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Gold is looking bad. I remember those saying to buy it at 1300 a few months or so ago here on site. I did buy some silver physical at 19.20 an oz but I sold 130 ozs just off top at 50 an oz. I buy it not for today but the long run. Gold is not really used much, about 95 or more percent of all the gold ever mined is still here today, but silver is used in a lot of production from silver solder for high pressure lines like air conditioning, to electronic manufacture. It costs about 18 bucks and oz to pull it out of the ground, so its a much better bet than gold. I limit my silver to a about 5k a small part of my portfolio. I am at about 230 oz and will add when and if it does a collapse. The silver I sold I bought for 4 an oz back in the 90s. I doubt it will get to that again. Anyone buying into the gold at this price?
This chart is a little out-of-date, but it shows the plunge gold has taken since peaking in 2011. Now gold is below the psychological 1200 threshold. Wasn't someone here saying a while back that gold's production cost break-even is $1200, so it can't go any lower? Gold can go as low as the markets decide...miners will just go out of business or scale back production. I wouldn't be looking at gold until it is $800, and even then I'd be more inclined to put my money elsewhere. Gold could be heading toward dead money status again like 1980-2000.
No, I think Gold will continue to go lower - because people are continuing to move their money from gold ===> stocks. Stocks will go higher as the economy continues to improve and company earnings go up ....
I'm not comfortable shorting anything. (It's not my forte.) But if it was, then I'd be shorting gold.
This chart is a little out-of-date, but it shows the plunge gold has taken since peaking in 2011. Now gold is below the psychological 1200 threshold. Wasn't someone here saying a while back that gold's production cost break-even is $1200, so it can't go any lower? Gold can go as low as the markets decide...miners will just go out of business or scale back production. I wouldn't be looking at gold until it is $800, and even then I'd be more inclined to put my money elsewhere. Gold could be heading toward dead money status again like 1980-2000.
I've been thinking that for several years; ever since gold & silver had those stupendous run-ups from 1999 or so. And I'm old enough to remember the Crash of PM in 1980, & the 20 yr. bear (or sideways) mkt. that mustang84 referenced.
You can't tell the PM True Believers that tho. Esp. the silver bugs, at least on some of the silver forums. (Some of them) have drunk so much of the Koolaid, it's like, they almost don't care what the price is, they just have to keep rushing to convert their Fiat Currency to PM before their $$ become worthless. Or whatever Apocalyptic event they imagine will occur.
At some point gold & silver will become decent buys again; just to pull $$ #'s out of my posterior region......say $600 gold, & $12 silver?......
Tough call. I think the problem is gold and silver have become more of an "investment" type entity the last 5 or so years and many speculated with that. I think the with all the printed money the stock market is a bubble as that is where a lot of the fake money has flowed. A lot of it went into gold at first, but has since lost its popularity. I buy gold and silver, not as an investment, but as safety net against a government that continues to spend and a Fed that continues to think it can actually control inflation. The dollar is crap in the low term unless they get **** together. They can can make the dollar look great for now, but it can only last so long.
I am not sure if this can go much lower then current price.
Sure it can! Just wait for QE to start tapering down more.
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