WoV Challenge -- Predict the price of gold on Jan 1, 2013.
March 25th, 2012 at 6:03:05 PM
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Quote: WizardI was at a Bovada party on Friday.
Was it one of those parties they had while the
Titanic was going down and everybody was in
denial?
"It's not called gambling if the math is on your side."
April 4th, 2012 at 1:47:05 PM
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edited
"It's not called gambling if the math is on your side."
April 4th, 2012 at 2:10:20 PM
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Anybody else watching gold? It closed on Mon at $1677
and today at $1620. Thats down $57 in 2 days, an 11 week
low. And it should be well into the $1500's by the end of
the week.
and today at $1620. Thats down $57 in 2 days, an 11 week
low. And it should be well into the $1500's by the end of
the week.
"It's not called gambling if the math is on your side."
April 4th, 2012 at 2:17:35 PM
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Quote: EvenBobAnybody else watching gold? It closed on Mon at $1677
and today at $1620. Thats down $57 in 2 days, an 11 week
low. And it should be well into the $1500's by the end of
the week.
And then back up to $1899 by year end.
I heart Crystal Math.
April 4th, 2012 at 2:30:19 PM
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Quote: EvenBobAnybody else watching gold? It closed on Mon at $1677
and today at $1620. Thats down $57 in 2 days, an 11 week
low. And it should be well into the $1500's by the end of
the week.
I definitely noticed. Lame day for my portfolio, PMs down AND stocks down.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
April 4th, 2012 at 5:18:28 PM
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silver is really crashing; oil has been down, not necessarily today
with hopes crushed for QE3, the markets need something to pump them up. Gee, how about companies reporting profits?
with hopes crushed for QE3, the markets need something to pump them up. Gee, how about companies reporting profits?
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 8th, 2012 at 7:18:32 PM
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Can we still make a prediction? This challenge was issued months ago, so I figured I'd ask first.
May 8th, 2012 at 7:56:08 PM
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Gold went down $44 today, its back in the 1500's. Go ahead.
"It's not called gambling if the math is on your side."
May 8th, 2012 at 7:56:20 PM
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Quote: Boney526Can we still make a prediction? This challenge was issued months ago, so I figured I'd ask first.
No, it closed months ago.
I see that minnesotajoe is closest as of this moment, who is right in the middle of the pack.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 8th, 2012 at 8:13:19 PM
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Gold was 1720 when this thread started, today it was 1594.
Right on schedule.
Right on schedule.
"It's not called gambling if the math is on your side."
May 9th, 2012 at 10:26:07 AM
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Quote: EvenBobGold was 1720 when this thread started, today it was 1594.
Right on schedule.
Gold to Hit $10,000 an Ounce, Experts Conclude. But . . .
US Currency in circulation
2012-05-02: $1,100.493 Billions of Dollars
The But... in the article is that gold will eventually crash very hard.
May 9th, 2012 at 11:00:44 AM
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Quote: EvenBobGold was 1720 when this thread started, today it was 1594.
Right on schedule.
AND the stock market is down. Damn it, it's supposed to be one or the other!
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
May 9th, 2012 at 11:12:32 AM
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Quote: EvenBobGold was 1720 when this thread started, today it was 1594.
Right on schedule.
Don't worry Bob. Uncle Ben Bernake keeps printing those dollars, gold will go back up. Tough to make a 7 month price preditction but god is not overpriced at the moment. Food and oil keep getting more expensive, so will gold.
Vote for Nobody 2020!
May 9th, 2012 at 11:26:15 AM
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Went down to 1580 this morning, back up to 1590 now.
Hasn't recovered any of the losses from yesterday.
Hasn't recovered any of the losses from yesterday.
"It's not called gambling if the math is on your side."
May 9th, 2012 at 11:30:37 AM
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Quote: EvenBobWent down to 1580 this morning, back up to 1590 now.
Hasn't recovered any of the losses from yesterday.
you wouldn't think it would work like this, but the story is that the Europeans are cashing out their gold and buying US Dollars during the current anxiety. Of course maybe gold has lost its luster.
