I understand the idea but in this case the only reason gold has to go down is manipulation and if we believe Q is behind the scenes putting an end to this sort of stuff I wouldn't be waiting to buy something which is obviously due to go up in value.
Could it really be a hedge against inflation and then go down in price by any meaningful amount just after huge money printing?
I don't think so. My conclusion--don't wait to buy too long, as the only logical place for the price to go is up.
Edit: I should have been clearer. I didn't mean only reason. As pointed out below selling pressure could influence the price as could manipulation and perhaps a few other small reasons. I just don't think these reasons are enough to risk waiting for the price to go down when it's quite likely that it'll go up a lot in the near future and you could miss the boat.
You don’t think the supply for people taking profit at the recent all time high would cause price to move lower even temporarily...!? The market does correct and pull back and I would guess if the market recently made and all time high you would be selling increasing the supply which would cause the price move lower.
Yes I have considered that but what I said was; I don't see how it could go down 'by any meaningful amount'. Granted it's just my opinion without having gone over heaps of data but I don't think any of the bigtime gold/silver holders would be selling right now. I think it'd be a bad idea to do so, the inference being that the selling pressure isn't that widespread and you'd be risking too much for too little trying to buy in later when this thing could explode at any moment.
It’s already come 220$ off the all time high and it appears price is currently below previous support of around 1,820 if it stays below I would expect and extension even lower while price Looks for a bottom I could be wrong but I don’t catch falling knives I’ve been doing this to long and know how to time the market correctly and to me this is getting in to premature when you could probably buy in much lower patience is a virtue I could be wrong but keep some money on the side incase it does so you can dollar cost average down from your original entry becuase you probably won’t be in profit or make any money for awhile if you buy now and it drops price will have to come all the way back up to previous all time highs and make a new one for you to make any money you could be stuck bag holding for awhile if you fuck up.
I understand the idea but in this case the only reason gold has to go down is manipulation and if we believe Q is behind the scenes putting an end to this sort of stuff I wouldn't be waiting to buy something which is obviously due to go up in value. Could it really be a hedge against inflation and then go down in price by any meaningful amount just after huge money printing? I don't think so. My conclusion--don't wait to buy too long, as the only logical place for the price to go is up.
Edit: I should have been clearer. I didn't mean only reason. As pointed out below selling pressure could influence the price as could manipulation and perhaps a few other small reasons. I just don't think these reasons are enough to risk waiting for the price to go down when it's quite likely that it'll go up a lot in the near future and you could miss the boat.
You don’t think the supply for people taking profit at the recent all time high would cause price to move lower even temporarily...!? The market does correct and pull back and I would guess if the market recently made and all time high you would be selling increasing the supply which would cause the price move lower.
Yes I have considered that but what I said was; I don't see how it could go down 'by any meaningful amount'. Granted it's just my opinion without having gone over heaps of data but I don't think any of the bigtime gold/silver holders would be selling right now. I think it'd be a bad idea to do so, the inference being that the selling pressure isn't that widespread and you'd be risking too much for too little trying to buy in later when this thing could explode at any moment.
It’s already come 220$ off the all time high and it appears price is currently below previous support of around 1,820 if it stays below I would expect and extension even lower while price Looks for a bottom I could be wrong but I don’t catch falling knives I’ve been doing this to long and know how to time the market correctly and to me this is getting in to premature when you could probably buy in much lower patience is a virtue I could be wrong but keep some money on the side incase it does so you can dollar cost average down from your original entry becuase you probably won’t be in profit or make any money for awhile if you buy now and it drops price will have to come all the way back up to previous all time highs and make a new one for you to make any money you could be stuck bag holding for awhile if you fuck up.
Thanks for the word of caution. You may well be right! In the end we'll see I guess.