Confused and need help

[sixgun]

Well it doesn't look like this chap got any reasoned advice, just another episode of the Naughty Boys' Step.

Elliott Wave is based on observed group psychology and that it moves it 5 waves. i have seen EW charts plotted and reinterpreted and reinterpret to fit - why aren't all the EW experts billionaires?
If you say EW works and that gold is going to $1000 very soon - then i am not sure why you are asking the question about the gold price - you will be in cash waiting for the collapse of the gold market. 

Gold hasn't been at $1000 since 2007. We have had off the wall QE expansion in money supply since then. The inflation has sent every fiat down the pan. The Western financial system could fold at any point. Two military super powers are locked in a proxy war in Ukraine. Russia is now escalating the conflict. We see an energy crisis in Europe and riots around the world as a consequence of shortages.
The price fixing grip of the COMEX and the LBMA on the precious metals markets is being broken - Russia is opening a global gold exchange - The Shanghai gold exchange is being used to arb many tonnes of gold out of the West. China/Russia have the gold - many times more than the amounts claimed by the bankrupt Empire of Chaos. He who has the gold makes the rules. There are other gold trading centres being set up. The BRICS will have their commodity backed currency. The world is de-dollarising by the day. 

Why would gold go to $1000? 
The fundamentals are very strong for gold. Accepted the paper price, the dot on a screen could go to zero but like in the March 2020 crash, especially the silver crash, the paper price went to $11 but for those paying close attention they noticed that very quickly the price of real physical silver went shooting up, many US dealers were sold out. i do not see gold falling significantly and certainly not to $1000 - if the dot on a screen fell you wouldn't be able to buy gold at anything like that price. If something mad like that happened it would be part of a fiat collapse against the USD and certainly our GBP members would be struggling. But whatever you wouldn't be able to buy physical. Physical would be sucked up that hard it would be worse than a whore on double time. 

The usual advice from the old timers is to start buying and keep buying - buy when you see a decent deal - buy in bits - a price averaging drip drip process. 

[Ukbullionfan]

Bring back big brother and put @LawrenceChard in there. Would be worth the watch. Who agrees ? Lol

Edited September 12, 2022 by Ukbullionfan

[Arganto]

5 hours ago, sixgun said:

Physical would be sucked up that hard it would be worse than a whore on double time. 

A neat analysis @sixgun, and an honest response to the OP. It seems the Naughty Step vernacular has crept in though, it seems to have afflicted many of us 😉

[SidS]

6 hours ago, sixgun said:

Physical would be sucked up that hard it would be worse than a whore on double time.

Very succinctly put, almost poetic. 😉

[MonkeysUncle]

20 hours ago, LawrenceChard said:

Lastly "There's a guy works down the chip shop swears he's Elvis"

😎

I've stopped doing that now. I'm having a turn as Shirley Bassey now.

And forget this gold c**p, diamonds are forever!

[MonkeysUncle]

19 hours ago, Pete said:

Gold falling to $1000 is about as likely as the high rise buildings of Dubai falling into the sea.

If Persimmon built them then I'd best offload my coins sharpish then....

[MonkeysUncle]

I respectfully need to correct the Right Honourable Member for Blackpool over the use of the phrase " Hartlepool United Supporters Trust"

The learned gentleman incorrectly added a second "s" in the name of the trust.

There is only one supporter, Lord Jeff of Stelling!

 

[MonkeysUncle]

As for gold advice for the OP.

Tap Gordon Brown for advice. Then do the exact opposite...

[modofantasma]

22 hours ago, Souldancee said:

it is hard to choose which way to go, and I dont under stand why would someone Pushes you to Buy and at the same time some one else Push you away from gold.

 

I would appreciate if some one can have a simple explanation.

Once upon a time, a shoe company sent two salesmen to Africa to determine the market potential for their products. Both the salesmen completed a basic survey of the target market and called back to the office. The first salesman sent to Africa reported: “No one here wears any shoes, there is no market for us here!”. The other salesman sent a message “No one here wears any shoes, there is a huge market for us, send inventory fast!”.

[LawrenceChard]

3 hours ago, Ukbullionfan said:

Bring back big brother and put @LawrenceChard in there. Would be worth the watch. Who agrees ? Lol

What have I done now?

😎

[dicker]

My honest advice is to take a 5 min look at the big macro economic trends and make a call.

A 13 year old can do it - it’s honestly not that hard.  Inflation, printing money etc etc Then make a call.

Banks have manipulated all sorts of instruments….the reason? They cannot accurately predict the future.  Hence most talk of waves etc should be taken with extreme scepticism.

I would go for cost price averaging and steering clear of proofs at the start of your journey.

best

Dicker

[SidS]

I'd steer clear of bankers 

Edited September 12, 2022 by SidS

[James32]

Just now, SidS said:

I'd steer clear or bakers 

No buns?

[SidS]

10 minutes ago, James32 said:

No buns?

Ha! Darn autotype! Always changing it to food. I'd steer clear of bakers too... started the Great Fire of London iirc.

[MonkeysUncle]

5 minutes ago, SidS said:

Ha! Darn autotype! Always changing it to food. I'd steer clear of bakers too... started the Great Fire of London iirc.

I saw Doctor Who, that was the Cybermen. They are amongst us: see Theresa May for details...

More advice for OP. Dodge the gold and buy 7 to 10 year Treasury Bonds. Unless you think I'm in the same camp as Gordon Brown! 🤯

[KevinFlynn]

On 11/09/2022 at 22:24, Souldancee said:

... gold is in a fifth correction wave and it will crash to 1000 $ ...

If it does, I'll be buying...

The last time I bought gold as low as that is more than ten years in the past.

My suggestion: read through the forums, put more trust in the experience of the posters than in technical analysis.

Buy gold for stability, not for speculation, don't go all in, get a feeling for it.

[Darr3nG]

2 hours ago, KevinFlynn said:

don't go all in

now you tell me!

[James32]

1 minute ago, Darr3nG said:

now you tell me!

Was thinking the same thing earlier..bit late now oops 😬 if I go down,  I went down as fast as I could 😅 

[Stuntman]

Are we talking about that whore again?