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Charlie Don't Surf

Still Expecting An August Bottom In Gold?

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why is it that people only see rises in a rising market, and falls in a falling market?

More to the point, how is it possible to pick a month like August and say there will be a bottom then?

Time will tell though. I'm putting my money on No August Bottom.

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More to the point, how is it possible to pick a month like August and say there will be a bottom then?

Time will tell though. I'm putting my money on No August Bottom.

you might be right.....we are getting very close to resistance at $650 and will most likely get a brief pullback,but I'm confident the short-term bottom of $550 will not be breached.....sub $600 is a good entry point if you can get it....the long-term uptrend is still intact and it looks like the market is in consolidation mode for mow,meaning we should get a sharp move higher when it breaks...I think august will be the month it does....and after that we will be heading up to $1k very smartly.

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More to the point, how is it possible to pick a month like August and say there will be a bottom then?

Time will tell though. I'm putting my money on No August Bottom.

you're money is starting to leave you....

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More to the point, how is it possible to pick a month like August and say there will be a bottom then?

Time will tell though. I'm putting my money on No August Bottom.

Partly it's the long-established seasonal trend that gold tends to languish during the summer and then hike up in the autumn. Partly it is indicated interest in gold at sites like //www.goldprice.org, which predict a botom as low as $550 before a good gain begins again.

But watch out for any sharp falls in the dollar or sharp hikes in the oil price. If there were dead certs in this world we'd all be millionaires.

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you're money is starting to leave you....

Yes, but it is only paper money and if it leaves me it will come back again.

An August bottom would be very good news for me because it means the pog will be climbing (perhaps rapidly) ater August.

I am not selling because I do not have the skill to best predict when to buy and sell and I do not want to miss out on the action after August.

YES indeed.

And I am raising big cash to take advantage

Just wondering at what point you would consider buying back in?

Will you be posting here and on GEI when you plough back in again?

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Yes, but it is only paper money and if it leaves me it will come back again.

An August bottom would be very good news for me because it means the pog will be climbing (perhaps rapidly) ater August.

I am not selling because I do not have the skill to best predict when to buy and sell and I do not want to miss out on the action after August.

Just wondering at what point you would consider buying back in?

Will you be posting here and on GEI when you plough back in again?

Gold is closing on $600. If it gets much closer I am getting the checkbook out - OK it might sink back to $550, briefly, but I don't want to risk missing the dip again what with the developments in Eastern Med.

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Gold is closing on $600. If it gets much closer I am getting the checkbook out - OK it might sink back to $550, briefly, but I don't want to risk missing the dip again what with the developments in Eastern Med.

are you buying bullion?

or shares??

If bullion how do you sell again???

I dunno if you turned up with 50 1Oz coins at a dealer, they would have the cash to pay you in one go

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Guest Bart of Darkness

Down to approx. $606 at the moment.

Edited by Bart of Darkness

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Could it be that we've just seen the bottom?

"The fact we touched the bottom and didn't go below $600 is a very good sign," said a metals dealer in Singapore."

we are approaching long-term moving average value once again.I missed out on the pullback to $550 but at least the exchange rate this time is a little better,so swings and roundabouts really.

I'm primed for a small foray over the next couple of weeks.....as I mentioned before,sub $600 and I'm buying,just waiting now for a good entry point where I have suitable gold price and cable juxtaposed nicely.

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So where we at , have we seen the bottom earlier than expected or will August be the month that it really drops? Now at $633 Any opinions?

Edited by Redtony

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Gold is the only real money. As oil depletion starts kicking in and fiat collapses we could be looking at $10,000 and rising. JKust don't tell anyone you got any wtshtf

And a dark wind blows..

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Guest Alright Jack

Few ever mention silver on here. I personally love the stuff. You get sh!t loads for your money and looks hugely undervalued compared to gold.

Just as an aside, the dollar looks to be begining its second leg down... and down...

I think this explains the BoE sudden hike in rates since, in an act of desperate merchantilism, we will need to print a cr@p load of £ to buy a cr@p load of $ to stop the sky falling down. Maybe this is why short sterling is tanking.

Anyone with experience in currencies, I'd love to hear your PoV.

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Guest Alright Jack

When I posted that we were hovering around 62 / 1 in gold silver ratio. Now we are at 52 / 1.

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No August bottom yet.

This is very interesting. At the moment there are two opposite points of view.

1) Gold must gradually decline for technical reasons towards the 200 MDA, currently at 574$, rising at a rate of 0.9$/day.

This should be in line with previous historical precedent regarding phase 2 of this bull run. THis behaviour is expected

after the first major leg for phase 2.

2) Gold price is about to start rising again in September due to seasonal factors.

Will there be a substantial decline to 600$ or less? I believe that there many wealthy individuals disgusted with

negative real interest rates, who are waiting in the sidelines, who would like to know the answer to this question.

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Just surprised and intrigued about the seasonality in gold?

Is the link much stronger than with the stockmarket with the old sell in may back in sept?

If people know about it shouldnt the seasonality disappears?

Might be cos traders all go on holiday in August. If my supposition is correct, they take safe positions before they go on holiday so they don't get nasty surprises when they get back. Perhaps gold is considered unsafe as it's so volatile.

Or am I talking crap?

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Well it's certainly taking a dip at the moment, $613.

I.m thiinking of putting half my gold allocated stash in very soon maybe next week, will base my decision on any tips in goldseek radion tomorrow, Bubbs opinion now would be very valuable.

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middle east ceasefire, oil prices easing, stockmarket FTSE picking up

doesnt look good for gold at the moment in the short term

BUT FTSE volumes have been low, (explains august volatility) it remains to be seen when the big city traders who return from their august holidays what they will be doing - thats from economist on the radio- not me

Edited by notanewmember

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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