Next Level: GOLD $1,350.00

Interesting, I haven't heard anyone buying, and they'd have to by a decent amount to make it move like this right?

 

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yeah, apparently the general public is not doing this, so my guess is that "they" must be some countries or gigantic organizations stocking up on gold, only I have no idea who they are and why they are doing this.

I remember some time ago on this board someone states, quite firmly, that the price of gold is ALL about the value of the dollar. but these days, the value of the dollar is nothing but up and up. it is just interesting to see all these irregularities.

 

It seems like it would make sense if dollar goes down, gold goes up. But honestly, it doesn't seem to work that way, or at least there are other factors too that come into play.

I'm not sure who said that, gold prices seem to be related to what currency you own from what I've been learning. If you're stuck with a devaluating currency gold is just going to be more expensive to pick up.

It's all very interesting...now might be a good time to offload on some PM's though, I just don't trust that gold will stay this high, I can see it easily dipping back to low $1,000's....

 

In which case if you unload now you might well remain prepared to pounce on that dip, it might not stay low that long if individuals, as a group, are not currently the ones doing the buying, but leap at the chance, as a significant sized group, should gold pull back that much and begin buying. Many here keep telling us how they are waiting for (fill in the blank) price of gold when they will buy and say to everyone buying now, "I told ya' so..." I guess we'll see who chimes into the thread(s) when that happens...

 

It's a catch 22....I don't lose any sleep over it, but every time it goes to $1090 - $1110 range makes me wish I unloaded. Now, seeing it at $1160+ makes me feel happy I didn't.

I know it's a roller coaster, and I'm already in the mindset that it's going to be turbulent, probably forever, but I guess what I'm personally looking for is gold to just stay at a strong steady price like in the $1180'ish range.

When the DOW dips, I don't want to see gold dipping with it, it makes me say to myself, "WTF?"

But I think it's because gold is paper traded, when the DOW dips, that is what probably causes the price of gold to dip with it....???

 

Way back when, gold used to be considered a reliable stock market hedge. Then in 2008, it got sold off with everything else .

Not so much to do with paper, as margin calls IMO. If you've been borrowing, and your investments go against you, you sell whatever you have to sell to raise the money. Fall of 2008 was a great time to pick up some gold, diamonds, etc. There isn't proportionally a big paper trade in diamonds.

Next time, it could be the same. Or it could be different. We shall see :eating:.

 

That handy inverse correlation between USD weakness and gold strength, and vice versa just isn't working the way it used to . Factors to consider: the US dollar isn't really strengthening, it is the Euro which is weakening. So gold (and to some extent oil), are still rising despite apparent USD strength. But if you compare the USD to the Australian and Canadian dollars (the so-called commodity currencies) the USD isn't doing so well.

So if you bought gold last year in Australian dollars, you've lost money. And Canadians are already talking about coming down to the US to pick up bargain property with their stronger dollar. Not something the US papers like to talk about so much .

So you have to look at gold as any one of a pair of a number of currency crosses, not to mention all the other imponderables...

 

I was thinking about picking up Canadian/Aust. currency but I just don't know enough about the process to do so. And right now don't have the energy to learn the in/out's of it.

I think the american media's rep are getting worse and worse by the day. It's almost a spiral now. Newspapers/Mags are just about obsolete and does anyone really trust what they watch on TV?

Anyways to get off my high horse, I've only read a handful of blogs on China, Canada buying U.S. real estate, it really should be more front page news, this is our SOIL that foreigners are owning.

I'm going to sound like a hypcrite now, I don't exactly have a problem with foreigners owning property, many foreign company's own huge commercial real estate, but I just think that at the very least, it should be reported more, just so the average person knows what's going on. I guess that's all I'm asking for.

But that doesn't bring as much ratings as tearing down Tiger Woods and now trying to bring him back up so he can be a comeback story..

 

You're not going to hear any criticisms from me, since falling off high horses seems to be one of my hobbies . And I'm hardly going to defend the devaluation of my currency and the selling off of our assets at "bargain" prices to foreigners who won their government's currency lottery. As for hypocrisy, when I can open a bank account in a Canadian bank without proving residency in Canada first, or open one in Switzerland without being told that they don't want to deal with the hassle of US clients anymore, not to mention risking an audit when I get the account, I might look a little more kindly on the buy-it-now US firesale idea.

I am also thinking about foreign currencies. But you want to keep in mind that Canadian and especially Australian dollars are treated as "risk assets" by the investment community, and could reverse and sell off very quickly if/when the climate changes. So you would want to be able to exchange them back into something else quickly yourself. I'll post anything useful I find out.

I've been reading about it in the Canadian media online. It's not exactly a hot topic in my local US press .

 

gold is heading toward $1,200.00 an ounce. dow jones average will pass 11,000 points easily. as well as standard and poor 500 to over 1,200 points. silver slightly over $20.00.

 

One hellova sleuth you are with your predictions! I see they are getting more conservative since the beginning of this thread looking for $1350/oz.

 

we are talking about short term within two weeks.

 

but the thread is apparently long term despite your thinking 7 months ago when you started it.

 

be patient my sweet and dearest. time will come and you will believe me.

 

I'm sure it will come sooner or later, that's not my point nor doubt. I'm more concerned about reasonable expectations within the amount of time one foresees a given PM will perform. The fever pitch of excitement and anxieties regarding stellar performance in such a volatile sector need to be kept in check, and so as not to misguide those curious and in question/confusion around the discussion.

 

gold high in asia - $1,172.20/oz.
silver high in asia - $18.62/oz.

 

Currently: in Asian markets during Monday trading 4/12/10

GOLD @ $1,166.10.oz.
Silver @ $18.58/oz.
Platinum @ $1,739/oz.
Palladium @ $524/oz.

 

Currently: in UK/EU markets...

GOLD @ $1,163.00.oz.
Silver @ $18.51/oz.
Platinum @ $1,733/oz.
Palladium @ $519/oz.

US market opening in about 30 minutes...

 

Currently: At the US market opening...

GOLD @ $1,167.70/oz.
Silver @ $18.42/oz.
Platinum @ $1,733/oz.
Palladium @ $520/oz.

 

Currently:

GOLD @ $1,165.20/oz.
Silver @ $18.47/oz.
Platinum @ $1,739/oz.
Palladium @ $525/oz.



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