Will Gold break the all time high?

Discussion in 'Gold' started by SilverDJ, Jun 22, 2020.

  1. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Roger Hirst from RealVision did a really good video recently about how he sees the current surge in equities as much more of a classical “bubble build up” than how things were looking pre Covid. I’ll attach below



    Regarding potential gold price (and I’m no expert, or financial planner) I wouldn’t be surprised to see a more moderate climb to around $1875, then pullback a bit, then shoot for $2000. Much like Australia’s job seeker/job keeper stimulus, Americas unemployment benefits boost is due to expire next month. Wait a few weeks for the negative data to come back out once that stimulus is removed, and that’s a good foundation for the gold price to head towards that elusive $2k Mark.
     
  2. President Trump

    President Trump Active Member Silver Stacker

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    OK but why? It would make sense there is a short term correction I could agree with that. But the factors that push gold up; QE, low interest rates and uncertainty will not disappear in the next 6 months ... so longer term it is going up. I agree in the next 30 days there could be a correction its been a big rise without one, but surely the move is up not down.

    [The trend is your friend until it ends]
     
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  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Yes, I think there's a more than 50% chance of a short term pull back like what happened in March when gold fell along with stocks. But the AUD may fall along with gold so it may not make much of a difference if you're holding AUD all the way.

    Gold is still holding for the time being because people think stocks will sustain. If people start to think March will happen again, many will be selling their gold hedges to prepare the cash to buy the dip. I mean, who doesn't want to make 60%-100% in 3 months? You can't do that with gold or silver.

    Of course, history may not repeat so it's all speculation. I won't be selling any gold but I'm holding back my buys - last investment buy was mid-Feb.
     
    Last edited: Jun 25, 2020
  4. SilverDJ

    SilverDJ Well-Known Member

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    I haven't bought metal for many months now, been sitting in cash waiting patiently for stock plays. Already have enough metal built up.
    Of course if metal plummets I might be tempted to buy some more, but for now, cash is the smart play.
     
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  5. madaw1

    madaw1 Well-Known Member

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    So, do you think AUD will jump ?...
     
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  6. KangaBanga

    KangaBanga Member

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    AUD depends on the RBA interest rate policy and also IRON ORE PRICES. thats why they say AUD is a commodity based currency like Canadian dollar. Iron ore is already all time highs due to supply problems from Brazilian mines. So once the COVID situation has gone through brazil and they reopen mining again, Iron ore will plummet back to sub $60 from $100+ now and AUD likely 50-60c to USD. Thats if USD doesnt crash as well. Lots of big mega corporation bankruptcy starting over there, i really dunno how long the FED can hold things up for...
     
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  7. Slimey

    Slimey Well-Known Member

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    Sorry to bust your bubble but it is nowhere near an all time high. About $6000 - $8000 is what it needs to climb to.
    Average weekly wage in 1980 was $250 and now it is about $1250.
    Imagine if you had a job in 1980 knowing that your next pay rise would be in about 41 years.
     
  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I don't know, probably if copper/iron prices continues going up?

    Too many choices to store wealth other than gold today. There's property, faang, cryptos and palladium.
     
  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    First time seeing no kilobars sold on BS in the last 7 days. They were listed as selling a dozen a day in late Jan and early Feb. Regardless of the reliability of the figures, the trend has changed.
     
    Last edited: Jun 26, 2020
  10. alor

    alor Well-Known Member Silver Stacker

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    will multiple x of human lab-ours
    with slaves wage rates
    it is not realistic to compared with the past
    mobile phone today cost $300 it would have cost $300,000 in the past, and no product was available then
     
  11. alor

    alor Well-Known Member Silver Stacker

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    I looked at the sell back prices, the premiums have not been reduced
    almost all items are back in stocks now

    Palladium bear has not stop yet, so waiting game for a turn

    major miners ETFs could be more convenient for silver
     
  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Miners still too expensive, Pan american silver, I bought at $13.20 in March, now is $28.53. So either miners are too expensive or metals are too cheap. I'm guessing it's miners are too expensive.

    Pd all sold out from what I've seen. Pt stocks are very low, kilobars all sold out, 100g bars sold out at most dealers and on top of that, ridiculous premium for whatever is still available.
     
    Last edited: Jun 27, 2020
  13. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    It's been past that for some time here for physical gold.
    I feel sorry for anyone missing the boat right now.
    I have a little in stocks but I dont know why haha. Gold is where it's at.
     
  14. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Legging it up..

    Screen Shot 2020-06-30 at 5.16.55 pm.png
     
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Notice how gold silver and the dow all rose today.
     
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  16. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Perhaps silver is the ticket.
    Silver has the uncanny ability to do better than gold by %.
    Problem is, storing the stuff. :eek:
     
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  17. madaw1

    madaw1 Well-Known Member

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    Will Gold break the all time high?
    The question is when? not if...
     
  18. alor

    alor Well-Known Member Silver Stacker

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    gold will re-test its own high
    so buying now is not buying at the peak, always remember there were people who bought at that time high
     
  19. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    I'm waiting for gold to colonise the 1788 level.
     
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  20. President Trump

    President Trump Active Member Silver Stacker

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    .

    I can understand why. The last time we had a weekly close above 1787 was Nov 2011.
    A weekly close at or above 1788 would be a colonisation and quite bullish I would say.
    Also unsurprising given what the chart looks like.
     

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