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Long dong anyone? :lol:

 

I don't know about that but I've never had any complaints from the girl friend.

 

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I must confess Gold and Silver have me flumoxed at the moment. Although I freely admit I haven't traded them well, my portfolio is worth less than several months ago and I haven't traded THAT badly. I am now fixed in some longs and won't trade but simply hold. However it still amazes me that G&S remain stuck in a range and keep getting smacked down every time they try to break out.

 

I'm more convinced than ever they are a good investment in the medium term but I'm generating a better return on my cash at the moment! Why is this? I know markets can remain irrational - I'm one of those STRs who STR'd too early (but not much too early). Fortunately housing is now falling back in line with the laws of gravity. However it took far too long (for my comfort) for housing to do this. I hope G+S won't take an equally long time to rise in line with inflationary pressures.

 

Perhaps I should just not look at forums and prices until the Autumn... if the Fed keep bluffing about rate rises and haven't stuck them up by then, then maybe G+S will start getting a second look.

 

I'm in a simmilar situation to you and share the same worries. We need to be patient with this and be prepared to wait a few more years. Hard I know but how long would it take to earn the money we hope to achieve? I don't regret STR. I'm already up about £25-£50K just on the drop in typical house prices. The down side is small compared to the upside. I just could do with some gold action soon.

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Rates unchanged and a very woolly statement with a miniscule (and I do mean miniscule) hint of hawkishness. I think we could get some good upside in gold and silver here.

 

One dissenter on the FOMC who called for higher rates, I guess he'll be silenced when the markets continue to drop over the next 2 months.

 

Edit: The more I read the statement the more of a bottle-out it looks. I think it effectively says 'we don't know what the hell to do'.

 

Nice rally in silver, I bought some at $16.59, sold at $16.75, so it has been a profitable day after all. :)

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Rates unchanged and a very woolly statement with a miniscule (and I do mean miniscule) hint of hawkishness. I think we could get some good upside in gold and silver here.

 

One dissenter on the FOMC who called for higher rates, I guess he'll be silenced when the markets continue to drop over the next 2 months.

 

Edit: The more I read the statement the more of a bottle-out it looks. I think it effectively says 'we don't know what the hell to do'.

why dont they do us all a favour and just disband

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Nice rally in silver, I bought some at $16.59, sold at $16.75, so it has been a profitable day after all. :)

 

lucky you, I got it at 16.63 , but early, now trying to cover losses with shorts in JPY & Nasdaq

 

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Well that was all a bit of an anti-climax. Oil sold off and then rallied to 134.

 

Gold did diddly despite a weak and wet Fed statement and rightly or wrongly, for me, this is cause for a little concern. The way I see it, the markets were expecting a LOT more hawkishness from the statement in the absence of a hike so, realistically, gold should have done more than the equivalent of opening one eye before drifting off back to sleep.

 

Ah well, maybe things'll take off tomorrow eh ?! :)

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Rates unchanged and a very woolly statement with a miniscule (and I do mean miniscule) hint of hawkishness. I think we could get some good upside in gold and silver here.

 

One dissenter on the FOMC who called for higher rates, I guess he'll be silenced when the markets continue to drop over the next 2 months.

 

Edit: The more I read the statement the more of a bottle-out it looks. I think it effectively says 'we don't know what the hell to do'.

 

Nice rally in silver, I bought some at $16.59, sold at $16.75, so it has been a profitable day after all. :)

 

 

They are stuck between fire and ice.

 

RE: the dissenter - call me synical but I got the feeling this was staged for pure spin.

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I must confess Gold and Silver have me flumoxed at the moment. Although I freely admit I haven't traded them well, my portfolio is worth less than several months ago and I haven't traded THAT badly. I am now fixed in some longs and won't trade but simply hold. However it still amazes me that G&S remain stuck in a range and keep getting smacked down every time they try to break out.

 

I'm more convinced than ever they are a good investment in the medium term but I'm generating a better return on my cash at the moment! Why is this? I know markets can remain irrational - I'm one of those STRs who STR'd too early (but not much too early). Fortunately housing is now falling back in line with the laws of gravity. However it took far too long (for my comfort) for housing to do this. I hope G+S won't take an equally long time to rise in line with inflationary pressures.

