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Charlie Don't Surf

Gold's Off Again

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Just checked on the price of gold and it's currently at $526 and rising. Am very tempted to dump all my gold if it goes above $530 and hope there's a pull back.

Any thoughts?

dunno what do you think...it seems to be flying at the moment.

Has anyone with more expereince got an opinion? Could there be a pullback or are we sitting by and watching the boat sail?

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dunno what do you think...it seems to be flying at the moment.

Has anyone with more expereince got an opinion? Could there be a pullback or are we sitting by and watching the boat sail?

I don't think this is the time to be overly concerned about pullbacks. We are in a long term gold bull (IMHO) fill your boots with gold stocks, it's the trade of the decade - don't miss the boat! (again) :rolleyes:

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Just checked on the price of gold and it's currently at $526 and rising. Am very tempted to dump all my gold if it goes above $530 and hope there's a pull back.

Any thoughts?

Depends why you have gold. Personally I am in this one for the long term. After it has gone exponential and then stuck on the top plateau, then I will get out, and get out fast. In the 1980 bull gold stayed above $800 for only about a week before it collapsed. So exit action is something you will certainly have to plan for and be ready to move FAST to get out on the summit or near it. But my feeling is the factors driving gold are going to be with us for many years; slack financial conditions and fuel shortages, plus maybe the chickens coming home to roost if there is some kind of fundamental failure in the financial system. I am as naive a guy as the next when it comes to investing, but I recognised gold was the place to be back in the summer and so far my beginner's luck has held.

Unless you are consciously in gold to trade the ups and downs I see no reason to sell now.

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As an uber-bear I'm not sure that we won't end up with the inevitable fiat collapse and a reinstatement of, at least partial, gold-backing for currencies, or a switch away to private gold-backed currencies.

Then the plateau will be here to stay.

The million dollar question is - is this the cycle that will see fiat fail?

I wonder if in such a scenario it would become a patriotic duty to hand over all privately held gold?

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Should there be any reason why gold wouldnt behave similarly to a dipping/peaking share price?

People were expecting gold to hit 500 something in jan/feb and it got there a whole lot sooner - and now this bounce upwards also seems to be happening a lot quicker... quite hard to tell whats going on!

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Don't bother trying to time pullbacks etc. You will fail, and lose money on spreads and dealing fees. Just go with the fundamentals - which is definitely up.

Tonification, I'd consider a new avatar, I agreed with what you said, but I saw Phil and I felt a shiver of mistrust haze over what you were saying. I must have picked up an association, time for the electric shock therapy! :D LOL!

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Don't bother trying to time pullbacks etc. You will fail, and lose money on spreads and dealing fees. Just go with the fundamentals - which is definitely up.

no you won't!!!........pullback here as predicted within a day.

my tools for prediction on the charts are moving averages and relaive strength index.

when I had a look on 3/1 moving average sat at $517 and RSI was sitting at nearly 80.....time to sell I thought.

fundamentals still very good for gold.keep a close eye on the middle east stuff,that will be a guaranteed trigger for leg 2.

Edited by oracle

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no you won't!!!........pullback here as predicted within a day.

my tools for prediction on the charts are moving averages and relaive strength index.

when I had a look on 3/1 moving average sat at $517 and RSI was sitting at nearly 80.....time to sell I thought.

fundamentals still very good for gold.keep a close eye on the middle east stuff,that will be a guaranteed trigger for leg 2.

now you tell me <_< I have just bought (OK not a lot but still...)

I don't understand your post - i'm no economist. Could you please explain to me what '3/1' and 'RSI' mean.

When you say time to sell.....fundatmentals for gold good....do you mean it is good or bad for gold.

I want to learn - could you please explain.

Thanks

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If you bought when it was high then after it's fallen, buy some more, that way your break even point is somewhere between the two.

Cheers :)

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now you tell me <_< I have just bought (OK not a lot but still...)

I don't understand your post - i'm no economist. Could you please explain to me what '3/1' and 'RSI' mean.

When you say time to sell.....fundatmentals for gold good....do you mean it is good or bad for gold.

I want to learn - could you please explain.

Thanks

sure.

3/1 was 3rd january.

RSI is relative strength index,it's a tool for analysing stock charts.

...in pretty basic terms it goes from 0 to 100 with 2 lines usually drawn at 20 and 80.

most of the time when the index rises above 80 it's a sign to sell your stock or go short,likewise below 20 usually indicates a buying opportunity....have a look on advfn.co.uk,or tradertom.com.

.....worth bearing in mind don't take this as gospel,you must look at other indicators like moving averages,trading volumes and such....and fundamentals(what I mean by this is what are the reasons for buying the stock,are these reasons going to become more powerful,and how big are the risks of it going down........it's all about making the most money with a risk that is manageable),before committing yourself.

right now you would look at property and deduce that the risk of losing money is quite high,the returns if you do get profit are small and there are better opportunities to make more elsewhere....so that's a sell!

...if you haven't done so already and want a bit of fun without risking the house there are a couple of good share sites that will allow you to build up a "fantasy" portfolio for you to invest in and keep track of.I'd recommend them.

Edited by oracle

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sure.

3/1 was 3rd january.

RSI is relative strength index,it's a tool for analysing stock charts.

...in pretty basic terms it goes from 0 to 100 with 2 lines usually drawn at 20 and 80.

most of the time when the index rises above 80 it's a sign to sell your stock or go short,likewise below 20 usually indicates a buying opportunity....have a look on advfn.co.uk,or tradertom.com.

.....worth bearing in mind don't take this as gospel,you must look at other indicators like moving averages,trading volumes and such....and fundamentals(what I mean by this is what are the reasons for buying the stock,are these reasons going to become more powerful,and how big are the risks of it going down........it's all about making the most money with a risk that is manageable),before committing yourself.

right now you would look at property and deduce that the risk of losing money is quite high,the returns if you do get profit are small and there are better opportunities to make more elsewhere....so that's a sell!

...if you haven't done so already and want a bit of fun without risking the house there are a couple of good share sites that will allow you to build up a "fantasy" portfolio for you to invest in and keep track of.I'd recommend them.

Thank you very much :)

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Is the general feeling among the experts here that gold is still a good buy? If so is it worth waiting for a further drop or is it likely to hit £6 soonish?

I know I'm asking for someone with a crystal ball :)

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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
      • up 2.5%
      • up 5%



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