The coming Gold crash

[sovereignsteve]

I like your sense of humour anyway.

[Kman]

It's going to $1840 in the very near future, I will quote myself soon when I am right 😎

 

[Hennypenny]

I know a good treatment for Wonger. It's call ECT. His brain needs a reset.

[KRO]

On 10/07/2020 at 22:15, Martin1983 said:

@Wonger I know nothing about these short positions you take 

Don't worry, neither does Wonger

[Wonger]

Bolsheviks may even drive the Futures negative $500 using the excuse that their Banks have re possessed so much property there is no where to store the Gold anymore 😉    

[Wonger]

2 hours ago, Kman said:

It's going to $1840 in the very near future, I will quote myself soon when I am right 😎

 

Takes both sides to make a market and I think its about to fall off a cliff 😉

[5huggy]

16 minutes ago, Wonger said:

Takes both sides to make a market and I think its about to fall off a cliff 😉

So get ready everyone - to back up the "TRUCK" and load up on cheap Gold! 😉👍

[Chorlton]

1 hour ago, Wonger said:

Takes both sides to make a market and I think its about to fall off a cliff 😉

Have you got anything else you predict will collapse to about 20% of their current Market value 😉

Since your March price prediction of gold to £400 it has had double digit growth. Any more predictions would be appreciated 🤠

[TheApe]

Wonger has been at this since 2018. This just gets more and more comical.🤣

Beware all, every idiot is right at least once.

 

Since then..

[Wonger]

3 hours ago, TheApe said:

Wonger has been at this since 2018. This just gets more and more comical.🤣

Beware all, every idiot is right at least once.

 

Since then..

Support held and I was long Gold and Silver posted on here for all to see, the comedy is therefore on you my friend! 😁

[TheApe]

Sure Walter Mitty.

 

[Midasfrog]

The coming gold crash is Nolonger Wonger 🤣🙈

[Minimalist]

I take it @Wonger you were behind this?

Edited July 15, 2020 by Minimalist

[HillWalkerDundee]

And meanwhile, nation states are buying every ounce they can especially India and China. Time for a financial reset.

[silenceissilver]

I offer a bet to anyone who might be interested:

If the spot price of gold falls under 500 US Dollars within a timeframe we both agree on, you will get 3 ounces of gold from me, as soon as the spot price falls under this mark. Should it not fall under this mark within the agreed time, I will get one ounce of gold from my counterpart in this bet. The basis is the spot price at the end of the week.

I will not agree to this bet, if the suggested time is too long because I couldn't be bothered to wait for my free ounce of gold for ages but as it will fall under 400 US Dollars soon anyway, I don't see an issue there. May I kindly suggest, by the end of 2020?

[HillWalkerDundee]

52 pages of the Coming Gold Crash and the gold price is at a very high level. Who knows maybe the price will crash at around page 137.

[Kman]

Someone correct me If I'm wrong

If banks lower interest rates doesn't that suck currency out of bonds and into other assets? 

That existing currency along with all the extra currency the fed created have to go somewhere right? obviously one place it's going atm is stocks

How much of it is going into gold currently and how much more of it will end up in gold (& silver and bitcoin) in the next couple years+? you would think a lot

After QE started in November 2008 gold went up 90% from it's march high of $1050 to $1900 in three years. I might be wrong but as best I can google the fed QE'd 3.6 trillion, not sure how much other banks QE'd

If they do similar QE over the coming years which seems likely, what's to say gold can't go up 90% from the 2020 pre QE high? which was about $1325, so $2500 ish

$2500 gold in 2022 seems way more likely to me than your soon $500 prediction

I wouldn't be surprised if we never see gold under $1450 again 

Edit> I'm probably thinking about it wrong, if $1900 was possible before with QE then maybe the starting point is $1900 when that currency flows back in + new QE so it's more like $3500 is possible 

 

Edited July 16, 2020 by Kman

[HawkHybrid]

8 hours ago, Kman said:

Someone correct me If I'm wrong

If banks lower interest rates doesn't that suck currency out of bonds and into other assets? 

That existing currency along with all the extra currency the fed created have to go somewhere right? obviously one place it's going atm is stocks

How much of it is going into gold currently and how much more of it will end up in gold (& silver and bitcoin) in the next couple years+? you would think a lot

After QE started in November 2008 gold went up 90% from it's march high of $1050 to $1900 in three years. I might be wrong but as best I can google the fed QE'd 3.6 trillion, not sure how much other banks QE'd

If they do similar QE over the coming years which seems likely, what's to say gold can't go up 90% from the 2020 pre QE high? which was about $1325, so $2500 ish

$2500 gold in 2022 seems way more likely to me than your soon $500 prediction

I wouldn't be surprised if we never see gold under $1450 again 

Edit> I'm probably thinking about it wrong, if $1900 was possible before with QE then maybe the starting point is $1900 when that currency flows back in + new QE so it's more like $3500 is possible 

 

 

historic data suggests rising rates at times of higher gold prices.

https://www.youtube.com/watch?v=LWt2jewEN9Q

 

HH

Edited July 16, 2020 by HawkHybrid

[Kman]

42 minutes ago, HawkHybrid said:

 

historic data suggests rising rates at times of higher gold prices.

https://www.youtube.com/watch?v=LWt2jewEN9Q

Isn't that flawed because they are comparing low interest rates without QE

Like saying an egg is an omelette not a pancake

But an egg (low interest rates) is an omelette (high gold) when you add other ingredients: QE and fear - as seen in 2008

Edited July 16, 2020 by Kman

[HawkHybrid]

17 minutes ago, Kman said:

Isn't that flawed because they are comparing low interest rates without QE

Like saying an egg is an omelette not a pancake

But an egg (low interest rates) is an omelette (high gold) when you add other ingredients: QE and fear - as seen in 2008

 

dec 2015, the first rate hike in many years til then, was also the lowest gold price($) for

the decade it's in.

the media rationale of lower rates means higher gold prices is flawed. (the media are not

analysts, so they only say what (sounds right)people are willing to buy.)

 

HH

Edited July 16, 2020 by HawkHybrid

[Kman]

25 minutes ago, HawkHybrid said:

the media rationale of lower rates means higher gold prices is flawed. (the media are not

analysts, so they only say what (sounds right)people are willing to buy.

What was gold doing 2008-2011 when interest rates were low?

What's going been doing since March with low interest rates?

You could argue there's no correlation between interest rates and gold price and it's just the fear and QE but I don't see how you could say high interest rates = high gold 

[HawkHybrid]

25 minutes ago, Kman said:

What was gold doing 2008-2011 when interest rates were low?

What's going been doing since March with low interest rates?

You could argue there's no correlation between interest rates and gold price and it's just the fear and QE but I don't see how you could say high interest rates = high gold 

 

1980 high rates = high gold price.

in shorter time frames the gold price will fluctuate but the longer term driving force of

rising interest rates is to produce higher gold prices.

(there is sometimes divergence at certain turning points, but on the bigger picture the

correlation is quite clear)

 

HH

Edited July 16, 2020 by HawkHybrid

[sovereignsteve]

No way to compare current conditions with the past as we are in uncharted waters.

[Roy]

1 minute ago, sovereignsteve said:

No way to compare current conditions with the past as we are in uncharted waters.

One might say unprecedented 😀

[Ravoma]

20 hours ago, Minimalist said:

I take it @Wonger you were behind this?

🤣🤣🤣