This was another gold crash...

[TreasureHunter]

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.

 

[leon1998]

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.

 

[TreasureHunter]

^
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.

 

[leon1998]

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.

 

[-j-p-shmorgan]

^
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.

Decades? No. lol

 

[BoliverT.]

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.

 

[Peter]

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?

 

[errol43]

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

 

[-j-p-shmorgan]

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?

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

 

[Peter]

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?

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

Good luck.

 

[-j-p-shmorgan]

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?

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

Good luck.

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:

 

[The Crow]

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

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.

 

[andrewlee10]

hope it will not below USD900 in short term

 

[-j-p-shmorgan]

hope it will not below USD900 in short term

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

 

[Porcello]

only a couple of guys have predicted 900$ or less lows for 2015.

http://www.lbma.org.uk/assets/Forecast 2015_FINAL LINKED.pdf

the same guys have predicted low silver as well, of course..... (one of them even predicted GSR = 95 !)


btw, only one guy was right on the sub-1000$ Pt low

 

[TreasureHunter]

^
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

 

[TreasureHunter]

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

 

[Peter]

Well I think we could see above $1600aud gold this year

 

[silver kook]

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

 

[SpacePete]

^
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.

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.