silversaddle1 said:
Well, will the gold price top it's all time high in the next few days? $1900.00 is my sell point and I think I'm going to stick with it. But then that little voice........ :shock:
Per the underlined - I would listen to that little voice & hold
Why ? --- Because - at least in part what has caused gold/silver to go up is the devalued dollar as a result of the 6 trillion dumped due to the covid thing - with the resurgence of the covid thing there will be another stimulus dumping of another 2 - 3 trillion which means further devalue of the dollar --- therefore I believe over the next 2 -3 months gold is likely (plus/minus) another $200 - & because silver normally lags a bit behind gold I believe silver will likely go up at least another $5 - & potentially another $10
jimdoc posted
I wouldn't sell it all. Keep some for insurance.
Words of wisdom - in fact as I explained above I am going to hold ALL for at least the next 2 - 3 months --- as always we will see ups & downs but I believe for the next few month we are going to see greater ups then downs
with $2,000.00 an ounce for gold $20.00 for an ounce ofsilver very possibly being the new low point on the scale.
I agree - at least in the sorter term (next 6 months to a year) depending on how &/or the time it takes to equalize the current dumping of money
Gentlemen, you've crossed the line. This has now become a debate on politics, and you know that violates forum rules.
Dave - I agree - I do not care to discuss political views on issues "in general" - though I may have an opinion on issues in general (the wall - racism - etc. etc.) I will hold those views to myself
However - that said - I do care what happens to "my money"
I have a FAIR amount of "my money" invested in gold & silver
Discussion of gold & silver is in fact the purpose of this forum - & that includes the discussion of where the value of gold & silver may - or not go - as we all have a vested interest in what may or not happen with the price of gold & silver
The price of gold & silver has a "direct" relationship to the value of the dollar
The value of the dollar has a "direct" relationship to what our national debt is
When the Fed "dumps" trillions (they "borrow" that money through the federal reserve - which are privet owned banks) the national debt goes up - the value of the dollar goes down - causing the price of ALL commodities to go up (inflation)
We are "currently" watching exactly that take place with the current dumping of "about" 6 trillion & they plan to dump another 2 - 3 trillion --- commodities - including gold & silver WILL go up --- that is economics 101
Gold is currently at $1,900/ozt - that is in part due to the (de)value of the dollar - which in part is due to the current national debt - which is currently at "about" 26 trillion
Now then - I don't care one bit which party DUMPS the money that devalues our dollar - thereby causing the price of commodities to "inflate" --- what I do care about - is how much one party - or the other - "intends" to DUMP - causing the above effect
The simple FACT of the matter is - it just happens that it is the DEMs that are "openly" saying they intend to dump a HUDGE amount of money into our national debt --- in other words - I would feel the same if it was Republicans talking about dumping 90 trillion --- in other words my view is NOT Republican VS Democrat - it is money VS money & how one money compared to the other money is going to effect my bottom line
This is what I "know" --- gold is currently at $1,900/ozt --- our national debt is currently 26 trillion
Therefore - considering "basic" economics 101 - if they were even talking about simple doubling the national debt - you can expect the price of gold (along with ALL other commodities) to "at least" double
That means the value of my dollar - will DE- value by "at least" double - I will need "at least" twice the money to buy the same thing
But they are not simply talking about doubling our national debt (another 26 trillion) they are talking about DUMPING another 90 trillion PLUS - that is close to 4 time MORE our current debt
If you don't think that will devalue our dollar & inflate the price of commodities by AT LEAST 4 time - Then I just don't really know what to say - other then common sense tells me our economy will go into such a "free fall" that I will not be able to put enough $100 bills in my wallet to pay for anything
Therefore - depending on the outcome of the up coming election - I am holding on to my gold & silver - it is the one thing I have - that may at least off set the potential free fall we could see - IF - leadership changes in this next election
So my view is what may happen with the money rather then the politic "
in & of them selves" - but - it also just so happens - that what happens with the money will be determined by politics - which in turn be determined by this coming election
So I will hold my gold/silver till then because gold could go 4 times higher then the current price - but I will need EVERY penny of that to off set the inflation of the devalued dollar
Kurt