Gold price is suffering

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sevenmmm's picture
Status: Silver Member (Offline)
Joined: Jan 19 2011
Posts: 108
Gold price is suffering

Well, here it is, up against the time that tries Gold's Soul.

I have been through over and over and over, even holding $500 Gold through the horrid last of the 90's $250 pricing. At the time, it hurt so much I couldn't buy more, I wouldn't even look at the price when it flashed up on the scroll bar above the back then always yammering Maria. In retrospect, I was stupid and ignorant. But was still smart enough to hold what I had, and even more important, to start accumulating again once the price broke through $350.

As a side note, I was so stupid at $250 Gold I bought a new boat instead of buying more Gold! Someone please put me out of my misery!

But anyway, if you hold physical Gold, please consider the possibility you won't be able to replace it if you sell. And even worse, don't sell it at a lower price. There are no margin calls on physical... Oh, and by the way, I don't trade and don't hold any stocks, so I have nothing to type about that part of the equation.

A good article found in the link below, an excerpt:

The bottom line is: Hi ho, hi ho, it's into the fear zone you and I go. It's been a while since you and I tasted real fear in the gold market. It's real and you need to face all that is real. Don't paste a giant Goldilocks poster on your mirror. Don't underestimate the power of your current opponent. Your gold-market friend, a major bond bear market, is currently your enemy, and that is the norm at the beginning of a major bond bear. My "do not wish for something too hard or you just might get it" mantra can be applied directly to the wish of the gold community for a major bond bear market. You got your wish come true. Now the question is: How does it feel?

PS. If you stop accumulating Gold for a time, insulate your house instead. 

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