Welcome Guest [Log In] [Register]
We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Apparently now is not a good time to buy gold; Some think it hasn't bottomed out
Topic Started: Jan 1 2014, 02:53 AM (67 Views)
Banandangees
Member Avatar
Fire & Ice Senior Diplomat
[ * ]

Avoid Gold

The last correction took 20 years

Quote:
 
After gaining more than 700% in the decade following the 9/11 Terrorists attacks, Gold (GLD) has since fallen about 40% from the all time high it hit 15 months ago, with most of that happening in 2013. In fact, the last 12 months have been the second most bruising period for the metal in over a century, bested only by the 32% slump of 1981.

This type of decline is not only rare, but tempting, as many bottom-fishing investors are starting see value in gold, although David Nelson, chief strategist at Belpointe Advisors is not one of them.

“I can’t find a lot of reasons to like gold,” Nelson says in the attached video, citing three reasons for his continued caution.


According to Harry Dent (who occasionally predicts the market is about to crash.. the one he predicted for 2013 didn't happen) on one of the Direct TV financial stations this morning, was predicting gold to return to around $700 in 2014 along with a market crash. He gave it a "Mark my words" warning.
Offline Profile Quote Post Goto Top
 
Mountainrivers
Member Avatar
Fire & Ice Senior Diplomat
[ * ]
Banandangees
Jan 1 2014, 02:53 AM
Avoid Gold

The last correction took 20 years

Quote:
 
After gaining more than 700% in the decade following the 9/11 Terrorists attacks, Gold (GLD) has since fallen about 40% from the all time high it hit 15 months ago, with most of that happening in 2013. In fact, the last 12 months have been the second most bruising period for the metal in over a century, bested only by the 32% slump of 1981.

This type of decline is not only rare, but tempting, as many bottom-fishing investors are starting see value in gold, although David Nelson, chief strategist at Belpointe Advisors is not one of them.

“I can’t find a lot of reasons to like gold,” Nelson says in the attached video, citing three reasons for his continued caution.


According to Harry Dent (who occasionally predicts the market is about to crash.. the one he predicted for 2013 didn't happen) on one of the Direct TV financial stations this morning, was predicting gold to return to around $700 in 2014 along with a market crash. He gave it a "Mark my words" warning.
I heard something similar this morning on CNBC, but the guy didn't say he thought it would go that low. If inflation picks up gold could see a rebound, although I don't know why.
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
ZetaBoards gives you all the tools to create a successful discussion community.
Learn More · Register for Free
« Previous Topic · Fire And Ice General Discussion · Next Topic »
Add Reply

Website Traffic Analysis