Anyone paying attention to gold today?

cherrypickincoin · September 22, 2003 2:59AM

It's at $386.80 right now. Do you think a break in the $400 barrier is in the near future?

cladking · September 22, 2003 3:01AM

I'm much more impressed when gold is up and the dollar is up.

The price of gold is barely increasing in Swiss francs or euros.

wallstreetman · September 22, 2003 3:02AM

To tell you the truth, doesnt seem like a very good move today considering how badly the Dollar dropped!

jeffnpcb · September 22, 2003 3:03AM

Euro down 2 cents at .8700 and stock market in the tank today. Same thing happens every time in these conditions.

CarlWohlforth · September 22, 2003 3:20AM

No, I haven't been paying attention. I have one or two gold coins I think I will sell if gold goes over $400.

MrEureka · September 22, 2003 3:38AM

Euro down 2 cents at .8700

Funny, my screen shows the euro at $1.14926.

eagle7 · September 22, 2003 4:59AM

I do think it will break the 400 dollar barrier in the near future. Pre 33 mint state gold coins are selling for almost double what they were a year ago, at least in the twenty libs in 64 and the Saints in 64 are thirty percent higher than a year ago. I dont think it is wise to fight a rising market. If you dont like gold coins, just say so. But to sit here and argue about the price of gold when it has risen from 250 an ounce to almost 400 an ounce in a year is foolish, IMHO.

PFgold · September 22, 2003 5:17AM

<< <i>Euro down 2 cents at .8700

Funny, my screen shows the euro at $1.14926. >>

that would be the inverse... jz

drainbamage · September 22, 2003 8:35AM

No matter what we all know the limits of our incomes and I know that we are not all millionares here. If the dollar becomes too weak, then we will not be able to afford to collect as hardcore as we do.

That does not only cramp us as collectors, but it will also hurt PCGS in the long-term..... We have to be willing and financally able to buy coins before PCGS can slab them.

This bull market is not like others in the past. Anyone with a sharp eye and a good memory can see that at any coin show.

Currently we are all fine and are enjoying this market for the most part. But with the way prices keep climbing, we can sell all we want and then by the time we find the rare coin we want, we may not be able to afford it.

So what do we do? Sell PF69DC state quarters? What good does that do if the dollar becomes weak? Makes me nervous.

Baley · September 22, 2003 8:39AM

Currently we are all fine and are enjoying this market for the most part. But with the way prices keep climbing, we can sell all we want and then by the time we find the rare coin we want, we may not be able to afford it.

substitute "house" for "rare coin" and you have a snapshot of the housing market:
I'm glad my condo is going up in value, but the kind of house I want to buy is also going up, and faster!

roadrunner · September 22, 2003 10:23AM

If coin prices go up too high, they will certainly fall sharply once again. You may have to sit out the market for a few years but you'll be able to buy back the same coins you once loved, for far less $$.

I'll stick out my neck. Gold will likely hit the $400 this week or next.
I figure it's better than 50/50. We are very early in the emerging
bull market for gold. The cards are all lined up. Wait until JQ Public finally decides to jump in a year or so from now.

roadrunner

Skipper53 · September 22, 2003 10:51AM

Since I don't really need the money right now, I won't sell my gold coins.
Also , since I don't need the money right now, I won't sell my stocks.

If the prices go much higher I won't be able to afford to buy ,but since
there's bound to be a "correction" I'll bide my time and wait till gold is
back to the level I was comfortable buying. Around $335./oz

roadrunner · September 22, 2003 2:16PM

There will be a strong correction eventually, but not to the $335 level anytime soon. If that occurs, then the gold bull will go bust.
A correction to the $355-375 range would make more sense if gold barely touches $400. A close higher than that will likely see gold in the upper $300's or $400's for a long time to come.

roadrunner

Placid · September 22, 2003 2:25PM

$400 by the end of october is my guess.

Deadhorse · September 22, 2003 2:27PM

<< <i>$400 by the end of october is my guess. >>

$410 to $425 by New Year's Day. Just my semi-educated guess.

ohbaby · September 22, 2003 2:43PM

It's at $386.80 right now. Do you think a break in the $400 barrier is in the near future?

Baring any geopolitical event, yes. Probably by February.

Factor in any of the world's hot spots {n Korea, Afghan, Iraq, Israel, Saudi, Indonesia, India, etc. etc.} and a major event and you'll gold move 10% in a week or two.

Time to sell is when more dealer explain why it's such a great investment, AFTER it's gone up 60-80%!

Anyone paying attention to gold today?

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