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gazwheat

Whats Happening To Gold?

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What the hell is happening to gold? Its currently down to $540/oz. I'm in it for the long term but I'm still a bit worried. Will it rebound? Will it ever break through the $600 barrier?

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I dunno. It's down big time.

I'm now at £0.40 profit of £7.5k investment. Down 3.84% on my silver too -£1k invested.

Lol.

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I don't think it's just gold, looks like a lot of commodities have been dropping in the last week or so. Whether it's just a long-overdue correction or something more serious (e.g. US rate hikes making people pay off debts and reducing the flood of dollars) is another question.

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Nice little spinal test for you.... can you hack it when the trend runs against you for a few days? Remember; to make any kind of money, at some point you have to stand by your market view facing the teeth of evidence that you are wrong. But I don't see what the big deal is. Gold has gone up exceeding my wildest dreams since last August, it hardly surprises me that there is now a pull-back. Opinion holds this will last into March before we start to see some pick-up again.

Keep an eye on the fundamentals - price of oil, loose fiscal regimes, doubts regarding the stability of the global financial system, recognition of e-gold as a currency. If you are genuninely in it for the long term a little set-back like this is no cause for concern.

Edited by malco

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Or have you misjudged the fundamentals as in any investment, or even made an investment based on bullish talk by others without doing your homework is another side to the coin one has to look at.

If one was in it for the long term and had a firm grasp of the underlying reasons, why worry at all?

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My advice: start buying if it gets down to anywhere below £300/ounce.

And then sit tight. It might even go down to £275 without damaging the bullish technical picture but I don't believe it will go so low. If it does, it will be the last opportunity to load the boat.

Good luck!

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My advice: start buying if it gets down to anywhere below £300/ounce.

And then sit tight. It might even go down to £275 without damaging the bullish technical picture but I don't believe it will go so low. If it does, it will be the last opportunity to load the boat.

Good luck!

I am not worried at all. even if I make a loss of £50 to £100. Because I know for sure that nothing beats Gold.

I have already invested over £30k in Gold since 1st Jan. I am currently in negative but I will double my position as soon as it hits £300/oz.

I have kissed that paper money goodbye and now I am at war with western banking systems. Current banking systems will be crushed by the gold standard. Do you know why? because Gold is not man made but it is made by God.

I have my dad's iraqi dinnars and look at the value that paper did to my father's 6 million dinnars. by the way 3 dinnars used to buy you 1 GBP in 1990.

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My advice: start buying if it gets down to anywhere below £300/ounce.

Yeah, that's when I'll start to think about shifting the rest of my free savings over. Particularly if the BoE report comes out before then and it looks like they're thinking of cutting rates.

Long-term (5-10 years) it's hard for me to see how the pound can rise against gold, but I'm more concerned with protecting my savings over the next couple of years...

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If one was in it for the long term and had a firm grasp of the underlying reasons, why worry at all?

I am in it for the long term and I have every faith in the performance of gold. I'm just a worrier at heart.

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I am in it for the long term and I have every faith in the performance of gold. I'm just a worrier at heart.

Have you brougth physical gold, or a ETF based derivative or used Gold money etc? I can see some reasons for gold, but still need to do some rooting around personally. IM not too keen on the liquidity of real gold, i think the margins Id have to pay for buying and selling to some dealer would wipe out upsides if the apparent bull market didnt materialise. Saying that I suppose theres less downside risk or it devaluing completely and if usedpurely to hedge rather than speculate.

Hhhhmmm decisions decisions

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Guest Bart of Darkness

I am not worried at all. even if I make a loss of £50 to £100. Because I know for sure that nothing beats Gold.

I have already invested over £30k in Gold since 1st Jan. I am currently in negative but I will double my position as soon as it hits £300/oz.

I have kissed that paper money goodbye and now I am at war with western banking systems. Current banking systems will be crushed by the gold standard. Do you know why? because Gold is not man made but it is made by God.

I have my dad's iraqi dinnars and look at the value that paper did to my father's 6 million dinnars. by the way 3 dinnars used to buy you 1 GBP in 1990.

"now I am at war with western banking systems", I like the cut of your jib my friend.

My advice: start buying if it gets down to anywhere below £300/ounce.

And then sit tight. It might even go down to £275 without damaging the bullish technical picture but I don't believe it will go so low. If it does, it will be the last opportunity to load the boat.

I think you may be spot on there.

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My advice: start buying if it gets down to anywhere below £300/ounce.

And then sit tight. It might even go down to £275 without damaging the bullish technical picture but I don't believe it will go so low. If it does, it will be the last opportunity to load the boat.

Good luck!

Indeed! Any bullish technician will be happy about this retracement. It's a natural part of any trend. Pull up any rising instrument and you will see the same thing.

Cheers

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Guest Riser

Hmmm, let me guess. All the STR money gone into gold?

<_<

Much better return than property since last August :D

Miners shares could be on the turn, is this the end of this correction or a false dawn?

