Will Gold ever dip again?

[Maple Leaf Steve]

On thursday 9/1/2005 gold broke the $440 barrier and closed that day at $442.00 an ounce
The dollar closed the day at 86.72 on 9/1/2005

Now here we are 13 days later and the dollar has gotten slightly stronger at 87.35
But yet gold has went up in value to $448.00
Gold is rising against all currencies!

So I am starting to get impatient folks.
All I want is a dip to $435.00.... so that I can pop a couple Maple Leafs...
You know it may never happen.

So should I buy some Krispy Kreme Donut stock instead? NOT! LOL :laugh:

Come on Santa...
All I want is a dip to $435.00 before Christmas gets here. pleeeeeeez :smile:

MLS

[Curtman]

On thursday 9/1/2005 gold broke the $440 barrier and closed that day at $442.00 an ounce
The dollar closed the day at 86.72 on 9/1/2005

Now here we are 13 days later and the dollar has gotten slightly stronger at 87.35
But yet gold has went up in value to $448.00
Gold is rising against all currencies!

So I am starting to get impatient folks.
All I want is a dip to $435.00.... so that I can pop a couple Maple Leafs...
You know it may never happen.

So should I buy some Krispy Kreme Donut stock instead? NOT! LOL :laugh:

Come on Santa...
All I want is a dip to $435.00 before Christmas gets here. pleeeeeeez :smile:

MLS

The market is going to open on just about one hour, I think you will see both silver and gold take a dive right off like they did yesterday. Peoples faith is getting weary as far as the stock and metals are concerned. It didnt help getting the news that Chiner is just about to go independant as far as raw iron material. That has been a good mule for this econmy for a while and there really is nothing to replace it. The constrution and housing is about one more fed meeting away from making a mess all over the floor. I just don't see how greenspin can raise it but if he doesn't get ready for the recession. He trying his best to keep it together untill he retires but I don't see him making it. I am still buying silver, at least what I can. If it would just drop down to $6.50 I would see out the equity from a peice of property and buy 75% Silver and 25% gold. I know how you feel about the Gold over Silver but the points been well made that it is easier to double your money in silver than it is in Gold.

[Sparky]

So I am starting to get impatient folks.
All I want is a dip to $435.00.... so that I can pop a couple Maple Leafs...
You know it may never happen.
MLS

Geez, Steve, you seem to always have the same target as me...

If Greenspan raises next Tuesday, I think we'll get down to the low 430's before the seasonal upswing resumes. If he doesn't, we may be waiting until next spring for a pullback below $450.

[Libertarian_Guard]

Sparky

I agree! Short-term the POG hinges in anticipation of the feds next interest rate decision. It could well be that traders have already hedged their bets that Greenspan will leave interest rates unchanged and the POG is now priced accordingly. However, if Greenspan continues merrily along and notches the prime rate up another quarter point, the POG could take a sharp drubbing.

If he does the impossible at this point and cuts rates, gold would take off and stabilize in the neighborhood of $500. - - While the USD takes out last years lows…and settles below 80. All this would have too much of a destabilizing influence on the worlds markets, that’s why it isn’t going to happen.

[Maple Leaf Steve]

The Feds meet next Tuesday the 20th where Greenspan is expected to raise rates another .25%

I can tell you guys that the last time Greenspan raised rates .25% was on Tuesday 8/9/2005
On this day gold fell back only -.50¢ an ounce to $434.30
Then on the next day 8/10 gold went up +$2.30 an ounce to $436.60
Then on the next day 8/11 gold soared upward +8.70 an ounce to $445.30

The demand for gold right now is so high.... Are any Gold Bugs really paying attention to Greenspan and the Feds right now?
I don't think so.

So there ya go...

MLS

[Sparky]

MLS, the difference this time is that there is much uncertainty as to what Greenspan will do, unlike the August 9 meeting. It could be that gold's recent run from $430 to $450 is in anticipation of no rate hike. (Remember, the entire run-up was after the hurricane struck, which fueled the no-hike speculation.) If a surprise rate hike occurs, it could be a short-term blow to POG.

However, as you say, there's no stopping the upward secular trend, so a pullback should be viewed as the next chance to buy, which was the subject of your original post.

Greenspan's next move is very intriguing. Deep down he wants to keep hiking, but the admin is likely pressuring him to pause. Will he defer to them, or will he continue with his own agenda?

[Bobcat]

MLS, the difference this time is that there is much uncertainty as to what Greenspan will do, unlike the August 9 meeting. It could be that gold's recent run from $430 to $450 is in anticipation of no rate hike. (Remember, the entire run-up was after the hurricane struck, which fueled the no-hike speculation.) If a surprise rate hike occurs, it could be a short-term blow to POG.

However, as you say, there's no stopping the upward secular trend, so a pullback should be viewed as the next chance to buy, which was the subject of your original post.

Greenspan's next move is very intriguing. Deep down he wants to keep hiking, but the admin is likely pressuring him to pause. Will he defer to them, or will he continue with his own agenda?

My guess is that Katrina has given Greenspan a compelling excuse for not raising rates right now. They know rising rates are the only thing keeping the illusion of confidence in the dollar...damned either way they go.

[Maple Leaf Steve]

MLS, the difference this time is that there is much uncertainty as to what Greenspan will do, unlike the August 9 meeting. It could be that gold's recent run from $430 to $450 is in anticipation of no rate hike. (Remember, the entire run-up was after the hurricane struck, which fueled the no-hike speculation.) If a surprise rate hike occurs, it could be a short-term blow to POG.

However, as you say, there's no stopping the upward secular trend, so a pullback should be viewed as the next chance to buy, which was the subject of your original post.

Greenspan's next move is very intriguing. Deep down he wants to keep hiking, but the admin is likely pressuring him to pause. Will he defer to them, or will he continue with his own agenda?

Sparkly, this gold market is getting very interesting to say the least.

We will see what happens to the POG next week.

Lots of us Gold Bugs are waiting eagerly for a $15.00 dip in the gold market.

All I can say is... It's that time of the year when gold starts to "shoot the moon!"

Now that could change as trends don't always hold up their part of the bargain.

I've been buying gold all this year at the $415.00 to $425.00 levels

To me, to buy gold at $450.00 an ounce is unheard of right now! :laugh:

Good Luck to Everyone!

MLS