244
Russia Puts Giant State Diamonds Up for Auction After Record Gold Selloff (united24media.com)
submitted 3 weeks ago* by to c/world@lemmy.world
34 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 1 point 2 weeks ago (1 child)

Just picking an arbitrary date to figure growth isn't very helpful, for example I could pick 6 months ago and they would be down by 44%.

Lol. Note this point in my original post, which was directly quoted by you in your response:

I put everything I owned into a 2x gold ETF back in June 2024

Note that gold has just broken out, as Russia's selling is no longer suppressing the price. My model leads me to expect to see gold make a new all time high above $5600/oz before year end, about a 30% rise from where it is at today, and to top $15K/oz before the end of 2027, though the actual peak in this time frame may well be in the $20k-25K/oz range.

Also, by "shit hit the fan" I meant the economic unwinding of the U.S. and the damage to the world economy coming within in a year. It may take a few more years before WWIII actually gets rolling. I don't have a good model for forecasting that.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 1 point 2 weeks ago

    Note this point in my original post, *which was directly quoted by you in your response

    Which is still an arbitrary date when evaluating trends......

    gold has just broken out, as Russia's selling is no longer suppressing the price

    The price of gold wasn't being affected by Russia selling gold, it was because the market determined interest rates were going to raise or remain flat. That and there was a couple spike in treasury bond yields.

    My model leads me to expect to see gold make a new all time high above $5600/oz before year end, about a 30% rise from where it is at today, and to top $15K/oz before the end of 2027, though the actual peak in this time frame may well be in the $20k-25K/oz range.

    My dude...... The knowledge that you would need to make a working model would also prevent you from long term investing in a leveraged etf.

    I just hope you aren't trading on margin. Good luck in your endeavors, but please try to not get other people roped in on your gambit.

  • permalink
  • fedilink
  • source
  • parent