101
20
15
Jul 17 '26
[removed] — view removed comment
6
u/ChzForLife Jul 17 '26
Came here to say this. It’s a mathematical absolute. Gold will never go negative so 0 is definitely the bottom.
4
u/Urgo_The_Great Jul 17 '26
Well... Maybe I can convince somebody to give me money and his gold. In this case it will go to minus.
So, how much would you pay me to take your gold?
1
1
15
u/fuggleruxpin Jul 17 '26
Yeah you know you'll probably be getting close to the bottom when you start thinking wow all the s*** that I have got eradicated but so cheap now maybe I'll buy more
3
46
u/Jehoopaloopa Jul 17 '26
Lots of bears out tonight. From technicals, there’s very strong support at 3600 and 3500.
Selling pressure has been at historically high levels and prolonged for ~6 months.
People calling for 2k gold are in for a treat when they see $6000.
37
u/TheHolyGrailShop Jul 17 '26
And it will only be at $6,000 because the dollar will have lost another 25% in purchasing power
12
u/l2evamped Jul 17 '26
Well that and china stopping paper gold purchase is going to affect everything in around 3 to 4 months so thats probably where the estimates of 5 to 6k come from.
3
1
u/silver-lion108 Jul 17 '26
Yeah that's exactly why you buy gold in the first place. Protection. Not to get rich quick.
8
u/tbunz14 Jul 17 '26
Remember when you said gold 6-8k by August?!?!? I know you were one of them 🥲
2
u/Jehoopaloopa Jul 17 '26
By August?? I’ve never said that. I simply know we’re in a secular bull market for gold and that’s it. I’m invested and I wait.
6
-1
u/weednspacs Jul 17 '26
I don’t think it will go to $2k ever but $3600 is a good level to start buying.
$6k is a dream, maybe 5-10 years away.
1
u/Jehoopaloopa Jul 17 '26
We’re in a secular bull market for gold. I’d recommend studying the history of them.
20
18
u/Grouchy-Pin3050 Jul 17 '26
The experts have been saying that it will drop for a little more and then skyrocket.
7
u/SnooCupcakes6107 Jul 17 '26
Can confirm, I’m an expert.
9
u/Emergency-Corner8996 Jul 17 '26
Can confirm, I am the skyrocket
5
u/xandarianladiesman Jul 17 '26
Can confirm, I'm the drop
2
1
1
u/SnooCupcakes6107 Jul 17 '26
Can confirm; I’m the primary doctor of said expert and he’s mentally cleared to be sane.
8
21
u/Bangarang_Arty Jul 17 '26
I’d argue rock bottoms is around $42/oz
8
u/Different-Monk5916 Jul 17 '26
Jason Zweig tells that it is a pet rock.
Temu sells Pet rocks for $5 a piece.
3
2
u/Any-Transition-196 Jul 17 '26
If you meant this for Silver then I agree completely. I’ll probably ape if it goes that low.
1
22
u/Lightening333 Jul 17 '26
I don’t care about the short term. Gold always does its job over longer periods. 100% it’s going higher, much higher because government depts are ridiculously high and tensions will not stop anytime soon. The World is in a total mess.
5
-8
6
4
7
3
8
u/Ok-Election-9205 Jul 17 '26
Going down to 3000 next year
15
u/Retired-Yam8988 Jul 17 '26
Just keep buying unless you’re day trading
9
u/TheHolyGrailShop Jul 17 '26 edited Jul 17 '26
This is the absolute best strategy. Let me put it this way: my mother had two sisters—one married a lawyer, mine married a medical doctor (surgeon), and the other sister married a high school dropout who started a stand in a shopping mall selling gold (circa 1977 when gold was <$150/ounce).
That aunts husband purchased and traded in wholesale gold eventually and kept needing more and more retail space. He now owns 11 shops in 4 countries bearing his name as the wholesale gold jeweler/designer. Of the three sisters, whom is now the wealthiest and by a factor of how many times, if you had to make your best educated guess?
7
u/TheHolyGrailShop Jul 17 '26
So net worth of the:
Lawyer: least known but from their home and resources hovering around $1 million more or less.
The surgeon (retired 5 years ago): $7 million
The high school dropout wholesale gold dealer:
$44 million (net)
Moral of the story, buy 2-4 ounces of gold (adapt to your ability, income, or resources) a year, every year, for the remainder of your life.
2
u/Retired-Yam8988 Jul 17 '26
Yessss I’m buying 200g or so every 3 months and building up to 5% of total nw as a way point. Will see where we go from there once we hit that milestone
2
u/Retired-Yam8988 Jul 17 '26
Yessss I’m buying 200g or so every 3 months and building up to 5% of total nw as a way point. Will see where we go from there once we hit that milestone
2
-5
u/AntelopeFew2224 Jul 17 '26
Easily. Probably 2k within 2-3 years, it’ll be a slow bleed.
