The GOLD scream room

[dualstow]

I think we need to see three digits in gold to completely destroy morale.

+1

Can't wait to buy!

[MachineGhost]

I don't think Yellen has any viable moves at this point. She'll keep pushing the date for a "intended" rate hike out as long as she can. She kinda can't just come right out and say that the economy is too crappy to raise. In my opinion the next move is QE4. It won't do much but I think The Fed has to appear to be doing something. We'll see. No bullets left at this point. Everything looks deflationary to me but you never know what moves in China, Europe or elsewhere might set something in motion where all this money sloshing around really does end up being inflationary.

There is no money sloshing around.  You need to learn some Monetary Realism.  Although we can't rule that out in China the way they are a Red Economy.  When they inject, it could be literal.

[Libertarian666]

I think we need to see three digits in gold to completely destroy morale.

+1

Can't wait to buy!

I see three digits right now, 1, 0, and 8. What digits do you see? 

[dualstow]

I see three digits right now, 1, 0, and 8. What digits do you see? 

Wow, is it down to 1108? Last I looked was 1115-1130. Getting there!

[Libertarian666]

Apparently the entire gold drop is due to the dollar going straight up. In CHF, gold is doing fine.
When will this stop? When the currency market figures out that the Fed has no intention of ever letting rates go up.

[mathjak107]

markets can be smarter then we think

[dualstow]

Apparently the entire gold drop is due to the dollar going straight up. In CHF, gold is doing fine.

Glad the pp includes cash.

[mathjak107]

as any good plan does

[dualstow]

as any good plan does

But this isn't the "any good plan" forum, is it?

[mathjak107]

actually it is since the comparisons here  posted by you all are always  the pp vs  some other plan or allocation  .

[dualstow]

You're tiresome, mathjak. I think I'll give up on this forum for awhile.

[Reub]

Dualstow,  you're contributions here are invaluable.  I hope that you stick around.

[Jack Jones]

You're tiresome, mathjak. I think I'll give up on this forum for awhile.

The ignore list feature has made my experience here much more pleasant.

[mathjak107]

You're tiresome, mathjak. I think I'll give up on this forum for awhile.

sounds good

[Libertarian666]

You're tiresome, mathjak. I think I'll give up on this forum for awhile.

The ignore list feature has made my experience here much more pleasant.

+1000000 internet points.

[Cortopassi]

And here we go.  I guess we'll get to see how the good jobs report is interpreted. 

I say down $30 at least on gold (getting there) and after a quick drop on stocks, the mantra will change from bad for stocks to good for stocks because the economy is improving.

And then there won't be a rate hike because of "other" conditions.

But the damage will have been done on gold yet again.

[Libertarian666]

And here we go.  I guess we'll get to see how the good jobs report is interpreted. 

I say down $30 at least on gold (getting there) and after a quick drop on stocks, the mantra will change from bad for stocks to good for stocks because the economy is improving.

And then there won't be a rate hike because of "other" conditions.

But the damage will have been done on gold yet again.

When the rate hike doesn't happen, the dollar will go down.
And since all of the pounding that gold is taking is due to the dollar's ridiculous spike, that will reverse too.
You heard it here first. 

[buddtholomew]

And here we go.  I guess we'll get to see how the good jobs report is interpreted. 

I say down $30 at least on gold (getting there) and after a quick drop on stocks, the mantra will change from bad for stocks to good for stocks because the economy is improving.

And then there won't be a rate hike because of "other" conditions.

But the damage will have been done on gold yet again.

When the rate hike doesn't happen, the dollar will go down.
And since all of the pounding that gold is taking is due to the dollar's ridiculous spike, that will reverse too.
You heard it here first. 

Keep dreaming...

[ochotona]

Budd, I bought a little bit of physical gold today! A one ounce Canadian Maple Leaf! I can't pick the bottom, so I'll buy in little drips whenever the stochastic oscillator shows oversold.

[lordmetroid]

I only use IAU, no need for physical gold. It has way to much spread, storage/transportation fees and isn't very liquid in comparison.

[Cortopassi]

The reason for physical is no counterparty risk.  Sure, you still need to store it safely, but it is portfolio insurance.  Liquidity is relative.  If some event closes markets long term, you can't get out of IAU, but I can probably sell my coins to someone or the local coin/jewelry shop.

[Cortopassi]

Of course at this rate, gold will have no value by about mid-2016 

[ochotona]

$500 by 2023

[Libertarian666]

And -$500 by 2030? I can't wait! 

More seriously, this is 100% caused by the dollar's absurd strength. As soon as that goes away, gold will take off in the upward direction.

[Cortopassi]

Agree it is caused by dollar strength, but the key word in there -- Absurd.

Is it absurd?  You read certain sites, and yes, it is clearly absurd.  You read others, and not so much.  The US is still the best place to park money, so while I drank the Koolaid for many years thinking there would be high inflation and the dollar would tank, I am not of that opinion now, at least not short/medium term.

It seems many of the gold sites use COT reports and dollar strength/dollar shorting to their advantage when it works for them and discount it when it doesn't.

I recall reading how the COT reports are all a fabrication on a couple of sites and then a few months later the reports are gospel when they works as they expect it to.

Anyway, I am trying to not be extreme toward any asset class.  Gold has completely lost its allure for me -- however, I will keep it at 20-25% (liking the looks of the Golden Butterfly portfolio allocation).  It is just another asset and I was wrongly too bullish on it and too bearish on other things for too long.