2020 Collapse

RT article says gold could hit 2,000 $ this year:

"Gold prices can spike further this year, beating the highs they reached in 2019, with market analyst Fawad Razaqzada expecting the precious metal to hit $2,000 an ounce.
Bullion prices continued to reach higher during the last trading day of 2019, with gold for February delivery up around 0.5 percent, trading above $1,525. The yellow metal touched its highest level since September, when it stood at around $1,540 an ounce.

“I think gold has everything going for it in 2020,” Razaqzada told Kitco News, adding that even if bullion misses the forecast price, it is still set to rise in the new year.

“Gold’s technical outlook remains bullish given that breakout in the summer from a 6-year-old consolidation at $1,350 and the subsequent bullish consolidation we have seen in recent months,” he noted. “So long as gold holds the breakout above $1350, the long-term technical bias would remain bullish.”

Meanwhile, MarketWatch columnist Mark Hulbert has predicted that this year gold price is set to rise more than $100 per ounce or 6.9 percent. However, he doubts that it will hit any records given the historical precedents, inflation expectations, and gold-timer sentiment.

[...]"


Full article:
https://www.rt.com/business/477172-gold-new-highs-2020/
 
TreasureHunter said:
RT article says gold could hit 2,000 $ this year:

"Gold prices can spike further this year, beating the highs they reached in 2019, with market analyst Fawad Razaqzada expecting the precious metal to hit $2,000 an ounce.
Bullion prices continued to reach higher during the last trading day of 2019, with gold for February delivery up around 0.5 percent, trading above $1,525. The yellow metal touched its highest level since September, when it stood at around $1,540 an ounce.

“I think gold has everything going for it in 2020,” Razaqzada told Kitco News, adding that even if bullion misses the forecast price, it is still set to rise in the new year.

“Gold’s technical outlook remains bullish given that breakout in the summer from a 6-year-old consolidation at $1,350 and the subsequent bullish consolidation we have seen in recent months,” he noted. “So long as gold holds the breakout above $1350, the long-term technical bias would remain bullish.”

Meanwhile, MarketWatch columnist Mark Hulbert has predicted that this year gold price is set to rise more than $100 per ounce or 6.9 percent. However, he doubts that it will hit any records given the historical precedents, inflation expectations, and gold-timer sentiment.

[...]"


Full article:
https://www.rt.com/business/477172-gold-new-highs-2020/
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We better pay attention to this guess, it's obviously better than anyone else's uneducated guess.

If only they'd guess that gold could hit $5000- that'd be more valuable.
 
sgbuyer said:
I have take back what I have said, there’s no restriction on cash payment but if it exceeds sgd20k, identity will be taken. Overhead this from the customer service while collecting the silver I bought in Nov. A young Indian chap, about 30 years old asking to buy 400 grams with cash.

While we stack silver bars, lunars and kooks, Indians stack gold bars. The Chinese stack apartments.
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Damn, everytime I see an Indian buys gold bars at the LCS or bank, gold jumps soon after. I should have bought another batch right away!
 
1,550 $ - this is madness! :eek:

Could we see 1,600 $ gold next week? :rolleyes:

It's a vertical spike. These either don't last for long (if that's the case, we'll see a correction in 2-3 weeks) or, they're part of a bigger bull zig-zag. It could be the latter, though... o_O
 
Gold has nowhere to go but up as Trumps economy crumbles. He cries for negative to interest rates and more inflation as he pumps his bubbles but it wont help in the end, hes doomed to fail.
The only thing important is that his big Corp CEO buddies get their record bonuses as everything else collapses before our eyes.
Illegal immigrants entering in record numbers, jobs leaving and manufacturing crumbling.
Let's bomb the middle east now.
Sure there will be some dips like always but 2020 is already being touted as bullish for gold like never before.
The world is rejecting the dollar as Frump cries for negative interest rates and endless printing.
Fascism never last forever.
 
