's in recognition of the DC holiday period.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BigRickBigRick Posts: 1,334
    Maybe JM but more likely the quiet before the storm awaiting Ben Friday in the short term and the euro bank liquidity sitch in the LT.
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  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Looking at the stock market, and at gold today - it appears that all of our problems have gone away. Maybe it's in recognition of the DC holiday period. >>



    "...it appears that all of our problems have gone away."
    That's pretty much what I say to the TV. In the background I hear "Dad, are you talking to the TV again?"

    Seeing that virtually none of our country's problems have been solved since 2008 any lull or correction is a time to reload. Opps, sorry for the violent rhetoric. image
  • BigRickBigRick Posts: 1,334
    Approx. $90+ down move so far today (Oct $93.70, Dec $93.00) ...
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  • BigRickBigRick Posts: 1,334
    Oct down $100.10
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  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Congratulations to those that predicted yes. image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • SpoolySpooly Posts: 2,108 ✭✭✭
    image
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • OzzyAndyOzzyAndy Posts: 344
    Ouch, there it is.
    Still thinking of what to put in my signature...
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    I said, "no" and I was wrong.

    It won't be the last time.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • lightcyclerlightcycler Posts: 546 ✭


    << <i>I said, "no" and I was wrong.

    It won't be the last time.image >>



    I thought I was wrong once.........but I was mistaken imageimage
  • KonaheadKonahead Posts: 1,476 ✭✭✭
    not to worry, wait until Friday it could all come back and more.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • BigRickBigRick Posts: 1,334
    Without QE3 it could go down another $200 tomorrow KH (it's already another $40 towards that).
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Yes, and it could go up $1,000. I fail to see you point or fascination.
    Avid collector of GSA's.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    $1650 here we come ....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PhaethonPhaethon Posts: 323
    Back to 1400 ?
  • GroinyGroiny Posts: 399
    ....if it went up every single day without exception - it would be kinda a no brainer and we all could get rich ;

    there has to be declines in order for it to go up , and go up BIG !!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Nice reversal today...All the PM's as of 1:13EDT are marching to the same "up beat" drummer. We may not see $1650
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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