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jpidding

Gold...come On People Put Your Money Where Your Mouth Is...

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I'm gonna stick my neck out and say we are looking at it now. at around $630/£338.

I bought and held back in Feb at around £316 and I'm looking to buy on this dip, but fear is preventing me. Its funny cost when it was hitting £385 a few weeks ago I was praying for this pullback. Now its here I'm hesitating.

Never catch a falling knife and all that, but cant help but feel that now is a big opportunity.

Cheers,

J.

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If it breaks $600 it'll be breaking an important supporting trend.

I suspect we'll see it bounce off of about $590-$600 ish and form a pennant continuation pattern and then continue up, probably gaining as much as it has in recent bull run.

I sold out a week or two ago... at a very tidy profit.

I'll buy back in when the 9 and 18 day MA lines cross again (they seem to be rather accurate of late on the 6 month gold trends).

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Guest Alright Jack

I'm gonna stick my neck out and say we are looking at it now. at around $630/£338.

I bought and held back in Feb at around £316 and I'm looking to buy on this dip, but fear is preventing me. Its funny cost when it was hitting £385 a few weeks ago I was praying for this pullback. Now its here I'm hesitating.

Never catch a falling knife and all that, but cant help but feel that now is a big opportunity.

Cheers,

J.

Well. I have to say I agree. I've just made an enquiry with the bullion merchant I use. this is it for me. I doubt it'll drop as far down as 580-600 like some are suggesting. 625 ish it will likely be at the PM close. It's now or never folks.

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I'll buy back in when the 9 and 18 day MA lines cross again (they seem to be rather accurate of late on the 6 month gold trends).

Do you have a good source for graphs with those MA lines plotted?

I was grinding my teeth at my bank a couple of weeks ago for taking so damn long to transfer funds into my gold account. Lucky they took so long, the drops started just before I would have bought. I'm holding back until it looks like the bottom has been reached, then I'll be in like Flint.

Edited by tahoma

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Guest Alright Jack

Do you have a good source for graphs with those MA lines plotted?

I was grinding my teeth at my bank a couple of weeks ago for taking so damn long to transfer funds into my gold account. Lucky they took so long, the drops started just before I would have bought. I'm holding back until it looks like the bottom has been reached, then I'll be in like Flint.

Do you really trust the paper market? It is fractional reserve banking that created this mess, are you not likely jumping from the frying pan and into the fire?

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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.

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Do you really trust the paper market? It is fractional reserve banking that created this mess, are you not likely jumping from the frying pan and into the fire?

I'm in reserved physical.

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think we could see a bottom of $575 at which point is a buy in again. this could be a bearish time for gold in a what i still consider to be a long term bull market.

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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.

Tough to watch, but I would say stick to your guns. Go back and assess why you bought gold. None of that has changed. the banks are still inflating like hell and printing money like its going out of fashion (literally!).

Good luck.

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I'd say we've hit the bottom at $622, but what do I know!

The last time round we had a similar pullback from the 'new record' of $575, to $535 over about a month, it then trundled along at about $550'ish for a while before rocketing up to $730. If the pattern repeates, then it'll stay in the $620-$650 range for a month or so before starting to climb up again. However, quite a few analysts seem to say that nothing much will happen before autumn.....

Fundamentals though haven't changed; inflation is way higher that being reported, economy is poor, debt and bankruptices are skyrocketing, oil is running out....

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i would consider buying back in at $500-$550

Otherwise still overpriced as everyone is raising interest rates to batter inflation (except for the uk) - yoorah the economic immigrant....

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Do you really trust the paper market? It is fractional reserve banking that created this mess, are you not likely jumping from the frying pan and into the fire?

paper beats gold

gold beats global metdown

global meltdown beats paper

paper scissors gold

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Guest Alright Jack

I'm in reserved physical.

You'll have to help me out with that one, I don't know what you mean.

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"Its funny cost when it was hitting £385 a few weeks ago I was praying for this pullback. Now its here I'm hesitating"

THAT is normal- which is why most people miss the bottom, and you may too.

Exactly my thinking. Transerred another lump of electronic paper money to Baird yesterday. Just hope it shows in their account soon so I can get the 3pm fix before things pick up again.

J.

You are welcome to visit GEI where I endeavor to keep people posted about some of the shorter term trading moves.

Have been browsing GEI and signed up for an account yesterday. Nice site Bubb....keep up the good work....I for one really do appreciate it.

JP.

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Guest Alright Jack

paper beats gold

gold beats global metdown

global meltdown beats paper

paper scissors gold

There is some sense in that. Are you refering to the leveraged play associated with paper, or the transaction speed? Paper is faster to buy/sell I guess which is nice. That said, if it were urgent, a drive to London and a visit to a bullion merchant is, in reality, all it takes to liquidate if you hold the bullion itself. Otherwise, phone call and snail mail will also work.

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think we could see a bottom of $575 at which point is a buy in again. this could be a bearish time for gold in a what i still consider to be a long term bull market.

same with commodities/resources as a whole......I'm not a short-term trader,so I'm looking to buy the dips.

..said a while ago $620 looked pretty fair.....anything below with the current exchange rate looks like a pretty screaming buy.

.....funny how the likes of BHP etc have not really got hold of the commodity rally,I think the spot price is a bit of an illusion,most resource/energy stocks are priced for forward earnings WAY below spot(BP forward earnings are pricing oil at $40BBL!!!!!!)..that makes them look pretty good value!!!!!

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same with commodities/resources as a whole......I'm not a short-term trader,so I'm looking to buy the dips.

..said a while ago $620 looked pretty fair.....anything below with the current exchange rate looks like a pretty screaming buy.

.....funny how the likes of BHP etc have not really got hold of the commodity rally,I think the spot price is a bit of an illusion,most resource/energy stocks are priced for forward earnings WAY below spot(BP forward earnings are pricing oil at $40BBL!!!!!!)..that makes them look pretty good value!!!!!

why don't you run a BP / oil futures arb spread ? sell the oil buy BP one of them is right ?

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why don't you run a BP / oil futures arb spread ? sell the oil buy BP one of them is right ?

....bp have forward earnings on oil at $40bbl,I got a bit wrong-footed by cable going back up to $1.90 but I'm fairly sure this is temporary.

that's the problem with trading these type of stocks out of their natural currency.....you either get pummelled or you get a double-whammy........long term though I can see oil trading at $100+bbl and sterling having a shock,just need to get this shakeout finished....buy the dips folks!!!

Edited by oracle

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Been looking into the prices of Sovs again.

Baird charged me £2.50 over spot per coin in Feb. When gold was at $720 a few weeks ago the prenium had gone to £3.50. Was advised that if the price fell it might shake the tree a bit and make sovs more available. Got an email off Baird and now they want £5 per coin!!! Thats over 6% dammit! Now considering Kruggers.

On another subject I've been looking at the trends throughout the year. Bubb et al seem to be expecting further falls with prices bottoming around Aug. I've looked at the 5 year chart and it seems there is some pattern....a run up at the end of the year peaking around Xmas. There seems to follow an intermediate low after that bottoming around the May-June timeframe. See chart below. Pink line is start of year, black is intermediate low.

au1825nyb.gif

This year seems to be following the same pattern, suggesting that now may be a relatively low risk time to buy, but that not much will happen until Aug-Sept time.

au0365nyb.gif

What do you think folks? Time to load up or hold a bit?

JP.

post-1570-1149503615.gif

post-1570-1149503638.gif

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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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