This was another gold crash...

Discussion in 'Gold' started by TreasureHunter, Jul 22, 2015.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    Gold just crashed. It was another major sell-off, some news sources state.

    If anyone could make a major sell-off now, I don't see why they wouldn't do it later - like after gold sinks under 1,000 $.

    The markets are strongly discouraged now. If it falls below 1,000 $, then I think more will feel discouraged to buy. It will go lower.

    I did imagine gold sinking below 1,000 $, but now I think it can fall a LOT below 1,000 $. Like 600-700 $.

    This is terrible news to those who invested heavily during these years to accumulate emergency savings.
     
  2. leon1998

    leon1998 Member

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    From a psychological point of view, gold spot price could be low for an extended amount of time until retailers completely lose interest. It's no different from any other security market; individual investors vs market makers. And more often than not, market makers win. :p
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    ^
    And, it could take DECADES for gold to recover.

    Right now, it would be better for anyone who wants to preserve their wealth to buy/own land.
     
  4. leon1998

    leon1998 Member

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    My rant posted on 2/22/2015 --- LONG LIVE THE KING DOLLAR

    Stop stacking gold and silver and Go find a job!

    Meanwhile let's short GLD and SLV and all commodity, for eternity!




    Alright, done with my Sunday rant .........peace. :p
     
  5. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Decades? No. lol
     
  6. BoliverT.

    BoliverT. New Member

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    If anyone knows Big Stack McGee personally you shouldn't let him near a building that has more than one floor for a few weeks.
     
  7. Peter

    Peter Well-Known Member

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    Gold is cheap now so it's a great time to buy.
    Economys around the world are in turmoil.
    A collapse is possible.
    It's foolish not to take some insurance.

    You lose your house insurance every year if your house doesn't burn down.
    Is the money wasted?
     
  8. errol43

    errol43 New Member Silver Stacker

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    End of month settlement day for gold traders? Make some $$$$..Imo it will go back above $1500 AUD in the next week or two.

    Regards Errol43
     
  9. -j-p-shmorgan

    -j-p-shmorgan New Member

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    I just sold mine. Will be entering back in at sub $1000 USD tyvm. :)
     
  10. Peter

    Peter Well-Known Member

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    Good luck.
     
  11. -j-p-shmorgan

    -j-p-shmorgan New Member

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    May or may not be the right move.
    I've got plenty of silver to make up for the transition.
    When people are buying, I'm selling.
    When people are selling, I'm buying.
    :lol:
     
  12. The Crow

    The Crow Member Silver Stacker

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    If this means I can build a collection of sovereigns, bring it on.

    P.S. apologies to those whose retirement fund will take a hit.
     
  13. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    hope it will not below USD900 in short term
     
  14. -j-p-shmorgan

    -j-p-shmorgan New Member

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    What's short term to you? I'm guessing it gets close to $9hundo
     
  15. Porcello

    Porcello New Member

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  16. TreasureHunter

    TreasureHunter Well-Known Member

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    ^
    If that car is gold-plated, many would be tempted to "polish" it with a little piece of sandpaper - just a little bit. And put that fallen dust away :)
     
  17. TreasureHunter

    TreasureHunter Well-Known Member

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    Well, I think we could see sub-1,000 $ gold this year.
     
  18. Peter

    Peter Well-Known Member

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    Well I think we could see above $1600aud gold this year
     
  19. silver kook

    silver kook Active Member

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    All this bitching and moaning and yet gold is still around $1500 AUD. Do we really need a repeat of this thread everyday?
     
  20. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Land is good because, and let's face it, the government is criminal and will destroy the rest of the economy to maintain the value of their property portfolios and the portfolios of the public who vote for them. But then, gold is good to have in case the f*ck it all up... assuming the government doesn't find a way to steal the wealth of those with precious metals.
     

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