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Go GOLD!!!!!!

GoldbullyGoldbully Posts: 17,350 ✭✭✭✭✭
So many of my oil invested friends think gold is going back to $800.....I say, gold is not oil!!

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Comments

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    It's only a minor tick at this point. When we hit $1,500 an still moving up, I'll get more animated. I wouldn't rule anything out yet.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • DoubleEagle59DoubleEagle59 Posts: 8,314 ✭✭✭✭✭
    As of this morning, it's $1560 an ounce........Canadian $$ (lol)



    Actually, the drop in PM's, since 2011 hasn't been that drastic in Canadian dollars, as we were about at par with the USD at the peak of the gold price (1900 usd, 1900 CDN) and now our dollar has dropped to 1.41 of the USD (1100 USD: 1500 CDN).
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    $1,100? Not impressed at all. Gold stood at $1,300 this time last year. If and when it retraces $1,200, I may join your enthusiasm.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    The other thing to consider is how gold does on a relative basis, if the rest of the asset world is deflating.



    That's fairly "iffy" as well, but we've been down this road before and if the financial system craps out, I'd rather have metals.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    Looks as though the manipulators had to stop.
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    I think we are "deflating".
    We shall see what happens with PMs.
    Often what happens is what was unexpected.
    PMs could also deflate....the whole boat goes down.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • chumleychumley Posts: 2,305 ✭✭✭✭
    I call that a positive indicator.....I like positive indicators
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: Goldbully
    So many of my oil invested friends think gold is going back to $800.....I say, gold is not oil!!






    Your oil invested friends should better understand the correlation between oil prices and gold prices. For now, as indicated by the recent past, PMs will follow the price direction of oil. I have a contrarian view of oil and foresee it moving back up, especially as middle east worsening conditions threaten future supply. As the threat of violence moves closer to El Saud, so grows the uncertainty and the danger to oil supply.





    One thing that has become clear to me is that gold does not influence price movements of other assets. Other assets, however, push and pull on the price of gold.

    "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

  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Agreeing w/derryb. I believe that the number we are going to be watching for is $1200.
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    I find it fascinating when I read real news and I see that the main economic news is only being driven by government entities. Economics doesn't really seem to have much to do with it anymore.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭
    Looks like a bunch of stock selling going one. What are they going to buy next is the question. Metal? Oil? Corn? Hog? Circuit boards?
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    The cost of a good time just went down.
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Originally posted by: guitarwes
    Looks like a bunch of stock selling going one. What are they going to buy next is the question. Metal? Oil? Corn? Hog? Circuit boards?


    Looks like Treasuries is it.

    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Fun to watch...the question is.."Will this last days or weeks?".... Cheers, RickO
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Fun to watch...the question is.."Will this last days or weeks?".... Cheers, RickO
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    and Hi-Ho Silver! Away!
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I'm one hell of a lot more bullish on gold at $1100 than I was at prior values of $1800, $1700, $1600, $1500, $1400, $1300, or $1200 per ounce



    That said, the dollar is strong, oil is low, and wage inflation is also low, while price inflation for necessities is arguably higher.

    Is this a good environment for the prospect of gold continuing higher?



    It's at a 9 week high today, (combination of short covering/flight to safety? ) however the longer term downtrend remains unbroken until gold gets significantly higher.



    If/when 2000/2001 and 2008/2009 type pain returns to the markets (especially stocks) and we enter a recessionary crisis period and asset value crash

    (which is due, if not overdue)

    then we could easily see sub-$1000 gold.. and maybe even a lot lower than that.

    I'd be a big buyer below about $900

    Liberty: Parent of Science & Industry

  • GoldbullyGoldbully Posts: 17,350 ✭✭✭✭✭
    Thanks for your interesting reply, derryb.



    I believe my oil buddy friends are commiserating with one another and would love to see gold follow along with oil.



    image
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Originally posted by: derryb
    Originally posted by: Goldbully
    So many of my oil invested friends think gold is going back to $800.....I say, gold is not oil!!






    Your oil invested friends should better understand the correlation between oil prices and gold prices. For now, as indicated by the recent past, PMs will follow the price direction of oil. I have a contrarian view of oil and foresee it moving back up, especially as middle east worsening conditions threaten future supply. As the threat of violence moves closer to El Saud, so grows the uncertainty and the danger to oil supply.





    One thing that has become clear to me is that gold does not influence price movements of other assets. Other assets, however, push and pull on the price of gold.



    So gold is wimpy?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: cohodk
    Originally posted by: derryb
    Originally posted by: Goldbully
    So many of my oil invested friends think gold is going back to $800.....I say, gold is not oil!!






    Your oil invested friends should better understand the correlation between oil prices and gold prices. For now, as indicated by the recent past, PMs will follow the price direction of oil. I have a contrarian view of oil and foresee it moving back up, especially as middle east worsening conditions threaten future supply. As the threat of violence moves closer to El Saud, so grows the uncertainty and the danger to oil supply.





