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crock

Buying Gold - Has It Peaked ? $ 525 - 550 ?

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Should we wait or buy now ?

It's at 502.6 at the moment and to me it looks like it has further to go - but not a lot. One scenario is down to 495 and then building to to a peak of 550 before it is tested again. But your money, your call.

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Guest consa

I am waiting for further pullback, possibly as low as 465 and will wait till after the christmas jewelery buying season and the latest eo Jan.

Then straight up to 600 possibly further with minor pullbacks, there has been talk of 800 or even 3000/ounce

Who knows huh! :unsure:

As above it is your money and your choice - we can all give opinions

I would be interested to hear what Doc thinks.

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I am waiting for further pullback, possibly as low as 465 and will wait till after the christmas jewelery buying season and the latest eo Jan.

Then straight up to 600 possibly further with minor pullbacks, there has been talk of 800 or even 3000/ounce

Who knows huh! :unsure:

As above it is your money and your choice - we can all give opinions

I would be interested to hear what Doc thinks.

Yes, I'm starting to think your lower guess may be right. There's this:

http://www.thebulliondesk.com/content/repo...y/151205ldn.htm

plus reports that physical Asian jewellry buyers have been sidelined for some weeks now, not just in the latest peak.

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I am waiting for further pullback, possibly as low as 465 and will wait till after the christmas jewelery buying season and the latest eo Jan.

Then straight up to 600 possibly further with minor pullbacks, there has been talk of 800 or even 3000/ounce

Who knows huh! :unsure:

As above it is your money and your choice - we can all give opinions

I would be interested to hear what Doc thinks.

with you on holding back a bit consa.I've got funds ready to load up at a good entry point.

....anything sub 480 I will take gratefully,especially with such a genorous exchange rate....I think early-mid january will do it....it's at about $504 now with $1.76/£.

as for gold's peak.....$800 is easily do-able with foreign demand(that equate to about $300/oz in old money at last peak)

if we reach a similar peak this time,throw in a war or two and some global media coverage,and I CAN see $3k!!!!!...can't give a timescale,but could be within 5 years if the fears/greed/hype is large.

Yes, I'm starting to think your lower guess may be right. There's this:

http://www.thebulliondesk.com/content/repo...y/151205ldn.htm

plus reports that physical Asian jewellry buyers have been sidelined for some weeks now, not just in the latest peak.

that little bit wasn't about jewellry per se,it's more to do with the dealers upping the spreads on gold purchase/sale.

while they make a bigger margin it reduces liquidity by chopping potential profit gains........it's only temporary though,people will get used to having to pay a bit more above/below spot by way of a bid/ask.

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with you on holding back a bit consa.I've got funds ready to load up at a good entry point.

....anything sub 480 I will take gratefully,especially with such a genorous exchange rate....I think early-mid january will do it....it's at about $504 now with $1.76/£.

as for gold's peak.....$800 is easily do-able with foreign demand(that equate to about $300/oz in old money at last peak)

if we reach a similar peak this time,throw in a war or two and some global media coverage,and I CAN see $3k!!!!!...can't give a timescale,but could be within 5 years if the fears/greed/hype is large.

that little bit wasn't about jewellry per se,it's more to do with the dealers upping the spreads on gold purchase/sale.

while they make a bigger margin it reduces liquidity by chopping potential profit gains........it's only temporary though,people will get used to having to pay a bit more above/below spot by way of a bid/ask.

That's right. The point about jewellry is a complelety different one drawn from other market commentaries.

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Should we wait or buy now ?

why not dollar cost average ?

no it has not peaked can you se the debt timebomb shrinking. and the structural problems in the world economy unwinding ? inflation is the only acceptable answer... e.g. buy gold / commodities and lots of them.

GOLD

Gold came under pressure early Wednesday as Asian traders; particularly those on TOCOM appeared on the offer following the exchanges decision to increase margins. The yellow metal soon dipped to the $512 area with TOCOM futures trading limit down before seeing a light bounce as the Japanese Tankan data was released

increasing margins is a sure fire way to get people to offload. COMEX also recently increased margins for gold trading

I think 500 will hold though. nothing attracts investment like higher prices ;)

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I was hoping it would dip to $470 so I could load up some more, but it's holding above $500 just now, after a funny little dip under $500.

I remain a true believer in the gold bull. As other posters have pointed out, inflation is the only way out. The recent surge in M3 only underscores this. I am quite surprised at how little interest there is in gold given the attention of passing $500.

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I am quite surprised at how little interest there is in gold given the attention of passing $500.

Ahhhh, but this may be a good sign, especially if Joe Bloggs hasn't twigged. It could mean that there's time to jump on before a full on speculative mania takes hold.

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I was going to buy on Tuesday when it was around $495, but my money hadn't cleared from my savings account. Boo Hoo.

On Wednesday evening, it had gone up to $500 again, and has been there since.

I'm not too sure what will happen in the short term, I would like it to drop so I can get more gold for my money... long term I expect it to be up!

What do you think it will go over the next few weeks? Should I buy now, or leave my cash in a shitty current account?

Edited by Jason

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I was going to buy on Tuesday when it was around $495, but my money hadn't cleared from my savings account. Boo Hoo.

On Wednesday evening, it had gone up to $500 again, and has been there since.

I'm not too sure what will happen in the short term, I would like it to drop so I can get more gold for my money... long term I expect it to be up!

