The GOLD scream room
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- dualstow
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Re: The GOLD scream room
Gold: worthless
a Hundred-Year Nap: Priceless
a Hundred-Year Nap: Priceless
- dualstow
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Re: The GOLD scream room
Jeffrey Gundlach just said that gold is near all-time highs with other currencies, and that he expects it will hit an all-time high relative to the dollar. (cnbc)
- Cortopassi
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Re: The GOLD scream room
Yes. Good episode!Xan wrote: ↑Thu Mar 05, 2020 9:22 amWasn't there a Twilight Zone episode where some robbers with stolen gold put themselves into suspended animation for 100 years, then try to hike through the desert to civilization with their gold? They die along the way. A passerby later finds them and notes that all the gold has been worthless since it was discovered how to manufacture it artificially.Cortopassi wrote: ↑Thu Mar 05, 2020 8:17 am A century from now we can be getting all our power from Mr. Fusion, and making our own food in our 3D food printer in the kitchen. Farmland is all national parks and Exxon is long gone.
Meanwhile I've cornered the market for gold jewelry for 100 years and am a gazillionaire. I also give tours of the shiny metal cube for $10 a pop.
It's hard to predict the future!
https://en.wikipedia.org/wiki/The_Rip_Van_Winkle_Caper
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Re: The GOLD scream room
I can't recall ever seeing a 45 degree up and to the right like this, without some dip along the way. I don't know whether that is good or bad, but good for today.
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Re: The GOLD scream room
$1700 on Kitco.
- dualstow
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Re: The GOLD scream room
Whoa!
Re: The GOLD scream room
And and stock future and oil futures are absolutely tanking. Going to be another fun, exciting day tomorrow, haha.
Re: The GOLD scream room
Re: The GOLD scream room
Meanwhile, down under....
https://www.youtube.com/watch?v=e6N2oOT ... dex=4&t=0s
(happy I come across the PP nearly 10 years ago!)
https://www.youtube.com/watch?v=e6N2oOT ... dex=4&t=0s
(happy I come across the PP nearly 10 years ago!)
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Re: The GOLD scream room
Back down to up only $3 on the day, at $1676.
Re: The GOLD scream room
Yeah, we've officially hit that public "SELL EVERYTHING!!!" point in the meltdown.
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Re: The GOLD scream room
Re: The GOLD scream room
Money has to go somewhere, and usually in those sell everything panic modes it winds up in bonds.Cortopassi wrote: ↑Mon Mar 09, 2020 9:03 amExcept bonds?
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Re: The GOLD scream room
Hopefully bonds provide a little buffer today, doesn't look like gold will.
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Re: The GOLD scream room
Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.
So far, not at all.
So far, not at all.
Re: The GOLD scream room
There are always way more factors that affect markets than you think. Gold itself may be more valuable than ever, but leveraged stock investors also have to sell something to cover their margin calls. But given enough time, secondary factors will run their course and things will work out.mdwilson1991 wrote: ↑Thu Mar 12, 2020 9:36 am Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.
So far, not at all.
In the meantime, everything is relative. When stocks are hitting circuit breakers, modest gold losses feel like great bargains.
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Re: The GOLD scream room
Especially since gold is still in positive territory for the year.Tyler wrote: ↑Thu Mar 12, 2020 10:13 amThere are always way more factors that affect markets than you think. Gold itself may be more valuable than ever, but leveraged stock investors also have to sell something to cover their margin calls. But given enough time, secondary factors will run their course and things will work out.mdwilson1991 wrote: ↑Thu Mar 12, 2020 9:36 am Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.
So far, not at all.
In the meantime, everything is relative. When stocks are hitting circuit breakers, modest gold losses feel like great bargains.
So far, anyway.
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Re: The GOLD scream room
As I'm writing this, gold is still up about 1% YTD.
And these must be end times, because I've recently sold about 10% of my gold holdings at prices about $100 above where we are right now.
Not because I thought this would happen, but just to have lots of cash because I'm possibly going to buy a house later this year.
And these must be end times, because I've recently sold about 10% of my gold holdings at prices about $100 above where we are right now.
Not because I thought this would happen, but just to have lots of cash because I'm possibly going to buy a house later this year.
- Ad Orientem
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Re: The GOLD scream room
Here we go...
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program...
https://www.cnbc.com/2020/03/15/federal ... ogram.html
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program...
https://www.cnbc.com/2020/03/15/federal ... ogram.html
- mathjak107
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Re: The GOLD scream room
this could go either way .... it basically is saying we are in deep doo doo ...
it could be bad for stocks and bad for gold and long term bonds ..... finding buyers at these rates may be tough for bonds ... and margin calls may see both hammered
it could be bad for stocks and bad for gold and long term bonds ..... finding buyers at these rates may be tough for bonds ... and margin calls may see both hammered
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Re: The GOLD scream room
Wow!Ad Orientem wrote: ↑Sun Mar 15, 2020 4:27 pm Here we go...
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program...
https://www.cnbc.com/2020/03/15/federal ... ogram.html
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Re: The GOLD scream room
I'm going to guess that gold is going to the moon after a possible dive due to margin calls on stocks.mathjak107 wrote: ↑Sun Mar 15, 2020 4:39 pm this could go either way .... it basically is saying we are in deep doo doo ...
it could be bad for stocks and bad for gold and long term bonds ..... finding buyers at these rates may be tough for bonds ... and margin calls may see both hammered
Bonds, I don't know about, because the interest rate cut may be opposed by devaluation of the dollar.
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Re: The GOLD scream room
Inflation worries for bonds ... I mean who wants to buy a 30 year bond paying 1.50% and the govt spending another almost trillion dollars
Last edited by mathjak107 on Sun Mar 15, 2020 5:09 pm, edited 1 time in total.
- mathjak107
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Re: The GOLD scream room
Gold opened up 24 ...stocks down 600
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Re: The GOLD scream room
Stock futures have suspended trading... currently down 1041