Gold: Past, Present, and Future

long 695 Dollar

vividgull10 said:The battle is happening at USDX around 80.

PS.
Just waiting for the weakest link to snap... seeing which way the momentum shifts first. Once that happens, it'll be an easy ride back up to 84+ on the USDX. And obviously, expect corrections across the board.

Emotions. It’s always emotions. Just like any other bottom, everyone starts panicking, claiming it's all over and gold is going to crash forever. As for gold, bottoms happen. We already know there's a chance it could drop as low as 1620 (though there's a slim shot that the slump drags on longer). Ben has already handled the Dollar, so I don't see it breaking 81.5. Thinking it hits 84 is pure science fiction.

lonehawk5 said:long 695 Dollar

Bold move, considering it’s only been dropping for a few minutes.

quiettrucker12 said:Bold move, considering it’s only been dropping for a few minutes.

My chart is showing something completely different.☕

lonehawk5 said:long 695 Dollar

Exited at 697.71 Dollars

quiettrucker12 said:Emotions. It’s always emotions. Just like any other bottom, everyone starts panicking, claiming it's all over and gold is going to crash forever. As for gold, bottoms happen. We already know there's a chance it could drop as low as 1620 (though there's a slim shot that the slump drags on longer). Ben has already handled the Dollar, so I don't see it breaking 81.5. Thinking it hits 84 is pure science fiction.

It’s just as common to find people screaming that the Dollar is dead every single time the USDX sees a minor pullback.
people 😉

vividgull10 said:It’s just as common to find people screaming that the Dollar is dead every single time the USDX sees a minor pullback.
people 😉

Even if it actually "dies," Quantitative Easing is an objective reality right now. It might be done for, say, the next year and a half at least. If we actually hit your target of 84, maybe I'll reconsider... but honestly, I don't think we're even seeing 82 anytime soon.

quiettrucker12 said:Even if it actually "dies," Quantitative Easing is an objective reality right now. It might be done for, say, the next year and a half at least. If we actually hit your target of 84, maybe I'll reconsider... but honestly, I don't think we're even seeing 82 anytime soon.

Whoa, slow down there... what "my 84"? 🙂

As far as I'm concerned, it could hit 184 or it could tank to 0.84. All I care about is volatility. I just mentioned it as a possibility; it wasn't some crazy prediction or wishful thinking on my part.

I don't play those games. As long as there's movement, I'm happy, regardless of the direction.🙂

Long on gold at $682 and long on silver at $31.18

What’s with all these gold bugs? Is there actually a crisis or what? ☕

Anthony Evans78 said:The headline alone is misleading enough. 😁
It’s not turning water into gold; it’s just extracting gold and other metals from water that, if you think about it, had to get there somehow in the first place. 🙂
Then there’s the real issue: how much energy, time, and money are we actually burning through to make this happen?
We’ve known for decades that there’s about six tons of gold per cubic kilometer of ocean, but we don't exactly go mining the sea, do we? It’s pretty simple—the energy and effort required far outweigh any potential payoff.
Nature already handled the distribution perfectly well. 😉

😲 Does anyone actually have the data on how much total gold is out there on the planet?

wanderingmaker3 said:What’s with all these gold bugs? Is there actually a crisis or what? ☕

Are you actually suggesting we’re looking at a correction in this uptrend? Please. Even if they could somehow slash the national debt—which, let's be honest, isn't happening—it wouldn't touch gold's momentum. The only thing that could realistically threaten prices would be a spike in real interest rates—I'm talking 3% to 4% above inflation, specifically driven by food and energy costs. But how realistic is that scenario? If you ask me, it's a total fantasy.

Sometimes it pays to go back to basics...
http://fxtrade.oanda.com/analysis/
(source doesn't matter, just illustrating the point)

It’s worth remembering what the market actually is. Why does it exist? Who’s really playing the game? What drives different types of players to trade? And so on...
Sounds crazy simple, but honestly, it blows my mind how few people bother to ask those fundamental questions over and over again.🙂

vividgull10 said:Whoa, slow down there... what "my 84"? 🙂

As far as I'm concerned, it could hit 184 or it could tank to 0.84. All I care about is volatility. I just mentioned it as a possibility; it wasn't some crazy prediction or wishful thinking on my part.

I don't play those games. As long as there's movement, I'm happy, regardless of the direction.🙂

Theoretically, anything can happen. But it's funny how this crowd always shows up whenever a major bottom is forming, constantly talking about "possibilities" that favor a sell-off. To me, that’s a massive signal that the bottom is right around the corner. All systems go. So far, nobody here is actually claiming the gold bull run is dead or that we're heading back to $1500.

If you ask me, the correction wrapped up back in December 2011. After that, we sat through a long consolidation phase where it wasn't even clear if the May bottom would hold above $1523 (it hit $1526 in May). That sideways movement could have dragged on forever, but then Ben stepped in with Quantitative Easing. Now, the next big wave is finally kicking off—it started around May 16, 2012, and it's starting to pick up steam.

quiettrucker12 said:Theoretically, anything can happen. But it's funny how this crowd always shows up whenever a major bottom is forming, constantly talking about "possibilities" that favor a sell-off. To me, that’s a massive signal that the bottom is right around the corner. All systems go. So far, nobody here is actually claiming the gold bull run is dead or that we're heading back to $1500.

If you ask me, the correction wrapped up back in December 2011. After that, we sat through a long consolidation phase where it wasn't even clear if the May bottom would hold above $1523 (it hit $1526 in May). That sideways movement could have dragged on forever, but then Ben stepped in with Quantitative Easing. Now, the next big wave is finally kicking off—it started around May 16, 2012, and it's starting to pick up steam.

Spot on—you've hit the nail on the head. The true bottom only arrives once the respected voices in this community start posting about the end of the bull market in the metals sector.😂

Personally, my issue isn't even the price correction itself—it's the fact that Silver Wheaton refuses to adjust below the price I sold at... which is frankly quite dishonest on their part.🙂

This company is a beast. I’m definitely picking some up next week—maybe Friday, though Tuesday would probably be the sweet spot—but honestly, any percentage works. Sure, they’ve had their fair share of rough patches in the past, but that’s just the price you pay for holding individual stocks. At the end of the day, it’s much smarter to hold SLW than to gamble on single mining stocks. SIL is also a solid play if you want a silver miners bundle. We saw all too well with Barrick Gold why betting on one miner at a time is a massive risk.

quiettrucker12 said:This company is a beast. I’m definitely picking some up next week—maybe Friday, though Tuesday would probably be the sweet spot—but honestly, any percentage works. Sure, they’ve had their fair share of rough patches in the past, but that’s just the price you pay for holding individual stocks. At the end of the day, it’s much smarter to hold SLW than to gamble on single mining stocks. SIL is also a solid play if you want a silver miners bundle. We saw all too well with Barrick Gold why betting on one miner at a time is a massive risk.

I'm sitting on NEM 🤦

Does anyone happen to know if the upcoming repeal of the luxury and jewelry tax means I'll finally be able to transport gold across state lines without getting hit by extra fees, or will they still try to squeeze me for every cent?

Until we join the USA, you're stuck dealing with both sales tax and customs duties.
Once that happens, the customs fees vanish, though whether you'll still be hit with sales tax just depends on how "brilliant" the American government decides to be. 🙂

It feels like we’ve finally hit rock bottom with silver these days.