Gold Price Predictions.

[Omnipotent]

There is a lot of movement on gold prices the last week and its like a yoyo today since opening.

With the state of low trust of governments worldwide, Coronavirus and Saudi and Russia at loggerheads on oil prices does anyone else feel that this is the time for gold prices to out do the high prices of 2011?

I think people are selling as the prices rises enough for them,which is causing the fluctuations but Gold seems to be bullish.

I'm in for the long run but if gold hit 30k a baht I would be tempted to dump the lot.

Any thoughts on it?

[timendres]

Speculating in gold is a tricky business. I use it strictly as a long-term hedge against fiat currencies. As for the near term, your guess is as good as mine, but given that it is at a 7 year high, and approaching an all time high, it is not the best "trade" to go long here. As for dumping it, it is not a bad trade, but I would sell only a fraction to take some profit. If it were to move higher, your hedge could get expensive to put back on.

[ThomasThBKK]

5 minutes ago, timendres said:

Speculating in gold is a tricky business. I use it strictly as a long-term hedge against fiat currencies. As for the near term, your guess is as good as mine, but given that it is at a 7 year high, and approaching an all time high, it is not the best "trade" to go long here. As for dumping it, it is not a bad trade, but I would sell only a fraction to take some profit. If it were to move higher, your hedge could get expensive to put back on.

Same, also i only consider gold in physical form. Paper gold is mostly fraud, in my point of view.

 

If you can't touch it, you don't own it.

[Omnipotent]

10 minutes ago, timendres said:

Speculating in gold is a tricky business. I use it strictly as a long-term hedge against fiat currencies. As for the near term, your guess is as good as mine, but given that it is at a 7 year high, and approaching an all time high, it is not the best "trade" to go long here. As for dumping it, it is not a bad trade, but I would sell only a fraction to take some profit. If it were to move higher, your hedge could get expensive to put back on.

Yeah understood, its tricky situation...I feel that its going to go a lot higher now and I wouldn't be devastated if it went low. again.Although I can't see that happening as I see big recessions coming all around and Thailand is in a bubble at the moment so looking forward to getting more buck on my dollar salary when the carpet slips from underneath their feet.

[Omnipotent]

12 minutes ago, ThomasThBKK said:

Same, also i only consider gold in physical form. Paper gold is mostly fraud, in my point of view.

 

If you can't touch it, you don't own it.

Same here if you don't physically have it I don't think your paper deed will buy much if banks and gold holdings are crashing.

[ICELANDMAN]

8 minutes ago, Omnipotent said:

Same here if you don't physically have it I don't think your paper deed will buy much if banks and gold holdings are crashing.

Who assures you that when everything should collapse there will be someone who will pay  your gold with paper money that is worth nothing ? What you make with your gold this time ?

[ICELANDMAN]

The price of paper gold is pure speculation and that is what determines the real price of gold, therefore the price of gold goes up and down as now maybe it will go up again but for sure it is going down again

[SCOTT FITZGERSLD]

major U.S. bank predicts gold to hit 1800 soon, that is

10% rise from current price.

but  A better investment might be silver. 

one ETF that tracks silver is SLV

[Neeranam]

The only thing that can bailout the banks this time is gold and digital currencies. 

 

Gold and XRP are wise to hold. 

[swissie]

On 3/9/2020 at 7:05 AM, ThomasThBKK said:

Same, also i only consider gold in physical form. Paper gold is mostly fraud, in my point of view.

 

If you can't touch it, you don't own it.

There are Gold-ETF that are backed by physical Gold, stored in a vault, that can be "called" if the customer decides to take physical posession.
Even if the issuing Bank fails, those are "segregated-funds" that are not part of the balance-sheet if the issuing Bank fails.

Among others, UBS and ZKB has physically backed Gold ETF's.

[swissie]

On 3/9/2020 at 7:29 AM, ICELANDMAN said:

Who assures you that when everything should collapse there will be someone who will pay  your gold with paper money that is worth nothing ? What you make with your gold this time ?

