Time to sell??

[Shamatti]

So where are prices going? I know. How long is a piece of string right? lol 

Just hoping to get some gut feelings from people. 

I am having to sell up the majority of my stack, I need to find somewhere to live before winter sets in. I can't face living in an old leaky van over winter in the UK I would freeze! So I am raking in every penny I can to try and find a little place to buy. 

I managed to sell a bunch of stuff a couple of weeks ago while pices were high. This was luck not judgement! lol So when will prices be going back up again? What do you think?

My gut feeling is they will drop for a while yet and I should sell more now before they do. What's your opinion? 

 

[KitboyE17]

I believe we’ll see gold at US3,000 before the year is out

[sstrrs]

If we say winter begins Oct 15-30th, I don't think there'll be much movement before that time. But it's 2020, who knows.

[Frenchie]

For me, silver and gold are in a corrective wave after the last bullish move. The correction seems to be sideway, but a retracement for gold around 1800/1840 usd and silver around  25usd is still possible (and a big (last ?) buying opportunity). my target around december/february is around 2300/2450 usd for gold, 32/33 usd for silver, before a next drop but with the economic and geopolitic turmoils, everything is possible (who predicted gold at 2075 us this year ?)

 

[Shamatti]

44 minutes ago, KitboyE17 said:

I believe we’ll see gold at US3,000 before the year is out

Yes, people keep saying that but I am not so sure....

 

[Martlet]

58 minutes ago, KitboyE17 said:

I believe we’ll see gold at US3,000 before the year is out

Tea leafs suggest we are going the other way.  

[Roy]

1 hour ago, KitboyE17 said:

I believe we’ll see gold at US3,000 before the year is out

27 minutes ago, Shamatti said:

Yes, people keep saying that but I am not so sure....

 

What was your gut feeling when gold hit £800oz...£1000oz....£1200oz?

[HawkHybrid]

30 minutes ago, Shamatti said:

Yes, people keep saying that but I am not so sure....

 

 

consider selling sufficient amounts to meet your immediate needs for currency?

gold is still at previous all time highs($) so it's had a good run. you can't always time it perfectly.

a bird in hand is worth 10 in the wild.

 

HH

[AppleZippoandMetronome]

My gut feeling is that the meaningful rises are not over. I think things might stagnate for a while (into November/December) but the growth I don't think is over. I am confident enough of that to keep hold of my metals but not so confident that I am still buying at these prices.

There is just so much instability at the moment. Everything from the US election and events more generally in the US, the worldwide economy being falsely propped up more than ever, Covid still affecting so much, etc, etc.

Ultimately @Shamatti your situation sounds like its forcing your hand so in that sense it isn't really relavant what the metals do moving forward. If the choice for me came down to a winter in a leaky van or selling my metals they would be gone without hesitation. One shouldn't sacrifice quality of life and potentially health to speculate with shiny things.

[sovereignsteve]

If you have to sell before winter for sure, then I'd sell some now and space out the rest between now and the day you have to be totally liquidated.

Nobody can be sure which way it will go over the next couple of months, although as this is TSF, most here will be convinced the only way is upward long term.

[Kman]

PMs seem teetering on the edge atm

If you have to sell before winter I would do it now, any move up from here seems like it would be much smaller than a move down, risk to reward isn't really there

But who knows 

[Shamatti]

Thank you people very interesting reading. I think I agree with the thoguht that prices will effectively go sideways more than up for the rest of the year. And we will see more gains after that. I am just trying to figure out how much of a difference it would make to me both financially, and personally, if I delayed. I have money coming in from other places too, which will also invilve delays while paperwork is done and funds are transfered. To be honest I may be being a little optimistic thinking I could be in a new home by winter any way. But still, my life is held together entirely by ductape and optimism at the moment any way! 😂

[motorbikez]

Don't concern yourself about which way gold or silver is going. You have a fairly immediate need so sell now. You can guarantee if you mess about trying to squeeze a few more £s out of your PMs it will go against you. A bird in the hand etc comes to mind.

[Rll1288]

Look at the contracts in December... GOLD $2500 by then :-).. fingers crossed.. agree with @motorbikez sometimes the needs are more urgent 

[CadmiumGreen]

Agree with above...Maslow’s hierarchy of needs comes to mind...you need to take care of yourself and safety first and foremost. Esteem needs, which would include PMs, in my opinion are a ways off from your basic needs. It looks like we are sideways with prices and they are still at all time highs comparatively. Take care, and we will still be here for belongingness.😄

[RacerCool]

4 hours ago, CadmiumGreen said:

Agree with above...Maslow’s hierarchy of needs comes to mind...you need to take care of yourself and safety first and foremost. Esteem needs, which would include PMs, in my opinion are a ways off from your basic needs. It looks like we are sideways with prices and they are still at all time highs comparatively. Take care, and we will still be here for belongingness.😄

For some of us PMs are part of the second tier, Safety needs. Economic safety, that is. A hedge or a protection of assets.

[Shamatti]

7 hours ago, RacerCool said:

For some of us PMs are part of the second tier, Safety needs. Economic safety, that is. A hedge or a protection of assets.

 

That was certainbly the case for me. And it is turning out that my liittle 'nest egg' has come to my rescue just when I needed it!