Previously the Swiss Franc was the go-to currency [if a guy had seen that coming it did better than buying gold when that was hot]. I think the Swiss somehow have put the kabosh on that.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 9th, 2012 at 11:34:21 AM
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You mean $1852... wink, wink, nudge, nudgeQuote: CrystalMathAnd then back up to $1899 by year end.
Simplicity is the ultimate sophistication - Leonardo da Vinci
May 9th, 2012 at 11:49:52 AM
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If it gets into the mid 1500's, you'll
see some panic selling. Way too
many people bought in at $1700.
see some panic selling. Way too
many people bought in at $1700.
"It's not called gambling if the math is on your side."
May 9th, 2012 at 2:44:46 PM
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Closed at 1589, down $5 from yesterday. People are
shaking in their boots, husbands and wives are
screaming at each other. Sell sell sell!
shaking in their boots, husbands and wives are
screaming at each other. Sell sell sell!
"It's not called gambling if the math is on your side."
May 9th, 2012 at 3:20:00 PM
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Quote: EvenBobClosed at 1589, down $5 from yesterday. People are
shaking in their boots, husbands and wives are
screaming at each other. Sell sell sell!
You remind me of Eddie Murphy in Trading Places.
Quote: Billy Ray Valentine, Trading Places
Okay, pork belly prices have been dropping all morning, which means that everybody is waiting for it to hit rock bottom, so they can buy low. Which means that the people who own the pork belly contracts are saying, "Hey, we're losing all our damn money, and Christmas is around the corner, and I ain't gonna have no money to buy my son the G.I. Joe with the kung-fu grip! And my wife ain't gonna f... my wife ain't gonna make love to me if I got no money!" So they're panicking right now, they're screaming "SELL! SELL!" to get out before the price keeps dropping. They're panicking out there right now, I can feel it.
I heart Crystal Math.
May 9th, 2012 at 3:32:27 PM
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I may have prognosticated a little too high a price.
Someday, joor goin' to see the name of Googie Gomez in lights and joor goin' to say to joorself, "Was that her?" and then joor goin' to answer to joorself, "That was her!" But you know somethin' mister? I was always her yuss nobody knows it! - Googie Gomez
May 9th, 2012 at 3:50:13 PM
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My guess was 1300, very do-able, its only May.
"It's not called gambling if the math is on your side."
May 9th, 2012 at 4:51:29 PM
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Quote: s2dbakerI may have prognosticated a little too high a price.
Ha. If it falls to your price, I'm sure a lot more than gold will collapse.
I still think gold will come back, but maybe not as strong as I had originally guessed. I'm now thinking $1800 instead of $1900.
I heart Crystal Math.
May 11th, 2012 at 3:56:58 PM
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OK, I'll just say it openly.
I'm still just getting into studying economics, but I'd expect that Gold (and silver, especially) are going to fall in the short term, but are up in the long term. If they take a big beating this week, then I'm going to be bullish.
This (has been) and will be a tough week for people invested in these commodities, but I don't think they have much to fear. This "bubble" seems consistent with inflation, if you ignore the volatility. In other words - I don't think this is a bubble waiting to burst. When bubbles happen, people have tendency to radically change their behavior, expecting to be financially secure based on their investments. With gold, people buy it to guard against inflation. So unless we stop inflating, I don't see prices going down long run. That volatility could lead it anywhere on Jan 1st, but I'd expect it to be close to 1800-2000 by then. So I'd say 1900.
There are, however, very many factors that could change between now and then (especially because it's election season). I could be wrong, however. The prices have taken quite a beating this week.
I'm still just getting into studying economics, but I'd expect that Gold (and silver, especially) are going to fall in the short term, but are up in the long term. If they take a big beating this week, then I'm going to be bullish.
This (has been) and will be a tough week for people invested in these commodities, but I don't think they have much to fear. This "bubble" seems consistent with inflation, if you ignore the volatility. In other words - I don't think this is a bubble waiting to burst. When bubbles happen, people have tendency to radically change their behavior, expecting to be financially secure based on their investments. With gold, people buy it to guard against inflation. So unless we stop inflating, I don't see prices going down long run. That volatility could lead it anywhere on Jan 1st, but I'd expect it to be close to 1800-2000 by then. So I'd say 1900.
