zebbedee Posted July 11, 2011 Share Posted July 11, 2011 (edited) RB said $1374 for the top in gold but its $180 higher than that and going ballistic-quite possibly >£1000toz this week at the rate of things. I sold out on his advise what should I do Fark me that was quick, lasted less than 7 minutes on the main board Edited July 11, 2011 by zebbedee Quote Link to comment Share on other sites More sharing options...
tuckster Posted July 11, 2011 Share Posted July 11, 2011 RB said $1374 for the top in gold but its $180 higher than that and going ballistic-quite possibly >£1000toz this week at the rate of things. I sold out on his advise what should I do Fark me that was quick, lasted less than 7 minutes on the main board :-) There is a reason why you buy and hold with gold. I would not expect new highs in USD for another 4-6 weeks, but you never know when something will happen. And when you are in the UK, the pound price of gold is what you pay. Basing the top in gold on the dollar price can be expensive. In my experience, the dollar price leads and the pound gains lag. Then the pound gains continues whilst USD price consolidates. Of course - it would be just as easy to see the pound price lead and dollar price lag followed by dollar increases when pound price is consolidating. It all depends on your start point. If housing is a derivative based on interest rates, then gold is a derivative based on the stupidity of governments. Logic says to me that there is only one side of that trade at the moment. The other side is a bit too crowded by the governments of the world and all of the crack addicts selling the booty of their weekends work for 50% of its value to a man in a high st stand.......... Quote Link to comment Share on other sites More sharing options...
SEW247 Posted July 11, 2011 Share Posted July 11, 2011 Feeling smug today having loaded up on Krugerrands 10 days ago - already up £70 each!!! It looks like Italy is under attack now - will be interesting to see what the Germans do next. Quote Link to comment Share on other sites More sharing options...
SaintJay Posted July 11, 2011 Share Posted July 11, 2011 Feeling smug today having loaded up on Krugerrands 10 days ago - already up £70 each!!! It looks like Italy is under attack now - will be interesting to see what the Germans do next. Invade. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted July 11, 2011 Share Posted July 11, 2011 Feeling smug today having loaded up on Krugerrands 10 days ago - already up £70 each!!! It looks like Italy is under attack now - will be interesting to see what the Germans do next. The big one I'm waiting for is when America is under attack, this European thing is a side show in comparison, albeit an interesting one. Quote Link to comment Share on other sites More sharing options...
General Congreve Posted July 11, 2011 Share Posted July 11, 2011 New high in the Euro and Pound today. Well not the Euro and Pound, the price of gold in Euro's and Pounds. We've broken that all important €1100/Oz barrier and are only around £25 away from £1000/Oz. Dollar price is still only a miserly $1545/Oz though, so Unrealist Bear can take some comfort that the assault on $1600/Oz isn't likely imminent today. Bottom line is that most of the world faces austerity-driven collapse or debt-driven collapse, one or the other is inevitable. Both are levellers of fiat currency and, especially as this is global, both are therefore very bullish for gold (and silver). I was concerned they'd allayed problems for a few months with the latest Greek bailout agreement, but seems Italy (a much bigger and even more intractable problem) has been only too ready to step up to the plate. Coupled with the US debt ceiling issues, things are getting interesting fast. Show time before Christmas with any luck Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted July 11, 2011 Share Posted July 11, 2011 I was concerned they'd allayed problems for a few months with the latest Greek bailout agreement, but seems Italy (a much bigger and even more intractable problem) has been only too ready to step up to the plate. Coupled with the US debt ceiling issues, things are getting interesting fast. It's a big plate, lots of tasty fiat sandwiches to go round and the Americans are the hungriest of the bunch Quote Link to comment Share on other sites More sharing options...
Spot Posted July 11, 2011 Share Posted July 11, 2011 No, no, no! This isn't very good. I want the price to go down so I can stock up on 1/4 oz Britannias! I'd planned to do it when the price went down to about £926 / oz a at the beginning of the month but life got in the way. D'oh! Quote Link to comment Share on other sites More sharing options...