    One thing that has become clear to me is that gold does not influence price movements of other assets. Other assets, however, push and pull on the price of gold.




    So gold is wimpy?







    Don't act naive. You know what gold is. It's insurance.

    "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

  • MesquiteMesquite Posts: 4,075 ✭✭✭
    Sorry, with all of the crony capitalism and manipulation of the markets (which markets? Pick one.) I believe that traditional correlations are out the window.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Don't act naive. You know what gold is. It's insurance.


    I doubt if that statement still "holds water." Insurance against what? All the pat answers may have been true in the past, but I have my doubts if they are still applicable. Only time will tell.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: OPA
    Don't act naive. You know what gold is. It's insurance.


    Only time will tell.

    Time saves us from having to experience everything at once.

    "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

  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Originally posted by: derryb
    Originally posted by: OPA
    Don't act naive. You know what gold is. It's insurance.


    Only time will tell.

    Time saves us from having to experience everything at once.


    Time keeps people from looking like fools for their entire life....usually; )

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: cohodk
    Originally posted by: derryb
    Originally posted by: OPA
    Don't act naive. You know what gold is. It's insurance.


    Only time will tell.

    Time saves us from having to experience everything at once.


    Time keeps people from looking like fools for their entire life....usually; )


    only some of us. Others can't hide it.

    "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

  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Originally posted by: derryb
    Originally posted by: cohodk
    Originally posted by: derryb
    Originally posted by: OPA
    Don't act naive. You know what gold is. It's insurance.


    Only time will tell.

    Time saves us from having to experience everything at once.


    Time keeps people from looking like fools for their entire life....usually; )


    only some of us. Others can't hide it.

    No you cant. Lol.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GoldbullyGoldbully Posts: 17,350 ✭✭✭✭✭
    image

    Up nicely today. image
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    With oil/stocks/China etc., this is getting real interesting.... Fun times...Cheers, RickO
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    CAD loonie up, US dollar down.





    Global equities continue to suffer, safe haven being sought.


    The punch bowl is being prepared.

    "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

  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Originally posted by: ricko
    With oil/stocks/China etc., this is getting real interesting.... Fun times...Cheers, RickO


    With all markets suffering...including the several year slide in PMs and a flight now to the safety of treasuries paying next to nothing in interest rates with the fall in equities....
    These are far from "fun times".
    Stackers have been hurt for years, now the Joe6pack 401K/IRAs of the middle class as well as the low fixed income returns that many retired folks depend on are in the gutter.
    As often the case...the 99% are hurting and it is getting worse
    I guess if you are a bank or corporate big wig still pulling in millions while your shareholders take it on the chin it may still feel like fun times.
    Look around....lots of suffering occurring.
    JMHO.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: mariner67
    Originally posted by: ricko
    With oil/stocks/China etc., this is getting real interesting.... Fun times...Cheers, RickO


    With all markets suffering...including the several year slide in PMs and a flight now to the safety of treasuries paying next to nothing in interest rates with the fall in equities....
    These are far from "fun times".
    Stackers have been hurt for years, now the Joe6pack 401K/IRAs of the middle class as well as the low fixed income returns that many retired folks depend on are in the gutter.
    As often the case...the 99% are hurting and it is getting worse
    I guess if you are a bank or corporate big wig still pulling in millions while your shareholders take it on the chin it may still feel like fun times.
    Look around....lots of suffering occurring.
    JMHO.

    Sellers have been hurt for years. Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.

    "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

  • mariner67mariner67 Posts: 2,746 ✭✭✭
    Originally posted by: derryb
    Originally posted by: mariner67
    Originally posted by: ricko
    With oil/stocks/China etc., this is getting real interesting.... Fun times...Cheers, RickO


    With all markets suffering...including the several year slide in PMs and a flight now to the safety of treasuries paying next to nothing in interest rates with the fall in equities....
    These are far from "fun times".
    Stackers have been hurt for years, now the Joe6pack 401K/IRAs of the middle class as well as the low fixed income returns that many retired folks depend on are in the gutter.
    As often the case...the 99% are hurting and it is getting worse
    I guess if you are a bank or corporate big wig still pulling in millions while your shareholders take it on the chin it may still feel like fun times.
    Look around....lots of suffering occurring.
    JMHO.

    Sellers have been hurt for years. Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.



    The same can be said for equity holders over time!