There are, however, very many factors that could change between now and then (especially because it's election season). I could be wrong, however. The prices have taken quite a beating this week.
May 11th, 2012 at 5:18:26 PM
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Gold closed at 1580, down about 65 for the week.
The people who bought at 1750 last year are getting
VERY nervous now, next week might be a bloodbath.
The people who bought at 1750 last year are getting
VERY nervous now, next week might be a bloodbath.
"It's not called gambling if the math is on your side."
May 11th, 2012 at 11:57:47 PM
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Quote: Boney526With gold, people buy it to guard against inflation.
Some do, but enough are just speculators or buying for other reasons that gold has not been all that great as a hedge against inflation. Speculation can trump all other factors. I would say the pattern more tends to be that gold goes up in times of anxiety. That it did not during the recent European election results is significant.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 12th, 2012 at 12:36:31 AM
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Quote: odiousgambitThat it did not during the recent European election results is significant.
Indeed it is. Very significant. I know somebody who has
$25K invested in gold in the last 12 months. He's beside
himself with anxiety. Multiply him by 100,000 and you get
the general idea.
"It's not called gambling if the math is on your side."
May 14th, 2012 at 1:11:37 PM
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Gold closed today at 1560, down from 1580 on Friday.
The Dow was down 125.
You can hear the stampede of mom and pop feet as
they try and unload what was obviously a very bad
investment. Here's a clue for next time. If you see a
bunch of slick people on TV every day, everywhere
you look, telling you something is a 'good investment',
run the other way. Its good for THEM because they're the
broker.
The Dow was down 125.
You can hear the stampede of mom and pop feet as
they try and unload what was obviously a very bad
investment. Here's a clue for next time. If you see a
bunch of slick people on TV every day, everywhere
you look, telling you something is a 'good investment',
run the other way. Its good for THEM because they're the
broker.
"It's not called gambling if the math is on your side."
May 14th, 2012 at 3:35:13 PM
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Commodity prices are trading broadly lower in European hours as Greece-linked jitters continue to weigh on risk sentiment trends. Growth-sensitive crude oil and copper prices following stocks lower while safe-haven flow buoy the US Dollar , applying de-facto downward pressure on gold and silver .
May 15th, 2012 at 1:33:40 PM
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Gold closed at 1543 today, down 17 from yesterday,
which was down 20 from Friday. Sell sell sell, thats
the word on the street. Do you realize how much gold
must be sold to effect the market this drastically? It
means nobody is buying.
which was down 20 from Friday. Sell sell sell, thats
the word on the street. Do you realize how much gold
must be sold to effect the market this drastically? It
means nobody is buying.
"It's not called gambling if the math is on your side."
May 15th, 2012 at 1:41:34 PM
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Quote: EvenBobIt means nobody is buying.
For every ounce sold, somebody else must be buying it. Still, I've been saying for a few years that gold is a bubble waiting to pop.
My offer still stands to sell two one-once gold coins for $40 above spot each.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 15th, 2012 at 1:46:31 PM
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Quote: Wizardgold is a bubble waiting to pop...My offer still stands to sell two one-once gold coins ...
I'm sending you back to school for more training in sales techniques [g]
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 15th, 2012 at 1:51:47 PM
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Quote: WizardFor every ounce sold, somebody else must be buying it.
Yes yes, if somebody is selling, then somebody is
obviously buying. What I meant is, there's not
a stampede of new people getting into the market.
"It's not called gambling if the math is on your side."
May 16th, 2012 at 6:13:10 AM
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Gold Tumbles Into Bear Market on Greece Euro-Exit Concern
The dollar received a big boost in the last four days as Greek banks began restricting the availability of Euro banknotes. Bullion slid as much as 21 percent from its intraday record in September, the common definition of a bear market.
The dollar received a big boost in the last four days as Greek banks began restricting the availability of Euro banknotes. Bullion slid as much as 21 percent from its intraday record in September, the common definition of a bear market.
