GREY:ABGFF - Post by User
Post by
nonrev321on Jul 22, 2004 3:47pm
179 Views
Post# 7736284
Like it was in 1980...
Like it was in 1980...Hi, yeah I was around in 70/80, I was 28 than.. Even had a bit of gold.
What did it in the 80's was the public awareness of Gold as an inflation hedge (remember inflation was much higher than) and than the panic with everyone rushing into gold.
I think we would need the same soup for the price to go up as much today. General public awareness of Gold (maybe as a preservation of wealth this time) and a panic of some sort.
This could happen. I do expect a panic of some type and the money rushing around looking for safety, I even expect Gold to possibly make a rush to between $1800 and $2000/oz. That would pretty much be proportional to the 80's advance. Will it happen? I just don't know. This looks like a company with potential and its cheap so I hope to do well in any case.
But remember how quick the climb and how quick the fall was afterward? Gotta be on ur toes than.. forget fundementals, forget T/A, just hang on and hope to exit near the top.
I remember selling too early cause I thought "How could it go any higher" and I missed a good part of the advance.
nonrev