 

Perhaps I should just not look at forums and prices until the Autumn... if the Fed keep bluffing about rate rises and haven't stuck them up by then, then maybe G+S will start getting a second look.

Maybe think about your timescale, what you're trying to accomplish and the risks you're prepared to take. I'm looking to swap gold for a house in the UK in about 5 years time, but also want gold as disaster insurance (the probability of a paper gold default over the next 5 years are, imo, relatively high*). Unless you are able to accurately predict the price of gold (have a look at the people on kitco who spend much of their lives trying to), the spread between spot and the price you can buy physical will probably end up less than the commission you pay for each trade. I've been pound cost averaging into physical gold & silver since '05 (avoiding loading up too much on parabolic spikes) and it's worked well. Some of my numismatics have vastly outperformed bullion, too.

 

* In the situation where paper gold is defaulted on, it is likely that inflation & money supply will be high. You will end up getting your money back, but there will be such a long lag between the default event and the return of your money (valued on the default event date) that your returned stake will be worth far less.

 

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Nice rally in silver, I bought some at $16.59, sold at $16.75, so it has been a profitable day after all. :)

 

Nice :-)

 

Looks strong this morning.

 

It got a little bit scary in the period between the inventory and Fed announcements and I nearly got stopped out several times. Thankfully, I hung in and am back in profit on the short-term positions. With hindsight I could have trade it down then for the bounce although I've been whipped a couple of times this week so am trying to trade a bit less with wider stops to avoid being stopped out.

 

I think we're in for a run today especially with oil bouncing too.

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Looks like gold will today have its 3rd try at breaking through 900 convincingly.

 

I start to suspect the manipulators are dumping on gold at 900, because if it gets through there then 1000 is again on the cards

 

But the 2nd drop below 900 this week was small and short-lived, so we're getting close to the point where 900 is passed resoundingly ...hopefully today / this week

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Looks like gold will today have its 3rd try at breaking through 900 convincingly.

 

I start to suspect the manipulators are dumping on gold at 900, because if it gets through there then 1000 is again on the cards

It's always difficult to understand market sentiment but I suspect it's not just the manipulators but everyday small-time traders who are likely to dump around 900.

 

From my perspective, as someone who wants to hold a core position in gold but is also (badly) trading it a little, gold has been a complete nightmare since March. I consistently think "OK, things are looking good now... let's add a little more to the positions" only for it to reverse, drop down to where my stops are and sting me badly. Yesterday I got a load of S&G positions stopped out and as I'm now in very negative territory I felt I shouldn't/couldn't buy back in. Now look at what's happening. :blink:

 

Our Lord Jim (and many folks on here) are right that physical is the way to go, and trading gold can end in tears.... but if it's traders who drive the market then getting up into safe territory past $950 is going to be difficult IMHO. Far too many people are either enjoying the ride and making money long and short, or are too scared to hold much above $905 and wish to take profits.

 

I'm NOT going to buy more this time 'cos my short-term faith is seriously shaken. Time not to be so greedy. If things go to plan, there will be plenty of time and movement above $1000 to make/protect wealth.

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Feelin Groovy :lol:

 

Punched through $900

 

this is it, the big run for gold! a retest of 900 and next week we are seeing the chart on TV, just like oil

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this is it, the big run for gold! a retest of 900 and next week we are seeing the chart on TV, just like oil

 

$910 is important resistance. But its trying...

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Todays drop will be balanced out tomorrow or soon thereafter.

 

Looks like gold will today have its 3rd try at breaking through 900 convincingly.

 

I love it when I'm right :-)

 

...now wait for the knockdown later today! ...which, I predict, will be ineffectual, and we'll close well north of 900.

 

 

 

 

 

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This one ? :D

Perhaps you should send this great piccy to all the investment magazines: it could appear on a few front covers in the near future :-)

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So the big boys are now playing more often in the sandbox. I feel sorry for these guys: to me it looks as if the same morons who sold Monday have just bought back at a higher price. :lol:

 

I guess they thought it was necessary after Bernanke has shown his true face (by letting real interest rates fall off the cliff).

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