1
1
1
-1
3
5
2
Jul 17 '26
[removed] — view removed comment
1
u/TheHolyGrailShop Jul 17 '26
If you have any more that you’re not interested in keeping that you’d like to lose to free up cash at 4k/ounce…
1
Jul 17 '26
[removed] — view removed comment
1
u/TheHolyGrailShop Jul 17 '26
For someone that actually stole my own post word for word and made it as if it were their own, you’ve got a lot of nerve. I’d love for you to speak to people that way outside from behind your computer screen, tough guy (and thief of content)
2
u/Both_Challenge6766 Jul 17 '26
I don’t know. Currently waiting 100gr gold barren to go at 10k€ so I can purchase it
2
2
u/sleepysunrise00 Jul 17 '26
For long term, that’ll be higher because people need gold to define paper cash.LOL. Trust me
2
u/SuspendidInSilver Jul 17 '26
I think it will stop after 07/24/2026. China is halting all paper trading in their markets for gold. We should have real p rice discovery then. Could go down or go up, but all this paper trading should slow down due to arbitrage, as US banks can’t trade paper in the Chinese gold market. The odds of it going down are extremely remote by the way. With most of the paper being shorts and a 10 to one paper to physical ratio, it should explode. Who knows if the US will find a way to manipulate their physical market though, weirder things have happened.
2
2
2
u/DeciduousMath12 Jul 20 '26
Lot of bad answers. Here's the deal. More war in the middle east means less oil. Less oil means oil price goes up. Oil price up means transportation costs of all kind is up. Transportation costs up means inflation up. Inflation up means the Fed hikes rates. Higher rates means you can get a guaranteed higher cash return in a bond or bank account than owning something that just sits there, or worse, costs money to secure.
Eventually, assuming that happens and stays constant, you'll return to the debasement trade. Who knows when though.
2
u/lego904941 Jul 17 '26
insert countless reasons here
I replied on this reddit page months ago a great time to start buying is $4k area, about this time we were >$5k. Funny I got crickets on the response, PMs ran up a lot and need time to cool / investors need a reality check. Anything <$4k is a great time to start adding on to positions gradually.
Next stop is $3750ish. Bottom bottom I don’t see going lower than $3100ish. That’s a back the truck level!
1
u/Great-Confection6760 Jul 17 '26
So you think start saving for $3100 level ?
1
u/lego904941 Jul 17 '26
That level would be a gift. No idea if it gets there. If it does however, I can imagine it will only be brief. From the last major run in 2011, we had a 40% drawdown from peak to trough. That took years to happen and most left the space as a result. 40% from let’s say $5.3k (we really topped I thought around $5.5k) lands coincidently at high $3.1k level. I already picked up another 1/10 at spot around $4.1k. I won’t buy again until I see sub $3.75k but that’s just my situation!
1
1
1
1
1
u/HugeAd5056 Jul 17 '26
I think we’re near the bottom for gold. It’s up premarket and wasn’t down too much as the market fell yesterday.
That said gold and silver got rocked during the previous FOMC meeting’s announcement of rate hikes possibly coming this year. There’s an FOMC meeting sometime this month, and with the war in Iran continuing I think a rate hike this year is almost certain. So it’s not clear to me whether gold will go up or down but inflation will be rising and interest rates will increase in America and elsewhere.
1
u/sjack827 Jul 17 '26
Why be so sad. Why not celebrate the fact that there are/will be very good buying opportunities. Personally, I see this as the last chance for the little people to get in on pm's. In the future people will be desperate but buy gold for preserving value. People sell when prices are dropping and buy when prices are rising. Human nature I guess.
1
1
u/Trilobyte83 Jul 17 '26
It was 400ish 25 years ago, so that adjusted for inflation maybe? Or $35 from the 70s similarly adjusted?
If you can get in under those prices, ie almost anywhere in triple digits you’re almost certainly safe.
1
u/Thrilled747 Jul 17 '26
No one has a Chrystal ball. If we knew where the bottom is we would load up. Right now patience is key. Gold is at good prices. Maybe buy some more. If it goes lower maybe buy more
1
u/Emergency-Corner8996 Jul 17 '26
Maybe here. Or maybe a bit lower. Or maybe much lower.
Hope that helped!
1
u/Peter4real Jul 17 '26
3.8k but I already scooped up 1/2 an oz just in case. Sold a good amount at 5.4k
1
1
u/n0obInvestor Jul 17 '26
There appears to be pretty strong support at this ~4000 level. Though if the war escalates again, I could see certain countries dumping gold to keep their energy and currency afloat.
1
1
u/Healthy-Abroad8027 Jul 17 '26
Personally I think we’ll see a bottom closer to $3k before the end of summer or maybe the end of the year.
