Gold price drops

[Captain PopTop]

save your finds to sell at another time I read on the internet today the price of Gold dropped 4% and may drop even more, time will tell H.H. capt.

 

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[Native Floridian]

Yup! Low inflation means you don't need an inflation hedge. Mixed with the non news from Cyprus eariler this week and Gold had a bad week.

Does that mean you should hold onto you gold finds to sell at another time? Probabaly not. Gold, like all commodities is unpredicible in price. Next year it could be $1900 an ounce or $1100. No way to know. And, with the future being unknowable it is better, with short term assets, to have the bird in hand, so to speak. That is, if you are not a long term holder of the asset, be it Gold or any other asset, the best day to sell it is today. If you don't sell you end up playing a game. A trap! That is, if the price goes up, you will wait until it goes up more. Greed has a way of doing that. Worse, if the price goes down, you now play get evenitis. That is, you don't want to admit you screwed up by not selling so you wait in hopes the price recovers. If Gold is in a long term down trend that could be a long and expensive wait.

Selling today is a form of risk management. You don't have to remake what you don't lose.

The message is simple - what you found was a gift, take it and run. Or, put it in a safe place and forget you own it.

One other point to be made is that finding a reliable source to sell your Gold will have more of an impact on your returns than the day to day pricing.

 

[Peyton Manning]

well if kruggerands get to $300 again I'm gonna buy a bunch! This time I have some cash.

 

[Tony in FL]

Look at it on the bright side - lower gold prices could mean less hunters at the beach as well as more people buying (and then losing) gold jewelry as it becomes more affordable.

 

[Acquisitor]

gold has broken a multi year support line :/
$1300 or so is coming, soon.

 

[hamiddetecting]

The gold will be increase 2000$

 

[Peyton Manning]

hmmm, whom to put my trust in?

 

[hamiddetecting]

I'm sure of that Politic economic

 

[lookindown]

The price of gold is either going to go up or down...I guarantee it.

 

[Native Floridian]

hmmm, whom to put my trust in?

Jeff, that's always a good question! For our purposes, treasure hunting, really it's more common sense than trust. It's not like we have hundreds of thousands of dollars on the line. We usually are talking hundreds, not thousands. We start with nothing, and then find something of value. Some of us have no intention of ever selling, so the item's current worth doesn't matter. For those who are going to sell, the commodity price changing say 10 or 20% shouldn't matter as well. I mean really does it matter if you get only $270 for your gift find rather than $300? Not really!

And, again the biggest factor in selling Gold for melt is the percentage of current market value you receive. That has a far bigger impact on your pocket than the the commodity's day to day pricing.

 

[dewcon4414]

Any way you look at it ..... you are getting 100% return on your finds. Odd.... we follow gold and panic but believe our paper money is worth its face value and complain about food and every thing going up. Unfortunately, detecting has been noticed as an activity to be enjoyed on the beach now. The best we can hope for is people continue to say im not going to pay that much for a detector and keep using their golf swing.

Dew

 

[Native Floridian]

Dew, well said!!!!!

 

[Acquisitor]

The gold will be increase 2000$

not anytime soon.

there is tremendous short interest on gold and now that the multiyear support line has fallen, the bears will want to ride the price down to capitalize on their gains.

look down below in the near future. $1200 is possible.

 

[Harold in Fla.]

I remember when gold was alot lower, and years back thought well it's never to get high and then bam it was up to 500 an ounce, and who ever thought it would be almost up to 2000 an ounce, now it's droping it's still higher than it's ever been, so be happy at what it is right now, like Dew said we are making a 100% right now, HH people

 

[ron lord]

It doesn't matter how low Gold drop. You are going to make 100% profit off your finds !!

 

[snooksion]

im willing to bet you will see gold at $3000 + within the next 5years

 

[snooksion]

and maybe even top out at $7000 an ounce

 

[Peyton Manning]

im willing to bet you will see gold at $3000 + within the next 5years

yeah like we will know where you are in 5 years.
what's it gonna do in the next 6 months?

 

[bigscoop]

And to think we all got excited when gold topped $400 an ounce. Yes, I remember that well, I have the nightmare every time I think back to the day when I sold quite a large collection at $385 an ounce and thought I was making out like a bandit.

I have my doubts that we won't see another run on gold in the next few years, the world economy obviously not being near what they say it is and the threat upon the U.S. dollar continuing to climb. As it stands right now the dollar is still the world currency but that could soon start to take on change. Only time will tell. In the mean time, swing and dig, swing and dig.

 

[ron lord]

Kitco say Gold will be as high as $2600 Per Oz. by the end of 2014. Gold, Silver, Gold Price, Silver Price, Gold Rate, Gold News | Kitco