$2600 Gold

Discussion in 'Gold' started by slavaja, Feb 24, 2020.

  1. pennys

    pennys Member

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    Just people taking profit. I thought about it but think there is more short term upside.
     
  2. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Yup, a breather... we're back again boys 'n girls!

    GIDDY UP!
     
  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Isn't it ironic how we scream manipulation when we want to sell but then beg for it when we want to buy :D
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Generally, I’m not really bothered if the price falls as I’m taking a long term view. At the moment, cash is going to be just as important because there will be a chance to scoop some stocks cheaply. IPReady said he has 80% in cash and only 5% in paper gold. This made me start thinking. :)

    The virus is going to have a social, political and economic. The economic fallout will hit the hardest.
     
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  6. Silver260

    Silver260 Well-Known Member Silver Stacker

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    Regarding the short term PM pricing, I'm beginning to cautiously view the recent events from the perspective of the GFC.

    If things deteriorate significantly, I feel the following will possibly play out......

    The flight to the USD will intensify, as a perceived safe haven, which will smack down PMs. When the reality kicks in, that the US isn't immune to the economic impacts ( pun intended ), money will flow into PMs. Basically a replay of the GFC.

    Only time will tell.....
     
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  7. pennys

    pennys Member

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    I don't fully agree with the following but another narrative:

    Tech stocks going up and old fashioned industrials going down in 2020 has been the market pricing in a Democrat winning in November. Silicon Valley pretty much owns the Democrats.

    Obviously some tech is a climate change hedge. I would guess too that Silicon V. are the majority of crypto bagholders and looking for an exit.
     
  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Agree, this calls for caution, but timing is also important as the window of opportunity will be narrow, probably only 1 week or just days.

    The GFC is really a WFC, West Financial Crisis. The hit on Asia is just a recession, not a financial crisis. Whereas the corona black swan is Asian centric, and has a potential to cause a financial crisis that will arise from some Asian city. When this happens, everyone will be rushing for physical gold to get out of the banking system.

    All gold will be out of stock within days, or dealers will be selling gold bullion at 5% premium.

    Another variable is GLD. If HSBC breaks, will it cause a run out of GLD? If so, gold might plunge. I should say paper gold.
     
    Last edited: Feb 27, 2020
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  9. Jason1

    Jason1 Well-Known Member

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    that boggles my mind, stock for companies that make huge profits go down while stocks for tech companies who only rack up billions debt and have and likely never will make a profit go up.
    that tech market aint rigged at all lol ahaha
    you gotta give it to silicone valley, they sure know how to sell dog stocks.

    If there was going tobe a crash IMO it has tobe from a tech bubble, thats why I dont hold any tech stocks, those things are f'n scams, minus the very few that actually make real profits.
     
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  10. silverhair

    silverhair Well-Known Member

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    How can the USD be a safe haven if they print it off like tony and paper is free? PLus they have an idiot in charge at the moment and tall their major parties are in disarray ....

    the USD is not what it once was. This is why China and Russia have been converting their USD into bullion.
     
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  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Haven't read a more sensible post on this forum since signing up. The USD will be toast within 5-10 years.
     
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  12. pennys

    pennys Member

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    Your point is finally getting debated in MSM.

    Overvaluation in and out of tech. Utilities and things considered staples are in 20s P/E ratios up from their long term 8 to 12. Shares like CSL are off the charts expensive given they are hit hardest if virus is pandemic in the USA. Shares like big 4 banks might be massively overvalued given the neo banks and the one or two useful things that will be appropriated from crypto.
     
  13. silverhair

    silverhair Well-Known Member

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    Forgive my ignorance and terrible grammar, but what is MSM?
     
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  14. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Main Stream Media
     
  15. JOHNLGALT

    JOHNLGALT Well-Known Member

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    What Donald J. Trump calls "FAKE NEWS". (like CNN). ((CIA News Network)).
     
  16. silverhair

    silverhair Well-Known Member

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    thank you
     
  17. madaw1

    madaw1 Well-Known Member

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    Good on you!-better something than nothing...
     
  18. madaw1

    madaw1 Well-Known Member

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    They must have more clever leader than USA-perhaps...
     
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  19. pennys

    pennys Member

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    Actually doesn't matter if fake or not. I follow mainstream closely because it's what the majority believe (or may be they don't believe and a reasonable person knows it's entertainment, according to a recnet legal defense).
     
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  20. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    I've been hearing that for 10 years+......
     
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