BlinkTooFast Posted July 11, 2011 Share Posted July 11, 2011 Feeling smug today having loaded up on Krugerrands 10 days ago - already up £70 each!!! It looks like Italy is under attack now - will be interesting to see what the Germans do next. I bought two half Krugerrands at the school car boot sale for £10. Seller wanted £15 and I tried to barter down to £5 on the basis they had been made into brooches and were ruined, but she wouldn't have it because they looked quite old and probably valuable. Quote Link to comment Share on other sites More sharing options...
zebbedee Posted July 11, 2011 Author Share Posted July 11, 2011 I bought two half Krugerrands at the school car boot sale for £10. Seller wanted £15 and I tried to barter down to £5 on the basis they had been made into brooches and were ruined, but she wouldn't have it because they looked quite old and probably valuable. You lucky lucky barsteward Quote Link to comment Share on other sites More sharing options...
General Congreve Posted July 11, 2011 Share Posted July 11, 2011 (edited) No, no, no! This isn't very good. I want the price to go down so I can stock up on 1/4 oz Britannias! I'd planned to do it when the price went down to about £926 / oz a at the beginning of the month but life got in the way. D'oh! Right now, waiting for a better entry point is like picking up pennies in front of a steam roller, in fact it has been for a long time... You might be lucky, but to be honest, the best policy is to buy now and keep buying into the bull market when you can. That will smooth out any volatility going forward and ensure you're not left on the sidelines when it all goes BANG! Big things are afoot, we are approaching lift off, you have been warned. Edited July 11, 2011 by General Congreve Quote Link to comment Share on other sites More sharing options...
warpig Posted July 11, 2011 Share Posted July 11, 2011 You might find this interesting... Demand for gold is on the up irrespective of what's happening in EU. Word has it that 10oz mini-contracts will be available and the exchange is schedule to come online in Q4 2011. Many are sighting this as a game changer. BTW - Nice to hear people talking positively about gold here! Quote Link to comment Share on other sites More sharing options...
Spot Posted July 11, 2011 Share Posted July 11, 2011 Right now, waiting for a better entry point is like picking up pennies in front of a steam roller, in fact it has been for a long time... You might be lucky, but to be honest, the best policy is to buy now and keep buying into the bull market when you can. That will smooth out any volatility going forward and ensure you're not left on the sidelines when it all goes BANG! Big things are afoot, we are approaching lift off, you have been warned. I'm smooth. I've been buying since 2004 Back in the good old days when a Sov was £60. Still like to try and buy in the dips though...... Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted July 12, 2011 Share Posted July 12, 2011 I bought two half Krugerrands at the school car boot sale for £10. Seller wanted £15 and I tried to barter down to £5 on the basis they had been made into brooches and were ruined, but she wouldn't have it because they looked quite old and probably valuable. Brilliant. They fact you bartered this guy down is absolutely hilarious, talk about the buy of a lifetime, shame he didn't have a box full. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted July 12, 2011 Share Posted July 12, 2011 No, no, no! This isn't very good. I want the price to go down so I can stock up on 1/4 oz Britannias! I'd planned to do it when the price went down to about £926 / oz a at the beginning of the month but life got in the way. D'oh! I was looking for £900 an Oz to buy quite a bit more - been accumulating too much filthy fiat recently that I want shot of. The Italians have arrived earlier than expected, shame really as with Greece calming down there was only the US debt ceiling dog & pony show upsetting things. That nice calm slowly drifting down summer we heard so much about just isn't happening though. Quote Link to comment Share on other sites More sharing options...
bingobob Posted July 12, 2011 Share Posted July 12, 2011 RB said $1374 for the top in gold but its $180 higher than that and going ballistic-quite possibly >£1000toz this week at the rate of things. I sold out on his advise what should I do Fark me that was quick, lasted less than 7 minutes on the main board Looks like the long overdue correction is here! Hope no one got burnt too badly! Quote Link to comment Share on other sites More sharing options...
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