How deep will gold's correction go?

Discussion in 'Gold' started by TreasureHunter, Mar 6, 2021.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    We are roughly 10% down this week and the next two levels are somewhere in the 1500 $ and 1300 $ range.
    I believe we will actually go all the way down to 1500 $. That would means a roughly 20% correction from the all time peak (actually more than 20%).

    Gold sinking down to 1300 $ will be a rare buying opportunity and a possibility if the anti-Corona vaccinations go well, if there will be more social-political stability in the west and if the economies will start to recover (the demand for USD's will actually soar).

    It is very important to watch the Gold Performance chart (and I believe very few people do so) - here's the main reason why gold is better than a bank (just compare interest rates to the gold price change):

    [​IMG]
     
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  2. alor

    alor Well-Known Member Silver Stacker

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    new comer are buying into gold, so it is still going down
    when they start taking profit, gold will continue the climb
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    I don't necessarily believe the argument that if interest rates rise, then people will turn away from gold. On a yearly basis, gold still performs better than banks.
     
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    A rising gold price is the first sign of inflation and they dont want that.
    I dont think the collapsers want any safe havens this time. They want the prices beat down.
    That means stack more because it wont last forever. When that train takes off it wont wait for anyone.
     
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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    It looks to me the price of gold has bottomed for now. The US Congress has passed the stimulus bill. Stock market will also be breaking new highs. :D
     
  6. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    BIDEN had passed bill... So keerching!!!!
    Monday here we come!
    :D:D:D:D
     
  7. TreasureHunter

    TreasureHunter Well-Known Member

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    Could be.

    Do you know any online resource that lists/shows all QE's/stimuluses initiated so far? I lost count. But it would be interesting to visualize (including this recent one).
     
  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    We have to look macro. QE is only one aspect, the supply and demand dislocation caused by the pandemic will drive inflation. The idiotic green new deal only makes it worst. Watch oil, it’s going up and no one is talking much about it as the MSM is filled with crypto news. I only regret not buying more energy in October last year. The ME looks like a timebomb. Biden is playing delay tactic with the Iranians. The new defense secretary looks tough. With the opening up, oil is going to be much higher by July even without the geopolitics. Yields are going to spike but new activities in the ME and surging oil price (and food prices) will force gold much higher.
     
    Last edited: Mar 8, 2021
  9. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    I think we are about to see a turn in the tide as well as a shortage. Gold is always last to react.
     
  10. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Bonds are more attractive than gold currently.
     
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  11. Jason1

    Jason1 Well-Known Member

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    yer have to wait till stimulus checks stop coming, so stocks and bonds likely be the flavour for a little while longer. this year is going to be a bubble year IMO, next year is going tobe the covid hangover for stocks I recon
     
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I think the inflation could come pretty quick, maybe $100 oil by August. If the ME situation worsens, breaking ATH is also not impossible.
     
  13. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    I wonder what the next stimmy will be called since this is THE "covid relief bill."
    Maybe the "post recovery stimulus bill" or the "it didnt work last time so try it again bill".

    It's nice to see my oil stocks where they are but higher energy will be enough to crush some people on tight budgets.
     
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  14. alor

    alor Well-Known Member Silver Stacker

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    ^ just sanction the virus out of exit tense lol
    out the door virus, read the bills
     
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Biden having dementia, cannot do anything so Trump sanctions will remain forever. :p

    Just play dumb. What can they do? Meanwhile, the Fed will print and print until oil $200, rice $100 per bag. Now they can pump bitcoin, maybe next time they will play rice. :D
     
  16. alor

    alor Well-Known Member Silver Stacker

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    US continue to sanction Russia, one day NASA will forget that they ordered rockets from Russia
    Oil can stay low, the over productions, but price will be adjusted due to cartel reductions, and oil refinery are being attacked
    pretty video
     
  17. alor

    alor Well-Known Member Silver Stacker

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  18. TreasureHunter

    TreasureHunter Well-Known Member

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    Could Biden be the 3rd anti-Christ?
     
  19. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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  20. LiverBird

    LiverBird Well-Known Member Silver Stacker

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