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Thread: Do you think gold will go under 2300$ usd / oz

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08-04-2024, 07:51 AM
#1

Do you think gold will go under 2300$ usd / oz

Stock market dipping. Bitcoin down, but its always extremely volatile. Miscer consensus is real estate wont dip.

Daddy Jerome didnt drop rates.

Im in a gold short , but feel like I have bad timing on it.

Commodity brahs, plz share opinions
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08-04-2024, 07:55 AM
#2
This is not the time to gamble, you either go long on something or stay on the sidelines.
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08-04-2024, 08:04 AM
#3
Originally Posted By ymer⏩
This is not the time to gamble, you either go long on something or stay on the sidelines.
This. I have a heavy part of my portfolio on gold and silver. I'm way up though and it's all physical. Not sure why you're in a gold short.

The gold and silver market day to day makes little sense tbh. Long term it will keep going up that's for sure. People run to assets.

Short term? These days who knows. Too much manipulation
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08-04-2024, 08:10 AM
#4
i bought 120g when it was $1600
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08-04-2024, 08:39 AM
#5
fundemental or techincal?
also the wars in the ass
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08-04-2024, 08:43 AM
#6
Originally Posted By DeadlyStriker⏩
This. I have a heavy part of my portfolio on gold and silver. I'm way up though and it's all physical. Not sure why you're in a gold short.

The gold and silver market day to day makes little sense tbh. Long term it will keep going up that's for sure. People run to assets.

Short term? These days who knows. Too much manipulation
Thanks, just wanted opinions. China was buying tonnes of physical then stopped, gold was dipping but it just shot up over isreal bombing lebanon and Iran.

I don't agree with only taking longs, but yes the commodities will rise long term
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08-04-2024, 08:48 AM
#7
Originally Posted By Kiop⏩
fundemental or techincal?
also the wars in the ass
Was going to say technical, but thought about it and want to say fundamentally, do you think its likely to dip below that?

Or do you think with m2 being as high as it is, its stuck.

I know the bombings wars and china buying up is making the market a bit wild
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08-04-2024, 09:15 AM
#8
Originally Posted By princekoko⏩
Thanks, just wanted opinions. China was buying tonnes of physical then stopped, gold was dipping but it just shot up over isreal bombing lebanon and Iran.

I don't agree with only taking longs, but yes the commodities will rise long term
Yea I think China stopped buying short term because of the higher spot price right now.

I don't even see gold taking anymore huge hits from here. The wars, the upcoming drop in interest rates starting in Sept. Should slowly keep rising. I mean we also just added 127 BILLION dollars of debt overnight into our national debt which is over 35 trillion now.

I am only taking longs on gold and silver and have been since 2021.
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08-04-2024, 09:24 AM
#9
Originally Posted By DeadlyStriker⏩
Yea I think China stopped buying short term because of the higher spot price right now.

I don't even see gold taking anymore huge hits from here. The wars, the upcoming drop in interest rates starting in Sept. Should slowly keep rising. I mean we also just added 127 BILLION dollars of debt overnight into our national debt which is over 35 trillion now.

I am only taking longs on gold and silver and have been since 2021.
Looks like ill have to take the short in the ass at this point, I agree with what you are saying
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08-04-2024, 09:30 AM
#10
Gold has been valuable for 5k years, buy long, physical only or it’s over. It’s not the best investment but you definitely need to hold some, especially with a 15% annual debasement of USD funny money (and it’s worse in other countries).

That said, if the S&P eats sht hard, which it inevitably will before recovering, expect a gold dump as well, but gold will likely recover faster too
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08-04-2024, 09:50 AM
#11
Originally Posted By ThatGuy950⏩
Gold has been valuable for 5k years, buy long, physical only or it’s over. It’s not the best investment but you definitely need to hold some, especially with a 15% annual debasement of USD funny money (and it’s worse in other countries).

That said, if the S&P eats sht hard, which it inevitably will before recovering, expect a gold dump as well, but gold will likely recover faster too
I agree with what you're saying and understand. I dont know if it is possible for it to drop 10% though
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