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Gold finally back to over $1200 - bodes well for collectible gold as well?

northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
edited January 15, 2017 6:09PM in U.S. Coin Forum

If I recall right, there are certain benchmark points of resistance that those who follow charts and graphs adhere to as being predictive of upward and downward movements. Since the brief spike in gold prices on election eve, we have seen gold consistently being held below $1200 on a day to day basis. Now that it has again pushed through the $1200 ceiling this may well equate to a break through with an upward trajectory ahead ... and then again, maybe not. :|

Inasmuch as this is the U.S. Coin Forum, any opinions as to how this will affect our collectible gold coins this time apart from bullion?

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Comments

  • bolivarshagnastybolivarshagnasty Posts: 7,348 ✭✭✭✭✭

    Watching my PCGS inventory, there is a definite correlation between rising gold and value of my numismatic gold.

  • cameonut2011cameonut2011 Posts: 10,060 ✭✭✭✭✭

    I hope so. I have plenty of stuff to dump.

  • VanHalenVanHalen Posts: 3,789 ✭✭✭✭✭

    @Goldminers said:
    I think it will need to get back above $1,400-$1,500 before it will impact the graded gold coin market in a meaningful way.

    This. $1200 means little of anything for numismatic gold at this time. 7 years ago when it hit $1200 was a whole different animal.

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    Thanks for the responses. I should add that when I referenced "this" I was referring to the upward trajectory that can follow a break through point rather than the dollar amount of the break through point itself. Of course the threshold issue remains whether $1200 is in fact a break through point that would be of significance to those who adhere to the graphs and chart theories that give significance to breaking through a point of resistance as a sign of where a price is headed for a commodity such as gold, or even stocks and bonds.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I strongly doubt this is an indication of a 'break through'.... the dollar is far to strong at this point. Cheers, RickO

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    @ricko said:
    I strongly doubt this is an indication of a 'break through'.... the dollar is far to strong at this point. Cheers, RickO

    You may well be correct, but it is noteworthy that since this thread was originated, gold has stayed above $1200 and now looks to be at least creeping higher.

  • logger7logger7 Posts: 8,022 ✭✭✭✭✭

    Brexit: http://www.kitco.com/news/2017-01-17/PRECIOUS-Brexit-worries-push-gold-to-highest-in-over-7-weeks.html

    It seems all do to dollar weakening which has been at historic highs.

    As to correlation of increased gold to numismatics you have to have a real bull market for that, and it doesn't affect the rare coins much.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I has creeped higher....however, watching gold over the long term, I really do not believe this is in any way indicative of a major move up.... ICBW....Cheers, RickO

  • OverdateOverdate Posts: 6,903 ✭✭✭✭✭

    The price of numismatic gold coins depends upon the desire and ability of collectors to buy them, which in turn depends upon the health of the overall economy. The price of gold is a factor, but not the only one.

    My Adolph A. Weinman signature :)

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    Bodes well for the collectible gold seller...

    keceph `anah
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭

    Which way is the wind blowing today?

    All glory is fleeting.
  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited January 17, 2017 11:18AM

    @291fifth said:
    Which way is the wind blowing today?

    Another even bigger jump from yesterday. Last checked up to 1212. To charts and graph gurus, it is the consistency of the direction that is even more significant than the amount. After months of stagnanation that failed to hang onto a 1200 level, we are now two weeks into consistent 1200 plus gold.

  • VanHalenVanHalen Posts: 3,789 ✭✭✭✭✭

    @northcoin said:

    @291fifth said:
    Which way is the wind blowing today?

    Another even bigger jump from yesterday. Last checked up to 1212. To charts and graph gurus, it is the consistency of the direction that is even more significant than the amount. After months of stagnanation that failed to hang onto a 1200 level, we are now two weeks into consistent 1200 plus gold.

    It is a nice uptick this month and I hope it gets rolling. At the same time it looks much like what we've seen in the early months of recent years.

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited January 22, 2017 11:18PM

    Thanks VanHalen. FWIW we are now into an additional week with, at least on a daily basis, gold staying over $1200. Somewhere near $1215 as I post. Whether or not this portends an upward trajectory remains to be seen, but compared to the time period extending back to the election we now continue to have a floor.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Be careful, like floors in very old houses/barns.. they can collapse at any time.... ;) I hope not, I am a big fan of gold... just do not see any near term economic indicators that would allow gold to continue up....Cheers, RickO

  • OuthaulOuthaul Posts: 7,440 ✭✭✭✭✭

    I think it would have to hold above $1200 for a considerable amount of time before it could be considered a breakthrough.

    Just my eversohumble opinion.

    Cheers

    Bob

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    This just feels like a nibbling at the margins. I think for it to have any impact on collectibles, the move up in gold would have to be decisive, rationable and broadcast loudly to the general public.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    Buying it and holding it is more fun than buying it and selling it.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Well... today gold fell through the 'floor'... ;) , Silver too.... just more action on the PM rollercoaster.... Cheers, RickO

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    BST, despite fluctuations . There is a deal to be made.

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited January 26, 2017 12:19AM

    @ricko said:
    Well... today gold fell through the 'floor'... ;) , Silver too.... just more action on the PM rollercoaster.... Cheers, RickO

    Yeah, I saw it nudged below $1200 apparently on the news of the stock market hitting a new record high. It will be interesting to see if that correlation continues with the price of gold being pushed down as the value of stocks goes up and vice versa if the stock indexes can't hold to their new highs.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Also watch the oil and dollar......more correlation with the dollar, but the other two also nudge it a bit. Cheers, RickO

  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    edited January 26, 2017 6:27AM

    When gold goes up, coins follow and when gold goes down, coins don't fall as fast

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    Wow, that was a short lived "dead cat drop" with gold now well back up over $1200. ($1212 as this is posted.)

