If the US price of gold goes to $3000 dollars or higher, then 37 cents is way short of the potential true value of RED 5. This all depends on the prospect of a U.S. recession in 2024 and a hard landing. Dont listen to US Government officials or major banks like Goldman's as they have a vested interest in painting a rosey picture. If you Google " Potential for a US recession in 2024" lots of informed commentary will come up about why a massive financial reset is imminent. The US is the worst culprit for debasing its own currency but many G20 countries around the world are not much better. Gold ALWAYS preserves wealth so there will be a flight to it as a safe haven. Bitcoin will probably do quite well too because it cannot be created on a printing press.
Anecdotally, if you look at past history and the performance of gold in troubling financial times, it generally out performs very quickly and never settles at its old price. Some commentators have recently likened the current economic signals in the U.S. as almost identical to the 1970's when gold re-valued exponentially. Central Banks have been buying gold to bolster their financial credibility for the past 18 months presumably because they can see storm clouds on the horizon. China has gold reserves possibly three times higher than what they publically admit, so l am told.
Sorry for the long answer but the case to hold gold, or in my own case - robust gold mining company stocks that have good economic reserves - is very tightly tied to the performance of the worlds reserve Fiat currency. This as many know, is on life support. Personally l would not be selling any of my RED 5 holdings even if the SP passes 50 cents. The other dimension to your question about not being too greedy implies to me that you think RED 5 stock will peak and suddenly drop off. l doubt this will happen in the next 5 years if you understand what is confronting the Western Worlds economies. So no hurry to exit prematurely and throw away even more capital appreciation. Where Red5 shares eventually settle, l have no idea because it depends on how bad things get globally with many variables that can affect this.
l am pretty sure gold is on the verge of a new and sustained break out, so just sell dribs and drabs if you need to. Thats my strategy for a long term hold, unless things like a merger or buy out ruin the party. On a final note, l have read view points from leading economists with PHD's that think gold could easily settle between US $5000 to $20,000 if there is a return to some form of gold backed reserve currency. Such high pricing for gold would be needed to cover the existing debt in circulation. Governments wont voluntarily return to any form of gold standard because it constrains Government spending but society might demand this as people in the street refuse to accept Fiat paper.
Governments world over are quietly evaluating block chain currencies that are programmable. Unfortunately my understanding is this can be manipulated centrally by governments for TOTAL control of their populations. Hence, a gold backed currency is probably most appealing. These are just some of the reasons why a new resurgence in gold is likely to last a long time. Cheers.
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Last
37.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.516B |
Open | High | Low | Value | Volume |
37.5¢ | 37.5¢ | 36.3¢ | $3.049M | 8.262M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 269461 | 36.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.0¢ | 805057 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 269461 | 0.365 |
33 | 1102901 | 0.360 |
14 | 1210744 | 0.355 |
26 | 865809 | 0.350 |
19 | 961214 | 0.345 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 794302 | 9 |
0.375 | 916015 | 21 |
0.380 | 937278 | 17 |
0.385 | 1272521 | 13 |
0.390 | 1292838 | 17 |
Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
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