$3000 GOLD WITHIN 2 WEEKS ?? YES OR NO ??

Discussion in 'Gold' started by 2nd_Hand_Gold_Man, Mar 24, 2020.

  1. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    GOLD TO DA' MOON!
     
  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Gold's now too expensive vs other asset classes. Silver is still cheap, provided you can get near spot - which is nearly impossible now. I'm waiting for the pull back to load more gold mining stocks and perhaps some SLV. Will it happen?
     
  3. Silverling

    Silverling Well-Known Member Silver Stacker

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    Nup, gold down, it certainly is not going to crack the 3K in the next 24 hours when the 2 weeks is up. By the end of the year? Maybe......
     
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The prognosis for oil is not good. Even $20 oil can’t fight with renewables. This is going to be bad, not to mention with everyone getting used to working from home and video conferencing, who is going to travel?

    There is going to be permanent reduction to the demand side that extends beyond the corona virus pandemic.

    I said previously that oil will go to zero in 30 years, it appears that I’m too optimistic.

    https://www.nytimes.com/2020/04/07/business/energy-environment/coronavirus-renewable-energy.html
     
  5. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Can't see oil going to zero. Yes, lower demand due to reduced transport demand at this time but nearly everything you touch / use / wear has it's origins in or used oil in it's manufacturing. Until a substitute production input becomes available, oil will always have a level of demand outside of transport. No clue what that demand price level will be, but it won't be zero.
     
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  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    When I say the price of oil goes to zero, I don't mean you can buy oil from the middle east and expect it to be delivered to your house at the price of $0. The price of gasoline will never be zero even if the price of oil is zero.

    The cost of a lot of commodities are virtually zero. I take the example of drinking water in south east asia. There are companies that just take tap water, pass it through a series of filters and UV sterilisers, and then sell the 1L bottle for 0.50 cents to $1. The actual cost of the tap water is $0.00001. The plastic bottle itself costs more than the water it holds.

    Yes, I know $0.00001 is not zero, but from the financial point of view, it's no different from zero.

    There are many reasons why countries will continue to supply oil even if the price of oil is zero. For example, to provide jobs to millions of oil workers that will go to the street to overthrow the government if they have nothing to do.

    I still standby my 30 years time frame for the price of oil to go to zero because it takes time for renewables to take on. Maybe it can happen earlier of course.
     
    Last edited: Apr 9, 2020
  7. Silver260

    Silver260 Well-Known Member Silver Stacker

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    I believe the AUD is going to be far more resilient than many think. So the USD rate for gold is going to have to move a lot, before we get $3k AUD gold.
     
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  8. Krakked789

    Krakked789 Well-Known Member

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    Crude oil is in trouble. There will be a concerted effort to push society onto electric vehicles under the guise of environmental friendliness, but with the real aim of fulfilling the technocratic agenda. Electric vehicles equate to autonomous vehicles, which in turn equates to restrictions on our ability to travel both freely and unsurveilled. Elon Musk is rubbing his hands with glee.
     
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  9. Silver260

    Silver260 Well-Known Member Silver Stacker

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    Honestly, I don't think anyone is going to need to "push" people in this direction. The current situation is going to make ever person, and government, rethink their dependence on other countries for resources.

    Nationalism ( and technocratic control ) will become an easy sell.

    Edit : A virus makes for the perfect enemy. Makes terrorism look subpar ;)
     
    Last edited: Apr 9, 2020
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  10. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    An interesting point and it got me thinking about the medium term when all this BS is hopefully behind us and there's only the economic mess to deal with. Cashed up investors will still be looking to invest surplus funds wherever they feel it's safe and they can get the best return. Will that be the US, some Euro or Asian countries or even Australia...time will tell. To play on a comment I heard on a vid on this forum....most if not all nations economies will look like lepers come 2021 thus deciding where to invest maybe the choice of picking the leper with the most fingers...Australia might be that leper and thus inward capital investment might push up the value of the AUD in the medium to long term.
     
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  11. TreasureHunter

    TreasureHunter Well-Known Member

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    This crisis is being heavily exploited. They will do things to us that otherwise wouldn't be tolerated.
    Brutal globalism is being pushed. States aren't independent.

    They will push towards electronic transactions and vaccinations. If electronic transactions are encouraged, then this will have an influence on gold as well.

    Corona is on the decrease in many parts of Europe, including Italy. Of course, decrease doesn't mean it's over. I personally doubt that this will stop before or during summer. It might go on until autumn or winter. And, in order to "keep the curve flat", they will have to maintain the lockdown.

    I can hardly imagine the lockdown to be simply lifter in 1-2 months time.

    Watch the downturn of Corona and see if gold's price goes down. I think it could go down (also by looking at the charts). In fact, I'm bearish, so it might take a dip before it reaches 2,000 $.
     
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  12. Silver260

    Silver260 Well-Known Member Silver Stacker

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    I rest my own case... Lol. Just appeared as part of a story on 7.

    Ps. The line on the image means my TV is just about to die.... Great timing :confused:
    IMG_20200409_193025_crop_36.jpg
     
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  13. SilverDJ

    SilverDJ Well-Known Member

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    Oil will always be required for planes and trucks unless some magical orders of magnitude lighter weight battery technology comes along. Just do the numbers and battery power doesn't add up for almost all planes and trucks.
    70% of oil consumption in the US is transport, and something like half of that is road transport.
    Even if every consumer car becomes electric (not going to happen for various reasons) a majority of oil is still needed.
     
  14. SilverDJ

    SilverDJ Well-Known Member

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    If you have say $10k in invest. You either buy 10k worth of gold or you buy 10k worth of silver. The actually physical amount you get only matters in your head.
     
  15. Silver260

    Silver260 Well-Known Member Silver Stacker

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    Twelve months ago, nobody wanted silver.... So I bought silver. Now nobody wants gold ( relatively )... So I'm buying? :)
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Do you mean I have a total of only $10k to invest? If so, I'll buy only gold. Silver is for speculation. If I were younger by 10 years, I'll put half into silver, but only if I can get silver at no more than 6-7% over spot, which is impossible so I'll probably go with all gold.

    If you mean I have $10k extra cash that I want to invest in something, then I'll buy gold miners and SLV if the stock market dumps again.
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The investment demand for gold is much more than silver, just that because gold went up so much, people are watching. Asians, especially, are generally very price sensitive to the price of gold - they won't pay too much so this limits the upside of gold. Silver on the other hand, is more of a play on the supply side. If there's a supply shock, the price can double or triple just like Rhodium and Palladium has.
     
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  18. JulieW

    JulieW Well-Known Member Silver Stacker

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    That's interesting. Can you expand?
     
  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Best thing you can do when that TV dies is throw it in the trash and never replace it.
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

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    It's so ugly when someone points a fat dirty finger at you.
     
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