Gold $800.00, Silver $16.00 next target?

Stand by your predictions Elaine:thumb:

 

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gold can outperformed stocks next year?

gold can hit $950.00 next year. currently it will be fluctuated between $750.00 to $825.00.

 

Elaine,

Although I admit I've ripped into you on occasion I'll give you this. You sure started one heck of a long lasting thread AND gold is certainly on a roller coaster in your range now.

clembo

 

Up, down.
Up, Down.
Just tell me the price for next week so I can decide to sell today or wait.
LOL

 

why sell it?.

almost every analyst predicted it will continue uptrend. the next five years will still be good. some even predicted better than stocks by next year.

 

elaine:
okay oh guru of gold & silver.
I will bow to your advice and hold on.
:thumb:

 

gold rally again

gold hit a high today at $826.30. while silver at $14.79.

 

I still think the bottom will drop out of the gold market, and soon. The main reason is simply the bullion price cannot sustain the demand. People have already began to stop investing in it because the base price is too high to ensure a future profit, just like when it spikes in the early 80's. After that spike, it fell to record lows because people lost confidence in commodities when soft investments made a comeback, such as real estate and stocks.

Despite what some predict, gold is not on an ever increasing rocket ride. Like what has always happened, it travels over peaks and through valleys. Those who invest at the peaks are the loosers when it traverses the valleys. And that logic tells me these prices won't last much longer.
Guy~

 

So, Guy:
I should sell?
(a bunch of gold rings from metal detecting.)

How about silver?

 

Well, thats up to you. I'd hate to say sell and then next week it's up another five dollars and you show up at my house with a shotgun. My respone wasn't aimed at selling, but at buying. I think you'd agree it's not the best time to buy when the bullion price is so high. If you have gold you found, then it's free bullion. There's no rush to cash in as theres no loss involved either way.
Guy~

 

I have to disagree. Of course, it is all my opinion, but the path of least resistance for gold and silver still seems to be up. I recall the price spike around 1980 with stories on the news showing folks lined up around the block to withdraw savings from the bank and take it to the local coin dealer to exchange for Krugerrands. I have no idea if this will happen again, but gold and silver now probably make up a smaller percentage of people's assets than just about ever before. If even a small percentage of that money moves back toward the precious metals, it will be like a river trying to go through a garden hose and prices will rise farther and faster than anyone can imagine. I don't think this move has even started yet, but could be triggered by inflation fears or any one of a number of other occurrances. Mining industry data indicates that the full cost of producing an ounce of gold is estimated to average about $600 now. So you have about $200 risk on the downside and an unknown but possibly huge potential on the upside. Someday, it will be time to sell. That day probably hasn't arrived yet.

Regarding the gold rings from metal detecting, why not sell or trade them for a coin or two that could be more fun to own and easier to sell when the time comes?

 

If you remember that one day spike in the early 80's, you should remember the downfall that followed it. A lot of people jumped out of windows shortly thereafter because the invested in gold high. Simple economics demand that when price inflation exceeds sustainable demands, like gold has almost done now, the only place it can go is down. The thing that has driven the price the past fifteen years has been the constant and growing demand for it in developing countries in Asia. But, in recent months that demand has dropped off as well, while at the same time mines have re-opened to ease the shortage. Look at the past and you'll see this is exactly what crashed the peak in the 80's...same events with the same future.
Guy~

 

Actually there's quite a difference between what happened in the 80s and what's happening today.
In the 80s, gold prices rose across the globe. Today, most of the appreciation in gold is because of a weak dollar.
There's a huge difference.

All IMHO...MIke

 

coleguy, the point was the recognition of what a top looks like, not the over-obvious result of buying at the wrong time. When gold tripled in the 70s from about $35 to $100+ it looked high to many people. But there was plenty of profit opportunity for those who held on, even for those who held on too long. So the current move from $260 to $800 can be viewed in that light.

 

My extra First Spouse coins are starting to look safe as bullion investments.
Not much premium for collector value, but if gold hits $840/oz, their melt value will be equal to the original purchase price.

 

True, Cloudsweeper, but my opinion holds firm that now is the wrong time to invest. No commodity can sustain triple digit percentage gains for a decade and be expected to maintain that climb forever. Show mw one example that this hasn't been the case and I'll leave it at that.

I simply think those that buy at todays prices will be sorry before long. I've never lost a cent after over 20 years of investing, and I'm not about to start now because of false prospects on historically unstable commodities.

Of course, this is just opinion...don't take my thoughts to the bank and blame me if I happen to be wrong.
Guy~

 

actually, dreamer the gold buyers here will pay a premium for .9999 gold of up to $25 an ounce. So both coins are already worth the purchase price in melt.

 

gold at $824.60

if u.s. mint based gold at today current price of $824.60 per ounce. then here are the following prices:

for american eagle:
gold unc with (w) mint mark:
one ounce: $909.95
1/2 ounce: $464.95
1/4 ounce: $244.95
1/10 ounce:$109.95

gold proof:
one ounce: $969.95
1/2 ounce: $499.95
1/4 ounce: $264.95
1/10 ounce:$124.95

for spouse gold:
1/2 ounce: $519.95 (unc)
1/2 ounce: $539.95 (proof)

for gold commems:
.242 ounce: $289.95 (unc)
.242 ounce: $309.95 (proof)

 

silver american eagle

i expect american eagle silver proof and (w) unc to go up its prices too.

2008 am eagle one ounce proof $31.95
2008 am eagle one ounce unc (w) $23.95

also 2008 silver proof set and silver quarter set will go up likewise.

 

gold at $830.40

gold traded at $830.40 as of this writing. u.s mint new prices should be:

one ounce (w) am eagle unc $914.95
one ounce proof am eagle $974.95

spouse gold unc $524.95
spouse gold proof $544.95

commems gold unc $294.95
commems gold proof $314.95