Promotions are almost a vital part of the generic gold market. You have lots of different dealers taking positions in various areas, invariably things go up. And what goes up can come down. Nontheless, money is made no differently than the promotions in the stock market. Promoters get in early and leave early to hand off to someone else. Still, one can make money in that kind of market if they stay on the play of the promoter.
<< <i> Eventually, international pressure will force the powers that be here to take serious action to adjust the relative value of the dollar to other int'l currencies. Int'l currencies trade in a close range to one another, otherwise "feathers get ruffled."
At some point, expect a serious rise in interest rates here in the U.S., the dollar will rise, and precious metals will get slammed. When this will happen is anyone's guess, but it will happen. >>
Some very wise advice. The rise in gold has really been a reaction to the falling dollar. Right now, all the stars are in alignment for a low dollar. Relatively weak US growth, strong foreign growth, big US deficits, unpopular war, very unpopular president. In the next few years, most of these factors are likely to be reversed and, in all likelihood, the dollar will eventually reset to its historical norm - and gold will decline.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
<< <i>I believe two factors in play right now are OPEC - they are considering tying the price of oil to the EURO instead of the Dollar and China - they want to divest much of their Dollar holdings. If either of these things happen gold will IMHO jump up 10 - 15% with the value of the Dollar losing the same value amount. >>
This was written one year before the US invasion of Iraq...
"The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 82 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro."
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
<< <i>If you're speaking economically, there seems to be only one candidate in either of the two parties that has even a clue as to our economic woes. I won't use this forum to mention his name, but he did run once before as a Libertarian. >>
You mean the good Congressman from here in Texas
I agree
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
You haven't seen anything yet. It should drop a little then start moving upwards again toward $1050 at which point a battle royal will take place and then on to $1650, The dollar is history.
Remember, just a few years back, Gold could be acquired for right at $300. Those who bought then are really liking all this but are NOT selling out just yet.
Comments
roadrunner
<< <i> Eventually, international pressure will force the powers that be here to take serious action to adjust the relative value of the dollar to other int'l currencies. Int'l currencies trade in a close range to one another, otherwise "feathers get ruffled."
At some point, expect a serious rise in interest rates here in the U.S., the dollar will rise, and precious metals will get slammed. When this will happen is anyone's guess, but it will happen. >>
Some very wise advice. The rise in gold has really been a reaction to the falling dollar. Right now, all the stars are in alignment for a low dollar. Relatively weak US growth, strong foreign growth, big US deficits, unpopular war, very unpopular president. In the next few years, most of these factors are likely to be reversed and, in all likelihood, the dollar will eventually reset to its historical norm - and gold will decline.
<< <i>I believe two factors in play right now are OPEC - they are considering tying the price of oil to the EURO instead of the Dollar and China - they want to divest much of their Dollar holdings. If either of these things happen gold will IMHO jump up 10 - 15% with the value of the Dollar losing the same value amount. >>
This was written one year before the US invasion of Iraq...
http://www.ratical.org/ratville/CAH/RRiraqWar.html
"The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 82 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro."
<< <i>If you're speaking economically, there seems to be only one candidate in either of the two parties that has even a clue as to our economic woes. I won't use this forum to mention his name, but he did run once before as a Libertarian. >>
You mean the good Congressman from here in Texas
I agree
Remember, just a few years back, Gold could be acquired for right at $300. Those who bought then are really liking all this but are NOT selling out just yet.
<< <i>Sell gold and buy oil futures. >>
No.
Sell commodities and buy the $.
<< <i>Any particular reason gold and silver are down so much this morning? >>
More sellers than buyers, maybe?
<< <i>Any particular reason gold and silver are down so much this morning? >>
Russ must be buying Silver again.