Originally posted by DealorNoDeal
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stock market crash
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"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
Here's a different analysis
Gold is priced in dollars, what are dollars? How scarce are dollar now and in the near future?
Here's the M1 money supply.
M1 Money Stock (M1) | FRED | St. Louis Fed
Gold prices have been on a bull market since 2018 (the 5 years before that it was mostly range bound).
Here's an article at the start of this year (pre USA caring about Covid-19), talking about gold being overbought, they still expect $1300/oz
Gold rises to highest since mid-2018 on global growth woes
Now we are now at over $1900/oz
Would I start buying gold now or increasing my position in it?
No I wouldn't. The price is well above the production costs, the price of all the recent emergency money printing is already priced in.First Law of Contracting: Only the strong surviveComment
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What would be your argument then? I see your links.. are you saying US money supply is inherent to the price of gold? What about all the other currencies of the world?
Be careful not to a News article in any part of ones analysis.
I'd argue gold has been in a bull market since 2000."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostWhat would be your argument then? I see your links.. are you saying US money supply is inherent to the price of gold? What about all the other currencies of the world?
Be careful not to a News article in any part of ones analysis.
I'd argue gold has been in a bull market since 2000.
I'm not here to defend my views, nor give advice, nor promote myself as some kind of guru.
My only point is that gold has many drivers of price, price is in USD. What happens to USD affects the price of gold.
DYORFirst Law of Contracting: Only the strong surviveComment
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Originally posted by _V_ View PostI don't argue, I make my own analysis, decide entry points, monitor my decisions and act accordingly.
I'm not here to defend my views, nor give advice, nor promote myself as some kind of guru.
My only point is that gold has many drivers of price, price is in USD. What happens to USD affects the price of gold.
DYOR
Agree, gold price action has many drives, by far the biggest at this moment in time is the narrative there is nothing more valuable to protect your wealth, not even skilled labour. Extraordinary times."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostI'd argue gold has been in a bull market since 2000.
But whatever.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Of course technically this is true. Entered a technical bear market around 2011. However there was no re-test of the mean of the previous bull market. Throughout Gold's history the mean was always tested, now we're further away from it than ever."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostOf course technically this is true. Entered a technical bear market around 2011. However there was no re-test of the mean of the previous bull market. Throughout Gold's history the mean was always tested, now we're further away from it than ever.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by Whorty View PostHmmm, you really don't like it when someone has a different view to you do you, or they make money on something you didn't make anything on?
For the record, this isn't "Whorty says so", this is what is happening. If you can't or don't want to see it too then fine. Not my problem.Old Greg - In search of acceptance since Mar 2007. Hoping each leap will be his last.Comment
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Originally posted by Zigenare View PostOh, the ironing!
Edit: loving how BR14 likes all your postsSays as much about him as it does about you.
Last edited by Whorty; 12 October 2020, 08:26.I am what I drink, and I'm a bitter manComment
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