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RE: GOLD: Are you a GOLD Bug? Just Because It Glitters Doesn't Mean you Can't Wait to Buy!

in #gold7 years ago

I've been following for a short period of time & for the most part have say that your predictions are quite accurate, however with relation to Gold seeing it drop below $800 US would be the biggest buying opportunity ever, especially with Oil creeping up slowing to the level it was at prior to 2011 which coincides with Golds bear market.

I personally am in a healthy disagreement with you from a fundamental basis, the dollar lost 12% against Gold last year is continuing to fall against all major currencies including crypto's, Oil is creeping up & so will inflation, geopolitical tensions and even when the Fed hikes interest rates Gold moves higher..

If it did however drop below $800 I would be a major buyer..

Thank you very much

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If gold dropped much lower than its current price, it might not be profitable to mine it. So I think I am in agreement with your post. If gold got close to $1,000 USD, i might convert half my USD savings into gold. And if it got to $800 I would probably convert the other half.

If gold would get that low it would only be the paper derivatives which are fake anyway... you would just pay a really large premium over spot. This has happened with silver in the recent past already, when I got all exited and tried to buy it sub $14.... also delivery times at the big sellers like apmex go to unreasonable times. Just my 2 cents though.....

I think the precious metal markets are manipulated so much that it is hard to compare it to crypto.