Errol

Almost certainly realistbear. The trade prices at the end of the post are his normal method of giving the info. Hope he wasn't short! lol.

And on the same note (for new joiners/lurkers) 321gold.com is a great site for the latest gold/silver/economy articles and prices.

Everyone should be buying silver as well. I believe that in the years to come silver will make astonishing gains. Buy it whenever you get the chance. Obviously, this is the gold thread so that's why silver doesn't get much of a mention.

What we need now is a period of consolidation firmly above $900.

One of the biggest way to disguise inflation is with poorer quality ingredients. I've noticed this a great deal. Things taste different now.

A $20 fall is really not what I would call volatility. It barely makes me blink. Within a couple of years we will see swings of $100 a day making the price movement now seem pathetic.

I've been 'in' gold since 2000. This is just normal price action. Nothing particularly special today. Ignore the price noise. Gold is going to $1500+. It will get there with massive swings but it will get there (and a lot more).

The latter.

Nope. Not at all. A standard period of consolidation. Absolutely necessary. Nothing goes up in a straight line and I fully expect the gold bull to see far greater falls/rises in the future.

I'm expected in excess of $2000 by 2011. That would be over £1000 an ounce. And I think that is a fairly conservative estimate.

Inclined to agree that the bottom is in. Kind of irrelevant really though, as my long term target is in excess of $2000. I'm going to be buying some 1oz gold eagles this week.

A lot of people on HPC seem to see gold as an investment. Of course, it can be, under the correct circumstances but the primary reason for owning gold is as a store of wealth. Gold is the ultimate currency. It protects the value of your money. Personally, I am not 'invested' in it.

Those terms are used in any trading not just gold trading. A stop is the level you place an automatic sell command at. This means you can avoid unecessary losses when a trade moves against you. A short is simply a bet that the price of gold or anything else will go down (eg. I would be short gold or short HSBC shares).

Not sure if you guys all use this site already, but it's my main resource for gold/silver/economy related news and aricles: 321gold.com

Hmmm. I can't agree. Take this chart of copper for example: Looks very much like it's getting ready for a breakout...

Normally that sort of drop would lead to a huge drop in gold.

All this talk of 'Bullionvault' and 'goldmoney' ... You still can't beat the feeling of holding your own gold in your own two hands.

I purchased some gold today. Got fed up of waiting for the drop. It's fairly irrelevant anyway as my long term target is $1650++ (and I've been buying since the year 2000).

It keeps on going up! Go down, god damn you. I want $850!

I still think this correction will take us into the $800s. I'm waiting with my finger on the trigger.

To be fair, that is hardly rocket science. I've been anticipating a correction for a month or two now. The market was over-extended and I'm hoping it can get back into the $800s.

The inflation coming in the next 2-3yrs will be monstrous and make what we have seen so far look like nothing at all. The fed will bail out everything. Nothing will be allowed to fail. Make no mistake. Gold will exceed $1650.

Looking for $800-850 for the next round of buying. Hoping it will get there!

I'm itching for a correction back to $850 (or thereabouts).

Lending period extended from 30 to 90 days.