TreasureHunter
Well-Known Member
Another scenario that is circulating on the web:
Gold horror scenario: zig-zag drop to 680 $!
- Thread starter TreasureHunter
- Start date
gimmiethegold
New Member
I have 2 ouces in gold at the moment and I hope gold does drop to that price as I would buy as much as I could because I believe it's value as jewellery alone has a natural value around 1500 an ounce. Gold isn't sexy at 500 an ounce. I think consumers are willing to pay 1500 an ounce including markup which in Australia is maybe 150g for 18ct? 110 for 9ct?
worldbubble
Active Member
good luck finding gold at $680 )))
TreasureHunter
Well-Known Member
The cheaper price will make it more attractive. Gold couldn't hold out for long under 1,000 $.
I honestly believe that any dip below 1,200 $ should be a very rare chance and a possible dip below 1,000 $ could signal a bottom. It couldn't hold out that low for too long - due to production costs.
I honestly believe that any dip below 1,200 $ should be a very rare chance and a possible dip below 1,000 $ could signal a bottom. It couldn't hold out that low for too long - due to production costs.
TreasureHunter
Well-Known Member
worldbubble said:
Good point there... even finding silver now is pretty hard, I hear :/
gimmiethegold
New Member
trew said:
Lol the one thing I've learn on here is to avoid discussions around peoples buying positions etc. Because my gold is in jewelry not 1 oz gold bars and I got it at spot and it's a custom piece. The part where you say most likely keep falling makes me laugh like people on here are so quick to put forward a position when it is driven by so many variables that literally none of us on this forum could alter. Not that I'm one of the "EVERYTHING IS A CONSPIRACY" like some people on this forum. I think buying silver/gold is a straight up gamble and that's how I play it. All the hype around spot price on here is useless unless you need money to fix your car or are living week to week and need to sell your stack to get by.
mmissinglink
Active Member
Bring on $680 gold....I would lavish this! Since silver follows gold like a hapless shadow, what would silver's spot drop to if gold sunk to $680? Like $14 or lower?
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tbh if gold went to $5000 an ounce I would be as happy as a dog licking a nut even if it means high inflation. No more backing up the truck cause you can't afford the fuel
Silver Bullion Boy
New Member
Be realistic, if gold drops to $680 who is going to sell at this price. It would be good to hear from members that are also dealers on this.
TreasureHunter
Well-Known Member
I guess there will be places to buy some gold, even if it drops below 700 $. But it should drop rather slowly, so that the dealers can buy new gold for lower price.
Below production costs and with dealers having unsold bullion that they bought at higher price means extremely high premiums.
Even so, if 680-800 $ gold occurs, then even if dealers will sell at 1,000 $, it will be a much better buy than today.
Below production costs and with dealers having unsold bullion that they bought at higher price means extremely high premiums.
Even so, if 680-800 $ gold occurs, then even if dealers will sell at 1,000 $, it will be a much better buy than today.
Silver Bullion Boy said:
Good point...however there's been plenty of schmucks selling their jewellery for that price to "Goldbonkers" kiosks in shopping centres even when it was $1800/oz.
I'll put in my 2 cents worth. I think we've seen the bottom. I just can't see any chance of it getting near $680 an oz.
Then again, I have no idea.
Then again, I have no idea.
If you wanted silver close to spot at these projected low prices you would have no choice but to buy allocated or in allocated from australian bullion company for example. Price plunges are the safest time to buy from the bullion companies because regardless of movement, they make money on the exchange and in the worst scenario you will simply get your money back if their hedge fails to materialise. Ie they do not get the silver to supply to you.
Yeti Hunter
Member
Horror scenario? That sounds like dream scenario. Back the truck up! I'm sure there would be some weak hands throwing their metal into the street in disgust. If not, unallocated.
Yeti Hunter
Member
PS, where did you see this, TH? I would be interested to see the rationale behind it.
The theory's fundamentally flawed because all the phyzz would be exhausted in pretty short order (I'm talking just a few months) and not one single commercial producer would be able to justify production, squeezing what global supply was left further, causing a massive rebound back up to $1250, $1500 & beyond...