POG Drop Within 3 Months?!!

Discussion in 'Bullion Investing' started by fretboard, Jun 2, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    Here's what so and so is saying below on Kitco! I wouldn't count on it but you never know, I certainly can't call it, how about you?? Personally, I've never heard of them but all I own is a couple of Dos Pesos Gold coins, so what do I know! j/k laughhard.gif
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    News Bites
    'We expect a considerable drop in gold prices', says ABN Amro
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    Anna Golubova
    Monday June 01, 2020 16:57

    Kitco News

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    (Kitco News) Gold positioning remains very crowded, according to ABM Amro, which is why the Dutch bank is not recommending re-entering long gold positions at the moment.

    “We continue to think that positions are too crowded and that prices are too high to recommend re-entering longs,” ABN Amro precious metals analyst Georgette Boele wrote in a report last week.

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    The bank is projecting a major drop in gold prices within the next three months, citing another risk-off wave in financial markets. ABN Amro’s outlook has gold ending Q2 at $1,725 an ounce.

    “We also expect a considerable drop in gold prices,” Boele said. “Between now and 3 months we expect another risk-off wave in financial markets. We think that investors will close part of their positions (ETF and/or speculative positions) in gold, silver and platinum.”
    https://www.kitco.com/news/2020-06-...erable-drop-in-gold-prices-says-ABN-Amro.html
     
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  3. myownprivy

    myownprivy Well-Known Member

    God, you post a lot of useless junk, don't you?
     
  4. fretboard

    fretboard Defender of Old Coinage!

    Easy solution, don't look at it! :D
     
    Paddy54, Nathan401 and Collecting Nut like this.
  5. losthomer

    losthomer Active Member

    Lighten up, Francis.
     
    medoraman likes this.
  6. Rono

    Rono Senior Member

    Tuco likes this.
  7. fretboard

    fretboard Defender of Old Coinage!

    Wow, they reached really far back for that story! We never know, truly PM's are a bit of a gamble but I'll stick with it! Luckily I love gold! :cigar:
     
  8. Tuco

    Tuco Active Member

    Interesting take by Egon von Greyerz. I was a history major in college and will keep an eye on his twitter. If he's right about a silver explosion to $50 he'll likely be replacing the great Egon Spengler an my new favorite Egon. :)

    egon.jpg
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    If Kitco believes that I would listen to them and watch the market carefully.
     
  10. fretboard

    fretboard Defender of Old Coinage!

    Well, quite a drop today, not huge but it's a drop and noticeable! ;)
     
  11. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    It's too high now! Let's all panic and sell sell!
     
  12. fretboard

    fretboard Defender of Old Coinage!

    Actually I was thinking gold would have already hit $1750 for two weeks but it hasn't happened yet. It will, it will just take longer than I thought!
     
  13. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Dang.... And here I was planning my retirement.
     
  14. goldcollector

    goldcollector Member

    Gold is going to drop and silver is about to take off. Where have I heard that before ?

    Translation --- Sell us your gold at today's prices and take all this silver off our hands ( before it takes off you know )
     
  15. yakpoo

    yakpoo Member

    Last edited: Jun 12, 2020
  16. medoraman

    medoraman Supporter! Supporter

    I sure hope it crashes. I haven't bought any over about $1400 spot. I would like to Scrooge Mcduck some more. I hope it all comes tumbling down so I can get a larger share.:)

    I am not a good bug, but like collecting some coin designs only found on gold.
     
  17. Santinidollar

    Santinidollar Supporter! Supporter

    Gold had an interday high of $1,753 today.
     
  18. goldcollector

    goldcollector Member

    How many times I have heard these stupid predictions that Gold is gonna crash or the stock market is "gonna fall 70%", which with all the stop loss measures in place would be impossible anyway. Constant stupid predictions which always conviently ignore the fact that they are always wrong. The only thing that seems to crash hard for long periods is silver. The most hyped asset in the history of the world.
     
  19. masterswimmer

    masterswimmer Well-Known Member

    Not nearly as many times as you've heard and will continue to hear, 'honor your commitment to @Garlicus and pay your debts you thief'.
     
    Garlicus and Santinidollar like this.
  20. fretboard

    fretboard Defender of Old Coinage!

    Yep, always great news but I'm still waiting for this drop in the hopes that I can buy more! Honestly, I don't think it will drop substantially but we'll see! :)
     
  21. Santinidollar

    Santinidollar Supporter! Supporter

    Well, Monday’s stock futures ain’t looking too swooft. If a typical Recent pattern holds, gold will get a boost.
     
    fretboard likes this.
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