$2200 Gold.

Discussion in 'General Precious Metals Discussion' started by ozcopper, Feb 17, 2021.

  1. ozcopper

    ozcopper Well-Known Member Silver Stacker

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  2. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    It's a bloodbath! Hoping it rallies overnight :/
     
  3. PMCollector

    PMCollector Active Member

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    I feel it's a buying opportunity, maybe if lucky we will hit US$1700, then strong bounce or maybe the teacup just plays out.

    This so far has been quite a sharp pullback, but kinda normal if look at previous downward moves from high point, resulting in higher moves afterwards. Not advice, just my own observations.

    Jan 2000 pullback 546 days -19.2%
    Apr 2006 pullback 154 days -19.5%
    Mar 2008 pullback 224 days -27.8%
    Feb 2009 pullback 56 days -12.7%
    Sep 2011 pullback 1582 days -43.82%
    Jul 2016 pullback 168 days -17.4%
    Mar 2018 pullback 154 days -12.7%
    Mar 2020 pullback 7 days -11.56%

    Aug 2020 pullback 196 days -12.18%
     
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  4. alor

    alor Well-Known Member Silver Stacker

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  5. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  6. heartastack

    heartastack Well-Known Member Silver Stacker

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    Will remember this period as worldwide peak lunacy (however, it will likely get even more retarded)
     
  7. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    The opening credits of SHTF has begun, the “Great Reset” based around an ordinary seasonal flu has just played. How hard the goblins behind the curtain will play this remains to be seen but it is clear that they want an economic crash and an end to ordinary people being able to travel between countries any more. How this will play out for metals or any other asset is anyone’s guess.
     
  8. heartastack

    heartastack Well-Known Member Silver Stacker

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    Day 9 of my seasonal flu quarantine box. It's hard enough being in 5 star accom... really looking forward to them rolling out the regional detention centers. That'll learn em! Those travelling scum!
     
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  9. PMCollector

    PMCollector Active Member

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    Data from the Fed shows that M2, rose from $15.34 trillion at the start of the year to $18.72 trillion in September, an increase of $3.38 trillion equates to 18 per cent of the total supply of dollars. It means almost one in five dollars was created in 2020, and they haven't stopped yet... Once governments print money, they can't stop, they have to print more.. they have gone past the point of no return now, ultimately history and basic economics show this always will lead to currency destruction...

    so yeh I agree, SHTF soon :D
     
    Last edited: Feb 17, 2021
  10. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Dumping gold for BTC?
     
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  11. ozcopper

    ozcopper Well-Known Member Silver Stacker

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    I think our all time high was $2850. If you minus 20% you get: $2280. It is currently at $2291. So if this is a normal 20% decline, it may be getting near the end.
     
  12. PMCollector

    PMCollector Active Member

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    I think BTC and gold are complimentary, so I don't dislike bitcoin...there's enough room for both going forward... but I really do have a chuckle when I hear nearly everyone I know who owns BTC say they cant wait to change their crypto to gold or silver when it reaches 100K.
     
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  13. dozerz

    dozerz Well-Known Member Silver Stacker

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    not sure anyone is saying they will change it all, its symbolic of a new asset class outperfoming the old when everyone said it would never happen.
     
  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Imagine selling hard assets for digital bits
     
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Last edited: Feb 18, 2021
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  16. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Not imagining, I’ll be doing the very thing. BTC upside in the next decade has the potential to be multiples of anything gold has to offer.

    And the medium term plan is to stake our ETH when I’ve got my head around it. Just working out whether to add more ETH to become a full validator or just join a staking pool.
     
  17. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    I think that time has past. Sure, gold will continue to appreciate, but it and BTC going forward are held for the same reasons, so holding gold comes at an opportunity cost. I'll keep a small portion of gold in my portfolio, but looking to offload most.

    That's not me. The plan is to hold BTC and stake ETH.
     
  18. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  20. Ag bullet

    Ag bullet Well-Known Member

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    "I'm a bitcoin billionaire....then one day there was a solar flare....."
     
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