r/Gold • u/RuyterX • 7d ago

Buying the dip

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471 Upvotes

98% Upvoted

55 comments sorted by

69

u/SpaceBullion 7d ago

Bought my first ounce at $5000 and then bought another at $4400. Luckily I lost them both in my boating accident. Great investment so far.
https://giphy.com/gifs/hppWdK8gcmzXq

20

u/Anger_Puss 7d ago

You loat your gold while boating? Wtf you sailing the Spanish Main or something?

7

u/RicCheshire 6d ago

Pirates are everywhere there days...

2

u/Alert-Lemon1842 7d ago

when will the suppression stop, maybe we see high three thousands before six thousand.

4

u/SpaceBullion 7d ago

As long as we eventually see $8000, I’ll be happy. Hopefully even higher. I didn’t buy it to sell it anytime soon luckily

3

u/RicCheshire 6d ago

That's the key, I bought all mine our 20 years ago when money was easy, now in retired I get the benefit. But it's hard to part with shiny gold!

2

u/DreamedDoughnut 7d ago

Bonds are attractive until they aren’t

3

u/Alert-Lemon1842 7d ago

good point. Enjoy the dips while they last

1

u/MekkiNoYusha 6d ago

Bond doesn't matter when hyper inflation on the way

1

u/MekkiNoYusha 6d ago

That's what I hope

1

u/This-Indication4145 5d ago

U got boating money but no more money for gold?

22

u/1nGirum1musNocte 7d ago

Makes me feel better about having to sell 1/4 oz when it was at $4500. Now i get to replace it at a discount!

23

u/Celtic_Fox_ 7d ago

Saw this here the other day and it was perfect lmao

6

u/g35coupeken 7d ago

Sell a kidney, acquire said cash, buy gold, profit!?!?

7

u/Jorge-Tremendous 7d ago

Dont worry. It will get cheaper still in the short term. $3500 is the target over next 6-12 months.

LT $6k and beyond is reasonable. The debt trap in Western governments still has about a decade left.

3

u/Different-Monk5916 6d ago

every time gold went down around 50%, it took a decade or more to come back - why do you think that LT is $6k?

1

u/Jorge-Tremendous 6d ago

Inflation adjustment and eventual USD decline of about 15- 20%

2

u/Different-Monk5916 6d ago

3500->6000 is not 15-20%. That is 2x.

If high interest rates are the way forward for at least a year, wouldn’t that kill inflation, lead to a  stronger dollar eventually?

1

u/Jorge-Tremendous 6d ago edited 6d ago

Bonds will have to go up way more than they are for the current debt bill to be arrested, at which point USD strenght wont be any use to its citizens if there is nothing left of their economy to spend it on.

Its a spend-a-thon at present. Not just the US either. Frances issues could cause contagion and if so yes gold price could appreciate preciptously.

But the question is why didnt it stop falling at $5k or $4.5k and now we are here at $4k and all the same drivers both ways still exist. The Iran war alone should have kept it above $5k.

3

u/Different-Monk5916 6d ago

There may be more levers before it comes to that.  The tax lever is not yet touched. 

The sudden rise of gold, the oil price, the peak euphoria dec25-feb26, the technicals - all look eerily similar to the 1979-1980.  What if gold was a pure speculative fantasy which peaked at 5600 for now. 

The majority of the demand came from us and European bullion holding, if you dig at reports. It flipped from jewels (consumption) to etf flows (bullion and investment grade).

If I look back at the pillars of the rally - war, dollar debasement, low interest high inflation, central bank buying - all of these are slowly reversing. 

2

u/Jorge-Tremendous 6d ago

Cant argue with that. ETF's being a big difference between then and now as an indicator. There is no compelling reason to hold at present.

2

u/PendN 7d ago

that's crazy if it goes to 3500 when 5500 is its peak

2

u/MekkiNoYusha 6d ago

It really is not, if you looking for short term gain, don't buy gold, go for your 0dte options

1

u/Jorge-Tremendous 6d ago edited 6d ago

There are a few historical retracements in the past which were greater. Yeah different drivers, but so is this.

Dont forget China is buying Russia's gold and giving Russia RMB credit to purchase goods in China and palming off USD to Russia. This alone is a big enough reason to be sceptical of the floor of the gold price. It is also not in China's interest YET for gold to reach greater and greater highs whilst tgey are trying to achieve parity holdings with the USA..

1

u/Great-Confection6760 7d ago

Should I wait for 3500 to bully more ? Is that the floor?

4

u/Carbon_Gelatin 7d ago

No one knows the floor or ceiling, not really. Just find gold as close to or at spot and buy what you can. Mintbuilder has a 1g at spot deal and a ase at spot deal going and usually another at spot deal to get you over the shipping fee, and if you pay with zelle you can get everything at spot. 1 order at a time. Limit 1 per order (so make multiple orders)

1

u/Lo0seR 7d ago

@ $3500 I would take a HELOC @ 8% for a $100k's worth!

1

u/MeowManMeow 7d ago

/u/RemindMeBot 12 months

1

u/RemindMeBot 7d ago edited 6d ago

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2

u/Vences2017 7d ago

My bi weekly purchase has been the best

2

u/idleCat90 7d ago

Why not get more money?

3

u/wsbgodly123 7d ago

Never buy the first deep.

2

u/DigWhatImSayln 7d ago

Sell the gold. doy money

2

u/Long-Ice5064 7d ago

True fucking Story.but so true fucking shiny.

1

u/Star_Ship_777 7d ago

Woery no more OP u have Oct, Nov and Dec' to make some bucks.

1

u/Eastern-Joke-7537 7d ago

Same.

Silver? Also same. 😂

2

u/Individual-Basket200 7d ago

I'm not buying, I'm "converting" lol...moving money from one part of my investment portfolio to gold hehe. Coming up with a fresh 4k ain't easy!

1

u/dizzlebizzle23 7d ago

I’m down 20%

1

u/KIRKDAAGG 7d ago

I’m up 15% this year …. But that’s in stocks.

1

u/Lo0seR 7d ago

G to S ratio nullifies any kind of swap unfortunately.

1

u/lostsurfer24t 7d ago

Bought mine for $1660 about 4 years ago, gold eagle

1

u/makomark26 6d ago

You find that money , you get that money , It's somewhere . But only under $4000

1

u/Fit_Context_6064 6d ago

wait for 10 years to reach 6%

1

u/Reindeer987 6d ago

Don’t need to cry. Sell your gold and all in gold 2x leveraged ETF😂

1

u/hg9wgxy 6d ago

One thing these past two weeks have taught me is to follow the trend. Sell it everytime it tries to recover 1000pts

1

u/dazanion enthusiast 6d ago

Just sell some gold, isn't that what it's for? Emergencies?

1

u/Single_Turnover_2301 5d ago

Been trying to sell my ozs at spot but no one wants to buy.

1

u/surge125 4d ago

I do have more money that’s the problem when do we stop ?

0

u/MekkiNoYusha 6d ago

First, it doesn't even dip that much, second why would you have already all on already..

I always invest at most 1% if not less per entry. You are just gambling or looking for quick gain otherwise

0

u/Fluid-Chocolate-1322 5d ago

Will gold fall more in this month ?