Author Topic: Gold Just Broke $1300USD in Asian Trading  (Read 10272 times)

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Offline silverpv

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #30 on: June 26, 2016, 01:33:05 AM »
what  you want to see is folks throwing in the towel.....  a big 5 to 10 % down day   hedge funds are under-invested and seriously under performing  with loads of cash on the sidelines, right now the risk on trade is gold ...which has room to run ..but you get a 1000 pt down Dow day and watch these hedge funds pile in and then off to the races we go they can make the market turn... I took 2 or 3 % of my cash on the side lines and just threw it in at 3:55 EST on friday  ,just in case.. too many times in the last 24 months ,you got these sharp 1 day drops and the market just moved higher without correcting at all... keep  in mind where else can the world put there money right now???  gold or US equities that is about it ..shorting the US market in the last 36 month,s has become very painful for those thinking the depression, recession and big 20% correction  etc is around the corner, it is very difficult to fight the tape.

I agree with this.. We would really need another 10% down, but I am concerned that these businesses just don't have the numbers, other than amazon to support continued growth.  Retailers are mainly feeling the pinch but the economy itself is chugging along. I think a 5-10% would be a start. I have heard the same that the market can continue to head higher and agree that it could possibly increase. I'll probably just wait a little until it hits a 10% rise. If it doesn't the dollar is still getting stronger.

Offline PandaBear

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #31 on: June 28, 2016, 07:01:50 AM »
FYI: "Dao under attack?" https://m.reddit.com/r/ethereum/comments/4oi2ta/i_think_thedao_is_getting_drained_right_now/

Read they are doing a "softfork" and blacklisting the hackers wallet invalid.  Counter party is another crypto currency which is smart contract based like ETH and the DAO which is actually voting rights.  I wouldn't be surprised to see ETH hitting 200/USD. 

Offline Pandora

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #32 on: June 29, 2016, 06:38:52 PM »
Good buying opportunity in stocks by tuesday. Markets will recover once realize that brexit will take 2 years minimum to finalize and all margin calls are done. Gold will preserve the gains as usd comes down and silver will join gold rally in couple of weeks.

Good buying opportunity in stocks by tuesday - Check
Markets will recover once realize that brexit will take 2 years minimum to finalize and all margin calls are done - Check
Gold will preserve the gains as usd comes down - Check
silver will join gold rally in couple of weeks - Check

Gold is correcting to may be 1314/1304 range.


Offline Mirkkanen

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #33 on: June 29, 2016, 06:42:02 PM »
And then what, oh wise one . . . ?

:)

Offline Grip

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #34 on: June 29, 2016, 07:42:38 PM »
Then it goes up, or down, or sideways until it goes up, or down, or sideways. Just a guess...

Offline Grip

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #35 on: June 29, 2016, 08:13:21 PM »
Actually, we are in a new PM bull market so buy weakness. Surprises will be to the upside. Expect extreme volatility going forward. US equities indices will make a marginal new high before tanking. Bond markets will tank within the next 12 months as the biggest bubble in the history of the world implodes. Just a guess... 

Offline pandamonium

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #36 on: June 29, 2016, 10:07:42 PM »
Agreed but I doubt it will take that long, 12 months.     The surprise of PM spiking up in price will happen.   I have read many articles for about 10 yrs, PM will see a parabolic rise in price and it will not drop down to today's prices in our lifetime......   That is why i was the first to post here a few years ago that 1 oz silver bullion will be $1,000......we are almost there.....

Offline Mirkkanen

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #37 on: June 30, 2016, 01:49:41 AM »
Pandamonium, if you think that 1 oz of Ag is gonna be worth $1000, then shouldn't you be stacking ounces instead of messing with pandas or mcc of any kind? I assume you already have a core position of silver bullion and you are trying to diversify your holdings by buying mcc.

In any case, if silver ever did touch $100/oz, that rise would coincide with a precipitous drop in US dollar purchasing power. We may hardly be better off than we are today, possibly worse off if the world goes to sh*t.

Offline silverpv

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #38 on: June 30, 2016, 01:54:24 AM »
In any case, if silver ever did touch $100/oz, that rise would coincide with a precipitous drop in US dollar purchasing power. We may hardly be better off than we are today, possibly worse off if the world goes to sh*t.

