danieldorkins

Exactly this mate. Why indeed?
Most of the volume buyers on the forum are the same as the volume sellers - different steps on the same reseller ladder. The end user stackers are those who buy conservative amounts and never sell
It's mega undervalued but not as much as silver 😁
I think we're in danger of blowing through resistance and setting a real price for gold closer to $3000 than $2000. Should we be happy? No. The regular people will get burnt alive when this makes the front pages
Consider this. Most of us are pretty stupid but the gen pop and the younger folks are even stupider still. Of those utter muppets, 10% or more in the UK own crypto, in some demographics it's much higher than that. There's a similar story in the USA, 10%+ own some crypto. Compare that to physical gold and silver. The USA is a fraction over 1% and the UK is slightly lower than that, perhaps even less than 1% own physical. What happens to the price of gold and silver if this becomes a mainstream saga? We're going to airmail ATHs and we'll do so by such a margin (an order of magnitude) that we'll never get back there. Oh great you sold at the ATH, congrats, now try and buy it back again
Everybody is excited in here today and the buy/sell is on fire, there's so much going on it's impossible to keep pace. Here's some figures though to contextualise the "real ATH":
 

 

 

Let's assume those charts and the 'Fast Fact' (which are from different sources) have descriptive and predictive power. It seems to line up nicely, right? We're about 2/3rds off the real ATH adjusted for CPI and during the last Great Depression gold went up by 2/3rds. Hmm. Might we be entering an Even Greater Depression? I honestly believe we are, at least for the masses and the ordinary person. The rich are set but us plebs are being roasted alive while our governments and financial systems drown in unsustainable levels of debt, debt that can only be managed by inflation, war or both
Taking some profit is never a bad idea and for those selling gold, congratulations if you have booked a profit. Truly though gold is only for buying, not for selling unless your hand is forced. We get excited about nominal ATHs, daily, weekly or monthly chart movements but we need to keep an eye on the big picture which screams unequivocally that gold and silver are hugely undervalued
Sorry for the TL:DR, lots of interesting comments in this thread today. Anyway, I don't believe we're at an ATH. Economics is not absolute, it's relative, and relatively speaking (aka in REAL terms), we're miles away from the ATH, a minimum +25% if not +67% from today's price. Saying gold is at an ATH is like saying wages are at an ATH. That might be true in nominal terms but in the terms that matter - REAL terms - the average person in this country can't remember a time they were this poor. 

please add me to the ballot.
Cheers.

please add me to the ballot.
Cheers.

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

We have an antique fair close by on a fairly regular basis, not a big one, I used to go to almost everyone, mainly looking for gold and silver coins, most are at unrealistic prices, occasionally I might see something of interest, yes you can weigh,magnet test etc but still cannot bring myself to take the risk! question to the great and good on here, would you buy at a fair? if so, what gives you the confidence?

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

It's cos fundamentally none of us is right, and deep down we know it.
There's no quicker disproval of genius than making a call on what the spot price will be on a certain day/time. I've yet to see anyone hit the right answer! Ignore the soothsayers on YouTube they're all wildly out.
I do know what you mean though about the feel of this forum. I'm a member of another forum, and it's full of very opinionated and "I'm right! - because I'm more intelligent than you" sorts. And in all honesty they're a total bore to converse with, every whim or joke is rebutted or totally missed. Miserable b*****ds.
It's great here though! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Agreed, but the difference is, on this forum it doesn't end up in an argument of who is right and who is wrong, unlike most other forums whatever the subject and for me, this is a major plus here!

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Gold price is unpredictable up and down, like my pants 
One thing I have learnt is the value of sudocrem, one of the beauties about the forum is the different views and opinions all valid In the main, as you say makes good reading and stimulates the Brain 

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Well that was an interesting weekends entertainment! having followed this thread closely for inspiration, what did I learn as a rookie? it seems that no matter how many charts, graphs, quotes, predictions etc nobody really knows what happens to the price of gold at any one particular time, (almost the first thing you are told as a beginner) clearly if there are many different predictions over a period of time, as in this discussion, somebody may be close to the reality but a lot won't be, so what have I learnt? don't be swayed by what you read, stick to your own instinct or even gut feelings and enjoy the ride!
Thanks guys for a really interesting and entertaining thread! 😁

Whilst I enjoy following the ups and downs of the gold price, it just cements the fact I’m pleased to be in it for the long haul. So long as there’s more ups than downs over a longer timeframe I’m just glad to have the opportunity to be involved at all 👍🏼

For what though? Maybe you are day-trading paper but otherwise what does it matter if gold goes up or down by 1%? 
I'm a negative Nelly (my preferred pronoun) and as shown previously with figures from the Perth Mint (August 2023 report), we've got a long way to go until major breakouts:

The key levels we want to break right now are resistance at $1948 and then ATH (with a few in between). Once we break those we have the potential to start climbing fast
 

 
The guys that move markets, many of whom are confirmed gold bugs, are not advising their clients to pile back into gold until that $1950ish level. If we get to $1950 a wave of new money will take us to the ATH, then the next wave will bring us to $2500. I'm sure you've seen the predictions from mainstream institutions and analysts of $2500-3000 in 2024 and that is basically how they are reaching their conclusions along with Fed-watching
I care more about dips than peaks as I need to add to my stack. If and when the above bullish picture comes true it could happen so fast that it's impossible for physical stackers to ride the wave. Us physical guys need money as opposed to paper credit/leverage to buy gold so we should plan ahead, be happy about buying the dip, and relax. For us to realise positive price action we have to sell our gold!!
There was a really good article in Kitco a coupe of days ago. As investors we should always be looking at new info and trying to prove ourselves wrong. Is the above what is really going to happen with gold? We'll trade sideways then take, $1900, $1950 then break ATH? Then after that + 25-50%? I mean maybe, I hope so, seems logical if not certain to me over X horizon depending on Fed/BoE. But it might not.
I was the only person that I recall before the summer repeatedly calling a major dip. By some miracle I even guessed the turning points for both gold and silver, almost precisely in the case of silver (within 1%) and pretty good on gold (within 1.5%). I'm super bullish on the long-term picture for gold but I'm not blind to the risks in between. What would have happened to gold if the Fed continued to hike until Xmas, there was a recession and there was no tension with Israel? Gold would have went to $1700 or indeed $1615
If you buy gold today there is a risk you could lose 10% of your investment before the future moon. This is not a crypto forum or a day-trading forum, we shouldn't be pushing endless bullish optimism (aka propaganda) without considering the bearish alternative
I appreciate your posts and your insights but as you well know, life can sometimes be a b***h and if you're not prepared for the bad times they can hit hard
I think it's clear the unbiased optimal strategy right now is not piling into gold from a purely neoliberal viewpoint (i.e. we only care about making money, not insurance, generational wealth, assets outside the system, CBDCs or things of that nature). The optimal strategy is holding cash and cash-like equivalents (bills, notes, bonds, ISAs, NS&I, etc), waiting for the recession to strike, then buying the dip. That is the least risky strategy that also offers the potential for large gains if you pivot at the right time, become risk-on, buy the dip and then hold long. Of course there's also a chance there is no dip and you completely miss out
"Never count your money, while you're sitting at the table, there'll be plenty of time for counting, when the dealings done"
Dennis Gartman turns agnostic on gold | Kitco News