Discussion in 'Bullion Investing' started by fretboard, Jul 21, 2020.
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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!
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
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
Not what I would wear boating...
Based on what? Did the Treasury's printing presses suddenly break down?
Up another $23 overnight.....all-time high....if you can't see the article, hit your PRINT function and then you can read a few paragraphs.
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.
That was fast!
This is why Dollar-Cost-Averaging is so important to building wealth.
Are they up...or is the Dollar down?
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.
Read the forum rules, they explain why.
They all went up yesterday.
Up $36 an ounce..... may hit $2,000 by early-September when a focus on the election hits.
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