Next Level: GOLD $1,350.00

The bottom has been had better start buying now.

 

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hmm $1103 right now. It was $1112 just around midnight last night....


But I guess we won't be seeing the $1000 that some ppl were hoping for.

 

Gold will continue to fall. Only bad economic news can stop the fall.

As I said multiplied times, I expect gold to reach $1000.

I expect gold's bottom to be between $900 and $1000.

 

Nothing falls in a straight line.

 

There will be plenty of bad news in late Q1 and early Q2. Remember much of spot price is based on Futures Market

 

Currently

Gold: $1,106.50/oz.

Silver: $17.53/oz.

Platinum: $1,489/oz.

Palladium: $390/oz.

 

Wow, Plad's doing really nice.

I read an article about how some company was able to create a catalytic converter that didn't need plad's, so I'm a bit uneasy now investing in them. It could completely kill the plad market...

 

Palladium ask price was $358/oz. on 12/22 and $396 ask on 12/06.

Today's current high $393/oz.

+++

Also, Platinum nearly touched $1500 recently ($1,498/oz.)

 

It's fun to guess. And there is no harm in guessing as long as you don't fooling yourself into believing that you have some sort of skill at it when your coinflip guess is correct. The reason I say this is that your post sounds very self-assured about something where such assurance does not exist and cannot exist. Noboby knows whether the next $100 move in gold will be up or down. Longer term it is sometimes possible to know whether the probability of gain or loss dominates.

 

So true, nobody knows. That said, I've found some positive reading I think. I just read the title and it sounds good to me. And after all, someone who is connected to Kitco has a better idea than most. :thumb:


http://www.commodityonline.com/futu...ld-price-should-be-$2163-per-ounce-13613.html

 

$2163? I like!!!

Just to be clear though, the article isn't very gold positive.

A trend that I am seeing in gold articles is that for some reason,(not all) but in this particular article, the author thinks people who invest in gold are expecting a Mad Max scenario. Is it not possible to invest in gold without having that mindset?

I'm not investing in gold because I want MadMax are you crazy?

I also notice, and I saw this on either FBN or CNBC where they picked a stock that outperformed gold. Well, how many stocks are out there? No one can predict any stock that is going to do well, it's a crapshoot ain't it?

How many stocks also SUCKED during the last decade? A lot I bet...

 

APMEX premiums on AGE's are now $60.

Much better than $110 just last month!!!

 

That's because the trading range has narrowed and they want to move inventory before a large drop. Also I suspect demand is starting to wane as there is less news favorable to Gold. I am beginning to believe we will see a drop (slight) before a bigger jump in 3-4 years if the Feds don't screw up sooner.

 

You mean they're not screwing up now!?? LOL....

I wouldn't mind a dip near $1000, offers me more chances to pick up AGE's.

I was just wondering what gold's floor is now...

 

Since just about everyone is waiting for $1,000 or less, it almost guarantees that the price will never get there.

 

Funny how $1000 is such a psychological barrier (either way)...when it fact, its based upon little fundamental data. Then again, markets are not perfect and $1000 is still a number people are looking for/against.

 

Can someone explain in newbie terms what it means when someone buys gold futures? And by "someone" can that be anyone? And how does buying gold futures affect the price of gold? Whether good or bad?

 

You purchase the right to buy a set amount of gold at a set price in the future.

If gold is lower than that set price, you wasted your money.

If gold is higher that that set price, you buy the gold and sell it and make a profit.

Basically you are betting the price of gold will rise above the set price. The seller is betting that gold will fall or not reach the agreed upon price.

 

There's a scene in the Eddie Murphy / Dan Aykroyd movie Trading Places where the two Dukes of Duke & Duke explain commodities futures. :smile

 

This is incorrect.

A futures contract is an OBLIGATION to buy [or sell] a set amount of gold at a set price on a set date in the future. You must either take delivery [or deliver] the metal promised under the contract or purchase an offsetting short [or long] contract by the delivery date to avoid default. Unlike an options contract, which you may be referring to, where the most you can lose is 100% of your investment, the potential losses on a futures contract are "infinite" if you get trapped in a contract that is closing limit up [or down].

Futures are enormously dangerous if you don't know what you are doing, and simply dangerous if you do.