May 16th, 2012 at 1:53:02 PM
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Gold closed at 1539, down another 20 from yesterday. Gold
futures hit a 10 month low of 1526.
"Gold prices are nearing major psychological support at the $1,500.00 level.
A move below $1,500 would begin to produce more important long-term technical damage."
'major psychological support' means if it goes below 1500
people will go batshit trying to dump it. Like they aren't doing
that already.
futures hit a 10 month low of 1526.
"Gold prices are nearing major psychological support at the $1,500.00 level.
A move below $1,500 would begin to produce more important long-term technical damage."
'major psychological support' means if it goes below 1500
people will go batshit trying to dump it. Like they aren't doing
that already.
"It's not called gambling if the math is on your side."
May 16th, 2012 at 2:26:16 PM
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"We believe gold will hit $1200 to $1400 per ounce before it hits $2000."
Todd Ganos, Forbes 5/16/12
"The market can stay irrational longer than an investor can stay solvent."
John Maynard Keyes
Todd Ganos, Forbes 5/16/12
"The market can stay irrational longer than an investor can stay solvent."
John Maynard Keyes
"It's not called gambling if the math is on your side."
May 17th, 2012 at 4:23:24 PM
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Quote: EvenBob"We believe gold will hit $1200 to $1400 per ounce before it hits $2000."
Todd Ganos, Forbes 5/16/12
"The market can stay irrational longer than an investor can stay solvent."
John Maynard Keyes
I think the key point there is BEFORE it hits 2000.
I still think Gold and Silver are ready to rally. Today was a good day for that turn around to start. Considering how many bids are being placed on eBay, and the premiums being above usual, I think the price will continue its rise tomorrow. Against I could be wrong on timing, but it will turn around soon.
June 1st, 2012 at 2:18:12 PM
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Looks there is some life left in gold yet. As the stock market is suffering it's worst day of the year on low US job numbers and continuing troubles in the Euro region (and I can personally say, ouch!), gold is back up up to $1626 at present, up from yesterday's close of $1560. Silver is also up to $28.56, from yesterday's close of $27.10.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
June 1st, 2012 at 4:40:36 PM
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a search for safe harbor could save the goldbugs
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
June 11th, 2012 at 10:56:50 PM
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I'm genuinely confused here. Does gold fall with the Euro or rise if the Euro gets weak? I read both things.
Gold prices are vulnerable to weakness in the euro, and consequent gains in the dollar, which makes the metal more expensive for other currency holders.
May 21, 2012
Gold rose nearly 2 per cent to $1,217.60 an ounce in Europe on Tuesday after a ratings agency downgrade of Portugal knocked the euro, boosting the metal's appeal as a hedge against currency market volatility.
Jul 13, 2010
August 13th, 2012 at 1:55:58 PM
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Quote: WizardHere are your predictions.
Member Prediction YoDiceRoll11 $2,776.00 thlf $2,300.00 Johnzimbo $2,131.41 bigfoot66 $2,101.00 pacomartin $2,030.00 WizardofEngland $2,012.31 SONBP2 $2,012.00 mickpk $2,001.00 appistapp1s $1,955.21 calwatch $1,950.00 CrystalMath $1,899.00 Ayecarumba $1,851.02 slyther $1,823.00 ChampagneFireball $1,774.01 dtyst1 $1,654.32 JohnnyQ $1,625.25 minnesotajoe $1,620.00 Asswhoopermcdaddy $1,525.00 AcesAndEights $1,500.00 SOOPOO $1,486.00 duckmankilla $1,436.59 P90 $1,400.00 Gazreal $1,367.43 boymimbo $1,340.00 EvenBob $1,340.00 Avczilla $1,302.00 Scotty71 $1,282.01 Boz $1,280.00 AZDuffman $1,238.46 odiousgambit $1,201.00 ncfatcat $820.00 s2dbaker $642.88
I'm not playing in my own contest, but my unofficial guess is $1300.
It's 1609 today... the massive "bloodbath" seems to have tailed off..
