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Gold Breakout... $2,000 (US) Here we come!

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Forum topic by Joe Lyddon posted 07-27-2012 06:47 PM 1324 views 0 times favorited 14 replies Add to Favorites Watch
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Joe Lyddon

9451 posts in 3519 days


07-27-2012 06:47 PM

Topic tags/keywords: financial gold silver chart charts descending triangle opinion

Gold Price Breakout…!

(scroll down)
Look at the 6 month chart... It just broke out of the Descending Triangle...
Look at the 1 year chart… It will probably be breaking out of That Descending Triangle pretty soon…
Look at the 5 year chart… See that Descending Triangle at the top? As a result of breaking out on the 1 year chart, we are headed to Break that Triangle High…

$2,000+ here we come!

... and, of course Silver will tag along… LOL

I’ve been watching for quite awhile… looks like it’s about to happen now!

This is my Opinion… and worth only what it cost you to get it… LOL

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"


14 replies so far

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Joe Lyddon

9451 posts in 3519 days


#1 posted 07-27-2012 07:10 PM

I added the Charts so they would be Saved at the time of this Post…

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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derosa

1568 posts in 2302 days


#2 posted 07-28-2012 01:50 PM

Historically gold is severly overpriced especiallilly considering platinum has taken up some of the slack in the rare metals market. I wwould expect it to start coming down soonish. On the othe hand silver in the last 70 years is lower by far then its ever been in the last 2 thousand yeaars, something there will need to change and it should go up some time.

-- --Rev. Russ in NY-- A posse ad esse

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Bertha

13003 posts in 2160 days


#3 posted 07-28-2012 02:15 PM

I was split gold and silver for the longest time but recently I’ve been more silver. I like Scottsdale just because they’re pretty;)

-- My dad and I built a 65 chev pick up.I killed trannys in that thing for some reason-Hog

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Joe Lyddon

9451 posts in 3519 days


#4 posted 07-28-2012 05:53 PM

derosa,

The same thing that will cause Gold to go UP will cause Silver to go UP.

If you can, look at the 10 year Gold Chart ... Cover up the right portion of the chart… where the price is $1,000 … Then start oncovering to the right until you see the breakout of the triangle… just by looking at the chart, as you have said today, you would say it will go DOWN… shortly after it hit 1,000, it went into a descending triangle as we have recently seen… when it Broke Out of that triangle, it was UP UP & AWAY... until another consolidation session came about…

Based on the Chart, NOT on my feelings, NOT a hunch, in about a year from now the price of gold will be very close, if not over, $2,000 per ounce. (Silver will follow and probably give one a better Return on Investment)...

Remember, this is in US$. The price of Gold is just another way of seeing how the Value of our Dollar is going DOWN… because it takes more US$ to buy the same amount of Gold as it did before when our $ was stronger.

That’s the way the mop flops…

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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Bertha

13003 posts in 2160 days


#5 posted 07-28-2012 08:06 PM

Joe, I like silver and gold because I can hold it. I put it in MY safe, no one else’s. I’m not a doomsdayer but I like the idea of universal tender. Perhaps I should start hoarding gas and ammo. Oops, I already am! ;)

-- My dad and I built a 65 chev pick up.I killed trannys in that thing for some reason-Hog

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derosa

1568 posts in 2302 days


#6 posted 07-28-2012 09:06 PM

I’m with you Al, nothing like holding it in your hands. At last count I have 31lb of classic american coinage much of it bought low grade as a simple store of value at far below the current prices.

-- --Rev. Russ in NY-- A posse ad esse

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Joe Lyddon

9451 posts in 3519 days


#7 posted 07-28-2012 10:50 PM

If you’re going to get into Gold & Silver, etc. (metals), YES, Taking possession is the ONLY way to go…

Common 1 oz. Silver Rounds are good… better than Bars…

Old silver coins are good too… except I find them very distressing... they always remind of what I used to spend, etc. as part of my daily life cycle! LOL If I knew what the value of that Change would eventually be, I would have stashed more of it away! LOL

Gold Kangaroos work good for Gold… 1 oz. generic coins.

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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Joe Lyddon

9451 posts in 3519 days


#8 posted 09-13-2012 09:04 PM

Well, it broke out 48 days ago…

It is $1,770 ask I type…

IMHO… $2,000 here we come!

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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americanwoodworker

185 posts in 1840 days


#9 posted 09-13-2012 09:23 PM

Pretty sad what is going on. Legal thievery. Our dollar is more and more worthless. Now how am I gonna afford to buy that new dust collector after the decision that was made today?

-- Your freedom to be you, includes my freedom to be free from you.

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Joe Lyddon

9451 posts in 3519 days


#10 posted 09-13-2012 09:54 PM

You’ve got that right!!

To answer your question,
... use some of that Gold & Silver you have been hording… LOL

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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americanwoodworker

185 posts in 1840 days


#11 posted 09-14-2012 01:24 AM

I don’t waste my time with metals. The way I look at it is if the economy collapses I can’t eat gold. I cant wear it. I can’t drink it, and I cant live in it. So we will become a bartering society, trading knowledge for goods. Farmers need carpenters and carpenters need farmers. Maybe I am wrong. Hopefully we will never see it.

Hmmm, what will all the lawyers and community organizers do? LOL!

-- Your freedom to be you, includes my freedom to be free from you.

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Joe Lyddon

9451 posts in 3519 days


#12 posted 09-14-2012 04:06 AM

Well, I do know what I can do with it…

Right now… I can sell it for $1,750 per ounce... That's better than a kick in the head!

That is the objective!!

Silver the same way!!

You can sell it TO BUY food, tools, gasoline, etc. etc. etc. Whatever you need!!

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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OnlyJustME

1562 posts in 1844 days


#13 posted 09-16-2012 07:03 AM

Gold is not going up, the value of the dollar is going down.
You can only use money to buy whatever you need if who has what you need will take it.

-- In the end, when your life flashes before your eyes, will you like what you see?

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Joe Lyddon

9451 posts in 3519 days


#14 posted 09-16-2012 07:20 PM

OnlyJustMe... Yes, you're right!

Today, as of the close Friday, 9-14-12, to buy one ounce of Gold with US$, it would take $1,770.50 US$ to buy it…

If you had bought one ounce of Gold (way back when) for $350, that $350 US$ has inflated by $1,420.50…
... aka: you need 1,420.50 more US$ to buy the same ounce of Gold that once only cost $350.

BUT, if you SOLD that one ounce of Gold today, you would get about $1,770.50 which is like having that inflated money in your pocket… so you could buy equally inflated GOODS… In short, you would have stayed EVEN with inflation.

Has your normal income gone up at the same rate of inflation? I doubt it… (not if you’re retired)

The name of the game is BUY low enough so when the price goes up, it will at least stay even with inflation… Better yet, come out ahead.

The Breakout that I mentioned when I started this thread, was a BUY point… where the Technical Analysis looks like the price of gold will go substancially UP… Hopefully keeping up with inflation…. because the more or debt is increased, the lower our $$ will be valued, and the higher gold will cost in US$.

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: http://www.ncwoodworker.net/pp/showgallery.php?ppuser=1389&cat=500"

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