What do you think it will go over the next few weeks? Should I buy now, or leave my cash in a shitty current account?

You'll do your head in trying to time things correctly. Rather than buying one big amount, why not purchase a fixed amount of gold on the same day each month regardless of the price. Sometimes you'll get it cheap, other times more expensive. This is what I do - I buy an ounce on the 1st of each month and pop it into my safe.

If you think gold will go up in the long term, what's a few pounds here or there?

Regards,

crude

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You'll do your head in trying to time things correctly. Rather than buying one big amount, why not purchase a fixed amount of gold on the same day each month regardless of the price. Sometimes you'll get it cheap, other times more expensive. This is what I do - I buy an ounce on the 1st of each month and pop it into my safe.

If you think gold will go up in the long term, what's a few pounds here or there?

Regards,

crude

True. But i'm using gold money, and want to buy £6k worth so I buy it at a cheaper price. I'll then probably leave it for a couple of years until I buy a house! I already have £1.5k worht so far!

I don't like the idea of storing gold in my house. It could be nicked!

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True. But i'm using gold money, and want to buy £6k worth so I buy it at a cheaper price. I'll then probably leave it for a couple of years until I buy a house! I already have £1.5k worht so far!

I don't like the idea of storing gold in my house. It could be nicked!

I'm also buying an ounce/month using Goldmoney on the 1st of each month. I don't like keeping all my eggs (golden ones of course!) in on basket...

I'm not too concerned about my physical gold being nicked - it's stored in a safe, which is bolted to the floor in a out of the way place. I doubt your average house burglar will have the time or skill to get into it + it's not going to be worth the professional "safe crackers" time and effort to get into it should they know it's there.

Regards,

crude

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Crude Fool,

Where do you buy your gold that you can just take it home?

(I use goldmoney.com. It's great, but you don't get to touch it).

And what do people see the price doing in the next week or two? Has it done it's dip now or is that still to come?

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Crude Fool,

Where do you buy your gold that you can just take it home?

(I use goldmoney.com. It's great, but you don't get to touch it).

And what do people see the price doing in the next week or two? Has it done it's dip now or is that still to come?

I tend to use a local coin dealer in Newcastle called Intercoin, whose prices for sovereigns and kruggers is the cheapest I've found. He also doesn't mind me testing the coins before I buy with my Fisch gold coin detector - never found a fake one yet. Chatting with him, he's come across the occasional fake sovereign - they tend to be made out of real gold, but manufactured in the Far East. He's even had one made out of platinum, which he wasn't too upset about (obviously made a good while back, before platinum was more expensive than gold!).

Goldline are also very good and trustworthy having been in the business many years. There's always eBay, but I personally wouldn't buy anything as expensive as gold off it, although I'm sure there's plenty of trustworthy gold sellers on the site. I do however use eBay to buy silver coins....

In terms of short term price - who knows? It's up and down like a yoyo! As I said in an earlier post, you'll do your head in trying to get your timing right. I personally think gold will go up in the long term, so will continue buying 50% physical and 50% Goldmoney.

Regards,

crude

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For the TA buffs:

We're add an interesting juncture right here. Was the move to 540 a blow off top? And are we in a corrective wave B of a down move. My EW skills are rudimentry at best, but that scenario says next wave down starts about here as we are at the 50% retracement level of the A(?) wave... or goes to to 61.8% at ~525 and moves down.

I hope this is dead wrong cause I'm long some ZGG06, but I'm suspicious in the near term.

Long term though, I agree the only way is up.

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post-3500-1135785956_thumb.jpg

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WayneL and others, if we are in a corrective Wave B of a down move, as several experts seem to agree we are, to roughly what level would gold sink, according to EW theory, before it starts its next rise?

And how long is each wave - ie how long would it take to sink before it starts rising again?

Edited by Frizzers

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WayneL and others, if we are in a corrective Wave B of a down move, as several experts seem to agree we are, to roughly what level would gold sink, according to EW theory, before it starts its next rise?

And how long is each wave - ie how long would it take to sink before it starts rising again?

I don't actually use EW as a predictive tool. Prediction is a mugs game IMHO. Rather I use it as a map of whats happening NOW in the context of it's recent moves. What I am doing is trying to select low risk points to trade at.

Anyways, we are too early to call this a corrective wave, and, which type of corrective wave it is, if it is. It's all very subjective until after the fact as there are several types of correctives. Also there are waves inside waves. Correctives inside impulses, impulses inside correctives etc.

A wild (and I mean WILD) guess would be somewhere between 460 & 485.

Cheers

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I don't actually use EW as a predictive tool. Prediction is a mugs game IMHO. Rather I use it as a map of whats happening NOW in the context of it's recent moves. What I am doing is trying to select low risk points to trade at.

Anyways, we are too early to call this a corrective wave, and, which type of corrective wave it is, if it is. It's all very subjective until after the fact as there are several types of correctives. Also there are waves inside waves. Correctives inside impulses, impulses inside correctives etc.

A wild (and I mean WILD) guess would be somewhere between 460 & 485.

Cheers

Oh, I know. I was just asking how far ir should sink, according to the theory. If we nearing a high point of corrective wave B, is the next low point below the previous low point that has just been corrected? Gold sank to about 490 efore its rise to about 518. If the waves have been correctly read, does the theory read that it should now go on o dip below 490 (460 to 485, as you say).

Cheers.

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  • 301 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
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      • up 5%



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