Gold Just Hit AU$2,000

Discussion in 'Gold' started by GoldenEye, Jun 20, 2019.

  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Not sure if this can happen now?
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Yes looks more unlikely as spot has been all over the place. Im still not convinced we have seen a proper correction yet. Maybe we won't see one at all.
     
  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Only way it can happen is if there’s a trade deal on the 10th October.
     
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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Will have to wait and see. Just as likely trump will back out last minute as he did with taliban peace deal.
     
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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Most likely. Trump is in no rush. Your loss is my gain. It's alright if we both lose, as long as you lose more.
     
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  6. mrsilverservice

    mrsilverservice Well-Known Member

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    Market Closed - $2,221.79

    AUD - $0.68

    Gold seems to have consolidated to me with the move up the only thing that makes sense in this increasingly gone mad world :confused:

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    The Book of Proverbs Chapter 29 verse 23

    The fear of man brings a snare,but whoever trusts in the Lord shall be safe :)
     
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  7. mrsilverservice

    mrsilverservice Well-Known Member

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    Gold is still running with the bulls but continues to find some resistance.

    I heard a whisper that there has been some move on the trade war between the US and China but I doubt things will change up to and after the US federal election next year.

    What ever happens Gold will always remain yellow :D

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    The Book of Isaiah Chapter 9 verse 2

    The people who walked in darkness have seen a great light,those who dwell in the land of the shadow of death upon them a light has shined :)

    ( I know you read this and hope hat the light of The World shines on you)
     
  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Still people calling a correction to 1430 usd, some as low as 1375 usd. What are everyone's thoughts? If the fed cuts rates again, trade war eases, gulf is quiet, I see stocks stabilising and spot falling. Equally likely that something unexpected will pop off and tip the sp500 down, shooting gold up.
     
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  9. SilverDJ

    SilverDJ Well-Known Member

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    It is literally a (1oz) coin flip.
     
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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I've still got some stocks on hand, and a penny stock that can fall much more in 2 hours than gold falling from $1550 to $1375. Even though the S&P hasn't gone down, a lot of stocks have halved over the past 1 year. Only the big names that are being propped up by index buy/passive investment have not gone down.

    Look at Apple and Boeing, barely dropped despite the trade war and all the recent bad news. Look at the Apple chart it's crazy, the stock is back or nearly back to all time highs and is over a trillion dollar market cap.

    Apple is telling you that the world is now no longer about manufacturing or even technology. Apple overpriced phones are not the latest technology by the way and the iOS was much better when Steve Jobs was alive.

    https://www.google.com/search?tbm=fin&sxsrf=ACYBGNTXamfLtBnz5URW74-gZDFV0uYM5A:1570875701103&ei=NamhXfqFBoDWz7sPkp-OyA0&q=apple&oq=apple&gs_l=finance-immersive.3..81l3.867.1308.0.1424.7.7.0.0.0.0.117.385.4j1.5.0....0...1.1.64.finance-immersive..2.5.384.0...0.JItMCHk2uW4#scso=_N6mhXf2QGe3Sz7sP15GQiAU9:0
     
    Last edited: Oct 12, 2019
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  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I'm not enough of a gambling man to buy stocks, just getting ready to back up the truck at 1375 USD if we swing that way. Considering a leveraged position to buy 10 ounces but don't think it's a smart move. Will buy whatever I can afford if it happens.
     
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I bought those x2 or 3 silver etf over 10 years, mostly lost and didn't have much luck with these. I usually get in at the wrong time and if it's leverage with time decay, I'll panick and sell it to cut my loss. After a few rounds, I'll be losing more than winning.
     
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  13. SilverDJ

    SilverDJ Well-Known Member

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    Both gold and silver are both barely hanging in there at 2 month support levels, so the odds aren't bad that it could drop a bit more short term. Gold looks on less solid ground in USD than AUD.
    So maybe worth holding off if you are penny pinching and already have decent holdings.
    If it retraces back to AU$2000 I'll start backing up the truck.

    upload_2019-10-12_23-53-7.png
     
  14. alor

    alor Well-Known Member Silver Stacker

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    hope there is opportunity of price and availability of gold items for purchase heading to the new 2020
     
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Interesting to see that everyone is expecting sub-$1400 gold while paladium is heading towards $2000 soon?
     
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  16. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    And with that opportunity you’ll be able to put your commo ideals into practice and give away all the profits you make in the future to all the Filipino maids and local cleaners that are all exploited by capitalists in HK.

    Or you could just keep your profits and they can all go back to the Phillipines and get jobs as prostitutes and drug mules.
     
  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  18. openeyes

    openeyes Well-Known Member Silver Stacker

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    The charts are definitely suggesting 1430 or thereabouts but the price has been surprisingly resilient over the last few sessions considering lower demand that has been described.
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Read some anonymous comment that BREXIT if it happens this month may cause gold price to soften. If it happens of course.
     
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    From what Ive been listening to, the various financial institutions and government bureaucracies in London have been putting in place measures in the event that Brexit does occur. For example foreign European banks will be able to continue trading in Britain without current licenses being voided, trade contracts can continue etc. The players most affected by any potential changes are already all over it.

    What this means for gold I'm unsure. But we may see 24 - 48 hrs of turmoil as the market toys with the idea that the world will end - this may result in a brief spike in the POG as it did during the 2017 referendum result, but then after the dust settles the POG may drop a little. So if anyone is considering selling and taking some cards off the table, October 31 may be worth keeping an eye on.
     
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