  • oldgoldloveroldgoldlover Posts: 429 ✭✭✭

    Gold went to over $2,400 a few years back. Looked as a better buy at $2,000 and even better at $1,500. Over the long term it has been a looser since I began watching it in 1981 when it went over $800. I think it will decline a bit a trade pretty close to what it is now, I don't buy generic gold coins as it is more of play on gold that numismatics. Never grab a falling knife.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    For many of us, that stacked gold in years when it was much, much cheaper, watching the ride is fun and certainly, even at today's market, has proved a good investment - well - good if it were converted. Cheers, RickO

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited February 2, 2017 3:18AM

    A new recent high this morning:

    Gold
    $1,220.00 (+11.20)
    02-02 5:16 AM EST

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I saw that... surprising... although I do not believe this is a trend, I always find it interesting to see if I can ferret out a reason for these occurrences... I rarely succeed. Cheers, RickO

  • thebeavthebeav Posts: 3,744 ✭✭✭✭✭

    @oldgoldlover said:
    Gold went to over $2,400 a few years back.

    That never happened in my recollection. I remember an inter-day high of 1850.00.......That's it.......

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    Happy ground hogs day. I hope they are still happy. Imagine if it were Ground beef's day.

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    @TwoSides2aCoin said:
    Happy ground hogs day. I hope they are still happy. Imagine if it were Ground beef's day.

    So that is the explanation.

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited February 6, 2017 11:54AM

    A new post Presidential election high - ignoring the brief election eve surge:

    Gold
    $1,231.10 (+12.30)
    02-06 1:38 PM EST

  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    edited February 6, 2017 1:25PM

    @oldgoldlover said:
    Gold went to over $2,400 a few years back. Looked as a better buy at $2,000 and even better at $1,500. Over the long term it has been a looser since I began watching it in 1981 when it went over $800. I think it will decline a bit a trade pretty close to what it is now, I don't buy generic gold coins as it is more of play on gold that numismatics. Never grab a falling knife.

    Not sure where you got your info from, but gold never went over 2K It managed to almost reach 2k in 2011, but that was the all time high.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭

    I tought golds all time high was $1895

    mark

    Walker Proof Digital Album
    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......
  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    edited February 6, 2017 1:25PM

    @Justacommeman said:
    I tought golds all time high was $1895

    mark

    Yup...Sept 5 & 6, 2011 it closed at an all time high, however in after-hours electronic trading, prices hit an all-time high of $1,917.90 in either late August or early Sept. 2011.

    http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • clarkbar04clarkbar04 Posts: 4,922 ✭✭✭✭✭

    From that chart the downtrend appears to be intact.

    MS66 taste on an MS63 budget.
  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    Still in the 1230 plus range. ($1232 as of posting.)

  • VanHalenVanHalen Posts: 3,789 ✭✭✭✭✭

    @Justacommeman said:
    I tought golds all time high was $1895

    mark

    In USD that is right in the ballpark. Not sure what currency is being referenced re: $2400.

  • AMRCAMRC Posts: 4,266 ✭✭✭✭✭

    The dollar going up is not the same as Gold going down.

    MLAeBayNumismatics: "The greatest hobby in the world!"
  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited February 8, 2017 12:43PM

    Up up and away?

    Here is today:

    Gold
    $1,239.10 (+5.80)
    02-08 2:34 PM EST

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    OK, it is officially over $1240. A new post presidential election high - ignoring the election night bump.

    Gold
    $1,241.30 (+8.00)
    02-08 4:59 PM EST

  • chumleychumley Posts: 2,305 ✭✭✭✭

    as someone that knows nothing about what really determines bullion prices,allow me to pontificate on my thoughts.I feel the new president will instill enough disquiet and instability into the average citizens life so that the safe haven attraction of precious metals will increase to cause a slow steady increase in prices

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @chumley.....I would mildly disagree...I find that the average citizen knows little about gold - other than jewelry - and when asked, the 'deer in the headlights' look is quite apparent.... I, personally, am amazed at how little most people understand economics and precious metals... At the same time, let me state, I am not an expert by any means. Cheers, RickO

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited February 15, 2017 12:29PM

    Holding at $1230

    Gold
    $1,230.90 (+3.00)
    02-15 2:26 PM EST

  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭
    edited February 16, 2017 12:03PM

    Continuing its upward trend heading back to its recent $1240+ high.

    Gold
    $1,239.80 (+6.60)
    02-16 1:59 PM EST

  • Cougar1978Cougar1978 Posts: 7,544 ✭✭✭✭✭
    edited February 16, 2017 11:25AM

    I think it definitely benefits gold that can be purchased close to melt. I buy AGE, MWG that I can get close to melt. Seeking liquidity, little downside, retail to target market.

    So Cali Area - Coins & Currency
  • northcoinnorthcoin Posts: 4,987 ✭✭✭✭✭

    OK, we are now officially back up over $1,240:

    Gold
    $1,240.30 (+7.10)
    02-16 2:32 PM EST

  • NorCalJackNorCalJack Posts: 514 ✭✭✭✭✭

    I think now is not a good time to buy gold. I think the economy will improve and gold will go lower near term. Then I will buy

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