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Joined: Jun 2010
Posts: 3,529
Campfire Tracker
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OP
Campfire Tracker
Joined: Jun 2010
Posts: 3,529 |
Fox News: Are We About to See a Global Gold Selling Spree?If the price goes down a few hundred bucks per ounce then I hope the Fed creates some more money out of thin air to buy gold. That will keep the price up, and if there's a finical crisis in the future they can sell the gold then. Interesting how the Fed can seemingly create gold out of thin air. Of course, central banks have been doing that for a long time.
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Joined: Jan 2009
Posts: 23,319
Campfire Ranger
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Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
Should you trust a man whose "eyebrows" are actually a single "eyebrow?"
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Nov 2005
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Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
Should you trust a man whose "eyebrows" are actually a single "eyebrow?" Unibrow. Dude needs to sell some gold and get some laser treatments. Probably gots a forest on his back!
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Joined: Jun 2010
Posts: 3,529
Campfire Tracker
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OP
Campfire Tracker
Joined: Jun 2010
Posts: 3,529 |
What, you never saw a central banker before? If they were good looking they would be in sales or on TV.
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Joined: Jun 2010
Posts: 3,529
Campfire Tracker
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OP
Campfire Tracker
Joined: Jun 2010
Posts: 3,529 |
Gold has dropped over $65 an ounce and is under $1,500 as of 11:30 am eastern time today. Maybe the article I posted yesterday is valid, or maybe the article itself is causing the selloff.
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Joined: Mar 2011
Posts: 33,856
Campfire 'Bwana
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Campfire 'Bwana
Joined: Mar 2011
Posts: 33,856 |
Mac, How long do you think this market can continue its run?
The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.
If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.
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Joined: Jun 2010
Posts: 3,529
Campfire Tracker
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OP
Campfire Tracker
Joined: Jun 2010
Posts: 3,529 |
I was watching Fox business and a while ago they were saying the best historical indicator is that the market has a long ways to go yet. Of course, if I believed that 100% I would sell off all my other investments and buy stocks. Not going to do that, but I have invested more in stocks just in case the market goes way up.
It could be that investors (not doomsday preppers) see stocks going up for a while yet and they are selling off gold to take advantage of the trend. If so, then gold could be headed down and if we get into panic selling it could go under $1,000 an ounce. Fear works both ways and it's a more powerful motivator than greed.
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Joined: Mar 2004
Posts: 6,065
Campfire Tracker
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Campfire Tracker
Joined: Mar 2004
Posts: 6,065 |
curious which central banks are buying...particularly if Cyprus is selling...
Defend the Constitution
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Joined: May 2001
Posts: 18,354 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: May 2001
Posts: 18,354 Likes: 2 |
Carpe' Scrotum
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Joined: Mar 2004
Posts: 6,065
Campfire Tracker
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Campfire Tracker
Joined: Mar 2004
Posts: 6,065 |
grinning...of course--Goldman!
Defend the Constitution
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Joined: Dec 2010
Posts: 2,209 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Dec 2010
Posts: 2,209 Likes: 1 |
My personal opinion is that our Federal Reserve is nearing the end of their easy money, low interest rate policies of the past few years. Sometime over the course of the next 12 months I believe we will see interest rates start to rise. Since gold pays no interest or dividends, I think it will have a difficult time competing with rising rates. Could the sell off in gold now be a precursor to rising rates? I believe so, as any investment market is a discounting mechanism for future events.
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Joined: May 2001
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Campfire Ranger
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Campfire Ranger
Joined: May 2001
Posts: 18,354 Likes: 2 |
Gold bugs selling off to become BitCoin bugs.
Carpe' Scrotum
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Joined: Jun 2010
Posts: 3,529
Campfire Tracker
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OP
Campfire Tracker
Joined: Jun 2010
Posts: 3,529 |
Today the bottom dropped out of the gold price triggering even more selling. If we get a panic going there's a long way yet to fall. It's a bad time if you are a short term gold investor, but a good time to get in after we see where the bottom is.
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Joined: Jun 2001
Posts: 10,834 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2001
Posts: 10,834 Likes: 2 |
I will be buying if it does drop low! Need to enter the market sometime and expand.
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Joined: Apr 2010
Posts: 20,683
Campfire Ranger
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Campfire Ranger
Joined: Apr 2010
Posts: 20,683 |
yep I'm watching to see with great curiosity where the bottom is
I think a lot of it depends on what Russia, China and India do.
but I'd been told to expect great volatility ($100 moves in a single day) in the days to come and I believe we're seeing that now. grin
there's blood in the streets, ain't it something?
I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
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Joined: Sep 2003
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Campfire Ranger
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Campfire Ranger
Joined: Sep 2003
Posts: 23,569 Likes: 23 |
bottom? I don't think we'll see a bottom for a long time. If you buy now, you could be holding 20 years before you break even. It's shiny metal..
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Joined: Mar 2011
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Mar 2011
Posts: 33,856 |
Yea, but shiny metal or green ass wipe - take your pick.
The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.
If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.
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Joined: Mar 2011
Posts: 33,856
Campfire 'Bwana
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Campfire 'Bwana
Joined: Mar 2011
Posts: 33,856 |
I will be buying if it does drop low! Need to enter the market sometime and expand. So what's low?
The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.
If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.
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Joined: May 2001
Posts: 18,354 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: May 2001
Posts: 18,354 Likes: 2 |
There's the rub. I think I'll ask TRH.
Carpe' Scrotum
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Joined: Jun 2002
Posts: 132,048 Likes: 65
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,048 Likes: 65 |
Fox News: Are We About to See a Global Gold Selling Spree?If the price goes down a few hundred bucks per ounce then I hope the Fed creates some more money out of thin air to buy gold. That will keep the price up, and if there's a finical crisis in the future they can sell the gold then. Interesting how the Fed can seemingly create gold out of thin air. Of course, central banks have been doing that for a long time. Who wants it to go up? This was engineered because the central banks wanted to add more gold to their inventories at fire sale prices before the dollar collapses. The smart folks are taking advantage. It won't last long.
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