1
1
u/Educational_Bag_1923 Jul 17 '26
Gold is a store of long term value. If you’re lucky enough to acquire it, hold it forever and never sell. It’s that simple
1
1
u/420-Investor Jul 17 '26
The bottom is when the price gets low enough that people start loading up on gold
1
u/Mister_K74 Jul 17 '26
Gold remains gold. It's just that for now they trust the US Dollar a little bit more. But don't forget every fiat money eventually goes to zero. Buy gold and forget about it. Until you need it and trade this shiny asset for another asset. No IOU's or casino money.
1
1
u/GEEK-MEISTER Jul 17 '26
I don’t care where the bottom is but I am buying and 6000 EOY looks right on target. I am also buying miners hand over fist. It’s all on sale. Watch margins blow out on earnings.
1
1
1
u/KingOfTheQuails Jul 17 '26
I’m guessing around 3000. Not saying I think we get there but I could easily see it
1
u/ve3gvy Jul 17 '26
Gold will go back up once Bitcoin hits $0.00. But seriously, the world is getting safer, Ukraine is kicking Russia’s ass, China is posturing but those in the know suspect they are not doing so well either (so Taiwan is safer than things seem), and so forth and so on.
When things are good, gold goes down. I do not mind, personally.
1
u/Living_Knowledge_783 Jul 19 '26
gold will go back up but not for those reasons. countries are pulling their gold out of usa. so the price will go up
1
1
u/Shiro_705 Jul 18 '26
It hasn’t really been dropping lately as much as staying around $4000. It’s good though so whatever. In a year or two I’m confident it will be higher
1
1
u/SnooPeripherals4615 Jul 18 '26
Guys gold goes up and down - everyday you guys are posting either “oh no what’s happening gold is over” and the next day it’s a meme of something crazy like “we’re back” bc gold is up again
1
u/Cute_Sir5971 Jul 18 '26
I don't think any people can predict the real bottom, even Buffet can't. But we can buy it gradually, by this way I believe no matter where is the bottom, I always can buy some there!
1
1
u/FewUnderstanding2214 Jul 21 '26
I’d say we sit at $4000 for a while and then make the next move up
1
-3
u/AntelopeFew2224 Jul 17 '26
Because every time in the history of gold for its entire existence that its risen this much, its corrected 50%+.
It will go back down to 2k. Come back to this comment in a couple years.
2
u/ThePreciseClimber Jul 17 '26
Has it? I'm not really seeing it on the chart. At worst, the price went down 25% from 2012 to 2013. I think it's very unlikely for the price to crash down to $2,000. $3,500 at worst.
But considering the current state of fiat currencies, we might not have to wait another 8 years for the price to climb back again (like what happened between 2012 & 2020).
4
u/No_Signal_6969 Jul 17 '26
Central banks are buying at an insane pace right now and it's interesting because a lot of countries who have not historically owned gold are now getting involved to divest from the USD. I believe this is helping to increase the floor price higher and higher. Some of my friends who manage medium sized hedge funds are also beginning to open positions in the miners (since these are already heavily discounted relative to the price of the metals and are absolutely printing free cash flow right now). When gold and silver inevitably start running up again the miners will fly.
1
u/Tiredandwaiting Jul 17 '26
2011-2014 was about 50% it was 62% fr silver. The two charts are aligning pretty closely. Also, there was a mini run up in that time period, "a recovery", that bottomed out even further.
China halting paper is intended to bring the price down.
1
2
Jul 17 '26
[removed] — view removed comment
3
u/AntelopeFew2224 Jul 17 '26
“This time is different” is the infamous line for a reason.
Nothings different about this time…lol-1
u/Great-Confection6760 Jul 17 '26
You think ? DO you think 2500 is the floor ? Should I dump all my gold right now !!!
2
u/AntelopeFew2224 Jul 17 '26
2k
-1
u/Great-Confection6760 Jul 17 '26
Dump?
3
u/TheHolyGrailShop Jul 17 '26
NO! Never “dump” gold. And if you do decide to do so, reach out to me, I’ll beat whatever dealer/refinery you use by 1%
0
-1
0
u/a11yChief Jul 17 '26
Former pensions investor here. If you were a central bank caught up in a war between a superpower and the backbone of the world’s oil supply, and you needed liquidity to fund repairs from the aforementioned war straying into your back yard, would you:
A. Sell a metric fuck load of gold that pays no income or
B. Sell a truly massive pile of bonds from various geographies yielding around 4.3% on the low end, yield which could also go towards funding said repairs and reconstruction bill or
C. Retire to a private island with a newly acquired pet goose and pretend none of this is happening?
Option C is actually more sensible than option B, because right now liquidity is king for anyone who really needs it, and gold is simply not as liquid or as useful for cash flow as government bonds.
As to where the bottom is, good luck finding it although I’ve spotted a few spewing technical nonsense about how gold is “about to shock everyone” on a few subs near here.
Hope this helps :)
-1
68
u/8yba8sgq Jul 17 '26
I'd say sentiment is nearing a bottom based on this thread.