Need advice: Buy gold now or over time?

Discussion in 'Wealth Creation & Management' started by SuprmeLeadr, Oct 22, 2019.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    If I were you, I would wait a little. Would try to pick the bottom now, as gold corrects. I think 1,700 USD could be in the area where the next bottom could be.

    I expect gold to go down rather than up this year. 2021 will be the year of a major correction, as the economies are "recovering" and people are getting vaccinated. So, I would wait.

    Perhaps it would be better for you to wait a little, then buy over time, trying to aim at the dips.

    Silver is a bad buy above 20 USD, in my opinion. I expect it to go down to 17-18 USD. It will fall very fast, because it's so volatile.
     
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  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    You do realise that the OP wrote the post in oct 2019? :D
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    I didn't see the date, you are right. Gosh, so many old posts appear on top. At first I thought this was a new topic that I missed :D
     
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Gold was $1480 per oz when that post was created. :D

    Anyway, people say the crisis is over. I don't think so. The core reason for the crisis still exists. And it's not the virus. It is geopolitics. There's going to be more drama.
     
    Last edited: Jan 20, 2021
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  5. TreasureHunter

    TreasureHunter Well-Known Member

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    I agree. The core of the problem is pretty much alive.

    We are experiencing and "economic slump". Pretty much a pause due to the lockdowns. And a redistribution of revenue from some sectors to others.

    And what we are going to experience now will look like an economic upheaval with tremendous GDP growth (just like previously when some quarters produced 30+% GDP growth). This is an illusion.

    If you have sum of 100 and take away -50, then you are left with 50 only.
    And, if next year you experience a "recovery" with +25 units growth, that will put you at 75 units. The illusion is that this is tremendous growth of +50%. But you're still under the initial 100.

    This is the king of "growth" that will temporarily push the dollar up and gold down. I expect cheaper gold and more expensive dollar. Probably until the summer of 2021. Or even longer.
    I think the gold correction might go down to the 1700's or all the way down to the 1400's.
     
  6. Tokyo

    Tokyo Active Member

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    More up side than down side for gold $2300 & silver $36 technically wants to test that zone . Fundamental is also bullish if see the supply side, you don’t think this unlimited printing doesn’t weaken the dollar over time? I see euro can go higher next, and higher currency doesn’t create gold/silver/copper
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    If I sell physical gold, I’ll be converting it to cash . What will I do with it? Put it the bank or buy more stocks? Stocks are risky too. Or maybe I would buy some miners?
     
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  8. Tokyo

    Tokyo Active Member

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    Historical data shows we dig deeper and use more energy to extract that same oz year over year, i believe not all miner would be a winner.
    Biggest challenge mining company face is environmental& permits from the government. We have more restrictions coming, loss trust towards mining company to follow regulations because most of them violate ( major impact to the water/nature/people&animal’s)
    Over 3500 tailings pond/dam was recorded in 2001 fast forward now we have over 18000 tailings (some been there for 50 plus years) this number it’s self shows slow down and more environmental impact to come .

    anyone can easily look this up more Mexico Brazil disaster to come out of 18000 . This is not factoring the Under ground old abandoned mines .... we have work to do
     
    Last edited: Jan 20, 2021
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  9. Tokyo

    Tokyo Active Member

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    talk to mining company promoters they claim specialist ... he been replying to my comment on Twitter until I mentioned this = nothing no reply.

    Bigger gdp more money tomorrow mental needs to get re looked at.
     
  10. TreasureHunter

    TreasureHunter Well-Known Member

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    Now all the cats are in the house (translated: many people on this thread) :D

    How nice. How cute :rolleyes:
     
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  11. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I'm good with getting cheaper gold but the dollar is getting decimated.
     
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    There has been a change in sentiment in the last 48 hours even before the surge yesterday. Ignore the dips, just HODL. Don’t worry, the gold can’t be banned so easily. And if they do, you can turn them into jewellery. :D
     
    Last edited: Jan 21, 2021
  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Has anyone seen this? Is this reliable?

    https://www.macrotrends.net/2485/gold-to-monetary-base-ratio

    I've seen seeing similar charts but I don't remember seeing gold being portrayed so cheap today? Yes, the chart I saw was from an author that had been advocating bitcoin which says gold is neither overvalued nor undervalued. I'm sure some of you here might have seen that.

    On the macrotrend gold price to monetary base ratio chart, it would appear that gold is cheaper today at $1800 as compared to 1970 when gold was $35, which is mind boggling. :D
     
    Last edited: Jan 22, 2021
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  14. TreasureHunter

    TreasureHunter Well-Known Member

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    Mind boggling indeed.

    Makes one think why they say "you will own nothing and be happy".
    All the alternative mentality manipulation cross social media against what they call "materialism". As if life would be enough with love and happines, "say goodbye to possessions".

    Mind boggling, because this could lead to a cataclysmic ultra-hyperinflation.
     
  15. alor

    alor Well-Known Member Silver Stacker

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    gold bot to rule then all
     
  16. Tokyo

    Tokyo Active Member

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    Also I like to look at income to gold affordability as well x6-7 minimum wage and probably x7-10 average salary. Sure makes it feel expensive, probably went up with money expansion = print more to weaken the currency feel like one way trip
    But copper x8-9/silver x9-12/gold x40-50
     
    Last edited: Jan 22, 2021
  17. STKR

    STKR Well-Known Member Silver Stacker

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    THE....GREAT.....RESET.
     
  18. TreasureHunter

    TreasureHunter Well-Known Member

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    I'm afraid the only keyboard they have is...

    [​IMG]
     
  19. alor

    alor Well-Known Member Silver Stacker

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  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Anyone following a "David Hunter". He has some interesting insight on gold and silver and the stock market.
     

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