Gold Price and the Covid-19 Vaccine!

Discussion in 'Bullion Investing' started by fretboard, Nov 23, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    True dat! :D
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  3. FryDaddyJr

    FryDaddyJr Junior Member

    what a load of garbage. Gold and PM's will lower just as they always do during Democratic Presidencies.
  4. medoraman

    medoraman Supporter! Supporter

    Does that include Carter when it spiked to inflation adjusted all time highs? I don't think political party affects it.

    Myself, I think people will overlook deficits and gold will lower with Covid abating and people needing money to rebuild businesses. I would think $1500 gold by end of 2021
  5. FryDaddyJr

    FryDaddyJr Junior Member

    people who buy gold aren't worried about deficits. I think PM will go back to 1,200-1,300 Gold 12-16 Silver
  6. Pardon me but, your comment is vague and provides no details to specifically what makes these actions occur. My belief is the "split" government will help to aid against ANY drastic movements or actions Democrats may have hoped to do yet, some instability should still be expected at times.

    Case in point, I utilize "options" on Gold and have been SHORTING this metal with points of $20, $25 and $30 downward movements and have profited substantially in past weeks. It is my belief many are attempting to keep from being harmed from Gold and...are piling funds into the stock market as the strength is there now.

    Maybe many of you understand my philosophy and begin your process of monetary gain in fluctuations too. Good luck and be careful yet...let's make money.
  7. fretboard

    fretboard Defender of Old Coinage!

    Does your prediction have a time frame?
  8. medoraman

    medoraman Supporter! Supporter

    Don't understand that. I thought many gold investors buy gold BECAUSE they are worried about inflation, exactly what deficits will eventually produce.

    I expect a cash drain from pm lowering them next year, but long term these deficits have to be bullish for all pm. Short term, its more about alternative investments, world demand, etc. I think worldwide people will forget about pm some to rebuild their lives post Covid, but the whole world has racked up debt and it has to come home to roost eventually. If it did drop to $1200-1300 I would be a little more aggressive buying, at around $1400-1500 I would switch back to my slow acquire mode like I was in post 2013 until this year. I bought most of the gold I own in this timeframe.
  9. FryDaddyJr

    FryDaddyJr Junior Member

    in a year, maybe two i think you'll see sub 1300 buying opportunities
  10. slackaction1

    slackaction1 Supporter! Supporter

    One more run left for selling opportunities..........hope you guys are wrong...........your on the clock...
    fretboard likes this.
  11. fretboard

    fretboard Defender of Old Coinage!

    Time will tell, I have no idea where the price is going. High or low, we'll see soon enough! :D
    thomas mozzillo likes this.
  12. Vess1

    Vess1 CT SP VIP

    The incoming Treasury secretary just made a statement the other day that in this time of crisis the government needs to spend extraordinary amounts to keep things going and thinks they made a big mistake not doing so in 2008. From March 24th 2020 to now the US debt clock has increased 4 trillion in 8 months and we never got the second stimulus that everybody wanted. I don't know what "extraordinary spending" will look like but I thought we were already there this year. I guess I was wrong. I see no reason why PMs would be dropping ever again to be honest. We can't even grasp the concept of how much money is being created now compared to just five to ten years ago.
  13. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Interesting point @Vess1
  14. manny9655

    manny9655 Well-Known Member

    If that keeps up, the dollar will crash, not with a whimper but with a thud. Hyperinflation will ensue and your paper dollar won't be worth the paper it's printed on. Foolish. That's why Mnuchin needs to be fired and quickly.
  15. Vess1

    Vess1 CT SP VIP

    Hate to break it to you but the next treasury secretary is going to make Mnuchin look like an old lady with one of those snap close change purses counting out exact change.... You haven't seen anything yet.
    Pickin and Grinin likes this.
  16. fretboard

    fretboard Defender of Old Coinage!

    Agreed! :D
  17. crazyd

    crazyd Active Member

    I collect modest amounts of PM coins for fun, emergency savings, and I suppose protection against some unlikely catastrophe of the value of the paper goverment money. While I see the vacinne being a boom late next year -more jobs coming back in so many industries like food and travel - I dont know how we deal with debts so high and other issues. Not going to sell my coins for paper cash right now no matter price points. I still own stocks and bonds of course in my 401K - just coins have their special place.
  18. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    I believe if you check the charts you'll find the ups and downs have nothing to do with which party held the office.
    fretboard and UncleScroge like this.
  19. fretboard

    fretboard Defender of Old Coinage!

    Yes, I agree with you, it doesn't matter if we have a red or a blue in office! What matters is demand and right now demand is high! :D
  20. GoldFinger1969

    GoldFinger1969 Well-Known Member

    The dollar is not crashing, hyperinflation exists only in Argenina, and the dollars is the Global Reserve Currency.

    Mnuchin leaves in January.

    Thanks for playing ! :D
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    That assumes the parties today believe what they did 30 or 40 years ago.

    Hint: they don't.
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