Hey guys, I want to know your opinions that you like to save gold or not? If not then what's the reason?
Angela Jones >> Learn how to Save Gold? | Gold Savings Account | Buy Gold Online
My humble view is that gold is near the upper edge of a ten year range price has fluctuated in.
Any trader (short term) will therefore say that the odds are in favour of a decline back to the lower edge of that ten year price range. You can see it easily on eg a chart.
There is currently a massive stress within the world's financial pricing and crowd control systems. Corruption is being revealed. Something may give.
A move to a fresh paradigm would involve changes of leaderships of large countries, new centrist parties (called populist by the current leftist parties of right and left). This would weaken forces constraining prices of commodities.
Food prices would rise for example. Gold might also. As would wages. (You see, if the currencies fall the banks lose out when people repay their loans with lower value money in the future) So a battle between inflationists (popular politics) and deflationists (the established financial industry dominated politics) is under way.
So if this all begins to happen, gold may still have a long way to go upwards.
Summary: in my view, not investment advice, a small rise in the price of gold, and refusal of gold to relinquish that small rise, will demonstrate that a new situation has come into existence wherein gold has a floor under it supporting its price.
This is called by some people, an inflection point, where the coin of randomness is temporarily on its edge, and we await it beginning to move to either side to make our longer plans.
This post I made earlier discussed the same issue, but in terms of management changes in large corporations and social mood swings which cause prices to change.
Rhythm and Price http://www.greenhobbymodel.com/rhythmnprice.html
This analyst - global markets
For several years many countries/governments have been purchasing physical gold.
The pricing we see today is not the result of physical gold sales, but futures contracts and other paper derivatives, which all told are many multiples of available, physical gold.
Why did those entities buy physical? To prepare for the end of the current financial system, which may well be right now. The COVID-19 virus is the straw breaking the camel's back.
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I first bought Gold back in 2004 in small amounts and having zero knowledge about the market but there was a lot of noise in the market that Gold was going to go up to USD 5.000 so I decided to keep it. Clearly it never went to USD 5.000 but 10 years later it was price 3x the price on 2004 and now it has gone up 4x the price that I bought at in 2004. It is going to go up to USD 5.000 anytime in the future ? I have no idea but this time around I will continue holding it unless price goes below USD 1.700 in which case I deserve to take my long term profit off the table (or at least 50% of it).