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JohnnyBravo300 said:
Low volume with central banks hoarding record amounts?
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The trading volumes are low as most funds are closed for the holidays. That means as limited sell orders get closed by buyers, the price shoots up. Couple that with asset switching due to upcoming gulf war 3.0 and you get a crazy spike like this. Itll either settle in the next fortnight or correct back down to 1475-1500 USD before the true bull run begins.
 
66rounds said:
The trading volumes are low as most funds are closed for the holidays. That means as limited sell orders get closed by buyers, the price shoots up. Couple that with asset switching due to upcoming gulf war 3.0 and you get a crazy spike like this. Itll either settle in the next fortnight or correct back down to 1475-1500 USD before the true bull run begins.
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This has nothing to do with "funds". Check out the below chart, and scan down to the bottom part of the chart. You will notice the difference in volume from the last head fake up (was much higher volume than now), compared to the last few weeks. I'm referring to the pretty colored bars.

http://schrts.co/cgJwbdWg
 
Jim4silver said:
This has nothing to do with "funds". Check out the below chart, and scan down to the bottom part of the chart. You will notice the difference in volume from the last head fake up (was much higher volume than now), compared to the last few weeks. I'm referring to the pretty colored bars.

http://schrts.co/cgJwbdWg
Click to expand...

Aren't we arguing the same point? The low volume currently indicates we will head back down if volume increases doesn't it?
 
sgbuyer said:
Waiting for a correction.
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"Waiting" for the correction?

waiting-sk.png


By taking account of the recent political events and oil's price... it's prolly better to DCA a bit. Steady investing.

I expect a major correction around April (around the Chinese New Year when gold traditionally breaths: seasonality, nothing extraordinary).
 
Investment Gold is almost sold out in Germany - I did some research and indeed, some the local German dealers have shortage. This includes silver as well.

Oddly, recently Germany has imposed a maximum limit for Gold investments: people can now buy a maximum of 2,000 EUR-worth anonymously.
(I find it strange that they could buy gold anonymously, because I never heard about this possibility, anywhere)

Here's a German vlogger's take on these two issues:
 
The CORRECTION - well, it's been going up for a while... all 2019... with only tiny dips and major climbs.

Please see 2018 + 2019 gold prices side-by-side:
(note the spike to the extreme right f the graph - that's what we're experiencing right now)

goldprice.png


So, we can calculate with a correction, because it's been going up for quite a while, but the momentum it has right now could propel it higher.

Yesterday some sideways trading occurred for a bit long, so perhaps that could be a "breathing" sign. Still, I'd expect it to keep climbing until around March with smaller zig-zags, but still overall climbing.
 
TreasureHunter said:
Oddly, recently Germany has imposed a maximum limit for Gold investments: people can now buy a maximum of 2,000 EUR-worth anonymously.(I find it strange that they could buy gold anonymously, because I never heard about this possibility, anywhere)
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Here in the US you can walk into a coin store and spend up to $10,000 in cash for gold/silver and walk out with the metals and a receipt and not have to give any identification to the coin store. I've never heard of having to give your ID information when buying gold/silver.

Some dealers here require your ID when you sell to them, but don't report it anywhere it is in case the stuff you sell them turns up stolen, etc. Some dealers will take a photo of your driver's license on top of the stack of stuff you sold them.
 
In Europe in many countries they scan your ID and take your address etc. data when you buy. There is no anonymous purchase.

Same goes for currency exchange.

Interesting that in some countries (like Hungary) you can indeed swap currencies without any ID's whatsoever.
 
TreasureHunter said:
Yesterday some sideways trading occurred for a bit long, so perhaps that could be a "breathing" sign. Still, I'd expect it to keep climbing until around March with smaller zig-zags, but still overall climbing.
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So this means I lost the chance to buy another batch on Friday? I was really tempted to place an order at $1445 but held back there's some speculation that the price will fall back.
 
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