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grubstake

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To far of a climb,  just my opinion. 

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Could do it Grub. With all the crazy stuff going on, it could go higher. Never know.

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I think the only things that would drive it that high, that fast, is if the Fed did a sudden interest rate drop, or we had some critical worldwide geo-political event. I would not be surprised to see it at $1600 in that time period, though.

Jim

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Another thing that might drive it very fast is a big decline in the stock market. With interest rate near zero, the only place to put money from stock sales is either precious metals or mining stocks. Those are the only really undervalued assets. If it keeps jumping like it has the last few days, that could get a mania started. If that happens, $2,000 in the next 30 days may be a low prediction.

Jim

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The folks that do technical analysis are calling for resistance mid 1700.

Anytime there is a big upswing( in anything) there tends to be backfilling.

IOW,as the price goes up, more supply comes to the market,,,The oversupply then dampens the price rise(backfills).

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The only thing that mitigates against this is a limited supply, except on paper. At some point in this phony interest rate debacle, investors are going to demand physical gold, not paper.

 If people settled for paper gold, they'd be better off buying BItCoin.

Jim

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6 hours ago, frank c said:

I enjoyed it when it hit 1800, helped with the cost of living for an ol timer!

I sold out at $1504 cash per ounce. It was the very best financial decision I have ever made. I took that nest egg and made a heck of a lot more money with it than if I had kept the gold. 

 

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17 hours ago, shep said:

Might have to dump the pounder if it does.

Just make sure Shep if that does happen, you're standing in front of the Elephant . . . :)

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On 8/9/2019 at 9:01 AM, BMc said:

Just make sure Shep if that does happen, you're standing in front of the Elephant . . . :)

In my readings,I have come across the saying," "I've seen the elephant",,,which basically means that person has undergone great hardship, usually associated  with migrating West(think 49'ers,travel by covered wagon,horseback/mule or  on foot.

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I see those little dinks in my jar growing in size :thumbsupanim   Heck, maybe I'll be able to use it for my daughter's college after all. 

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This situation makes the detectors like GB2 and Gold Monster and even the older Whites Gold Masters more valuable... Heck, when you find a half grammer worth 25 bucks that's not too shabby...Dinks galore!!! ... So I'm guessing $1,700 by Oct. 1, followed by a brief plunge before inching back up again ... Cheers, Unc

 

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Unless you've got a butt load of silver I wouldn't for a while, but stay on top of price and be ready to sell if it appears to be plunging...I probably won't be selling my silver or my gold for a while.. Cheers, Unc

 

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