I agree.. If silver is $100/oz the world sucks. What we have right now is fine. Strong dollar and growing strength in PM's.

Offline Pandora

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #39 on: June 30, 2016, 02:00:25 AM »
And then what, oh wise one . . . ?

:)

The wise one might have bought lotto as well :)

I think silver and platinum will soon catch up with gold and then entire metals will break out. A major multi year bull market for metals. Just my thinking. May or may not come to fruit.

Offline Herrmo93

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #40 on: June 30, 2016, 06:47:59 AM »
yes , bearish stock market could result in bullish metal market. But I don't think that gold price will skyrocket.
i wonder how this will reflect on the price of gold panda coins.... :thumbup:

Offline Wafdawg

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #41 on: June 30, 2016, 07:50:00 AM »
yes , bearish stock market could result in bullish metal market. But I don't think that gold price will skyrocket.
i wonder how this will reflect on the price of gold panda coins.... :thumbup:

Gold pandas have made a significant move up already. It's bullions turn. Spot price of 1300 or 1400 will not affect the pandas price except to say that the numismatic premium will be somewhat reduced.

Offline Wafdawg

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #42 on: June 30, 2016, 07:52:18 AM »
I agree.. If silver is $100/oz the world sucks. What we have right now is fine. Strong dollar and growing strength in PM's.

I don't necessarily agree with this assessment. Dollar purchasing power is going down irrespective of silver price. To ensure an orderly revaluation, gold and silver can be revalued upwards while holding the ratios of everything else constant against each other. In other words, allow gold and silver to soak up all the inflation so everything else stays the same and affordable.

Offline pandamonium

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #43 on: June 30, 2016, 08:20:29 AM »
Pandamonium, if you think that 1 oz of Ag is gonna be worth $1000, then shouldn't you be stacking ounces instead of messing with pandas or mcc of any kind? I assume you already have a core position of silver bullion and you are trying to diversify your holdings by buying mcc.

In any case, if silver ever did touch $100/oz, that rise would coincide with a precipitous drop in US dollar purchasing power. We may hardly be better off than we are today, possibly worse off if the world goes to sh*t.




It is all simple math.   There was a book written a few years ago mentioned on TV named something like The Curious Case for $900 plus? Silver.     Many articles have done the math and say silver will rise to $1,000 oz and some say $10,000 silver today.    My question is this.   We all know China owns the gold and has tremendous wealth so the Yuan can be tied to gold in the future.   The US and West is bankrupt.    This means the best of Chinese money will be gold/silver minted in China.   When 1 oz of silver bullion reaches $1,000 what will a 2003 silver panda be worth?   $5,000?    $10,000?    As i posted in the past when the US dollar goes down, rare US coins will drop in value.   Yuan up, rare Chinese coins/medals up.       Yes the USD purchasing power will drop big time but that is already in the cards as the IMF has stated a revaluation of world currencies.    The world financial powers that be have this mapped out a long time ago.    The West has huge debt, derivatives so we are upside down because we sold our manufacturing, etc to the world, mostly China so they are rich and we are poor.    Many of my friends that are collectors understand this now and they are getting word out to their family/friends.    For us in the West we will hopefully survive by owning bullion but to have wealth we must own MCC.    Our world will become very turbulent as Peter Shiff and so many others have warned us......I do not own much bullion, some junk silver is about it......... Online opinions say this....100 million people is about 1/3 of the USA population or 1/15th of China's population.   100 million Chinese will flood into MCC in the future.   We all know Chinese are buying gold/silver like crazy because they have a clue.   I emailed many collectors/dealers about 100 million Chinese that will flood into MCC and not one argued w/ that opinion.    The dealers in Asia tell me the rich Chinese will soon outbid the World for their MCC just wait and see.   I agree.........Again the future is this;  the best of money will be rare coins/medals and MCC minted in China.....just my opinion and i cannot find any evidence that opposes it.....

Offline Mak007

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Re: Gold Just Broke $1300USD in Asian Trading
« Reply #44 on: June 30, 2016, 10:56:24 AM »
I believe we are looking at a massive dollars rally, but will be accompanied with a rally in stocks and gold because it is capital fleeing seeking shelter in the USA. This is not a battle between the Dow and gold as always portrayed domestically. When governments collapse, all tangible assets rise in value, not just gold