Gold selloff

[lamboguy]

It looks like the IMF (international monetary fund) has allowed some gold selling at this point, therefore the sharp selloff yesterday. They have had a history of selling at the wrong time thru the years. last major selloff was England in 1999 when gold was less than $250 per ounce.

The Euro has been a little weak lately vs. the us dollar. Political hope in the united states for lower oil prices and stronger dollar seems to be going out the window with unlikely chances of Clinton's getting back in the white house.

I beleive the dollar which is now 76 is going to down to 50 no matter which canditate wins the office except for clinton. that would corelate into a gold price of around $1700 or even higher within the first 2 years of a new administration.

Between the Bush tax cuts and refinanceing, revenues have grown and kept pace with budget, except for raise in spending. Congress just ok'd a supposedly consumer bailout to boost the economy. in my opinion it is only a band aid. lenders are in alot bigger trouble now than what we even know, due to massive derivetive exposure. The US government cannot alow them to fail!

If need be the printing presses will be going 25 hours a day

[skate]

The only driving point is the Media, nothing else. The media could be correct, but i doubt that.

Gold is a very poor investment, while the Dollar and the Market are very very strong investments, as is realestate.
The Media is on your side, selling you down the river. and the figures are on my side.

Time will tell.:cool:


IMO, your wrong.

[lamboguy]

i like the market here to the s+p 1419. but unless you are great at picking individual equities you will wind up behind teh 8 ball. if dow goes to 15k, while dollar is sure to drop into the 60's what have you really gained. if gold makes it to $1200 you have now overcome the depreciation in value of the dollar and make a profit to boot, not to mention the safety you have in owning the physical metal.

[chickenhead]

gold is not an investment in the good sense of the word. It's a store of wealth...wealth is not created by holding it, or owning it.

[skate]

i like the market here to the s+p 1419. but unless you are great at picking individual equities you will wind up behind teh 8 ball. if dow goes to 15k, while dollar is sure to drop into the 60's what have you really gained. if gold makes it to $1200 you have now overcome the depreciation in value of the dollar and make a profit to boot, not to mention the safety you have in owning the physical metal.

Boy oh boy, i saw Chichinlittle posting and figured "trouble";) , wrong was me.

and i agree with the Chick...

No big deal with the-skate here, but i know a lot of prospectors (mostly gold)in Cali.,Or.,AK, these guys are very good at what they do, mine for gold.

Except when they have a Benifit or interest, they Hold the Gold, always (for the most part). doesn't matter if the gold goes up or down, they just hold. it's security to an exten... t.

but to invest for growth (gold) it would require more on luck. While the market is automatic, never goes down.
And, nothing wrong and usually good to see the dollar going down.

But, this just gives me wind, you might be correct.