Hi, I'm watching the trends and prices, signs and forces of the market: are we really at a two year low in gold's price? Silver is still holding on. Weird, how that volatile "poor man's gold" is holding on there at 27+ $! Opinions on where gold will go? (Before it bounces back) What forces/signs/events can you identify for the warm months period (spring, summer)? I'm particularly interested about spring and summer prices... Might be a good opportunity to buy PMs. I'm trying to pick the bottom, of course... If silver would dip really low, that would make it especially delicious!
question is, what's stopping you from buying now? (an honest question really. i want to study people's perception on the markets during different phases. seems like people are more hesitant to pull the trigger when it drops really low)
I think the lack of a rise in prices after Cyprus has ruined confidence in PMs. Whether or not the market genuinely didnt rise is another question
You are right - I also hesitate when it's down. People tend to buy more when it's going up rather than when it's headed down. Wicked - buy high, instead of seizing the opportunity. In my case: I see it go lower, so I hesitate - believing that it can go even lower! Picking the bottom is the hardest thing. There are tons of signs telling us that gold will dip lower. Some say 1,200 $, I'm pretty sure it will go much lower. Working on picking the bottom. I'm also eyeing silver... The latter might hide an even better opportunity...
What do you mean by that? I don't think the Cyprus scenario has ruined PM's reputation. In fact, in the early days it did rise. There are other forces that are pulling PMs down: dollar gaining strength in comparison with other currencies (despite QE), Chinese holidays approaching these days (bearish outside markets), no major central bank purchase of gold... so not much stimulation for gold's price.
Yes, it should. But there might be other forces pulling it down. Perhaps Cyprus alone has a slight influence, but giants like Goldman Sachs might have seized the opportunity to sell... After the first days of the Cyprus turmoil, gold spiked. And I thought - this might be it: it might eventually rise... but afterwards it dipped. There might be other forces dragging it down. ETF sellings? Don't forget the "paper gold" on the market - they sell it like gold. Almost everything has a surrogate, you know... but it influences prices. :/
Correction: Gold has reached a 19 month low, we still haven't reached a 2 year low. Gold's price today is the lowest since mid July 2011! Will it touch 1,200 $? How low can it go? How low can you go, gold? http://www.youtube.com/watch?v=cWCOhRxUHDs
Gold and Silver price explained by short term traders and Mr. Schiff - long term position. http://video.cnbc.com/gallery/?play=1&video=3000136594
Not sure where it will go, but AU$1500 is low enough for me to grab another oz, will bring my average cost down nicely
Picking the bottom...I'm not afraid $1377 Gold Usd Silver is harder so I say $17.50 - $22.49 Usd When well...this year I am interested in watching the gsr and some are saying at 60 / 1 or now even swap gold for silver I see the logic as many people including myself expect the gsr to be around 30 / 1 in 2-3 years. Then you can swap silver for gold and so on. As we know things don't always go to plan so caution is needed
Armstrong still sees 1100ish as the bottom needed to clean out the longs and get things moving again. Pukeworthy.
@TreasureHunter Even after my personal jibes at you for being bearish, you've been uncannily right about gold so far. I think you should be commended
Did Kitco's screens crash at $1377? Anyway .....the bottom went a tiny bit more but this makes things interesting http://m.elkodaily.com/news/what-s-...11e2-a9ff-0019bb2963f4.html?mobile_touch=true