FTSE boosted by miners, British Land

..Mining stocks crowded the list of early blue-chip risers, with Rio Tinto up 1.7 percent, and BHP Billiton and Xstrata (XTA.L: Quote, Profile, Research) up by about 1.5 percent each. Dealers said a recent sell-off triggered by easing commodity prices had been overdone...

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What the hell is happening to gold? Its currently down to $540/oz. I'm in it for the long term but I'm still a bit worried. Will it rebound? Will it ever break through the $600 barrier?

I make no warranty for it's content, but read this article gazwheat, you'll find it soothing.

http://www.ameinfo.com/77823.html

......and you might just start hoping that gold will fall back to $520 in the next few weeks like I am ( and Iv'e been buying ever since the price was way back at $380 )

By the way as an anecdote when I'd been buying some ingots at $385 a few weeks later I wandered back in to the dealer to buy some more, the price had risen to $425, "selling some sir" enquired the dealer...... I looked at him like he was insane "why on earth would I sell Gold?" :rolleyes:

By the way, just so you know the correction is being driven largely by Japanese retail investors offloading Gold. They are one of the most reliable contrarian indicators of any market.

Edited by timmy_30

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The correction is seasonal. A peak is usually observed at the end of January.

Gold is currently above its 200 day moving average which currently stands at 460$.

For this reason, a correction reducing the gap was expected.

The important thing to note, however, is that the 200 day moving average has recently started rising

rapidly (at a current rate 10$/month) ever increasing. Many inestors are willing to pay a premium

for gold since the increase has taken a parabolic form, implying that gold is excellent long term investment. At what point will gold meet its moving average? 520? 540? no one knows. I personally

do not expect gold to fall below 520 because the secret is out know. As it was suggested by

MarkG it is reasonable to expect a static picture until March.

The correction is seasonal. A peak is usually observed at the end of January.

Gold is currently above its 200 day moving average which currently stands at 460$. For this reason, a correction reducing the gap was expected.

The important thing to note, however, is that the 200 day moving average has recently started rising rapidly (at a current rate 10$/month) ever increasing. Many inestors are willing to pay a premium for gold since the increase has taken a parabolic form, implying that gold is excellent long term investment. At what point will gold meet its moving average? 520? 540? no one knows. I personally do not expect gold to fall below 520 because the secret is out know. As it was suggested by MarkG it is reasonable to expect a static picture until March.

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My advice: start buying if it gets down to anywhere below £300/ounce.

And then sit tight. It might even go down to £275 without damaging the bullish technical picture but I don't believe it will go so low. If it does, it will be the last opportunity to load the boat.

Good luck!

absolutely.This correction is purely technical.if you have a look at the 50/200 day moving averages then we hit fair value between $500 and $530....the long term trend is still up,and at 4 years old,this bull market is just a baby...the average length of a commodity bull run is 12 to 15 years.....so we will get a good buying opportunity now,but when phase 2 kicks in(probably late march),we will see MUCH more aggressive upside to gold.

I too will add at less than $530...obviously I'll be watching intraday and exchange rates when we hit or fall below to get the best price possible.

...one other point,if you do go for physical then sovereigns/brittannias are the best bet.

I checked out the IR website regarding tax legislation on these and post 1837 minted bullion of this kind is still classified legal tender and so exempt from CGT.

...for the extra £20 premium on 1oz coins I thinks it's well worth it.

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absolutely.This correction is purely technical.if you have a look at the 50/200 day moving averages then we hit fair value between $500 and $530....the long term trend is still up,and at 4 years old,this bull market is just a baby...the average length of a commodity bull run is 12 to 15 years.....so we will get a good buying opportunity now,but when phase 2 kicks in(probably late march),we will see MUCH more aggressive upside to gold.

I too will add at less than $530...obviously I'll be watching intraday and exchange rates when we hit or fall below to get the best price possible.

...one other point,if you do go for physical then sovereigns/brittannias are the best bet.

I checked out the IR website regarding tax legislation on these and post 1837 minted bullion of this kind is still classified legal tender and so exempt from CGT.

...for the extra £20 premium on 1oz coins I thinks it's well worth it.

Where can you buy these coins?

Also, looking at goldmoney the price is $1 - 9,999 Standard Rate $18.205 $566.23 GoldMoney Members $18.030 $560.79

where as goldline.co.uk is $540.500.

Why is goldmoney dearer?

Edited by Anti_Claus

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Where can you buy these coins?

Also, looking at goldmoney the price is $1 - 9,999 Standard Rate $18.205 $566.23 GoldMoney Members $18.030 $560.79

where as goldline.co.uk is $540.500.

Why is goldmoney dearer?

Sovereigns gave the best B/O spread from my research. Bairds (020 8555 5217) offer them at 3.3% over spot for reasonable volume....thats really not bad. Daily fluctuations can easily be more than that. They buy back at 1.5% below spot (also not bad), so if you invest then market has to rise about 4.8% for you to be in the money.

Good luck.

JP.

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