    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: mariner67
    Originally posted by: derryb
    Originally posted by: mariner67
    Originally posted by: ricko
    With oil/stocks/China etc., this is getting real interesting.... Fun times...Cheers, RickO


    With all markets suffering...including the several year slide in PMs and a flight now to the safety of treasuries paying next to nothing in interest rates with the fall in equities....
    These are far from "fun times".
    Stackers have been hurt for years, now the Joe6pack 401K/IRAs of the middle class as well as the low fixed income returns that many retired folks depend on are in the gutter.
    As often the case...the 99% are hurting and it is getting worse
    I guess if you are a bank or corporate big wig still pulling in millions while your shareholders take it on the chin it may still feel like fun times.
    Look around....lots of suffering occurring.
    JMHO.

    Sellers have been hurt for years. Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.



    The same can be said for equity holders over time!



    Time (patience) is what separates the stacker from the investor.

    "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

  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Stacking is a peaceful pursuit. While the stackers watch the equity monkeys chase each other around, they quietly stack. Nobody much pays attention to the stackers, they hardly even make a sound and stackers are never in the news. Their quiet diligence pretty much goes unnoticed. But every once in a while, the stackers pause to sit back and smile.

    Got Gold?
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.



    Interesting. It's just the same with stocks, real estate, and other asset classes!



    BTW, the PM stackers who have been "stacking at a cheaper cost", pray tell, where are they getting their money to buy metals with?

    Liberty: Parent of Science & Industry

  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "...where are they getting their money to buy metals with?"



    Discretionary income
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭
    Originally posted by: Baley

    Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.



    Interesting. It's just the same with stocks, real estate, and other asset classes!



    BTW, the PM stackers who have been "stacking at a cheaper cost", pray tell, where are they getting their money to buy metals with?




    I imagine most PM stackers have jobs that pay a salary or a pension if they are retired. They put a small part of their income toward PM's when ever they get paid.

    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

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: Baley
    Stackers have been stacking at a cheaper cost. Stackers realize there are ups and downs and react to them accordingly. The current lack of a "quick profit" is not a detriment to a true stacker. Quick profits are made on the move up.

    Interesting. It's just the same with stocks, real estate, and other asset classes!






    Yes it is the same. But we don't refer to other asset class investors as stackers. Why is that? 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

  • johnny9434johnny9434 Posts: 28,334 ✭✭✭✭✭
    Originally posted by: derryb
    Originally posted by: Goldbully
    So many of my oil invested friends think gold is going back to $800.....I say, gold is not oil!!






    Your oil invested friends should better understand the correlation between oil prices and gold prices. For now, as indicated by the recent past, PMs will follow the price direction of oil. I have a contrarian view of oil and foresee it moving back up, especially as middle east worsening conditions threaten future supply. As the threat of violence moves closer to El Saud, so grows the uncertainty and the danger to oil supply.





    One thing that has become clear to me is that gold does not influence price movements of other assets. Other assets, however, push and pull on the price of gold.

    agreed.

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    Insurance against what?



    I just heard on the radio that Social Security is going broke in 13 short years and that benefits are sure to be cut. Insurance against what, you say? Postage rates just went up the most ever, and yet "there is no inflation".



    Which brings us to a simple, yet powerful premise. The government is incompetent to the max. If you really wanna trust what you're fed on CNBC or by gov.com, please be my guest. But be forewarned - neither Wall Street nor gov.com is your friend or protector. This has become all too obvious.



    Cheerio good friends, carry on.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Another short rally flop....Back to normalcyimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: OPA
    Another short rally flop....Back to normalcyimage

    ECB stays pat on interest rates, euro declines, dollar surges. . .and we know what that does to paper gold prices. And the dance continues.

    "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

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    "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

  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Originally posted by: derryb
    Peak Gold and Silver production is here



    I just hope prices do not follow in the footsteps of oil after all the stories we heard about peak oil several years ago. My, how depressing that would be. I would also encourage folks to read the quarterly and annual reports of the mining companies to verify that the linked article does indeed have merit.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    I would encourage folks here to treat any linked information as only the first step in their search for truth and accuracy. Consider such links to be a door that has been opened. Do not get trapped by your pre-conceived opinions - allow them to mature in a changing world.

    "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

  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    Originally posted by: derryb
    I would encourage folks here to treat any linked information as only the first step in their search for truth and accuracy. Consider such links to be a door that has been opened. Do not get trapped by your pre-conceived opinions - allow them to mature in a changing world.


    Bravo! !!!!

    100 quadrillion likes. (For roadrunner) image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GoldbullyGoldbully Posts: 17,350 ✭✭✭✭✭
    Originally posted by: OPA

    Another short rally flop....Back to normalcyimage






    image

    Trying again to rise up! image
  • pmacpmac Posts: 3,189 ✭✭✭
    Do you think the upswing is due to the Patriots loss?imageimage
    Paul (a die-hard NE fan)
    Paul
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: OPA
    Another short rally flop....Back to normalcyimage

    fortunes are made by the big paper players with these small but volatile moves.



    It's almost as if they are behind them, making money in both directions. 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

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Another week of slow rising prices, will make a believer out of meimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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