$2400 Gold

Discussion in 'Gold' started by herkyderky, Jan 30, 2020.

  1. herkyderky

    herkyderky Member

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    It just keeps creeping closer with gold hitting a new high of $2365 a few hours ago.

    At this rate it will be at $2400 by next week, whats everyone's thoughts on the outlook if it gets there. Is this just a reaction to the coronavirus disruptions?
     
  2. STKR

    STKR Well-Known Member Silver Stacker

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    I would say it's more of a reaction to the recent yield curve inversion. With the Aussie dollar falling against the US recently and a growing demand for both physical and paper gold, I believe the outlook is very bullish. I still want to see a breakout over $1600usd before I get excited, but it looks very promising in my view.
     
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  3. Ag bullet

    Ag bullet Well-Known Member

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    i've been wanting to buy for some time so i want it to come down.
     
  4. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    already $1583USD...GIDDY UP!
     
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  5. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    The arse seems to have have fallen out of the AUD.

    Are the markets factoring in lower demand for Aust iron ore and coal from China....or an RBA "Coronavirus" interest rate cut come Tuesday?

    BTW: a new AUD Gold record high of AUD2368.06 as I type.
     
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  6. madaw1

    madaw1 Well-Known Member

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    Don't wait,just buy-it looks expensive,but can be even more expensive in the future...
     
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  7. JulieW

    JulieW Well-Known Member Silver Stacker

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    $2400 by close next Friday.

    Should I get in early with the "$2500" Gold thread?
     
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  8. madaw1

    madaw1 Well-Known Member

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    The people eventually has realized ,there is no other secure investment like gold...
     
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  9. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Exactly. Just bite the bullet and do it. If you have some gold already, justify a purchase as part of a larger dollar cost average play, especially if the price continues to go up (which it certainly looks short term). Besides, any gold is better than no gold ;)
     
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  10. madaw1

    madaw1 Well-Known Member

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    Who knows?- Maybe even another Rhodium news on the way?....
     
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  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Gold will never be Rhodium. The supply is too big and there's too much gold in private hands. Once the price doubles, a lot of people will be selling their jewellery. Speculators can't corner such a large market.
     
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  12. madaw1

    madaw1 Well-Known Member

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    That's true-there was only comparison to Rhodium in terms of recently increase gold price...
     
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  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Chinese market opening on Monday. Have been loading up gold this past week. I think Western markets have underestimated the Wuhan virus. But I maybe wrong as I was with the Iran situation. If it's really an accidentally leaked bio-weapon, then we're all screwed.
     
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  14. 1for1

    1for1 Well-Known Member

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    Whereas silver on the other hand ...

    I am bullish on gold, but uber bullish on silver. Real supply can get gobbled up with a small demand shift . People from any other time in the earths history will look at disbelief at how utterly cheap silver is comparitively (to everything).

    Gold does seem expensive especially for a long term accumulator seeing the price go up 250% over the last decade or so, but agree with other posters just bite the bullet as we will just need to rationalise the higher prices and acknowledge the future price direction will likely be up from here.

    I see $10000 bitcoin and i think gold can now break through . BTC paved the way for crazy high alt money investments, ironically i think it will all flow to gold when the house of cards comes down and all the way inbetween.
     
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  15. SilverDJ

    SilverDJ Well-Known Member

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    I stop watching the game for a little bit, and geeze look at the POG-AUD!
    If it gets back to US$1800, and I see no reason why it won't, and higher, then that's AU$2700
    And silver as usual is just, meh.

    upload_2020-2-9_20-28-23.png
    upload_2020-2-9_20-29-39.png
     
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  16. Jason1

    Jason1 Well-Known Member

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    if its in reaction to an event then likely not the most sensible time to buy, once that reaction disappears so does the FOMO.
    Gold is a good investment but be careful of FOMO,
     
  17. SilverDJ

    SilverDJ Well-Known Member

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    Also, a lot of the rise in AUD is due to the drop in the AUD. Could easily go back up and the POG in AUD falls again through absolutely no action that's effecting the POG elsewhere.
    Toss a coin really.
    But yeah, I'm not buying any more at present, happy with my allocation.
     
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  18. Faraz

    Faraz Member

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    Corona Virus has influenced gold price and price maybe dropp after sorting the virus. On the other hand, Aud value dropping and that shooting up the gold price. I feel price will be up until July and will drop near us election.
    To be honest, I hope price drop as I love buying gold and silver
     
  19. JulieW

    JulieW Well-Known Member Silver Stacker

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    Considering the Australian dependency on an economically strong China (currently fast disappearing), the AUD is headed down and will give us $2400 sooner rather than later. I thought we'd see AUD at 60c, but I think 50c is entirely possible.

    My exit plan was predicated upon an initial sale of 50% of my tiny hoard at $2400, and 50% again at $3000, however considering the State of the World, I may revise those marker points.
     
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  20. madaw1

    madaw1 Well-Known Member

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    I hope too,but I'm afraid that AUD will go down sooner than later and gold will rise even more....
     
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