Gold Price, How Low Will it Go??

Discussion in 'Bullion Investing' started by fretboard, Sep 27, 2022.

  1. fretboard

    fretboard Defender of Old Coinage!

    Like many other countries the US economy is in the toilet and it's showing in the price of gold! How low will it go? I don't know, my guess is $1575 within 2 months but what do I know, I'm just a guesser like everyone else! :D The link is to another guesser Lior Gantz and his low on gold is $1400 and for silver his guess is $13-$15! His low guesses are at around 5:00 in the Silver Seeker video! Damn, wouldn't that be nice, hell, I'd even think of buying silver at $13-$15, depending on the premiums listed! :) Just sharing as I'm not buying gold today but I will be very soon, how about you? :D

     
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  3. J.T. Parker

    J.T. Parker Well-Known Member

    Bought all the gold I plan on buying when it was $900. I actually prefer silver but the added 0's were best for my investmenting.
    J.T.
     
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  4. Sallent

    Sallent Live long and prosper

    I think mid $1400s is certainly possible. To be honest, wouldn't bother me. It's better to always buy an item when it's on sale rather than when prices are climbing with no end in sight.
     
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  5. Clawcoins

    Clawcoins Damaging Coins Daily

    I would like to see $200s.
    But I think those times have passed. So I'd settle for the mid $1400s to start buying again.
     
  6. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I think that the more relevant question here is this: "How high will the dollar go?" Gold prices in dollar terms have gone down mainly because of higher interest rates pushing the dollar up against other currencies.

    Personally, I'm waiting until the $1500 mark to dive back in for a few double eagles. That said, I do not like the long-term outlook for the dollar as a store of value, so this is really more of an insurance policy than anything else.
     
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  7. FredJB

    FredJB Active Member

    To my way of thinking the price of gold is acting unnaturally. The world economies are all having a hard time. That would (should?) mean that people with money are looking for a safe place to store their wealth which traditionally would be gold causing the price of gold to increase in dollar terms. Instead the gold price is sputtering and retreating to lower levels which makes me suspect that the "big boys" are playing games with the market. I think they are trying to corner the market by suppressing the price of gold causing the gold holders to sell at bargain prices.
     
  8. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I recall reading a post similar to yours early in the pandemic, which focused on how the "paper gold" price bore little resemblance to the cost of physical delivery.
     
  9. Sallent

    Sallent Live long and prosper

    I think it makes perfect sense. Going into a global recession the demand for gold jewelry, electronic products that use gold, and investment gold will probably go down somewhat.

    I don't buy that whole paper versus physical, just an excuse for dealers to rip you off. There's great low premium deals to be had with gold if you stay away from the American stuff. Gold eagles and buffalos are a rip off, but some of the European, Australian, and Krugerrands available with much lower premiums.

    Silver on the other hand the premiums are nasty. If you do go for some nice generic kilo bars you can potentially get three to four dollars above spot, at the American silver eagles are the biggest ripoff at the moment. If premiums collapse during the recession a lot of people are going to feel like idiots for paying $35 for a coin that now may only be worth 15 bucks. Some people are going to wait a long time to make a profit on those.
     
  10. FredJB

    FredJB Active Member

    That sounds very true when thinking about the futures market where investors can buy and sell gold that often exists only on paper. That is where the gold market prices are currently being manipulated I am sure. How low will it go? Who knows? Best thing we small buyers can do is to wait until it hits "our" price and then jump in by buying 1 oz pure gold coins, ten at a time for the best price in a state that doesn't charge sales tax on bullion sales. If you must travel across state lines do not carry cash, for safety get a bank check made out to the dealer who will sell the gold.
     
  11. fretboard

    fretboard Defender of Old Coinage!

    Wouldn't bother me either, I'm looking forward to it, I'm saving up as we speak! :smuggrin:
     
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  12. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I buy regardless of price, low or high, the coins I buy today will be passed on to
    my children and probably there children as well, and whats it going to be in 30+
    years I have no idea or for that matter next week...LOL
     
  13. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Gold is getting hit as the 10-year Treasury bond decisively crosses 4%. We're at 4.12% as I type this.

    Some people are saying we could be headed for 4.50% - 5% on the 10-year.
     
    fretboard likes this.
  14. fretboard

    fretboard Defender of Old Coinage!

    Yes, I've been holding up on a large buy as I truly believe the POG is gonna go south as even Bloomberg has forecast a recession within the next 12 months! I'm saving up so I'm ready to buy! :D tmoney - Copy.gif

     
  15. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    I think now is a good time to buy...I wouldn't "load up" or deploy ALL cash reserves. But we are 20% off the ATH and down in recent months so I think nibbling here makes sense.

    Could we trade into the $1,500's ? Sure. But I think downside for gold is much less than some "safe" investments.

    Folks who bought the 20-year Treasury bond YESTERDAY at auction are already down 3%. Buyers of last August's 30-year Treasury bond are down almost 20% in 3 months. This is with "safe" and "risk free" securities !! :D
     
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  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Doesn't sound to safe to me...LOL, Iam not psychic so cant tell the future unfortunately, if I see something I like or is part of my birthday list will buy, you
    will drive yourself crazy going in and out of the market or trying to figure out
    when its the right time to buy, if anybody knows send me a PM..LOL, I can keep a secret :)
     
  17. Santinidollar

    Santinidollar Supporter! Supporter

    We’ve had such artificially near-zero interest rates for so long that there are many who don’t realize that 4 1/2 to 5 percent are normal.
     
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  18. Clawcoins

    Clawcoins Damaging Coins Daily

    when I bought my first house in the 90s the mortgage interest rate, which I got one of the best rates at the time, was in the 7-1/4% range.

    I've always wanted a zero % car loan like they had years ago but I was never in the market for a car during those times.
     
  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Its all about timing, and when the stars align...LOL
     
  20. -jeffB

    -jeffB Greshams LEO Supporter

    Everybody knows the only thing you can do that with is BTC, right? ;)
     
  21. Clawcoins

    Clawcoins Damaging Coins Daily

    BTC ?
    Big Time Candy ?
    upload_2022-10-20_22-31-44.png

    I can't collect that.
    Because I'd end up eating it.
     
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