Hunt brothers did that to silver. You need a lot more cash to do it in the gold market.
Only one guy I know would be able to pull that off, and would have the lack of scruples to do it.
And Tim, it 'warms my heart' to see gold rise, "along with the market".....I'm into the market with my pension fund. If that fails, I lose a lot more.
So I need both.
If one stayed stagnant, I'd rather it be the market.
I have no control over any of it, so 'not' making money on gold, wishing it would fall when your invested in it, would really not be a smart move. I let the world sort itself out. I'm not the one degrading the dollar, and I'd be a fool to pass up a good investment.
Maybe I should have put it....'warms my heart to make money'....
Right now, my 'money' is on gold, but I'm watching it like a hawk, with my return box and tubes, all set to mail...and 'Northwest Territorial Mint' is on speed dial.
But I expect a drop, then a climb up to $2000 - $2500, at least.
Owning physical gold allows you to ride out the drops, you just don't make as much on the rise. Paper is dangerous, when you don't have the big bucks. They 'feed' off the day traders.
If silver goes much lower, it could be a good buy. Where else you gonna put new money? If you don't have gold, it's probably too late.
Anyone got any ideas for a small investment, I'm listening....but I never hear anything when I ask...
I'm watching silver.