Where will gold go from here?

Discussion in 'Bullion Investing' started by Dynoking, Jan 27, 2020.

  1. Dynoking

    Dynoking Well-Known Member

    Is it time to be bullish or bearish?

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    CHART OF THE DAY: GOLD—A BREAKOUT OR DOUBLE TOP? Since gold futures (/GC–candlestick) broke out of its downtrend (yellow line) price continued to move higher until the 1580 level. It almost looked like it would reverse from there but instead it hesitated and then started moving back up toward 1580. It remains to be seen if price will break above this level or if it’s going to act as a resistance level again. Chart source: The thinkorswim® platform from TD Ameritrade.
     
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  3. furryfrog02

    furryfrog02 Well-Known Member

    I predict it will either go up....or down from here :)
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    Either way, it will be interesting to watch.
     
  4. crazyd

    crazyd Well-Known Member

  5. -jeffB

    -jeffB Greshams LEO Supporter

    What's the gold price going to do in 2020? I'll tell you in about a year.
     
  6. $2000? If gold hits $1800 I’m a seller.
     
    Dynoking and crazyd like this.
  7. JCKTJK

    JCKTJK Well-Known Member

    I think the flu news is pushing it up a little, other then that who really knows??
     
    Dynoking likes this.
  8. furryfrog02

    furryfrog02 Well-Known Member

    Flu? What flu? - China
     
  9. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I think we all need to distinguish between the short and long term here. In the short term, I imagine gyrations ranging from 1400 to 1700 are probably possible. What interests me more are the long term dynamics. From what I can see, increased central bank demand for non-dollar reserve assets, combined with an eventual reevaluation of inflation risk in the US based on skyrocketing deficits, could potentially set the stage for a significantly higher price in future. Recall that our current monetary system unanchored by gold really only dates to the 1970s; who is to say that it will be around forever?
     
    Dynoking, JCKTJK and Heavymetal like this.
  10. JCKTJK

    JCKTJK Well-Known Member

    yes
     
  11. Heavymetal

    Heavymetal Well-Known Member

    We’re like John Candy driving down the interstate the wrong way.
    Just turn up the music
     
    BuffaloHunter likes this.
  12. Troodon

    Troodon Coin Collector

    Up, down, or stay the same. At some point all three will happen.
     
    -jeffB likes this.
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    It will go up! It will also go down! You see, if I knew the answer to your question, I'd be taking out as many call or put options as I could.
     
    Troodon likes this.
  14. Bman33

    Bman33 Well-Known Member

    No one selling a little gold? I think if you Dollar Cost sell at this point, a little once a month would be good. At 1580 Gold is doing the best it's done in years. Grab a little profit while you can but by no means dump it all. Climb the ladder!
     
    Dynoking likes this.
  15. WoodyWW

    WoodyWW Junior Member

    I predict that gold will continue to go up b/c last Nov. I sold 2 of my gold coins when gold was $1466 :mad: Had 'em both since the 1970's. But I just happened to go into a LCS that gave me a fair offer for the coins, so.....

    More seriously, I watch Bloomberg TV a lot, & listen to what a lot of money managers are saying (people who are usually stock or bond-centric); & more & more are suggesting gold.

    I think I'll keep what gold I have, unless it goes to $2500 or thereabouts. And a lot of us get attached to our collections, & some of those beautiful coins.....
     
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  16. -jeffB

    -jeffB Greshams LEO Supporter

    But dollar cost averaging works to your disadvantage when you're selling -- it leads you to sell less when it's high, and more when it's low!

    I don't have a good strategy for selling more when the price is high and less when the price is low. Lots of people can dollar-cost average for buying, because most people have money coming in on a regular basis. Few of us get PMs as a weekly or monthly salary/dividend/whatever. If we did, I guess you could sell a fixed weight of PM each month, getting more dollars when the prices is high, and less when the price is low...
     
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  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    If things go wrong/unexpected in November, gold will shoot to $3,000 in a blink. You could have a mini-1970's move.

    That's all I'm saying.:D
     
  18. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    No matter who wins in November, "things" will be right for ~50%, and wrong for the other ~50%. So, $3000 no matter what then?
     
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    No, you have certain policies being proposed that would send BILLIONS into gold overnight.

    Has nothing to do with which party or candidate wins in November per se, I am talking about fundamental changes in the economy and private property rights akin to double-digit inflation in the 1970's and the end of fixed-exchange rates in 1973.
     
  20. -jeffB

    -jeffB Greshams LEO Supporter

    Negative interest? If cash balances decay, that would certainly alter the expense equation for PM maintenance...
     
    GoldFinger1969 likes this.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Negative interest rates are certainly a new phenomenon, but are only an existential threat to money market funds and a nuisance to banks.

    But wealth confiscation and confiscation of private property are 3rd World-ish. That's what made American Double Eagles a hit all over the world from the 1850's through 1930's.
     
    Last edited: Jan 28, 2020
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