Gold hits $1600 USD and $2336 Aud

Discussion in 'General Precious Metals Discussion' started by sctpc, Jan 8, 2020.

  1. whay

    whay Active Member

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    Such self shrilling/pumping has zero credibility and are frequently used by many dubious $hitcoins sites.
     
  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    There's quite a plethora of worthy bloggers:

    J.L. Collins is good and I believe one of the "original" FI thinkers https://jlcollinsnh.com
    Mr Money Moustache is popular across most demographics https://www.mrmoneymustache.com
    Used to read a bit or ERE too... (he's Scandi, so one sympathises) http://earlyretirementextreme.com
    Just on minimalism https://www.theminimalists.com/minimalism/
    So young, radical and... Canadian... https://www.millennial-revolution.com
     
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  3. Silver260

    Silver260 Well-Known Member Silver Stacker

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    @jultorsk listed up some excellent sites. My preferred format, at the moment, is podcasts. Simply because it suits my lifestyle better.

    I have a predominant focus on motivation over practical implementation, if that makes sense, as I've developed my own processes and systems for managing my money. A system that suits my need for a, single, decent Flat White coffee every day.... Lol.

    Good podcasts are like good movies, rare, and often involve selling something. But I'll listen to the following...( some of which aren't necessarily FI related, but still help me focus)

    Choose FI
    You Need A Budget
    Dough Roller
    The Stacking Benjamin's Show

    The Minimalist Podcast ( these guys also have a reasonable doco about their experience)
     
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  4. SilverDJ

    SilverDJ Well-Known Member

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    Gold seems to be holding above US$1600, if it can do that for another week then I think there has to be a big breakout.
    The all time high of US$1900 can't be that far off.
    And imagine if (when) there is another GFC, look at what happened to gold after the last GFC starting 2009. If that same percentage gains repeats itself we are looking at US$4k gold long term after a GFC.

    upload_2020-2-20_11-30-22.png
     
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  5. heartastack

    heartastack Well-Known Member Silver Stacker

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    damn, looking at that chart I can’t imagine how insane a blow-off top is going to be. Wowzer
     
  6. sctpc

    sctpc Active Member

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    Its been a crazy day but tonight at Midnight Australia time could just drop away just as the Comex opens, no idea that would ever happen $1636 is a CRAZY rise even if they force it back to $1600 thinking new low.
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The buying has slowed down after Wednesday. Peak was the week before when gold was around $1580. I don’t know about the published figures but i track the moving inventory. Just before a major upswing in spot, physical buying activity spikes, even if spot languishes. This also happened between Oct 2018 to Feb 2019. Spot was very Low at that time but physical buying was furious.
     
  8. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    I'm UP for $1900UsD
     
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  9. alor

    alor Well-Known Member Silver Stacker

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    [​IMG]
     
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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Perhaps, but so far, the chartists have been more wrong than correct in the recent months. All the pullbacks had been shallow.

     
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  11. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    I'll take $1700USD too!
     
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  12. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Well, that was a nice bump to open the week with.

    [​IMG]
     
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  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Wow, so I was right in following the smart money. Hard to believe that this was less than a week ago.
     
  14. pmbug

    pmbug Active Member

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    I think folks in the USA are finally waking up to the market impacts of the coronavirus which appears to be spreading globally now. US equity markets are already ludicrous (bubbles everywhere). Bond markets aren't much better. Money has to go somewhere.
     
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The situation has deteriorated, 12 months cash for daily living expenses is no longer sufficient.
     

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