Will Gold drop below 1300?

JulieW said:
$700 and there will be exactly 9 ounces left in the west!
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why? if the USD was stronger and gold at $700 could not the "West" buy as much gold as it wanted?
 
JulieW said:
$700 and there will be exactly 9 ounces left in the west!
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Yes Julie but some people don't understand. Predicting a fall in gold to $700 is crazy and may panic people out of their positions. Now is the time to buy not sell. Yes we may see lower values but $700 or even $1000 is highly unlikely and $1500 by years end is far more probable.
The Dow is looking for a blow off top and markets may get quite volatile - it is the time to sit on the sidelines and accumulate small bites of metal.
 
Panic people out of their positions you say?
There seem to be quite a few retail investors who, seeing gold hit $1900 believed the $5000 hype and piled in hoping for a quick buck. Typically, and as so often happens in markets - that was the top.

I think a few are panicking - especially those who put in more money than they had

There was a video on youtube of someone who had accumulated (pretty quickly) 20 krugs. He then posted a video about selling 1kg of silver "to pay bills". I've seen a few people on here post that they've sold up at a loss "to pay bills".

Not judging - just saying
 
I am not talking to people who have bought more PM than they can afford. I am talking to people who have invested spare cash into PM and are now listening to the comments that gold is going down to $700. The implication is to sell out and keep cash or invest in stocks. I think those are both mistakes. The stock market is topping and a major correction is due. Cash is great short term but longer than that you will lose. Those holding AU$ have just lost 20%- I did not see a mass of posts telling us to sell the AU$, which is going down to 80c ?
 
People are generally domesticly orientated. They short their home currency only when they buy forex for hols and they invest in their home stock market.

Personally, if the stock market forms a lower high soon and turns I'll stick a cheeky spreadbet on

The few coins I have I just enjoy having, holding them Fagin like in my hands and cackling to myself in the candlelight. I ain't selling!
 
mmissinglink said:
Perhaps the more pertinent question is: will gold drop below $1100?



.
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Or will capital controls and financial repression force gold below $1100?

If not, and it goes to $900 then I'm getting one of these:

6824_beefeater-24-carat-gold-plated-barbecue-1.jpg


If not, and it goes back to the Gordon Brown price, I'm getting these as well:

6824_toilet-gold-plated.jpg
 
Although the price is quite low right now but you never know there may exist a huge fluctuation in the market and may result into a huge increase in the price.
 
TheEnd said:
Well after the last few weeks hovering around 1340 I thought we might see 1500 eventually but its def not looking like it now....Maybe Jim Rogers was right?
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Wicked how silver is above 22 USD, I'm shocked.
I was expecting the 19-21 $ sideways "dance" to continue for a long long time... at least until the September Fed news.

Now I'm reading more and more bullish news and predictions with regard to gold and silver.
 
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