Golden Highs 2020

wrcmad said:
The above quote is Exhibit A, exactly the narrative I was referring to, and also the mask that veils the furphy.
The notion of an "insurance policy" that brings comfort and security is the fall-back position when metal prices head south. The use of this position ensures the stacker can never be wrong (essential to their psychological well-being).
If prices go down, they are said to be comfortable in their security.
If prices go up, the profits that follow are vindication that they were not wrong.


True.
The conundrum for the stacker, however, is that this net worth benchmark unit of measurement invariably reverts to fiat $ - inline and in reference to the spot price.
Ironically, this is the very unit of measurement they themselves veto as being worthless, yet have no trouble falling back to it's use when conveniently highlighting their "correctness".
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I agree with you on these points, but to limiting degrees. PMs are like an algorithm with IF, AND or BUT statements.
If wealth preservation is a feature of PM's, then you can bet that it will be a reason for people to enter the space. As I said, I agree many are in here just for profits and see the point your making entirely. However, I don't agree that because the profit feature exists you can just dismiss the protection and security aspect - It serves multiples functions. To suggest people don't value the protection by calling it a furphy is grossly overstated IMO.

With all that said, I get that you are just generalising the majority. However, PMs offer a basket of value added features that I think add to the overall appeal of entering this space. If it were just profit potential, I don't think we'd see a fraction of Bullion demand or private holders of PM's. I doubt Central bank's and governments would have an interest in holding Gold either. You imply that there isn't anything more to it than profits, like that's the only reason people buy, hold and engage, converse and speculate over the price.
 
so what happens when we go cashless? they know when, what and how much metals you buy. how do you liquidate your stack? they'll know about that too and probably tax the shit out of it. then of course they can just not allow purchases of metals. when it's cashless they can monitor and stop any transactions.
 
JohnnyBravo300 said:
It's not a correctness thing at all.

When prices go down things are good and work is busy. It's time to buy gold and lots of supply and good deals to be had when no one wants it.

When things are bad prices go up and the little acorns you stacked and packed away when times were good do their thing and hold their value without worry.

Theres really nothing to prove with it.
I wouldnt trade my stack for worthless fiat at this time or any other and it's not about the numbers for me. Just the safety.
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OMG. For a second there I thought you were taking the piss!
Then I quickly remembered which forum I was on.
That, good Sir, is a textbook example of the stacker psychology I was referring to. ;)
Thankyou for putting it out there in all it's glory. :)
 
Ag bullet said:
so what happens when we go cashless? they know when, what and how much metals you buy. how do you liquidate your stack? they'll know about that too and probably tax the shit out of it. then of course they can just not allow purchases of metals. when it's cashless they can monitor and stop any transactions.
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When we go cashless barter is your only option so build your stack now.
 
Ag bullet said:
so what happens when we go cashless? they know when, what and how much metals you buy. how do you liquidate your stack? they'll know about that too and probably tax the shit out of it. then of course they can just not allow purchases of metals. when it's cashless they can monitor and stop any transactions.
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I find it hard to see a cashless society until all regional populations get pushed into the cities, or we have the infrastructure to accommodate and facilitate the needs of regional areas to transact without interruption. Very few actually care about whether we go cashless. That's what you get when there's no focus on financial education within our society and culture. Very few understand the threats imposed on our privacy and freedoms. I'm hoping a cashless society is a distant outcome and intend to use cash for the majority of my transactions for as long as I have the privilege to do so.
 
Thinking about making my first big boy purchase of gold, with a 1oz gold maple leaf.

I'm not sure where gold is going, but I have a gut feeling it won't stay still. I'm thinking $2200aud or $3500aud by the end of the year. Can't put my finger on it
 
SouthCoastSilver said:
I'm not sure where gold is going, but I have a gut feeling it won't stay still. I'm thinking $2200aud or $3500aud by the end of the year. Can't put my finger on it
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I've got more feeling for more than less--$3500 AUD in the nearer future-,so BUY<BUY>BUY now...-
 
OneDay said:
Expecting a pop on Monday?
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I am sort of expecting that the cartel might try one of their paper dumps on Monday during the light Australian/Asian trade,
before London opens up for business.

They have done that so many times in the past with lots of success.
If they dont at least attempt it at this price will signal that things are getting pretty tight for the London gold pool.

Interesting week coming up that's for sure.
 
I'm just excited because we're so close to the all time highs. I'm expecting a pullback but she might just bust through the $1920 mark. I'd like to see it break through, pull back then test and hold the $1920 level. I think that could be the "buy your tickets to the gravy train" moment.

I wonder what the commercials are doing right now...?
 
Not far off $1920 now :D

It’ll be interesting to what happens when it breaks through this price point!
 
hardyakkagold said:
I am sort of expecting that the cartel might try one of their paper dumps on Monday during the light Australian/Asian trade,
before London opens up for business.

They have done that so many times in the past with lots of success.
If they dont at least attempt it at this price will signal that things are getting pretty tight for the London gold pool.

Interesting week coming up that's for sure.
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There is no group of people that try to hold the price of gold down so they can buy it more cheaply in the future. Such a groups that is concerned about higher gold prices would be far more likely to hedge higher prices than to sell Gold... and the way a hedge works is that your hedge provider goes out and buys gold now so that they can, without risk, payout on the hedge in the future. The act of hedging pushes prices up. So if prices fall who is causing it? Its the people who do not believe prices are going higher, the collective memory of the crowd that was burned at this price before. They don't think gold is going to breach all time highs (or not by much), they don't understand the real reasons gold is rising and they will sell at these prices without a hedge. There are plenty of people on this site that do not believe in Gold at this price. There is also plenty of institutional skepticism. I am happy they exist. They will be the ones that have to cover their short positions, pushing Gold higher.

Edit :Typo
 
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