Gold to get whacked tonight

Discussion in 'Gold' started by Slimey, Feb 23, 2022.

  1. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Inches towards ATH in AUD. ;)

    Screen Shot 2022-03-09 at 6.45.18 am.png
     
  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    What's it going to be....ATH's or a Wall Street drive by?

    Lets see the junior gold and sliver miners can grab onto the tail of the overnight price increase.

    The DJI or S&P500 haven't fallen out of bed...only down 0.50/0.75%
     
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  3. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    You need to update your profile pic. :D

    upload_2022-3-9_8-5-55.png
     
  4. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    as expected.. AUD had a ‘short’ freefall….Metal chugging along nicely….

    serious whack on metals has past….yet!?
     
  5. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Better to get whacked off than whacked on.
     
  6. Fred Rouda

    Fred Rouda New Member

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    2200 whacked off this week.

    Whack whack
     
  7. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Silver just dumped a dollar in short order. It's a bumpy ride.
     
  8. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    AUD has gone back up…
     
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  9. heartastack

    heartastack Well-Known Member Silver Stacker

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    What I like about silver these days is that since mainstream adoption of crypto and the wall street bets fad silver looks domesticated by comparison. I think this makes it more accessible to people as a monetary metal as well.
     
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  10. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Prices for gold and silver marching downwards in both USD and AUD....
     
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  11. Fred Rouda

    Fred Rouda New Member

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    Yeah prices dumped hard as the night.
    Not good. Hopefully only temporary
     
  12. heartastack

    heartastack Well-Known Member Silver Stacker

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    Sure as shit when the metals are red crypto is green and the other way round as well
     
  13. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    Crypto is green cause Biden asks FED to investigate legality of it….just another speculation…

    go BIG on CRYPTO!
     
  14. heartastack

    heartastack Well-Known Member Silver Stacker

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    Yeh these whales are using any scrap of news for these mini-pumps
     
  15. Fred Rouda

    Fred Rouda New Member

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    Well the hard dump of last night was temporary it seems. Regained about half of that damage at current price.. Trend suggests it'll drift a bit higher in next few hrs..
    See what happens
     
  16. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    gold is sitting comfortably above $2000USD
     
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  17. SlyGuy

    SlyGuy Active Member

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    You guys talking doom and gloom are crazy...

    Do you read the news? 'USA to do $350M draw down for Ukraine,' 'USA approves $200M in weapons for Ukraine with additional draw down,' '$10B bill in US senate vote for Ukraine humanitarian assistance.' Just wait until the massive 'stimulus' bills for USA economy boosting and bailouts start later this year. Oh, and by the way, US has printed/created over $100M every single day even before this new Ukraine war began. Now, US is pouring more money than ever into Russia/Ukraine and into making their own oil and clean energy since they won't buy from Russia anymore. Energy costs are going way up in USA, and they will have to print to provide social services to keep people with heat and electric and gasoline. There are 3 things to know here:

    1) US dollar is world reserve currency.
    2) "Draw down" is something you do when you have savings to draw from. US is a debt nation (like nearly all are). When they say "draw down," they are printing massively (just like 'stimulus' for 2008 housing crisis or 2020 covid... when gold spiked up).
    3) Gold supply is not increasing; it cannot. When the supply of money (esp world reserve USD) goes up, gold goes up soon after as well. Well technically, gold does nothing, the money goes down relative to it.

    So, what is the logical conclusion here? Gold spot price will POP due to all of the new money going into supply... likely up 25% or 50% in the next year or two. The only question is how much it goes up and how fast. Buy as much as you reasonably can. Take some profits if you like, but there will be a considerable surge upcoming....$3000 gold oz is not at all out of the question in a year or two. Gold price always has a bit of a lag, but it catches up to money supply. Bank on it (or don't... doesn't matter to me :cool: ).
     
    Last edited: Mar 13, 2022
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  18. madaw1

    madaw1 Well-Known Member

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    Very pessimistic-I think if the war in Europe will last few month or years Au can get to $4000 even$5000 in 3 years.(hopping I'm right)...
    PS: Warren Buffett quote: During war time don't hold your cash in Banks or under mattress....
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Those weapons are old inventory that needs to be cleared anyway. So it's an accounting entry. Stingers are already old tech that is to be replaced. The US has been preparing for this war for at least one year. The stuff might have even been sent into Ukraine before the approval. :D
     
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  20. STKR

    STKR Well-Known Member Silver Stacker

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    Lol - Emergency Use Authorisation
     

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