How long 'til gold drops below $1200 again?

Discussion in 'Bullion Investing' started by myownprivy, Jan 8, 2018.

  1. myownprivy

    myownprivy Active Member

    It's been almost a year since gold was below $1200. I really want to buy some full ounces, but these prices are ridiculous. $1320!
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  3. rickmp

    rickmp Frequently flatulent.

  4. Clawcoins

    Clawcoins Well-Known Member

    Yup, I'm waiting too.

    You'll just have to wait. Until then, save up your money so that you can buy more.
  5. Michael K

    Michael K Well-Known Member

    $1320 won't be ridiculous if it is $1500 before the end of the year.
    If the stock market goes down or the dollar gets weaker, or North Korea blows up the Cayman Islands, gold will probably rise.
    KevinS and LA_Geezer like this.
  6. LA_Geezer

    LA_Geezer Well-Known Member

    Peter Schiff is talking about this precisely.
    KevinS likes this.
  7. Clawcoins

    Clawcoins Well-Known Member

    if ... if ... if .. if

    back when gold rose above $400 an ounce I decided to wait until it dropped back down to buy some. It never did. Then I thought the same thing at $600, $800, $900, $1,000.

    Sometimes if you really want something just go ahead and get it.
    Otherwise just wait and hope it goes back down.
  8. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    PROBABLY the very LAST person I'd ever listen to. I think that before we see another MAJOR move in gold, we'll need to see a lot of volatility, like seeing $1200 and $1500 within a single year.
    Nathan401 and JAY-AR like this.
  9. LA_Geezer

    LA_Geezer Well-Known Member

    That's your prerogative.
  10. Kevin wu

    Kevin wu Well-Known Member

    I don't think you will ever see blow 1200 again.
  11. sakata

    sakata Devil's Advocate

    Totally agree they are ridiculous. If I had any spare cash I would be buying it up like the Russians and Chinese before it gets much higher.
    spirityoda likes this.
  12. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Yeahhhh, but I heard that about $1600, $1500, $1400, and $1300, too.
    baseball21 and Don P like this.
  13. myownprivy

    myownprivy Active Member

    If it stays around this price by midyear 2018, I'll still make my regular purchase.

    However, I'm sure we'll see it go up and down just like last year in response to world events, ups and downs of demand, and regular old speculation about what will happen next.

    My (smallish) purchase of gold every year is just a little extra savings in addition to everything else.
    spirityoda likes this.
  14. Duane Charter

    Duane Charter Member

    The buyer controls the market. The market is merely the point where someone is willing to buy. If no one is willing to buy...the market must go down. But, if one person is willing to pay the price…that is the market.
  15. sakata

    sakata Devil's Advocate

    Could not be further from the truth in the gold market. All it takes is for a bank to dump a few thousand short contracts and the price tumbles. They do it almost every time it gets too high for them.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  17. Kevin wu

    Kevin wu Well-Known Member

    That is exactly what happened to the silver and gold market right . Bank control the PM price , until one day they out control , the PM price will skyrocket , same thing like 2008 happen again , the dollars will become just paper .
  18. cpm9ball

    cpm9ball Cannot Re-Member

    Free Predictions: $50 each!
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  19. Kevin wu

    Kevin wu Well-Known Member

    Lol only $50 for predictions? That so cheap.
    KevinS likes this.
  20. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    baseball21 likes this.
  21. Don P

    Don P Active Member

    Me too! Except, the premium on anything minted by the government is so much higher than that.
    V. Kurt Bellman likes this.
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