Jump to content
Nugget Shooter Forums

Recommended Posts

All of you who have been sitting on your gold waiting for the right price might want to seriously consider selling out now. With the price pushing $900 an oz, there's bound to be a correction very soon. The price has gone up too far, too fast to stay here long. It may come back, but look to see the price fall into the $700 range within a few weeks.

Just like the real estate market was bound to come crashing down sooner or later, so will gold prices. Things will come back, but I feel now's a good time to make some short term profits. Buy back in after the price correction, but now's not the time to be getting in. Sell while it's hot!

Digger Bob

Link to post
Share on other sites

Hi Bob

My Financial advisor says buy buy buy while the prices are cheap at under $900 :confused0013: !! Should I put my foot in his Ass :Huh_anim]: ??? Maybe we could start a prize pool for the day and hour it breaks 1K , 1.5 K and 2 K :coffeetime: ???? I'm guessing 1 k by the end of feb 08 1.5 k by year end 08 and 2k by end of 2009 :hmmmmmm: . Since the prices on oil were guessed at by the pro's to be 60 per barrel at the end of 2007 (turned out to be 90 +)150 per barrel by 2015 and 300 per barrel by 2020 :shrug: . Face it the world is running out of oil :yikes: !! The best transaction you could do financially now is sell your truck and by a horse or bicycle but I'ld keep the gold it's gonna run with oil :broke: . Actually it's a scary thought as to what the price of oil will do to small communities and costs of goods ,foods and other products/services :PO3: !! I think :twocents: ?? Happy Huntin John B.

Link to post
Share on other sites

Hello All,

It's not like the rise of the price in the early 80's when Gold went vertical before it crashed , if you remember the interest rates were in the 20's and we just came off the Gold standard with Nixon in office . The feds announced today that the interest rates will be dropping again another half point and that is good for the gold price but not for our dollars . The DOW has been tanking pretty bad for a lot of big investors lately and they are getting nervous and when they dump their stocks they will be looking at Gold which will make the price go up again as they jump aboard , we might see some corrections but I really doubt you will see 700.00 again . This Bull run has another 10-12 years to go before its over , back in 1980 we had 620.00 rise yr(Jan. 79) to yr(Jan. 80) when gold hit its peak and right now we are around 280.00 yr to yr . Look at the first 3 days of Jan 1980 and look at the price swings "WILD" and we haven't seen anything like that yet .post-8-1200012320_thumb.png

The price was way above the 200 day moving average which was around 410.00 so it was ready for a big correction and it did , our 200dma right now is around 750.00 . I see that as a nice comfortable climb that has been keeping pace with crude oil and the devaluation of our dollar among other forces at work in the economy. So I do believe these are still bargain prices for gold and silver ..................BUY BUY BUY :woohoo:

Link to post
Share on other sites

I recently converted 20% of my market portfolio to gold bullion. So friggin glad I did and I may just do another 20% very soon. The single most driver that will make gold skyrocket will be when (notice I say when instead of if) OPEC wants (gold based) Euros instead of (air based)Dollars for oil. When that happens you will be so glad you have gold and not digitized money in a "Market"

And, I will be going through as much aurifurous material next summer with my dredge as I can!

Link to post
Share on other sites

The world and the market forces at play today are very different from 1980. I see less likelihood these days of the bottom suddenly falling out. There will be corrections, no doubt. But I think the general trend for gold values will continue inexorably upward as the dollar sinks inexorably downward and as the "Green" movement gains momentum (thus forcing the costs of gold production ever higher). This may well be a multi-year thing of ups and downs with the ups jumping higher than the downs over the long haul. And don't ignore silver -- way undervalued yet facing the same major market forces that are driving gold up.

Link to post
Share on other sites

Hi Guys,

I am bullish on gold ... BUT I feel that a close over $1000 will bring a small and brief correction before it climbs again. I am currently holding and won't buy until after that magic correction day or two ... and then as Jim Cramer would say"Back up the truck!"

Mike

Link to post
Share on other sites

Don't wait too long for a correction in the Gold market, that would be like waiting to fill your gas tank while waiting for oil to go back down to $50 a bbl.

Link to post
Share on other sites
  • 2 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...