Gold Keeps Pounding Away!!

Discussion in 'Bullion Investing' started by fretboard, Jul 21, 2020.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    It will be cool if PM’s can hang on to some of this foothold. But I fear this rise has been much too rapid.
    -jeffB likes this.
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  3. fretboard

    fretboard Defender of Old Coinage!

    Actually I'm surprised the price hasn't gone back down yet but I would never try to figure out what gold is gonna do next. I make guesses but they're not very good ones at all! :singing:
  4. Collecting Nut

    Collecting Nut Borderline Hoarder

    I expected a market correction last week but it never came. There will be one soon but who knows when? Not me.

    Not me! That guy did an awful lot of things, especially when I was younger. I don't know how it does it but he's still following me around. Lol
  5. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    I wouldn't and am trying not to also, but in a general sense I'm thinking up. Up as long as Covid and the reactions to it continue... We might see a pullback for the month end...but I'm thinking up again after that...and maybe not the way the futures are going
  6. fretboard

    fretboard Defender of Old Coinage!

    Yep, Covid-19, the protests, quantitative easing to the hilt and everything in-between! The world is in quite a mess, not just the USA, it's across the board!
    xCoin-Hoarder'92x likes this.
  7. yakpoo

    yakpoo Member

    Not what I would wear boating...
    Randy Abercrombie, Tuco and fretboard like this.
  8. yakpoo

    yakpoo Member

    Based on what? Did the Treasury's printing presses suddenly break down?
  9. Santinidollar

    Santinidollar Supporter! Supporter

    A market correction can come at any time in any market, generally without much or any warning.
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Tuco likes this.
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    I can't think of one commodity that has gone straight up. They all go up but have market correction. Then they go back up and evidently another correction hits. This is repeated until something major changes and then a high it hit. Then the price goes down. Until, guess what, a rally takes place. And that process it repeated until a new low is met. Any experienced investor will tell you that it's more dangerous in a downturn market than when the price is climbing. But no one and I mean no one can be correct in what the market will do.
    Last edited: Jul 26, 2020
    GoldFinger1969 and yakpoo like this.
  12. Tuco

    Tuco Active Member

    That was fast!

  13. yakpoo

    yakpoo Member

    This is why Dollar-Cost-Averaging is so important to building wealth.
    Collecting Nut likes this.
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    And it's not just gold, it's gold, silver, platinum and palladium. They're all up and they are up by large amounts.
  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    slackaction1 and yakpoo like this.
  16. yakpoo

    yakpoo Member

    Are they up...or is the Dollar down?
  17. masterswimmer

    masterswimmer Well-Known Member

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  18. yakpoo

    yakpoo Member

    I'm just pointing out that PM prices can move based on supply/demand fundamentals...or based on the value of the underlying currency.

    In other words, it's not uncommon to see Gold go up in dollar terms, while simultaneously going down in Yen terms (or Euros, Yuan, Rubles, etc)...or vice versa.

    Fluctuations in currencies is far more common than fluctuations in the supply/demand of a particular PM...and affects ALL PMs equally.
  19. GDJMSP

    GDJMSP Numismatist Moderator

    Read the forum rules, they explain why.
  20. Collecting Nut

    Collecting Nut Borderline Hoarder

    They all went up yesterday.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Up $36 an ounce..... may hit $2,000 by early-September when a focus on the election hits.
    Tuco likes this.
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