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
August 13th, 2012 at 10:50:50 PM
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That table should have the date the prediction was made. Interesting that it's right about at the median.
August 16th, 2012 at 5:52:15 AM
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Billionaires Soros, Paulson Bet Big on Gold
Paulson & Co. now has 44 percent of its $24 billion fund exposed to bullion. Known for making big bets, between 2007 and early 2009, Paulson invested heavily in the housing market garnering $20 billion in profits, according to the Wall Street Journal.
Paulson & Co. now has 44 percent of its $24 billion fund exposed to bullion. Known for making big bets, between 2007 and early 2009, Paulson invested heavily in the housing market garnering $20 billion in profits, according to the Wall Street Journal.
August 16th, 2012 at 7:56:44 AM
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In which direction have they made the bet, though?
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
August 17th, 2012 at 12:41:51 AM
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3 things are going on now:
*the current traditional gold buying in India has disappointed due to poor rains.
*traditional buying in China [soon] is a wild card
*a lot of speculators expect some "quantitative easing" by various governments soon, which should cause a boost.
I'd say those who predicted in the range of 1500-1700 have put in the best bets for our contest. Should there be no "QE", lower ranges look better.
*the current traditional gold buying in India has disappointed due to poor rains.
*traditional buying in China [soon] is a wild card
*a lot of speculators expect some "quantitative easing" by various governments soon, which should cause a boost.
I'd say those who predicted in the range of 1500-1700 have put in the best bets for our contest. Should there be no "QE", lower ranges look better.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
August 24th, 2012 at 9:22:48 AM
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Gold and silver have both rallied over the last couple days; the best I can tell is due to worries that the Chinese economy is going to get some "help" from its government, and the continuing possibility of the Fed doing the same thing in the US (by "help" I mean printing more currency).
Current price today right now - gold $1669.60/oz. Silver $30.62/oz. I bought 2 ounces from the Wiz at $1710/oz (plus markup). The reason I have added silver to the conversation is entirely selfish, as I also own 300 ounces of silver. 200 of those ounces were purchased around $12/oz, the other 100 ounces around $31. Just need to start stockpiling guns, ammo, and TP and I'll be prepared for the coming zombie apocalypse! (Jokes, jokes.)
Current price today right now - gold $1669.60/oz. Silver $30.62/oz. I bought 2 ounces from the Wiz at $1710/oz (plus markup). The reason I have added silver to the conversation is entirely selfish, as I also own 300 ounces of silver. 200 of those ounces were purchased around $12/oz, the other 100 ounces around $31. Just need to start stockpiling guns, ammo, and TP and I'll be prepared for the coming zombie apocalypse! (Jokes, jokes.)
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
September 2nd, 2012 at 1:20:25 PM
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Bernanke may have put the hex on those of us predicting on the low end.
On the other hand, should we get no QE after all, the collapse should be awesome.
http://www.goldprice.org/spot-gold.html
On the other hand, should we get no QE after all, the collapse should be awesome.
http://www.goldprice.org/spot-gold.html
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
October 1st, 2012 at 12:56:45 PM
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Gold sitting around $1770 today. Here's an interesting article:
Gold is getting less and less of a boost from QE
Short version: Gold may not see a big price bump with QE3 as people are already anticipating it and buying it early to hopefully profit. I think.
Gold is getting less and less of a boost from QE
Short version: Gold may not see a big price bump with QE3 as people are already anticipating it and buying it early to hopefully profit. I think.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
November 8th, 2012 at 9:19:44 AM
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$1720's today...
November 8th, 2012 at 10:42:05 AM
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Quote: slyther$1720's today...
I really wish it would tank, so I could buy some more.
I really don't care about the short term. I'm stockpiling this shit for the zombie apocalypse.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
December 26th, 2012 at 11:05:42 AM
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Quote: AcesAndEightsI really wish it would tank, so I could buy some more.
I really don't care about the short term. I'm stockpiling this shit for the zombie apocalypse.
Well, it's almost over. You may get your wish granted in the coming months, as it looks downhill for gold right now.
I heart Crystal Math.
