Ok…I’ve been following this for some time now, and understand there is “much debate” as to the price of gold, the future price of gold, and what the hell is going on with gold in general.
Lets get some answers.
First – Who on earth could believe the dollar’s exchange rate in relation to other currencies if the dollar was seen collapsing in value in relation to gold and silver?
This would completely defeat the money printing effort of the Fed – and undermind the entire “bong buying program”.
So……The Federal Reserve uses its dependent “bank buddies” to short the precious metals markets. By selling naked shorts in the paper bullion market against the rising demand for physical possession, the Federal Reserve is then able to drive the price of gold down.
Bullion prices take a big hit, bullishness subsides and the flow of dollars into bullion is stopped.
Ya?
Somebody correct me if I’ve got this wrong please……as I’ve just ordered a full case of “gold plated bongs” for redistribution and sale to Chinese and Russian tourists here in vacation.
I hope I’ve gotten a reasonable price.
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Thanks Kong. So then, what is your thought about the price of gold near future ?
no doubt Gary Savage agrees with you
Near term – I would have absolutely “zero” expectations for gold, short of any external factors (and be aware….they do exist) creating some massive flight to safety. A hundred bucks up, a couple hundred down, a hundred up etc – could go flat as a pancake for a much longer time – and is dead money in my plan. If you are a longer term investor type well…….buying from here and lower can’t be bad long term – small orders and perhaps physical – pick em off here and there——-just take your time.
That’s great.
Too bad I don’t agree with him.
What a disaster.
Thanks Kong ! By the way, why your comment part does not have “reply” on each one like others ?
Ill ask the tech fellows here at Ibank – thanks for the catch.
I think the outlook/action taken is dependent on the age, life situation and time-frame of the investor/trader.
Mr. Buffet’s view is appropriate for other elderly billionaires. No doubt he understands actuarial science.
A 20 to 40 year old person normally has quite a bit of time risk. At that age, a stash of gold and silver coins might be wise.
Every event will hit, but when? I am unnerved and fascinated by apparently rare events that happen. Sometimes people get it all wrong. For example Las Vegas is NOT the place to do something that needs to “stay in Vegas” The probability of being seen in Las Vegas by someone you have a connection to is actually high.
You bet – age ( and the ability to take on risk )is a major contributing factor. I catch myself at times, as I do forget not everyone reading is in a similar situation as I.
Have a good weekend.