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Re: Gold OutlookThank you very much for your detailed analysis. It is greatly appreciated. Nonetheless, in reading your post I keep going back to the things that have changed since the 70's. By the way and before I start, let me say that I first got involved with the market in 1977. I was working for a company pushing Gold. At the time I started, Gold was at $194 and when I left that company to go to work for Merrill Lynch 3 years later, Gold was at $820 and all my clients had made tons of profit. I was a great believer in Gold as it was the one product that made me a lot of money when I first got into the market. Having said that, there are several things that have changed from 1970, starting with the fact that in the 70's there were no cryptocurrencies and therefore the decision was simple, Gold, Bonds, or stocks. That is no longer the case as Crytocurriences have replaced Gold in the minds of many people. This has absolutely nothing to do with recession and the factors that apply when a recession is occurring. In addition to cryptocurrencies, technology has advanced 100 fold and that too affects where money goes to when a recession is occurring. Simply stated, one can no longer go back on history to determine what is to happen now. In addition, I have been trading Gold now and again for the past 2 years and a lot of the factors (both in benefit of Gold rising and dropping) have changed. Gold has not been acting like it did before in the 70's. I can't specifically point a finger to what is the reason for it but the fact it has gone on for the past 2 years (more specifically this year) is very confusing and confusion is not a good basis for people investing in anything. Simply stated, in the past when there was inflation, Gold was the best answer to it. that has not been the case the past 2 years and specifically this year. This is not a temporary change but a basic change. I hate to acknowledge this because it is doubtful that you could find someone that was more supportive of buying Gold than me. The fact that "I" have now lost my faith in Gold is a big problem because if I feel that way, there a a huge portion of other people that believed in Gold that must now feel like I do and that is not something that is going to change easily. I feel sad because I have decided that Gold is no longer going to be one of the products I trade from here on in. |
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Msg # | Subject | Author | Recs | Date Posted |
257782 | Re: Gold Outlook | kilowatt8 | 7 | 7/17/2022 3:37:22 PM |
257787 | Re: Gold Outlook | mcokpba | 7 | 7/17/2022 6:45:35 PM |
257796 | Re: Gold Outlook | BenTen | 6 | 7/17/2022 11:57:35 PM |