Gold hits highest price in at least 5 years

Discussion in 'Bullion Investing' started by myownprivy, Feb 19, 2020.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    People can "wish" what they want, they can't control it. George Soros "wished" the market and dollar would go down after someone he disliked moved into 1600 Pennsylvania Avenue, but they both went UP.

    I don't know who "PM principals and stock principals" (sp.) you are referencing....but we have to talk about institutions and/or central banks, along with hedgers for the PMs. But none can control the market for long.

    The market will do what will frustrate the greatest number of people. :D
     
    xCoin-Hoarder'92x likes this.
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  3. myownprivy

    myownprivy Well-Known Member

    Often correct. However, I think the point is that we know that overall the market always moves up, but gold prices are far more volatile.

    People buy gold either as a back up to a bad market. In this case, things end up as a wash.
    But I think there is also an argument to be made in a moment like this that you can profit selling your gold for, now, almost $1700 an ounce and wait out the market to go back up.
     
  4. Rono

    Rono Senior Member

    Howdy folks,

    A couple of things about the POG. It's a LOT of issues driving demand. Prior to the coronavirus, gold was already at record highs in every other currency on the planet. Just not the dollar. The trade war was really starting to impact the global economy and the stock market was way overbought, a least in part due to such incredibly low interest rates [read: there is no other option for investors than equities]. And please don't discount the demand generated by the 'survivalists'. Please don't think that I'm mocking them but at this particular point in political history, there are some very, very polarized folks running around on both sides. Oh, and now we have a pandemic.

    Hate predictions and won't, but the downside risk is so enormous you really must guard against that event.

    Best advice I ever read was from the Elder Baron Rothschild - to survive economic turmoil, you need 1/3 of your Assets in securities, 1/3 in real estate and 1/3 in rare art. For the latter you can sub a lot of things but it ain't Beanie Babies. Most of us would sub coins and bullion.

    Buckle up boys and girls, I think it's going to be a rough ride to the election.

    and so it goes,

    peace,

    rono
     
  5. FryDaddyJr

    FryDaddyJr Junior Member

    get help
     
  6. Bman33

    Bman33 Well-Known Member

  7. baseball21

    baseball21 Well-Known Member

    People are throwing around terms like this way to much from the virus. This is still a long way from being a pandemic or epidemic. Even in the worst areas it’s still a minuscule percentage of the population there

    Summer is coming soon and viruses have a harder time spreading in the heat and humidity, the same thing happened in 2002 with also a new coronavirus type with the difference now and then is that the media wasn’t fanning the flames 24/7 about it back then.
     
  8. desertgem

    desertgem Senior Errer Collecktor

    The governments or international agencies may not call it an pandemic,hoping it disappears, but most of the specialists do call it that because of the definition: specifically denoting a disease that spreads globally over many countries, and infects a large number of people. It has nothing to do with the death rate or number of individuals. An epidemic would be a significant increase in the number of cases in a lesser area. Jim
     
  9. -jeffB

    -jeffB Greshams LEO Supporter

    The southern hemisphere has questions.
     
  10. baseball21

    baseball21 Well-Known Member

    Except you’re missing the large number of people. Something like 0.0000000001% of the worlds population has been infected if that. Specialists are not calling it a pandemic world wide or in the USA except maybe some on tv looking for air time. If you want to panic though go right ahead. South Korea is the closest to having one and even there the percentage is minuscule

    Can look it up if you want. Germs from the mouth spread further in cold dry air then they do in hot humid air.
     
    GoldFinger1969 likes this.
  11. -jeffB

    -jeffB Greshams LEO Supporter

    You do understand that summer isn't "coming soon" in the southern hemisphere, right?
     
  12. baseball21

    baseball21 Well-Known Member

    Yes I do, they've got a few weeks of summer left
     
  13. yakpoo

    yakpoo Member

    Anyone else watching the oil markets? Gold's gonna go NUTS!!!
     
  14. Santinidollar

    Santinidollar Supporter! Supporter

    Before you lose all reason over gold prices, you need to add up the economic damage from oil in the $20s first. And, no, lower gasoline prices will not offset that damage.
     
  15. baseball21

    baseball21 Well-Known Member

    Getting to be crazy cheap crude prices with Russia refusing to cut production.
     
  16. Santinidollar

    Santinidollar Supporter! Supporter

    Oil has lost a third of its price so far today. Gold and silver both down. I’d guess profit taking to cover losses elsewhere. Further evidence that no asset class moves in a vacuum unto itself.
     
    yakpoo likes this.
  17. yakpoo

    yakpoo Member

    The 10Y Treasury dipped below 0.48% this evening...unbelievable! We were at 1.9% just a couple of months ago.
     
  18. Santinidollar

    Santinidollar Supporter! Supporter

    And those loading up on Treasuries now at sky high prices will take a tail kicking later when interest rates rebound, which they will. The investor’s best friend now is cash.
     
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Maybe...but as portfolio diversification and a hedge, it's a winner.

    Duration must be close to 25 years.
     
  20. yakpoo

    yakpoo Member

    Perhaps this is a blessing in disguise. Folks need to realize that over-production (Globalization) leads to deflation...and lower rates are just a temporary pain killer.
    Eventually, the Piper must be paid.

     
  21. -jeffB

    -jeffB Greshams LEO Supporter

    For those following along at home, the World Health Organization has announced that this is now a pandemic.
    But I'm sure the WHO Director General is just looking for TV air time.
     
    Heavymetal likes this.
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