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Too high too fast?

LehamLeham Posts: 24
in Precious Metals
With gold entering and exiting the 1700s in 3-4 days is anyone else nervous we may see another major correction like the correction earlier this year in silver?

Exponential movement like this makes me think "bubble"?

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    JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    I would welcome a pull back or even a nice long pause........bubble? maybe...maybe not. Unchartered waters. MJ
    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......
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    storm888storm888 Posts: 11,701 ✭✭✭

    It's not a "bubble," but, hopefully, it will retreat and let the little
    guys get some.

    $3,000 might be bubble territory; might not.

    As I noted at $1690, waiting for pullbacks can cost the cautious
    a lot of money. I hope the skeert folks have at least used GLD
    to catch part of the wave.






    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
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    BigRickBigRick Posts: 1,334
    Yup.
    My Sets
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    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Buy Gold or keep your $$ in savings accountimage

    Maybe to high ~ BUT??? I thought same thing in July 2011image

    image
    image
    Avid collector of GSA's.
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    renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I thought the headline was about the US debt. image

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    CoinCoinsCoinCoins Posts: 698 ✭✭✭


    << <i>I thought same thing in July 2011image >>



    same here
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    derrybderryb Posts: 38,579 ✭✭✭✭✭
    "with a sovereign debt crisis threatening, a currency collapse looming, and a chronically persistent low interest rate regime, gold looks positively cheap." - John Browne

    "as long as their is a credit (debt) bubble, there can be no money (gold) bubble." - derryb

    will it have corrections? of course. a strait line to the top means there is a top.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    +1 derrybimage
    Avid collector of GSA's.
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    DNADaveDNADave Posts: 7,346 ✭✭✭✭✭
    It's high enough for me!

    I have to admit I'm out of the game at this point and can't see myself paying this amount for bullion.
    If I want a coin for my type set, and I find a gold piece that I can use disposable income on....OK.
    "Disposable" income is getting harder to come by.

    For these prices, I have to look at land.
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    pmcollectourpmcollectour Posts: 1,211 ✭


    << <i>With gold entering and exiting the 1700s in 3-4 days is anyone else nervous we may see another major correction like the correction earlier this year in silver?
    >>




    No. Instead I agree with JP Morgan that Gold will hit $2,500 by Christmas. I actually will not be suprised to see Gold at $2,000 by
    the first of September.
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    JCMhoustonJCMhouston Posts: 5,306 ✭✭✭
    My personal opinion is that somewhere in the $2200-2500 range would be a bubble. I am a great believer in bubbles by the way, unfortunately it may be that this time the world really is broken. So although I buy and sell silver to make a profit, I'll just hold on to the gold and if/when the bubble pops and it gets back below $1500 I'll start buying again.
    JCM-Houston
    World Collection
    British Collection
    German States Collection
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    derrybderryb Posts: 38,579 ✭✭✭✭✭
    Market bubbles are normally not recognized until after the fact. Then it's usually too late.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    Gold will march up much higher once it becomes clear to many that the Euro (as we know it) is dead.
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
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    KonaheadKonahead Posts: 1,476 ✭✭✭
    If you pull back and look at the 10 year chart you will see this is a steady gentle climb, no spike like silver did. As it contiunes the march up I think the swings will be bigger and more frequent. If you bought back in the $400 level these swings don't bother you as much. If you are jumping in now you will need a strong stomach.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
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