Wednesday, November 16, 2011
Gold at US$2000 Within 6-8 Weeks? Commentary
Unfortunately, the truth is that gold _may_ go that high in that time frame, or it might not, there is simply no way for anyone, including Mr Waters, to know for sure.
Although gold is in historically uncharted waters, it seems reasonable to assume that $2,000 per Oz. is a significant support/resistance level .
Meaning that if and when it breaks that barrier , then it might hold and confirm that new valuation over time, or it might quickly fall back below $2000 for a year or so, or it might even quickly move up to the next logical support/resistance level of $2500 per oz.
Again, there is simply no way to know for sure- outside of pure luck/coincidence, the economic financial future cannot be reliably/accurately predicted by anyone with any worthwhile consistency.
However if an individual places his/her bets on a higher price for gold :
1] using money they can afford to lose, [and allocates a specific, not to be exceeded, amount of that money],
2] sets realistic, automated, limited, buy orders with their broker;
3] employs pre-determined, automatic, realistic, trailing stop-losses that can be raised should the market price of their speculation increase, but that are never lowered should the speculations price drop below the stop loss level [instead the speculator is automatically "stopped out"],
4] has a general awareness of probable support/resistance levels, risk/reward ratios etc.etc.,
then they will at least have protected themselves from losing their shirts[ i.e money they cannot afford to lose- a fixed percentage of which is already pre-allocated to gold bullion, regardless of its current price], should their bets on the seeming "inevitability" of a higher gold price not pan out as hoped for.
More On Speculations in Gold Bullion
As a pure speculation, for a number of to remain publicly undisclosed reasons [i.e.disclosed to clients only],I would definitely not be buying gold at around the $1800 per oz. price, as Mr Waters appears to be suggesting you do.
None clients may purchase my "Complete Guide to Safe Speculations",[currently in the process of re-editing] for $250, to find out exactly why, as a speculation, even a limited gold bullion "buy-in" at around $1800 per oz. that allocates only a small portion of money you can afford to lose, is still probably a bad idea as a speculation.
Gold Bullion as Part of A Long Term Savings Plan [not a speculation]
On the other hand, and regardless of current price per oz.,for the person who has no gold bullion at this time for their long term savings plan, buying a specific amount of gold at this time in order to commit a specific percentage of their long-term savings to gold as a constant part of that savings plan that never changes percentage-wise,no matter what happens to the daily price, is a very good idea. Regards, onebornfree.
Update [11/18/11] The both famous and highly esteemed Mr Richard Russell has also recently written on what he sees as Golds inevitably glowing future prospects, and advises his subscribers to accumulate even more gold, regardless. Although I am a great admirer of Mr Russell, I have to say that ultimately, he knows no more, or less about the future than you, me, or anyone else. Therefor I would advise extreme caution in acting on his advice- I feel that everything I said above in the main part of this post applies equally to Mr Russell's advice.
Financial Safety Services is NOT an investment advisory service. Financial Safety Services is an educational service that teaches the interested individual non-original [i.e. invented by others far more intelligent than myself], time-tested safe methods/principles that might be successfully used by the individual for relatively low risk speculations in various financial markets.
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More About Financial Safety Services
Financial Safety Services is a private , mostly off-line, international, person to person consulting service that attempts to show its real-time [i.e. non-internet derived] clients how to speculate safely with money that they can afford to lose. Money that the client cannot afford to lose should never be risked in these speculations
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Therefor any/all posts at this site are for the reference and possible benefit of pre-existing , real-world, paying clients only as part of my services [and to perhaps help emphasize a particular point I make to them in private], and never for the benefit of the general reading public and casual internet reader at large.
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Current Client Questions.
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