Gold price to go steady, dips imminent?

Generali

1984ReturnsForReal wrote: »

Half an ounce of farmland please.

I will settle up the end of the month.

A mort-gage (death pledge) would enable you to buy land using the income the land generates to repay the loan.

If fiat money is going to pot then what better than to be short fiat money and long land?

globalds

People flock to something like Gold ...Then reality dawns on them ..That someone in Tottenham or Hackney a few weeks ago isn't going to be able to negotiate an equitable exchange when he brings out his Gold.
You may as well buy a gun or a piece of something that is harder for someone else to run away with when the kind of scenario's that are predicted to make a rare commodity such as gold go on a crazy up hill run.....Actually start to come true.


25 tonnes of Gold haven't kept the mobs from Gaddafis front door.

Maybe this is where inflation starts ?
Once all that cash that is tied up in Gold starts wondering, prices of other things will start creeping up.

Ark_Welder

DiggerUK wrote: »

Haven't seen any reports of more margin hikes, anybody heard anything?
..._

Shanghai Stock Exchange and CME again from today (25th)

bendix

Geoff23 wrote: »

If you think the price is going to drop again (enough to cover the losses incurred during the transactions) then indeed why not.

I hope it does, but I don't think it is going to.

Meanwhile, back in the real world, the price has slumped $170 or 9% in the last 3-4 days.

Generali

Mr_Mumble wrote: »

If there is a catastrophe there's a fair chance it'll be thanks to a chemical or nuclear disaster. How are the farmers around Fukushima doin' right now?

To be fair, there probably isn't a hedge against being hit by the biggest earthquake in Japan's living memory followed by a massive tsunami and the local nuclear plant going pop except perhaps a lead rowing boat. Even then I can see one or two problems......

vivatifosi

Mr_Mumble wrote: »

Three weeks ago I said gold was looking rather toppy. It's still $100 higher today than at the start of the month! Gold is acting out an awful lot like Silver did in April. Sure, anyone who bought within a couple of weeks of the peak may look foolish but anyone who bought any other time in the past decade is a very happy bunny.

That's the crux isn't it? Anyone who bought gold in the past decade is a happy bunny. Buy and hold. For a long time. Trading in the short term - in anything - is very risky yet it is how many people around these parts speak. They infer that they are not banks and they are not playing with a wide and diversified portfolio. I do sometimes wonder if I'm hanging out in a community of day traders. This isn't a criticism aimed at you MrM, just talking about the more see-saw nature of posts in general - buy gold, buy houses, sell houses, buy gravy (in-joke the last one).

kabayiri

2 good things about Gold in an Armageddon situation :-

1) it's quite pretty to look at (take your mind off the unfolding chaos)
2) when all the dentists have scarpered to safer havens gold is pretty useful when mending one's own teeth.

Really2

Well I sold some scrap gold finally earlier this week as I thought it could not go much further (only around 1oz of 9ct). Glad I did, it's just metal.

I personally thought reaching virtually the same cost of platinum per oz was an indicator of just how inflated it had become.

mr_fishbulb

Generali wrote: »

It gives the lie to gold being the ultimate store of value. An efficient store of value wouldn't go flying up and down in price like this.

Exactly. You can't have something which protects wealth, but at the same time can generate wealth.

sabretoothtigger

Biggest Gold Drop Since December 2008 Sends Metal To... Week Ago Levels




http://www.zerohedge.com/news/biggest-gold-drop-december-2008-send-metal-week-ago-levels

Right now the price is at 1710 which is same as 8th of August over 2 weeks ago.
I think this is normal, prices have no reason to go straight up and it would be worrying if that were correct.

If its a normal market it should be rising on average or year on year increases.

If I were a speculator I'd look to 1700 as a mirror of 1900 and a possible point it could rise from. Its in line with the average difference over the last couple years so its back to normal really.
I'd call that true all the way to 1584 though if that price happened right now it would be drastic I'd agree.

(healthy) Markets dont move in straight lines


[I still think 2000 is possible this year and we'll see rises on average]