How deep will gold's correction go?

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

  1. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Nice little climb for gold and silver this morning!
     
  2. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    ^^^
    don’t JINX it mate!!!
     
  3. Nicky P

    Nicky P New Member

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    The first sign of inflation is technically the expansion of the currency supply and credit. Everything else is an effect of inflation ie rising cost of goods and services, rising asset prices, gold price. The physical is getting harder and harder to come by. They can't keep these prices down forever but I am glad they are. If they were operating on a sound money system with the amount of paper currency out there gold would and should be valued higher. I agree when gold rallies and breaks out and we reach new highs it will be making me wish I bought more haha.
     
  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I read last year that Pelosi made a million dollar call position on Tesla in Dec. I guess that didn't turn out too well. She should have bought Dogecoin instead. This ESG is just a big pump and dump by politicians. In the end, demand and supply and fundamentals prevails over manipulation. Same theory can apply to gold versus cryptos.
     
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  6. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Gold perhaps needs to bust through USD 1800

    Silver up around USD 28.60

    Now, just where will that GSR be this time next year?

    ATM at Perth a 1oz silver Kangaroo is $38.46 AUD
    1oz gold Kangaroo is $2592.53 AUD

    The GSR is 67.4 or 67.4 ounces of silver will buy you (about) one ounce of gold in Australian dollars from the Perth Mint.
     
  7. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Premium on 1oz bar at Goldstackers is about $66.00 right now which is about 2.6% I think, doesn't sound like physical is too hard to come by at the moment.
     
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  8. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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  9. alor

    alor Well-Known Member Silver Stacker

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    the Afghan did not have the chance to built their dinar/dirham coins, USD 9B got frozen by USA for being a terrorist lol
     
  10. TreasureHunter

    TreasureHunter Well-Known Member

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  11. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Palantir - Gold
     
  12. mmm....shiney!

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

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    ^
    The guys at Nanalyse are somewhat bemused by Palantir. A company which is known for its expertise in being able to predict black swan events yet hedge against risk by buying gold, being on record as going to accept BTC as payment in the future while at the same time exposed to the tune of some $340 million in SPACS?

    Needless to say, Palantir is not on their list of stocks to own.

    https://www.nanalyze.com/2021/08/stocks-bitcoin-balance-sheets/
     
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  13. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    Looking strong after breaking through 1800 USD again!
    Let's see what happens overnight.
     
  14. TreasureHunter

    TreasureHunter Well-Known Member

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    I think it's going down. I expect 1,700 $ in autumn. That will come soon.
     
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  15. PMCollector

    PMCollector Well-Known Member

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    Not sure much can be taken from this, although interesting that these CB's (left) thought that buying at current levels (USD1750-1800) was fine on a long time basis.


    [​IMG]
     
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  16. mmm....shiney!

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

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    ^ hedging their foreign reserves (mostly USD).
     
  17. bubblebobble2

    bubblebobble2 Administrator Staff Member Silver Stacker

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    ready for a spike everyone….
     
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  18. madaw1

    madaw1 Well-Known Member

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    ore prices will go down(China influence) so AUD down-gold up
    buy, at this prices instead keeping cash in Banks....
     
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  19. alor

    alor Well-Known Member Silver Stacker

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    do oil, iron ore! LOL
    we saw $0 for a barrel of oil, now 60+
    there is correction to be had for iron ore, may be 60% drop back to the price few years ago, never know...refer to oil
    gold is cheap, it is distressing to see, but that is the whole point if you are the forever buyer, not having it enough yet
     
  20. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Latest Kitco YouTube news - senior analyst Jim Wyckoff says.
    Gold bottom is about 1750 USD
    Resistance at 1815 USD
    Probably sideways and higher towards the end of the year.

    Note the spike in the oil price, gold following and silver should follow gold.
     

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