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Redtony

Gold Down To Lowest Yet

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Read an article a coupld of week back where a chappie observed that gold had bounced off its 200day Moving Average during the 70s - 80s gold boom, every time that gold 'corrected' in the 2nd phase of the bull (which he reckons we are now entering).

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down $622

Gold is now $622 and I'm getting a bit worried. I bought bullion at $700 thinking it was going to keep rising. I'm a bit concerned that I bought at peak.

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Gold is now $622 and I'm getting a bit worried. I bought bullion at $700 thinking it was going to keep rising. I'm a bit concerned that I bought at peak.

I nearly bought at $700 also believing that the trend would continue - I am

thankfull I didnt and unsure now if I would invest in gold. As someone said in previous

post, Only invest 10% of capital in any portfolio , good advice especially with Gold.

Edited by Redtony

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Imagine if property had fallen 10% and we now substitute 'gold' with 'property':

I nearly bought at £250K also believing that the trend would continue - I am thankful I didn't and unsure now if I would invest in property.

It's interesting how something that was perceived as a sure fire punt at £x can turn into an unattractive purchase at £x-y.

No disrespect intended Redtony. I just find the human psychology (that we all suffer from to some extent) fascinating.

Good point, a lesson to be learnt !

Edited by Redtony

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I too considered buying ~£700 - glad I didn't.

Hope cgnao has taken some profits out.

Im only about 15% down on gold /silver and i only have 50% of my net worth in it :lol: Shares down 30%, thank f*ck for my ISA :lol: Im not to fussed though, im in it for the long term its my pension :lol:

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Thanks for the graph...

Question though and it's been bugging me...all these figures are hypothetical btw...

I buy 1 oz of gold at $1000

USA Devalues their currency so $1 is now worth the equivelent of 80 cents

Does that make the value of my gold in real terms $800 or $1200 ?

Or is 1 oz an ounce?

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Thanks for the graph...

Question though and it's been bugging me...all these figures are hypothetical btw...

I buy 1 oz of gold at $1000

USA Devalues their currency so $1 is now worth the equivelent of 80 cents

Does that make the value of my gold in real terms $800 or $1200 ?

Or is 1 oz an ounce?

If you buy 1 oz of gold at $1000 and USA devalues to 80 cents then you could buy back more dollars because they are cheaper. Things which are priced in dollars are also cheaper so with your gold you could buy things cheaper. Look at gold like buying a differnt currency.

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If you buy 1 oz of gold at $1000 and USA devalues to 80 cents then you could buy back more dollars because they are cheaper. Things which are priced in dollars are also cheaper so with your gold you could buy things cheaper. Look at gold like buying a differnt currency.

Ahhhh I see

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While I didn't buy any gold, I sort of mentally bought gold when I posted in this forum some time ago. That would have been at about £550. I note gold is coming down again after rallying a bit a few days ago. So, have I now seen a "sucker's rally" at close quarters? I'd like to think that I would have sold when it went back down under £700 again, perhaps at £670 or so. But not having any gold, that's all theoretical.

It's been a long time since I read one of those articles saying that £2000 gold was possible, and £1000 was probable in the near future.

Billy Shears

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Gold is now $622 and I'm getting a bit worried. I bought bullion at $700 thinking it was going to keep rising. I'm a bit concerned that I bought at peak.

You did. Or almost. But not to worry. It will be back up there sooner or later. I bought back in around 680. The next day it dropped again like a stone. These things happen. It's just a correction. Even though it may have a bit further to go, you can be sure it'll bounce back. Probably. Wish I had more cash to buy now rather than next month. Read the kitco comentaries. These guys are generally good. They know their stuff. They enticed me back in 2003/4 and they haven't been wrong. Right now patience is needed. Sit tight.

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While I didn't buy any gold, I sort of mentally bought gold when I posted in this forum some time ago. That would have been at about £550. I note gold is coming down again after rallying a bit a few days ago. So, have I now seen a "sucker's rally" at close quarters? I'd like to think that I would have sold when it went back down under £700 again, perhaps at £670 or so. But not having any gold, that's all theoretical.

It's been a long time since I read one of those articles saying that £2000 gold was possible, and £1000 was probable in the near future.

Billy Shears

Dollars not pounds :) Yup thats my contribution to the discussion :)

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Guest boredwaiting

Dollars not pounds :) Yup thats my contribution to the discussion :)

Always welcome Chuz :)

I have just seen my money drop like a stone... I bought at 680 (more like 660 but gold money add a nice chunk on top). Now I am thinking about buying some more, but that'll put me over my 15% maximum exposure....

