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Gold and Silver Falling like a rock where will it stop?

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Gold and Silver are falling, lots of people I know are panic selling their holdings. Where will this stop. As for my personnal feelings on this I hope it contuines to fall to lows not seen in years. Id love to see gold again below 300.00 a oz (Getting to that level could just be a dream). As you can guess I dont own alot of Gold and I could start buying Gold again.

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Last week HSBC had a prediction that it would hit 1300 by the end of the year. That started things in motion and then the Bank of Cyprus is reported to have dumped tonnes into the market to fund their banks bailouts. I don't believe you will ever see $300 again, but under $1K could definitely a possibility before it starts to pick up.

 

And then you factor in North Korea - could be a real game changer.

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Last week HSBC had a prediction that it would hit 1300 by the end of the year. That started things in motion and then the Bank of Cyprus is reported to have dumped tonnes into the market to fund their banks bailouts. I don't believe you will ever see $300 again, but under $1K could definitely a possibility before it starts to pick up.

 

And then you factor in North Korea - could be a real game changer.

 

Do they have a lot of gold? Or is it just the threatenings and instability?

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As long as they settle down to a sane couple numbers again so that the intrinsic value doesn't overwhelm the collector's value anymore--I never considered $1600/oz to be a realistic price for gold and am amazed it lasted as long as it did. I'd love to see $300 again, but I don't realistically expect it. $800 is possible. $500 would be a real win.

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The decline in price will be short. I doubt gold will go below 1000 and I doubt you'll see much more downward movement in silver. I think there are too many buyers for silver at the current price levels and anything in the 20 oz neighborhood will add a significant number of "new" buyers to the herd. IMHO ---

 

(Maybe I should buy some silver. I sold most of mine when it was near 40 oz.)..

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Gold and Silver are falling, lots of people I know are panic selling their holdings. Where will this stop. As for my personnal feelings on this I hope it contuines to fall to lows not seen in years. Id love to see gold again below 300.00 a oz (Getting to that level could just be a dream). As you can guess I dont own alot of Gold and I could start buying Gold again.

 

I think you'd need to be able to correctly model irrational, group think and reaction to accurately predict price fluctuations.

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Would love to see gold at $300 again, but this would mean that gold prices depreciate about five times than what they are now. This is not quite likely to happen.

In the recent price plunge, gold dropped to about one and a half times nearing to $1,300 an ounce. The bargain hunters or those who buy on the dips bought physical gold at a record level, and reduced further possibilities of price decline.

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well all of this price dropping we can point to our fine goverment and banking leaders. It was released that Bank of America and JP Morgan had 5 million shares shorted against paper silver. These shares where sold off in an overnight trading session. 1 huge short against the market. What wasn't released until much later was they had 50 million shorted against silver and 100 million on gold. This action was designed by the Fed to scare peaple out of metals. Some peaple have gotton scared and sold off ( some at a loss again just like the market drop) to place the money back into the market. This action would allow the Sideliners to pickup the tab so the Fed can get out off the 85 million dollar a month market feeding they have been doing. Sounds like a great goverment we have no ?? Btw the US mint has been out of silver < no Eagle production 3 times this year>. They are on pace to sell more Eagles then ever. Somewhere in the 45 million oz range. I have not been stacking any more Eagles, I have been purchasing private mint rounds. Usually 2$ over spot vs 3-4$ for Eagles. I refuse to pay the higher surcharges, when the goverment has done everything in its power to ruin our chances of retaining true wealth. And btw the Silver mine in Utah that colapsed in May only was mining 18-22% of the silver used by the US market. Hmm sounds like silver should be down. Its all control. Stack as much as you can as fast as you can. Dont hope for the best, Just prepare better for it. :read:

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I just heard Dr. Ron Paul and even he says that gold is going to up and higher with every passing day. Look at the world economy; it seems to have completely wound up despite so many efforts. Gold has only seen a rising over last 12 years, and it will still be. This time will pass too.

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I agree with HarveyJMartha. Btw, both gold and silver prices rose today.

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