The market will open in one minute. Gold closed yesterday at $927.50. Any guess for today's closing price? No prize, just personal pride. I am guessing up $7.50 for a final closing value of $935.00 Also silver: closed at $16.73 My guess: $16.85
My sob story is that last year I bought a 1 oz American Eagle at 650.00. The market promptly tanked to 543.00. When it had climbed back up to 627.00, I sold it. Do I ever wish I had held on.
We've all been there! A tip that I learned is that if you buy an asset and it drops significantly in value, but then climbs back up to where you bought it, it's best to hold it because chances are it's not done climbing. Can I guarentee that the future is like the past? Obviously not. But it seems to work a lot.
I predict the value of gold and silver will be different in the future than it is now. I think I stand a very good chance of being correct, based on past trends. I'll even go so far as to say the values will continue to fluctuate as long as gold and silver are freely traded. Those are the only safe predictions you can make. Anything else is no more likely to be right than a random guess lol... I am reminded of a study where 10 proffesional stock analysts were given a list of stocks and asked to choose which ones would go up in value. Also, 10 chimpanzees where given the same list of stocks and given a set of crayons so they could randomly circle stocks. The chimps outperformed the stock analysts almost every time. (if anyone knowa of a mutual fund where the stocks are picked by monkies let me know, I'd love to invest in it lol...) It's also been proven that professional analysts are only capable of making correct prodections about 1/3 of the time. You can get better results than that from fortune tellers, flipping a coin, or again, chimps. The best you can say about gold is it's a good way to stabilize wealth. Long term trends are too chaotic to make a profit off of except by pure luck. It's easy to look at gold prices 4 years ago and say you should have bought it then, hindsigt being 20/20 and all, but nobody then was predicting it would double in 4 years. Gold can just as easily drop in value down the road as go up. Nobody knows what the future holds in the long run. It's safe to say gold will be climbing in the near future as all the factors point in that direction but the long term depends on many factors that can not possibly be known about in advance.
Gold price is absurd. There is enough supply but demand and speculation is killing everything. PGMs on the other hand is another story as the supply is seriously not keeping up with the demand at all. I bought half ounce platinum when it was at a mere 700USD perhaps just 3-4 years ago. Now it has shot to 1700USD.
PGM - platinum group metals, which includes platinum, palladium, rhodium, ruthenium, osmium and iridium. That said, price of rhodium is over the top at the moment.
I'm surprised to hear that out of you after everything I've gone over with you on gold! We're still barely over 2/3 the way to the top, and it will be a long and gradual climb. Remember, the metals commodities are world markets, so they never really "close" and are effected by many different factors across the globe. I see the CAD and AUD continuing to fight their way against the USD, and as they continue to push and climb on the USD, we're going to continue to see gold going up. And that's just currency driven inflation. And I'm still seeing the Asian markets continuing to try to push it up. I've even noticed recent peaking in the European markets. If this trend becomes regular like it is in the Asian markets, then gold will drive even higher in USD. Platinum is the one that is currently out of control! Looking at the market overlaps, I would say the Australian market is trying to push that one up. The Asian markets seem to be trying to pull it down. Kind of like the opposite of gold.
my sob story is i bought between 20 - 40 ounces of gold between 06 and 07 but since i dont sell my coins the rise in value is useless i would rather have gold at lower values so i can keep on completing my collection
/amen I honestly would prefer gold and silver to drop, to make collecting cheaper. If gold keeps going up I probably won't be able to afford any more gold coins lol...
