Bad omen - Gold price could smash records at $2,000,

TreasureHunter said:
You trust Citi?

Well... countless "experts" said that in 2011, 2012, 2013 too! And it never happened.

Regardless, gold has taken a much bigger leap than ever before. It might as well be the first step of the next bull market.

Focus on the next dip if you want to buy in. I think it will take a dive in October. And another one in December's second half. Anyone missing that buying opportunity will cry next year. I don't know about 2,000 $, but next year we will see values above 1,600-1,700 $, I think.
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Not sure about the October plunge, but I’m having similar doubts that gold will go pass $2000 next year because the US economy remains strong.

Asian economies may turn to selling gold if things get worst. You can’t eat gold, when times turn tough, first thing to be sold is gold jewellery, not your house or car. This is the truth. ;)

If you look at the Asian financial crisis, gold in USD actually didn’t rise and fell instead between 1997 and 1998. The data is all there for everyone to see.

For those who hope for chaos or new war in hope that gold will rise, I don’t see that happening as long as Trump is in charge. Trump’s a businessman, not a butcher. Sorry. :D

By the way, did you see the suddenly plunge in bitcoin? If it persists, might be a leading indicator for gold??
 
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mmm....shiney! said:
What's your rationale behind a dip in October and another in the 2nd half of December?
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1. Seasonality. It usually dips.
2. Plus: we've already had an uproar, so I expect a correction, which should
3. I know a bit of technical analysis, and I can tell it's coming (I can't tell how big it will be).

But it something terrible happens (EU QE, major bankruptcy, Fed adopts an impactful decision, Trump decides to trump Iran...), then it goes to the Moon
 
sgbuyer said:
Not sure about the October plunge, but I’m having similar doubts that gold will go pass $2000 next year because the US economy remains strong.

Asian economies may turn to selling gold if things get worst. You can’t eat gold, when times turn tough, first thing to be sold is gold jewellery, not your house or car. This is the truth. ;)

If you look at the Asian financial crisis, gold in USD actually didn’t rise and fell instead between 1997 and 1998. The data is all there for everyone to see.

For those who hope for chaos or new war in hope that gold will rise, I don’t see that happening as long as Trump is in charge. Trump’s a businessman, not a butcher. Sorry. :D

By the way, did you see the suddenly plunge in bitcoin? If it persists, might be a leading indicator for gold??
Click to expand...

Indeed, Asians turn to gold and the US economy is strong, while the Euro is shaking (again).

I'm of the thought that the EU is more fragile and the Euro is a worse currency than the dollar (with a worse reputation), thus, Europeans tend to turn to the Dollar when things get too "shaky". The dollar's strength is rising.

What disappointing about Gold is what happened in Venezuela (I don't know if you saw my much earlier posts, about 1-2 years ago): Gold DID NOT follow the pace of inflation in Venezuela. Although it did become more expensive, the hyperinflation was far greater, so it didn't prove to be a good hedge.

Armstrong too says that Gold is not a hedge against inflation. I somewhat disagree, but indeed, many times it doesn't work :/

Worse: in a Venezuela scenario it's hard to imagine who can buy your gold. A bank? Someone who gives you a bucket load of toilet paper currency?

They might as well give you a roll of currency, since it's worth at most the paper it's printed on... If I were Maduro, I'd make rolls of currency. :D Practical!

Thank God Trump is a businessman! :D

Yeah, Gold and BTC tend to move in opposite direction. Odd.

Some believe the Ruskies and Chinese are using Bitcoin to swap Dollars into their own currencies. And/or to move what they have in the US to their countries.

The world we're living in sure seems like the Twilight Zone!
 
I read about gold being sold at a huge discount in Venezuela. Perhaps livestock is a better hedge against inflation, especially livestock that can produce eggs and reproduce itself. But if it comes to that my options will be limited as we don’t have much choices for farming here in Singapore. It appears that I can only rely on pms.
 
I just read that there is perhaps 190000 tonnes of above ground gold. That would value the total at around 9 trillion USD very very approximately.
Australian super is around total 3 trillion AUD. Or 2 trillion USD. So 10% would equate to about 4166 tonnes of gold. Based on current contributors we would have to buy another 237.5 tonnes per year (at current gold prices and contribution levels) to maintain our 10% target.
Substantial and definitely market affecting but not dominating I don’t think.
 
sgbuyer said:
I read about gold being sold at a huge discount in Venezuela. Perhaps livestock is a better hedge against inflation, especially livestock that can produce eggs and reproduce itself. But if it comes to that my options will be limited as we don’t have much choices for farming here in Singapore. It appears that I can only rely on pms.
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Livestock is a hedge against FAMINE.

So is canned food. Sardine. Sprats. Mackerel.

Forget about finding a "perfect" hedge against inflation. Put together a diversified portfolio: PM's, multiple fiat currencies (CHF, EUR, USD, your local currency), but you can even collect vintage objects, buy real estate (small apartments better, even if you're rich, then buy more cheap real properties instead of one luxury home, which no-one can buy in a crisis anyway).

Stack food, tools, medicine, water, batteries,... but try not to go mad.

I don't believe crypto can save you. It's a speculative, volatile, but ingenious invention. I never had any Bitcoin.
 
Sardines!

Sent me to Google.

FDA says safe for 5 years. Anecdotal from Quora says he has eaten canned sardines after 9 years and sill taste OK.
 
TreasureHunter said:
You trust Citi?

Well... countless "experts" said that in 2011, 2012, 2013 too! And it never happened.

Regardless, gold has taken a much bigger leap than ever before. It might as well be the first step of the next bull market.

Focus on the next dip if you want to buy in. I think it will take a dive in October. And another one in December's second half. Anyone missing that buying opportunity will cry next year. I don't know about 2,000 $, but next year we will see values above 1,600-1,700 $, I think.
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Wow, looks like you're spot on.
 
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