It's not obvious what to do........

Just let me know if you decide to buy Chuz... Then i'll definatley stay out :)

Where's Cgnao? I hope he protected himself.... :P

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Always welcome Chuz :)

I have just seen my money drop like a stone... I bought at 680 (more like 660 but gold money add a nice chunk on top). Now I am thinking about buying some more, but that'll put me over my 15% maximum exposure....

It's not obvious what to do........

Just let me know if you decide to buy Chuz... Then i'll definatley stay out :)

Where's Cgnao? I hope he protected himself.... :P

Dont worry i think your safe to buy, im skint at the moment, im 50% PM's although i now seem to be missing about 15% of that and thats without my unique approach to buying shares which has put me 40% down, thank f*ck i refuse to touch my ISA :lol:

Its ok, im in it for the long run, its my pension :lol:

In all seriousness though i think we will do all right, its a bugger that the end to IR's rises in the US arnt known because i think thats taking some steam out of gold but im quite happy to hold. I see bad things a head and i consider this pullback as a test of how serious you are. :)

fear not, all will be well :D

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The Doc tentatively bought at $620, he said.

He also said he expects it to be cheaper in August.

Assumably as a prelude to him buying in for the anticipated end of year run again?

I've bought back in again, with a bit, mainly because I can't be a**d timing the precise low point, and enough has come off.

The Yanks are about to impale their economy on a stick. If they go up too much more, they might invite us over for the party too! But then I always liked things-on-sticks.

EDIT- of course I take the price lottery, since my money never clears in the alloted 2 days.

Edited by megaflop

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The Doc tentatively bought at $620, he said.

He also said he expects it to be cheaper in August.

Assumably as a prelude to him buying in for the anticipated end of year run again?

I've bought back in again, with a bit, mainly because I can't be a**d timing the precise low point, and enough has come off.

The Yanks are about to impale their economy on a stick. If they go up too much more, they might invite us over for the party too! But then I always liked things-on-sticks.

EDIT- of course I take the price lottery, since my money never clears in the alloted 2 days.

does with a barclays current account

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Gold loses $14 as the dollar gets a Bernanke boost

SAN FRANCISCO (MarketWatch) -- Gold futures closed with a loss of $14 an ounce Tuesday as comments from Federal Reserve Chairman Ben Bernanke on inflation -- interpreted as signaling more interest-rate increases -- helped lift the U.S. dollar to touch a one-month high against Japan's yen.

"As recently as the end of April, Mr. Bernanke indicated that there may be a pause in the cycle of rising interest rates in the U.S.," said Jon Nadler, an analyst at bullion dealers Kitco.com. "Such posturing included a caveat that perhaps one more bump upward was still in the cards."

"It now turns out that a second rate hike is in the offing come June 10th," he said, adding that "to say that the Fed has been jolted into heavy-handed rate action by the abundant evidence of inflationary pressures, is to call 'panic' something like 'concern'."

http://www.marketwatch.com/News/Story/Stor...teid=mktw&dist=

This news should surely drop the price lower in the next few days going from previous history with interest rates. I wouldnt be surprised if it went under $600.....

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Gold loses $14 as the dollar gets a Bernanke boost

SAN FRANCISCO (MarketWatch) -- Gold futures closed with a loss of $14 an ounce Tuesday as comments from Federal Reserve Chairman Ben Bernanke on inflation -- interpreted as signaling more interest-rate increases -- helped lift the U.S. dollar to touch a one-month high against Japan's yen.

"As recently as the end of April, Mr. Bernanke indicated that there may be a pause in the cycle of rising interest rates in the U.S.," said Jon Nadler, an analyst at bullion dealers Kitco.com. "Such posturing included a caveat that perhaps one more bump upward was still in the cards."

"It now turns out that a second rate hike is in the offing come June 10th," he said, adding that "to say that the Fed has been jolted into heavy-handed rate action by the abundant evidence of inflationary pressures, is to call 'panic' something like 'concern'."

http://www.marketwatch.com/News/Story/Stor...teid=mktw&dist=

This news should surely drop the price lower in the next few days going from previous history with interest rates. I wouldnt be surprised if it went under $600.....

and so it begins.. there goes a grand, its easy to throw away 3/4 of a months pay these days :lol:

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  • 339 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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