Gold may drop

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Along
Along Posts: 474 ✭✭✭✭
in U.S. Coin Forum

Gold is at risk of a severe decline if pre-election stimulus hopes are snuffed out in the next 24 hours, the Bloomberg Markets Live blog says.

The metal is grinding toward its 100-day moving average and may drop hard and fast if it breaks below that level.

Should be an interesting couple of weeks for gold pricing?

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  • Gazes
    Gazes Posts: 2,315 ✭✭✭✭✭
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    @Along said:
    Gold is at risk of a severe decline if pre-election stimulus hopes are snuffed out in the next 24 hours, the Bloomberg Markets Live blog says.

    The metal is grinding toward its 100-day moving average and may drop hard and fast if it breaks below that level.

    Should be an interesting couple of weeks for gold pricing?

    Or it could go up or could stay the same. There are articles predicting everything under the sun.

  • messydesk
    messydesk Posts: 20,814 ✭✭✭✭✭
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    The ball may land on red. It may also land on black.

    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • logger7
    logger7 Posts: 9,858 ✭✭✭✭✭
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    I wouldn't want to be in the speculative area one way or another. A stimulus is inevitable, just a matter of time.

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Gold will rise as the dollar falls, and fall as it rises....generally, - almost always.... probably. Or, perhaps some other factors will enter the equation and introduce positive effects - or negatives. That's my prediction and I am sticking to it all the way. Cheers, RickO

  • MedalCollector
    MedalCollector Posts: 2,103 ✭✭✭✭✭
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    Sell, sell, sell! ;)

  • AUandAG
    AUandAG Posts: 25,050 ✭✭✭✭✭
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    Hmmm, Pelosi and Mnuchin are meeting this afternoon at 3pm.

    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • CaptHenway
    CaptHenway Posts: 34,164 ✭✭✭✭✭
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    @messydesk said:
    The ball may land on red. It may also land on black.

    Or Green!

    Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • messydesk
    messydesk Posts: 20,814 ✭✭✭✭✭
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    @CaptHenway said:

    @messydesk said:
    The ball may land on red. It may also land on black.

    Or Green!

    Gotta keep the game tipped in favor of the house.

    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • Cougar1978
    Cougar1978 Posts: 10,067 ✭✭✭✭✭
    edited October 20, 2020 8:59AM
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    Gold one of most common elements in universe a recent astronomy article reported.

    It’s very likely drop near term and possibly over the long run to $450 and will drop much further (To zilch....) when huge quantity in the Belt is mined.

    Time to sell is now.

    Likely it’s seen it’s heyday.

    Investor
  • badger
    badger Posts: 1,217 ✭✭✭
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    IDK. Gold does seem to price inversely to the $. $, the strongest among weak currencies. When will spending catch up to DC and the rest of the nations? Progressives chant that there is more than enough money for everyone. Republicans are afraid of their own shadow. Doesn't matter who wins Nov 4. The outrageous spending relative to GDP will continue. And COVID doesn't matter, the politicians will always find a 'COVID' as the reason to spend. Would not be as bad if the $ were going to productive uses - unlike asset transfer and the skim.

    Debt service is at a staggering level now. So, politicians will not let interest rates go positive and halt the gravy train. At least not until the bond vigilantes take market interest rates out of the FED's hands. So, rates will remain low in the short term. BTW, the FED will keep redefining 'market inflation' and resetting acceptable inflation limits. Soon the bundle of goods defining inflation will only be 'yachts and Boeing Max airplanes'. See? 'Inflation is still low and we fear maybe deflationary. Need more spending.'

    Gold seems to the reality check on the politicians. My bet is on gold. But keep quiet about your ownership because they will be trying to tax that too.

    Collector of Modern Silver Proofs 1950-1964 -- PCGS Registry as Elite Cameo

    Link to 1950 - 1964 Proof Registry Set
    1938 - 1964 Proof Jeffersons w/ Varieties
  • Jimnight
    Jimnight Posts: 10,846 ✭✭✭✭✭
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    @Along said:
    Should be an interesting couple of weeks for gold pricing?

    It seems like I say that ever couple of weeks.

  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    @messydesk said:
    The ball may land on red. It may also land on black.

    ... or it may land on the green "0"s.

    All glory is fleeting.
  • ReadyFireAim
    ReadyFireAim Posts: 1,860 ✭✭✭✭✭
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    In uncertain times it tends to go up, like now.
    After the election, it generally goes up if there is new leadership, for the same reason.

    My Saint Set

  • ttown
    ttown Posts: 4,472 ✭✭✭
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    No chance the dollar will drop after all they’re printing a trillion every few months :)

  • fathom
    fathom Posts: 2,201 ✭✭✭✭✭
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    @Along said:
    Gold is at risk of a severe decline if pre-election stimulus hopes are snuffed out in the next 24 hours, the Bloomberg Markets Live blog says.

    The metal is grinding toward its 100-day moving average and may drop hard and fast if it breaks below that level.

    Should be an interesting couple of weeks for gold pricing?

    I don't know. Post election stimulus still possible.

  • Along
    Along Posts: 474 ✭✭✭✭
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    Post election stimulus is very possible - any dip might be a good opportunity.

  • davewesen
    davewesen Posts: 6,981 ✭✭✭✭✭
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    @messydesk said:
    The ball may land on red. It may also land on black.

    don't forget the GREEN

    gold long term has to be a winner and new mint gold issues will undoubtedly have less made

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