Agreed, everyone has different expectations and operates on different timelines. I'm not even a gold bug but have been long/hedged and pyramiding in several funds. Adding miners now.Bought physical in 2003. To me it's an obvious long term trend that will march on for the next decade. We'll have dips and some scares but the path leads upward.
Short term, anything can happen. CB's could decide to dump another 50 tons of gold to drive the price down. Who is to say that the SWF's and other CB's won't be happy to trade in some of their US dollars for that gold? That is what's been happening, and each time the bidding is a bit higher than the last. In the last year, Dollar reserves, as a percentage of total, went from 65% to 63%. At the same time, gold went up 27% in Dollar terms. I think there will be more reductions in Dollar reserves, to a level befitting of a nation that has a 6% trade deficit and $9 trillion in debt, and still runs huge deficits, pretending that "off budget " numbers don't matter, any more than the entitlement promises paid for in advance by citizens, but unaccounted for on government books. I think that will eventually cause more investors to see gold as a safer store of value than dollars.
What says you Elitefaders!!! Gold dumping down today by 4 bits!! Dont walk away from this thread silent. I want answers from you now. Your mattress loaded full of gold bullion and ready for the world to end. This is for those who want to listen, learn and believe. Gold is headed for a MAJOR price collapse. I cant say this any stronger. Lets do it in caps. GOLD IS HEADED FOR A MAJOR PRICE COLLAPSE!!! The price collapse is hear, its now...Lets hear from the peanut gallery who has their mattress stuffed with gold bullion. Bend over and lemmmeee hear ya! GOOLLLDDDD!!!! BWAAAHHH!!!!
gold could easily bounce back higher over the new yrs holiday one problem has been the thin trade .... this past week in my opinon .... but 2008 starts a new playbook for many folks