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06-16-2006, 07:19 AM
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#1
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Recycles dryer sheets
Join Date: Nov 2003
Posts: 92
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Gold Bottom?
The past few weeks have seen a brutal correction in gold.
Any thoughts on whether or not we have seen the bottom and it starts to climb again?
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06-16-2006, 09:05 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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Re: Gold Bottom?
since you asked ... my sense is that gold has been way too popular in recent months and the run-up was largely the result of the hype ... when the recent "correction" has the effect of cooling that hype (and turning the panic late buyers into panic late sellers) ... then we'll have a better idea as to a reasonable price for this and other commodities.
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06-16-2006, 12:48 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2003
Posts: 4,459
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Re: Gold Bottom?
To figure out if we're close to a bottom, just take a look at the fundamentals. Oh, wait. Gold doesn't have any fundamentals. Nevermind.
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06-16-2006, 12:56 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Posts: 2,032
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Re: Gold Bottom?
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06-16-2006, 12:58 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,005
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Re: Gold Bottom?
 Quote:
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Originally Posted by wab
To figure out if we're close to a bottom, just take a look at the fundamentals. Oh, wait. Gold doesn't have any fundamentals. Nevermind.
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That's not true! You take it back. You can make really pretty ornamental jewelry out of gold!
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06-16-2006, 02:04 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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Re: Gold Bottom?
let's ask an expert 
__________________
- Hurry! to the cliffs of insanity!
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06-16-2006, 02:23 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Posts: 2,032
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Re: Gold Bottom?
Quote:
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Originally Posted by Maddy the Turbo Beagle
let's ask an expert
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"I pitty da fool who don't think we put in a trading floor at $570 and ounce!"
Well folks, there you go. I think that answers the questions.
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06-16-2006, 04:25 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,702
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Re: Gold Bottom?
I think if you've been buying gold the last few months to get "in on the action", right about now you know what if feels like to be a bottom...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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06-16-2006, 04:49 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Aug 2005
Posts: 1,375
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Re: Gold Bottom?
Every time I see "Gold Bottom" on the FIRE and Money topic list, I hear the Spinal Tap song "Big Bottom"--gee, thanks for the earworm 
__________________
You can't always get what you want, but if you try sometimes, you might find you get what you need.
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06-16-2006, 06:42 PM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2005
Posts: 5,704
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Re: Gold Bottom?
i think we are far more likely to test 700 again than 450.00....im not even sure what gold reacts to anymore but none the less theres alot more eyes watching it and following it than ever before......
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06-16-2006, 07:19 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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Re: Gold Bottom?
Quote:
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if you've been buying gold the last few months to get "in on the action", right about now you know what if feels like to be a bottom...
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1) to be a bottom or
2) to be at a bottom or
3) to be at what one desperately is hoping to be a bottom?
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06-16-2006, 07:41 PM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,702
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Re: Gold Bottom?
#1.
$350 is next.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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06-16-2006, 08:12 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
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Re: Gold Bottom?
Quote:
as i thought.*
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06-16-2006, 08:20 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Dec 2003
Posts: 4,459
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Re: Gold Bottom?
A gold bottom would be a good thing, right?
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06-16-2006, 09:03 PM
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#15
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Dryer sheet aficionado
Join Date: Jun 2006
Posts: 27
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Re: Gold Bottom?
Quote:
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Originally Posted by johnlw
Any thoughts on whether or not we have seen the bottom and it starts to climb again?
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I might suggest a review of the term "fiat currency", the dropping of M3 coverage, and overheated printing presses.* Aside from the trite monikers of "easy Al" and "helicopter Ben" and debt, debt and more debt, just to pay the interest on the debt.* Could it be that the "rapid rise" in prices for oil and commodities, a healthy portion of which certainly is due to increased global competition for finite resources, might share the curious coincidence of being denominated in ever weaker U.S. dollars?*  Remember when the "experts" predicted a return to $40 bbl oil?*  * Speculators get trounced routinely when following the herd, both on the buy and sell sides.* Hold on to your knickers, hopefully with a couple of doubloons sewn inside.* We are have entered into interesting times.*
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06-17-2006, 09:54 AM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,702
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Re: Gold Bottom?
Quote:
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Originally Posted by wab
A gold bottom would be a good thing, right?
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Yeah, but in this case, YOU'RE wearing those. Not so pretty a picture.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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