Gold price could fall further...


Ground Beetle
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Here, There, and Everywhere
Gold can fall further down. HSBC says it will be 1,150 $:

And they predict the weak gold price trend to continue in 2015, 2016.

Gold will be around 1,300 $ then.

I don't know if/how it will ever recover. But this is making me nervous.
Sooner or later gold will hit new highs. Maybe not this year, or next year, but sooner or later. Look what happened in 2008. Gold fell from over $1000 to about $700. Did it stay there? No. It turned around and made new highs since then. Same with the early 80s. Gold crashed to around $200 from over $800. Did it stay there? No. It recovered, albeit rather slowly.

No reason to be nervous UNLESS you BORROWED money to buy your gold. The intrinsic value of gold NEVER changes. The only thing that changes is the RUBBER yardstick that is used to peg a "value" to the gold.

Go back and review the charts and the comments on this thread. For the forseeable future there is no reason for gold to climb out of the Fall doldrums and if we have a dump, which is almost certain now, it may take months and/or years to recover.

If you view gold as INSURANCE, the cost means NOTHING. If you are trying to make a profit, then you must act like a business and buy/sell accordingly.

And to do that, the ONLY way to play ANY market is to BUY ON WEAKNESS and SELL ON STRENGTH. ANY other method is almost guaranteed to fail. The weaker the market, the more active one should be accumulating assets to sell when the market recovers. The only downside is that it is easy to run out of money before markets turn around. So, usually the best method is to buy some on every dip all the way down, then sell some on every peak all the way up.

Bottom line is that as gold falls, more should be bought. And the further it falls, the HAPPIER you should be. Forget about what you paid for the gold. Just remember that if you are buying for insurance, you are getting a bargain, and if you are buying to make a profit, you will eventually get rich.