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Topic: Gold 2020 (Read 616 times) previous topic - next topic

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  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #15
There are some really large influences on election this time around. Evaluation of handling pandemic, bailouts for mismanaged states over the years having the crises giving cover for bad decisions, Trump's tough stance with foreign countries, and defacto endorsement of monetary policy stealing voter wealth (double digit inflation?) as cover for political mismanagement over the years by federal politicians. Those are emotional issues, particularly wrt the pandemic and folks w/o jobs have time to demonstrate and if they are hungry or have nothing to lose, do so violently. I think you are right, this summer and fall could see some serious rioting.
The left in this country has become unhinged in their quest for power.

Re: Gold 2020
Reply #16
I am inclined to think gold might have finished the minor correction anticipated in the several posts above. The bear pennant is about to close and volume is approaching recent minimums. The drop yesterday might reflect increased bank short selling as it is a whole week before they need to report that activity. Both MACD and STO charts look to be forming bottoms. I am not acting on this, just putting it out for consideration.


  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #17
For Entertainment Purposes Only.

  • Nikko
  • [*][*][*][*][*]
Re: Gold 2020
Reply #18
I predicted a 20-30% move higher in the S&P and we are now at 30%. I would be shocked to see all time highs again, but its possible. I would not be shorting.
What I fear for gold is when the market starts dropping, I am pretty sure gold will drop taking miners down significantly in a liquidity move.
I am holding all physical gold at 1000 CAD cost. ( bought at 900 in 2009 and this year at 1900 cad ). Holding my physical silver which has a terrible cost of 19.50. Im out of all miners presently.
In Canada you can actually park money into Tangerine Bank at 2.8% interest for 5 months in a savings account. You are not locked in and can pull it out anytime. I put my cash in here.
IMO, with 12-18 months we will see the s&p down 50-75% off these levels and there will be bargains. real bargains, especially in oil shares. Fortunes can be made then. I simply see no reeason to be long anything now and look at my gold as cash and not an investment ( and away from the banking system )
Why not wait?
The smartest guys I worked with ( Lundin, Kenneth Dart, Sorros ) ...they were my clients back in 1996-1998. These guys waited and bought blood in sectors that folks hate and made 10-50X their money in a 2-5 year span.
The best advice Adolph Lundin gave me was: why do you need to always be in the market? Just wait as crashes happen at least once every ten years. We are there IMO very shortly and Ill have cash for this moment.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Gold 2020
Reply #19

The best advice Adolph Lundin gave me was: why do you need to always be in the market? Just wait as crashes happen at least once every ten years. We are there IMO very shortly and Ill have cash for this moment.

The big question is, how low can low go. I was shocked when we found the answer last quarter.

  • Nikko
  • [*][*][*][*][*]
Re: Gold 2020
Reply #20
how low can it go...well in the Russian default, I owned Norilsk Nickel. It went down 95%. I bought some when it was .20 cents...It went down to .10 cents. I sold the lot in 2003 or 5 years later at 4.00 for 20X my money.
In 2009 I bought High River Gold shares at .09 cents and sold then at 1.10 for 10X my money 2 years later.
Its these types of opportunities that are around the corner if one is patient. They will come, I am certain of this.
Ive made good money trading but those 2 times created most of my wealth along with my job.
Now imagine buying Exxon for under 10 dollars a share??

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #21
For Entertainment Purposes Only.

Re: Gold 2020
Reply #22
For the last 5 weeks or so the $1735+ has been resistance, but looking at MACD and TSI, we might be on the cusp of breaking through


Re: Gold 2020
Reply #23
Over the last year, gold has outperformed gold as we have all noted with gold silver ratio charts. Also noted is it is typical for gold to outperform silver early in a recession and then silver outperforms gold, but they both advance. I think we may have entered the silver outperformance era.






  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #24
Gold is really gaining some attention with the fed's printing press going Brrrrrrrrrrrrrrrrrrrr.
Silver is going to make some unbelievable moves.
For Entertainment Purposes Only.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #25
I see a drop similar to the one we just had right before they started QE in 2008

For Entertainment Purposes Only.

Re: Gold 2020
Reply #26
The drop might not be so severe as the response to Wuhan virus and shutting down the entire economy has had a much larger monetary response than the great recession response.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Gold 2020
Reply #27
I was referring to this drop here which as you stated, wasn't as bad as 08.

For Entertainment Purposes Only.

Re: Gold 2020
Reply #28
Sorry Ed, I did not realize you were referring to the March drop.