The opposite! Who will sell you anything for worthless paper-money?
Take the Mega-Inflation in Germany after the 1st world war. The ones that owned real-estate or Gold or US Dollar survived the Mega-Inflation financially unharmed.

[swissie]

Giving the circumstances, Gold has been underperforming. No wonder, as the Swiss-Franc is rivalling Gold as "a safe haven".
- But too late in the game to jump on the Swiss-Franc bandwagon. As an export-oriented economy, the swiss central bank will have to cap the rise of the CHF at current levels. = "Whatever it takes" comes to mind. Thus bringing Gold back into focus as "a safe heaven" soon.

- Apart from the "virus-issue", I see plenty of Global-disturbances coming our way in the future, supporting the price of Gold. (Too numerous to mention).

Remembering my grandmothers words: "Have always some Gold. Don't think about it, just have it. By the time you remember your Gold holdings, there will be a reason for you rembering your Gold holdings and the price will be higher than when you bought it".

This advise does not come from Warren Buffet, but from my Grandmother.

[Susco]

15 hours ago, Neeranam said:

The only thing that can bailout the banks this time is gold and digital currencies. 

Are you for real?

 

Have you seen that digital currencies have declined by 20% in the last 7 market days, while gold has increased in price?

[Neeranam]

9 hours ago, Susco said:

Are you for real?

 

Have you seen that digital currencies have declined by 20% in the last 7 market days, while gold has increased in price?

What's your point? I sold gold on 2012 for 26/27,000 baht, 10 years later, its lower. 

 

Do you know the price of bit coin 10 years ago? 

 

Btc can rise 20% in a day, its still up for this year. 

Edited March 11, 2020 by Neeranam

[Neeranam]

10 hours ago, Susco said:

Are you for real?

 

Have you seen that digital currencies have declined by 20% in the last 7 market days, while gold has increased in price?

Actually, my charts say that the top 3 digital currencies are down under 10% in the last 7 market days.

[mshs]

Yes, correct.

 

So many on the Forbes billionaire list are closet goldbugs.

So is the Millionaire Next Door.

And all of those early retirees.

[mshs]

On 3/10/2020 at 10:17 AM, swissie said:

This advise does not come from Warren Buffet, but from my Grandmother.

That is why WB has pledged over a $100 billion to charity and you inherit 30 pieces of silver or was it gold? ????

[Omnipotent]

Gold is Bearish now , just time to sit wait and enjoy the most volatile market in history.

[Logosone]

I trade Gold USD in Forex and I am completely astonished, shocked and flabbergasted that Gold has not rallied to the early March high.

 

Indeed Gold is still bearish for now. How is that possible? You'd think this is the time when people buy gold.

 

But I guess the fear is so deep for now, that nobody really wants to buy anything, not even gold. They are keener on maintaining liquidity.

 

So I'd agree that we've still to see a gold upward move.

 

I think it will definitely retest the 1700 again.

Edited March 19, 2020 by Logosone

[Omnipotent]

2 minutes ago, Logosone said:

I trade Gold USD in Forex and I am completely astonished, shocked and flabbergasted that Gold has not rallied to the early March high.

 

Indeed Gold is still bearish for now. How is that possible? You'd think this is the time when people buy gold.

 

But I guess the fear is so deep for now, that nobody really wants to buy anything, not even gold. They are keener on maintaining liquidity.

 

So I'd agree that we've still to see a gold upward move.

 

I think it will definitely retest the 1700 again.

Silver and gold are sold out in most US and other countries bullion sellers daily ...it seems to me that everybody with paper stock shares is dumping while they can and Gold and Silver Physical holdings will make an all time high....I wish I had some more physical silver,I got a friend to buy me a couple of kg in the UK a couple of months ago at I still think a very cheap price with no tax but 100kg would have been great value.

lets wait and see...