Gold closes down 6% in May

Discussion in 'Bullion Investing' started by fish4uinmd, May 31, 2016.

  1. fish4uinmd

    fish4uinmd Well-Known Member

  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Santinidollar

    Santinidollar Supporter! Supporter

    I'm holding off trading in any asset class until we get the May jobs report on Friday. That will be a key to any immediate Fed move on interest rates.
     
  4. fish4uinmd

    fish4uinmd Well-Known Member

    Seattlite86 likes this.
  5. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    Just another dip / buying opportunity to me.

    There is continual talk of corrections in the equities market - has been for 2 months. Last year around this time we saw a massive dip - and I'm expecting another one in the next 30 days that will drive metals higher.

    I did a big buy of scrap gold last weekend, and am looking for my next opportunities.
     
    Seattlite86 likes this.
  6. BATTERup646

    BATTERup646 Active Member

  7. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    And...(thud).

    http://finance.yahoo.com/news/jobs-...of-america-jp-morgan-all-wrong-160604335.html

    We went searching for an economist who came close to predicting the surprisingly low number of jobs created in May – 38,000. We couldn’t find one.

    Bloomberg surveyed 81 economists on their predictions for the nonfarm payroll number for May, the closely watched figure that represents the net number of new jobs. The average prediction was for 161,000 new jobs, which turned out to be 123,000 too high.
     
  8. Santinidollar

    Santinidollar Supporter! Supporter

    Brother, that jobs report could have changed the game completely.
     
  9. Santinidollar

    Santinidollar Supporter! Supporter

    Give me modest odds and I will bet that the US is back into quantitative easing this time next year. Negative rates aren't off the table either.
     
  10. Brett_in_Sacto

    Brett_in_Sacto Well-Known Member

    Reality is just catching up to media propaganda, and the longer they keep their heads in the sand, the harder the "correction/crash/recession/doom" will be.

    At this time last year the Dow was at 18.4k. It's struggling to stay above 17, and we're about to go into the summer months where traditionally there is a pullback.

    I was 100% spot on with my predictions at this time last year, and I'm fully prepared with our 401k money on the sidelines and well out of stock funds right now.

    I believe we will see the Dow at 15k and possibly less before the summer's out.
     
  11. Santinidollar

    Santinidollar Supporter! Supporter

    A contrarian thought, Brett.

    The stock market -- provided the Fed does not raise rates -- will be supported by dividend paying stocks. Treasury rates will remain low because of overseas demand ( take a look at their 10 year rates and see if our Treasury rates aren't the best deal in town).

    Now, based on my prediction in the previous post, where do precious metals go?

    Of course, if the Fed raises rates, all of this is null and void. Remember 2007 and 2008 when the Fed helped bring on the Great Recession with unjustified rate hikes....
     
Draft saved Draft deleted

Share This Page