The coming Gold crash

[MancunianStacker]

https://etfdailynews.com/news/why-do-central-banks-keep-buying-gold/

For me every country is on a gold standard (albeit in the background). The Dutch Central Bank explains:

“If the entire system collapses, the gold stock provides a collateral to start over. Gold gives confidence in the power of the central bank’s balance sheet. That gives a safe feeling.”

[Prophecy]

This guy's small youtube channel does a little sensible digging around the subject. He's like you or me rather than someone with business in gold or the markets so his investigative data analysis skills are worth a share

https://www.youtube.com/user/belangp

 

[MancunianStacker]

24 minutes ago, Prophecy said:

This guy's small youtube channel does a little sensible digging around the subject. He's like you or me rather than someone with business in gold or the markets so his investigative data analysis skills are worth a share

https://www.youtube.com/user/belangp

 

Yeah he’s a good guy! 

[Wonger]

Gold futures are now down $71 in seven sessions with commercials 290000 net short futures contracts, this is just the start, keep watching

Edited May 26, 2020 by Wonger

[sovereignsteve]

Funny how we only ever see Wonger when gold is in a down period.

[Wonger]

1 hour ago, sovereignsteve said:

Funny how we only ever see Wonger when gold is in a down period.

You will be seeing plenty of me then!

[HerefordBullyun]

The fed right now helping the gold suppression.

[Oldun]

https://talkmarkets.com/content/commodities/gold-big-difference-which-kind-of-hedge-it-truly-is?post=232347

[Divmad]

6 hours ago, Wonger said:

You will be seeing plenty of me then!

Weren't you the guy who was sitting Gold down to $400 back in late March? If you weren't totally wiped out then, you are just another anonymous mischief making fraud. Seen your sort on hundreds of stock BBs. A waste of space. 

 

[Martin1983]

Is is plummeting at the moment BUT when will we reach $400 and I will be buying galore. 

[Rocky2000]

I think gold will crash priced in silver, but will shoot up priced in fiat

[Prophecy]

7 hours ago, Rocky2000 said:

I think gold will crash priced in silver, but will shoot up priced in fiat

Well, that would be ideal...

[HerefordBullyun]

3 minutes ago, Prophecy said:

Well, that would be ideal...

Ive noticed the gap in gold/silver ratio is closing smaller only a little bit but Ive seen it the figures in the last few days.

[PeterPan]

So when is this crash coming Wonger? Stacking cash just waiting, but got an itchy trigger finger. 

[pyperb]

think there will be a dip start of June, if so buy buy buy

[Martin1983]

@Wonger, anymore news mate, I login here to see the daily update from you tbh, I need gold to crumble so I can start scooping 

[Prophecy]

21 minutes ago, Martin1983 said:

@Wonger, anymore news mate, I login here to see the daily update from you tbh, I need gold to crumble so I can start scooping 

He's just backing up the trucks to dump his 10,000 tons on the market to prove his point.

[Chorlton]

Thinking about it logically if anyone had been shorting gold down to $400 since March each realised trade would mean you lose up to about 70%. Using any form of leveraged trade would mean you have now gone into hiding due to the huge loses.

Assuming you didn't it is likely as things recover other investment opportunities will increasingly take the place of gold and remove that part of the demand for it and other similar assets.

[Goldhooked]

On 27/05/2020 at 05:47, Divmad said:

Weren't you the guy who was sitting Gold down to $400 back in late March? If you weren't totally wiped out then, you are just another anonymous mischief making fraud. Seen your sort on hundreds of stock BBs. A waste of space. 

 

Best post in the thread so far 👍

[KDave]

$750 gold on its way?

[TheApe]

11 minutes ago, KDave said:

$750 gold on its way?

What a load of rubbish. 

Not that gold will go down to 750..just this video.

[KDave]

6 minutes ago, TheApe said:

What a load of rubbish. 

Not that gold will go down to 750..just this video.

You think gold will fall to $750?

[MancunianStacker]

3 minutes ago, KDave said:

You think gold will fall to $750?

If it does I’ll still be stacking it. Money supply still exceeding mining capacity.

[Martlet]

19 minutes ago, TheApe said:

What a load of rubbish. 

Not that gold will go down to 750..just this video.

Elliot wave with Fib replacements, whats not to like? 

[sixgun]

With Elliot wave i have seen it counted one way and then counted another way.
Price going down to $750...........
But Sir the price is still going up...........
Wait a minute, let me count again..............
Price going up to $2200.

The only issue is if the USD appreciates a lot. There is a shortage of dollars out there to pay down USD denominated debts. It could mean the price of the USD will appreciate. The thing is most of us here are buying gold in GBP.  The price of gold might be $750 USD but at the same time it could be £1500 GBP as other fiat depreciates against the strengthening dollar. Are members going to take the chance the USD will strongly appreciate and sell all your gold for USD and hold these on that chance?