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hobdoll

Gold Dropping Fast

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Still not so sure this is the beginning of a 1980-style drop when the price plummetted so rapidly it did not allow people enough time to call in the sell orders before fortunes were lost. Lets hope not eh?

...did you get burned at that drop....?... :rolleyes:

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...did you get burned at that drop....?... :rolleyes:

I got lucky and sold my hoard of Sovs near the top in January 1980 IIRC as I was buying a house at the time. I remember selling an old gold ring to a Tom shop with a sign out front asking to buy gold for top pric etc etc. Same sort of frenzy today.

I was one of the few lucky ones to get out before the big drop--I still remeber that morning when it began. Terrified faces staring in disbelief at fuzzy green screens with flickering numbers with lots of minus signs. Terrible it was--never want to see the likes of that again. oh no--awful....

Can it happen again? If gold is in a new paradigm every drop will be a buying opportunity. ;)

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Fuss over nothing. This is a tiny drop amidst record rises.

You know what they call this in regular trading?

A buying opportunity.

Today wiped out a whole 6 days worth of gains... ohnoes. It's going to get very bumpy & volatile, but QE, inflation, and $5000+ gold prices are coming.

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'A bubble is a bull market in which you do not have a position'.

That is what a lot of EAs were trying to say. Bit like the definition of a recession (your neighbour lost his job) and a depression (you lost yours).

Bull markets can run a long time and then they get tired and collapse. Especially if they have been running a long time.

I am sure gold will rebound in the morning and not remain in a downward trajectory. After all, it is different this time and 1980 was, well, 1980. But you never know these days because its a funny old market where it is best to expect the unexpected.

http://uk.images.search.yahoo.com/images/view?back=http%3A%2F%2Fuk.images.search.yahoo.com%2Fsearch%2Fimages%3F_adv_prop%3Dimage%26va%3Dblack%2Bswan%26fr%3Dyfp-t-702&w=454&h=500&imgurl=farm4.static.flickr.com%2F3179%2F2918402782_e73a6c4f00.jpg&rurl=http%3A%2F%2Fwww.flickr.com%2Fphotos%2Fweepeng%2F2918402782%2F&size=146k&name=black+swan&p=black+swan&oid=792a2bc3cb8a809e&fr2=&fusr=Wee-Peng%3A+gl...&no=1&tt=263911&sigr=11gr84135&sigi=11m61im5v&sigb=12qpb5r7m

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'A bubble is a bull market in which you do not have a position'.

"I can assure you Captain that it is only a small leak and it will not be long before it is fixed and our journey will continue safely."

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day change -$34.30 -2.5%

month +$60.60 +4.75%

year +$271.8 +25.56%

enough perspective?

"I can assure you Captain that it is only a small leak and it will not be long before it is fixed and our journey will continue safely."

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You managed to buy at spot? mind if I ask what and where?

No, at spot + premium for Sovereigns and Maples

Sovs @ £218

Maples @ £19.65

adding to my stack....

Edited by JimDiGritz

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Well I've just taken the advantage and bought £8k of mixed physical @ Gold: £ 849.09 & Silver: £ 14.89

:(

:D

That will be $1333.49 for the gold (1.5702). It closed at $1335 so you are already ahead and the market is now closed.

Sleep well. :)

Seriously though, there is no reason for this point to be where gold finally collapses as everyone is piling in and it has been quite a frenzy of late with all the experts lining up to say it has a long way to go yet. Even George Soros is recommending everyone buy.

http://finance.yahoo.com/news/Gold-May-Rise-But-Is-It-usnews-394308882.html?x=0&sec=topStories&pos=6&asset=&ccode=

Edited by Realistbear

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No, at spot + premium for Sovereigns and Maples

Sovs @ £218

Maples @ £19.65

adding to my stack....

Do you mind letting me know where you bought the Maples from?

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Oh Mi God!

In GBP it's almost as low as it was at....

The beginning of October <_<

Fo sho.

It feels weird buying gold at £900 when I bought most of my stack at £400/450 and most of my silver at £11.

However, a pullback is a pullback.

Once the China news has worked itself through the system it should bounce back to $1380+

:D

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Prices arent pretty. PM me so I dont forget and I will send you a link to a descent supplier.

Did you not even look at coininvest or hgm?

http://www.coininvestdirect.com/en/gold_coins/1_sov_victoria.html

1 Sov. Victoria

Country: Great Britain

Weight: 7.32 Gramm

Purity: 917 / 1000

SELL NETTO PRICE: £218

SELL BRUTTO PRICE (VAT exempt): £218

umm....

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Fo sho.

It feels weird buying gold at £900 when I bought most of my stack at £400/450 and most of my silver at £11.

However, a pullback is a pullback.

Once the China news has worked itself through the system it should bounce back to $1380+

:D

Given that my average purchase price is under 450 GBP and I have in excess of 350toz I'm not too concerned about recent "drops".

I'm glad I followed the "rantings" of yourself, cgnao et al.

Chees m8 :)

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Given that my average purchase price is under 450 GBP and I have in excess of 350toz I'm not too concerned about recent "drops".

I'm glad I followed the "rantings" of yourself, cgnao et al.

Chees m8 :)

:D

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It's a total nightmare. My gold and silver stocks have dropped by 2% of their increase over the past 4 years.

May have to liquidate my positions just to stick with a 298% gain.

Or hold on for 1000% gain over the next 2 years. Such a tough decision.

Well, gold is in a bubble according to the 'experts', just so glad it's not worth anything, just a useless metal, blah blah bah.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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