Gold price primed for 'substantial' move up -threat of war and inflation!

I'd like to see it! Gold was at $1871 yesterday, I just wish it would topple the $2000 mark and pump up to $2200 but I don't see it happening anytime soon. I could be wrong as it's happened before! Here's Kitco and Gary Wagner on the subject!

 

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I'm more bullish than Gary and feel gold could easily reach $2800-3000 based on a Cup and Handle chart pattern seen easily on long term charts. The handle is currently forming and may even be in break out mode. Timing the move is a more complex issue.

 

Be careful what you wish for, you might get it - and all the assorted consequences.

Gold is an insurance policy you don't want to have to cash in - not a quick and risky investment strategy. I've always viewed gold ownership as a long term wealth insurance policy.

 

Yep, I'd happily watch my gold sink back to $20.67/oz if it was a consequence of peace breaking out all over.

 

A problem with gold forecasts is pretty much the same as other investment forecasts. The people making the videos and forecasts are usually deep into the market and selling the product, so of course they want you to invest and they want it to go up. That is hardly a recipe for unbiased forecasting.

 

OK, we don't have to have THAT kind of overreaction......

 

$1,900 today....BTW, Russia has been a big buyer of gold in recent years. 20% of the Russian Central Bank's holdings are gold.

 

Well, let's hope that they'll keep rattling their sabers until gold reaches a price where they're ready to sell, take their profits, and then go home.

 

Just think of all the gold adornments you could make on the cheap untill someone offended someone else and the price started to climb again.
You know all the peace on earth wouldn't last long with all the dohheads running around.

 

IF I sell my gold, What do I buy that doesnt eat monthly or get taxed?

 

I would rather see "cheap" gold and a healthy economy while I am still working, but without the latter, yeah, it needs to rise. I could see it breaking $2000 and staying above there in the not too distant future, and I base that on nothing but my own feeling.

I get that we like to see profits. I don't quite get the mentality - particularly in those in their 20s-30s nowhere close to retiring, which is where I sit - of regularly putting away savings in gold, while at the same time hoping it will go up right away and then crying "manipulation" when it doesn't. Seems they should hope for gold to stay low, or to be suppressed, while they are still in regular buying mode.

Oh, yeah. You need to sell everything and go all in on gold right now! Tomorrow will be too late! Gold is on sale! Experts are saying $14,000/Oz by next month! On a totally unrelated note, there's an armored truck in my driveway with a pallet of yellow "pavers" in the back. I should go give them a hand unloading it. Spot on observation, Valentinian!

 

I'm not a survivalist nut worrying about Weimar inflation.....but you add a bit of inflation, confiscation and freezing of bank accounts by legitimate peaceful protestors, and theft and cracking of "secure" BitCoin accounts...and I can see people making a move back to gold.

Remember, some of the biggest countries that hold gold (Russia, China, India) are very suspicious of BitCoin and crypto currency. If they were to classify them as Ponzi Schemes, it'd be hard to argue with them (not saying they ARE Ponzis, just it's EASY to make the case).

 

You make great points, and those all factor into my general feeling for sure! For all these things going on, there *should* be a rise.

I just don't put any stock in numbers that the analysts and "experts" are always throwing out. I feel some kind of a rise coming, but I'm not going to tell anyone it's going to hit $X by X date because past predictions like that show that it probably won't.

 

I think the $2,000 dollar mark may be achievable, but I think the real time threat
right now is Russia setting on the doorstep of the Ukraine ready to attack at any
moment is affecting not only PM,S , Stocks and my beloved BTC, until there is
some sort of action everything will be in sputtering mode.

 

At least today, gold up nicely and BTC taking it on the chin.

 

Yeah, but tomorrow is another day, always like the big dips on BTC, more opportunity to make $$$$$, and really isn't that what its all about

 

You act as if bitcoin is the only thing that is volatile.

Talk is cheap, prove you buy the dips.

 

Yes bitcoin sputtering for sure! Good thing you diversify fully!

 

If gold goes above the 2 grand mark nothing changes. Just don't go Doom and Gloom on me. If it goes to 2200 still won't sell. If gold reaches the 2k, will it drag the silver premiums up along with it also?

 

Premiums have relaxed a bit at my LCS, but still to high in my opinion but people still nerd to make a buck, and as long as the demand is there so will be the high
premiums.