Why Is The Gold Value

[smartfox]

All of a sudden dropping so much. Maybe I should sell. Should I wait till this weekend? or should I sell now? It went from 950 last Friday to about 880 now. Let me know. I need the money and will sell it soon no matter what. thanks.

[James]

Personally i'd hang on to it for a bit , reality tells us its not going to go belly up so im wondering if the value drop is a ploy to panic people into selling just before gold skyrockets..worth thinking about.

[bigbillinsc]

buy low and sell high... it peaked at about 1000US. i see it climbing again. i would wait to see it hit more tha 925. then sell

[LeoinPA]

I don't think I could make a prediction on that. It could have disastrous results. It did for this guy: Mankini Man in charity dash for cash : thewest.com.au . He's an expert and got it wrong. The only thing for sure is that the price will change.

I think from now on I'll tie the price onto the height of a ladies skirt. It'll be more enjoyable to watch.

Thanks
Leo

[Steve in PR]

Here is my OPINION:

2 things seem to be tied to the price of gold. One is the price of crude oil. I am not sure why but when crude rises, so does gold. Crude is down today and so is gold.

The other is the value of the US dollar on the world market. When the dollar weakens, the price of gold rises. The dollar is stronger today so the price of gold dropped.

There is no safe way to predict the future gold price, not even on the short term.

For example:

If the dollar continues to weaken (as I expect it will) over the next few months, then the price of gold will rise simply because it will take more dollars to buy an ounce of gold.

There are a lot of economic factors that will influence the price of curde and thus, the price of gold. China is manufacturing 14,000 cars a month and they are entering into a period of double digit growth. All those cars are going to need gasoline and with a buffer of only 1-2% between what is produced and what is needed on the world market, the price of crude will be subject to how much more production is available and how willing OPEC will be to increase production.

Assuming that the dollars strengthens and that there are no major supply disruptions and every thing economic remains stable (not very likely), I expect that gold will bottom out between 700 and 800 an ounce over the next few months.

I do not expect the dollar to strengthen in that we are hemorraging money to spend overseas and there in no relief in sight for increases to transportation costs and everything that is transported. I can't paint a pretty picture.

Given that I really have no ability to see into the future, this is only my best guess and is subject to be proven wrong in a matter of hours.

[smartfox]

I really have nothing to lose but will want to really make a the biggest gain.I want a couple dollars extra for the pinpointer and to keep a couple of bucks for the bank, buy some new clothing and maybe give the wiffee a couple of bucks to make her happy. My idea is just to get a couple of bucks so I do not need to touch the money for the bills. The one chain I found the other day at school and there was one that I either bought or found. I do not remember so even if I did buy it it was for cheap.

[smartfox]

I will wait for the weekend and sell it no matter what. I have my week of spring break next week off and paid and would like to have a couple extra bucks to spend. Even now I should get no less than 700 for it. Last week I could of made at least 800. Maybe I will get lucky and it will rise in the next 2 to 3 days. Not bad for 2 chains one that I found and the other one I do not even remember how much i paid for it. Must of bought it about 10 years ago for about 50 bucks or so. That is what kind of comes to my mind but am not 100% sure.

[bdahunter]

Gold goes up or down in relation to the level of confidence in world economies. When things look tough ahead, people buy gold. When paper money is worth little more than paper, gold is still gold. The price of oil effects economies by making transportation and industry more expensive which slows economies and makes gold a logical hedge against hard times. Stability in economies and lower oil prices mean lower gold prices in real terms.
Gold is a commodity so it fluctuates with the markets, wildly lately due to economic factors including the price of oil.

Cheers,

BDA

[KellycoChick]

BDA and Steve prove themselves to be smart men, yet again. I couldn't have said it better gentlemen. My boyfriend trades currency, so I've come to learn quite a bit about the wheelin' and dealin' of the global economy. Smartfox will be smart to listen to BDA and Steve. Keep an eye on crude oil and the dollar.

[prizm-pal]

I don't see the dollar getting real strong any time soon...nor do I see the cost of fuel taking a nose dive...house forclosures at record levels...new home market worst in ten years...this is just the tip of the iceberg...and don't forget the other white meat see what mailman brought me Tues of this week...Smart fox I wouldn't sell just yet unless there is no other way for you! sorry about how the pics came out...I just had to open one of them just to see what they looked like! Chick!