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Buying Opportunity This Week?

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When the U.S debt ceiling is raised this week how far do people expect Gold and Silver to fall by?

I expect Gold to go down to around $1550 and Silver to fall below $34.

This could be the last leg down before a steady uptrend as investors realise that the debt problems aren't going away.

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Here's hoping. However, it won't last long. No-one believes the debt problem is going to be fixed by allowing the USA to spend more; a bit like giving a heavily indebted person another credit card. I work in the fringes of financial services and I've seen what people do when they are cut some slack by the banks. A few regard it as a chance to clear the debt, others just max out the new line of credit like the others, and that's the USA in a nutshell. (The government, not the people).

I was incredibly lucky with the last dip, but even so, the silver still wasn't cheap, it was just relatively good value for money. I don't think there will ever be another "Brown Bottom" in silver the way there was in gold. It won't happen, but what if they don't agree to raise the debt ceiling? There will be pictures of rockets on this site within a day. The Chinese will get the Yuan as the new reserve currency, unless the New World Order goes straight for the one-world currency. Either way, holders of g&s just can't lose.

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How long for the rich tax dodgers if the salaries of the US grunt or the police go unpaid whilst the minimal existing welfare provision for the 9% (official) unemployed ends?

Gold might well buy a few weeks private security, I suppose, providing you stay in most of the time. We may see if a bit of applied Ayn Rand goes as the great intellects of the right believe it would. Bond rates up whatever happens now. Need a good sigh of relief from the stock market in reaction to any bailout for gold to fall much though. Wish I had some

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Well the buying opportunity lasted just a few hours. Gold pushing £1000 again now.

Give it time. The agreement hasn't passed the House yet. We will also need time for the credit rating agency downgrade threat to go away.

Q

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When the U.S debt ceiling is raised this week how far do people expect Gold and Silver to fall by?

I expect Gold to go down to around $1550 and Silver to fall below $34.

This could be the last leg down before a steady uptrend as investors realise that the debt problems aren't going away.

Shows what I know!

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You missed the boat. Markets price in future expectations. The Us deal was expected ever since the party leaders agreed. The correction was about half a percent briefly on Monday morning.

I bought my first lot of gold last week, if it had corrected I'd have bought more. Not sure what to do now.

Edited by Pent Up

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I too thought there would be a pullback and was ready to reload.

If you look at the gold price over the last year or two, it has gone up, but it has traded within a very defined range peaks and troughs along that trend line.

This (surely?) is likely to continue, as there will always be:

- People who think this is the end of the run, and want to sell

- Trading bots and people like us who watch the trading ranges and buy/sell within them

If the gold price really is going only one way - with no 5-10% pullbacks, then we've reached the parabolic blow-off.. hold on to your hat.

To keep going up, gold is going to need a stream of terrible news on daily basis.. the buyers have to outweigh the sellers... if there is apparent calm, for a while, then lots of people will exit the market/take their profits, and there will be a nice pullback.

That's the best we can hope for.. a fluky silence in the financial news.

The problem is the Chindians who are on the other side of the sell trades, and will keep buying in any dips.

And the army of people like us who are getting in the game, who are waiting for pullbacks to buy into them.

Oh, and don't forget the possibility of the fed/other agents attempting to crash the price to hide the miserable failure and weakness that their fiat currencies continue to show.

And July/August was meant to be a quiet month :o

Edited by sesim

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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