Re: The GOLD scream room
Posted: Sun Mar 15, 2020 5:38 pm
Stock futures have suspended trading... currently down 1041
Stock futures have suspended trading... currently down 1041
Permanent Portfolio Forum
https://www.gyroscopicinvesting.com/forum/
https://www.gyroscopicinvesting.com/forum/viewtopic.php?t=4654
These overnight markets in gold are very thin so we can't really have much confidence in their price discovery.mathjak107 wrote: ↑Sun Mar 15, 2020 6:02 pm Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
i just woke up and i thought gold would be soaring .. nope , up just 8 bucks. looks like TLT is getting the dough , up 3.12%Libertarian666 wrote: ↑Sun Mar 15, 2020 6:54 pmThese overnight markets in gold are very thin so we can't really have much confidence in their price discovery.mathjak107 wrote: ↑Sun Mar 15, 2020 6:02 pm Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
Right you were. Down $28.90, to 1501.mathjak107 wrote: ↑Sun Mar 15, 2020 6:02 pm Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
$1454, down $75, at 6:50 Central time.Cortopassi wrote: ↑Mon Mar 16, 2020 6:42 am So mj, isn't this one of your buying opportunities time?
The question is how long. This is obviously not a one day terrorist event. This is a multi-month slow motion disaster that is going to put equities (and gold?) at levels likely unimaginable just a couple month ago. No where to hide except cash, and maybe, we'll see, bonds.mathjak107 wrote: ↑Mon Mar 16, 2020 7:21 am Well I bought Friday with it down almost 9% last week.
I will add another 50k today It I doubt I will add more if we fall. I will just sit with it. I had as much as 500k in it at one time.
gold is in a bad position lately ... it ran up from the fear ,, now lost it pretty much and then some from the sell off ... the dilemma is it is not doing well with fear high and it stands high odds of getting beat up as fear declines and equities at these levels become the golden child
very true ... when even the supposed flight to safety assets suck there is little to watch or care about .....the profit i will see in TLT today on what i bought friday is like peeing in the ocean .Cortopassi wrote: ↑Mon Mar 16, 2020 7:59 amThe question is how long. This is obviously not a one day terrorist event. This is a multi-month slow motion disaster that is going to put equities (and gold?) at levels likely unimaginable just a couple month ago. No where to hide except cash, and maybe, we'll see, bonds.mathjak107 wrote: ↑Mon Mar 16, 2020 7:21 am Well I bought Friday with it down almost 9% last week.
I will add another 50k today I doubt I will add more if we fall. I will just sit with it. I had as much as 500k in it at one time.
gold is in a bad position lately ... it ran up from the fear ,, now lost it pretty much and then some from the sell off ... the dilemma is it is not doing well with fear high and it stands high odds of getting beat up as fear declines and equities at these levels become the golden child
Lonestar, all I can say is if gold reacts, it isn't on a day by day basis. It should work out in the end, but you'll hate it along the way and lose confidence in it!
The ups and downs on all the assets is doing a really good job for me mentally to not give a crap about how one performs vs. the others.
This certainly seems like it would be one of those times that gold skyrockets. Instead the opposite.
I think German psychoanalyst Sigmund Freud coined the term for that, kaufkrugerrandkanntschtanditknomorAd Orientem wrote: ↑Mon Mar 16, 2020 9:48 am Gold trading around 1477 oz. I just ordered a krugerand because I couldn't stand it anymore.
Good one. Gold popping back up, so good call AD.dualstow wrote: ↑Mon Mar 16, 2020 10:12 amI think German psychoanalyst Sigmund Freud coined the term for that, kaufkrugerrandkanntschtanditknomorAd Orientem wrote: ↑Mon Mar 16, 2020 9:48 am Gold trading around 1477 oz. I just ordered a krugerand because I couldn't stand it anymore.
Yes, and in fact in 2008 the "price drops" were more apparent than real. I tried to buy some gold when it dropped to $800, and the only physical metal I could find, namely 1 oz. Kitco bars, had a premium of 10%, which is at least twice the normal premium.pmward wrote: ↑Mon Mar 16, 2020 11:41 am Guys this happens every time. Go look back at 2008, in the panic gold dropped along with stocks, even though fundamentally it was good for gold long term. It was one of the best buying opportunities for gold in decades. Same thing is playing out today. Gold will go up dramatically once the panic starts to subside and people have to stop selling gold to cover margin calls.