Jump to content

Recommended Posts

Grateful for the response(s) :)

 

Only thing left to decide is buy now or wait for CG's predicted smackdown ............

 

Ker is predicting a smack down today.

 

Not CG??

Share this post


Link to post
Share on other sites

Need some help with some really really simple maths here guys - I keep screwing it up!

 

I've been averaging in and made 3 transactions on GM over the past few months:

 

1. £4,814.85 at £15.7103/gg spot rate

2. £2,887.85 at £15.5654/gg spot rate

3. £16,356.11 at £15.348/gg spot rate

 

What has my average spot rate purchase been?

 

I'm going round in circles and can't work it out for the life of me!!

 

Cheers :)

Share this post


Link to post
Share on other sites
Need some help with some really really simple maths here guys - I keep screwing it up!

 

I've been averaging in and made 3 transactions on GM over the past few months:

 

1. £4,814.85 at £15.7103/gg spot rate

2. £2,887.85 at £15.5654/gg spot rate

3. £16,356.11 at £15.348/gg spot rate

 

What has my average spot rate purchase been?

 

I'm going round in circles and can't work it out for the life of me!!

 

Cheers :)

 

£15.447 I think - if I didn't make any mistakes.

 

Total up the £xgg then divide by £ spent.

Share this post


Link to post
Share on other sites
£15.447 I think - if I didn't make any mistakes.

...

 

No mistakes. I get the same (ignoring rounding errors - 15.445).

 

Divide the total you have spent by the total number of grams you own

Share this post


Link to post
Share on other sites
No mistakes. I get the same (ignoring rounding errors - 15.445).

 

Divide the total you have spent by the total number of grams you own

 

Eh? You round 15.4466.... down? Or maybe I did type a number wrong. Anyways...

Share this post


Link to post
Share on other sites
15 and a half pounds of something for a gram of something. On a set of scales that's saying something! :rolleyes:

 

15 and a half pounds of nothing for a gram of something. :lol:

Share this post


Link to post
Share on other sites
Need some help with some really really simple maths here guys - I keep screwing it up!

 

I've been averaging in and made 3 transactions on GM over the past few months:

 

1. £4,814.85 at £15.7103/gg spot rate

2. £2,887.85 at £15.5654/gg spot rate

3. £16,356.11 at £15.348/gg spot rate

 

What has my average spot rate purchase been?

 

I'm going round in circles and can't work it out for the life of me!!

 

Cheers :)

 

Why don't you add up the number of grams you owe and divide it by the amount of money you put in to obtain that weight? That figure then includes the transaction costs, which is a better measure for calculating your final profit. Don't forget to add in your monthly storage charge.

 

 

Share this post


Link to post
Share on other sites
Eh? You round 15.4466.... down? Or maybe I did type a number wrong. Anyways...

 

I pasted the numbers in to Excel. I haven't rounded.

 

I feel like a proper sad case pasting this, but, ....here it is..... £15.4451765095399

 

Please forgive me for debating a couple of thousands [iNSERT APPRORIATE SMILEY]

 

Share this post


Link to post
Share on other sites

There seems to be plenty of pro-gold sector articles about right now but here's a couple:

 

Gold Price Set to Explode Higher on Surging Monetary Inflation - by By: Jim_Willie_CB: http://www.marketoracle.co.uk/Article7500.html

 

Last paragraph:

 

AWAKENED GOLD PRICE

 

The US Dollar DX index has topped. Conversely, the gold price has bottomed. Each has experienced a clear vivid pronounced reversal off the extreme. Signs point to December as being a battleground month. The moving averages have begun to reverse, a more stable signal. A MACD crossover is near, which would give a billboard notice to technical traders. Beware that this is the phony paper gold price. Actual large physical gold transactions are conducted at prices in excess of $1000 per ounce. The undue influence of paper price discovery is soon to end. As the Gladiator said in the 1999 movie by the same name, to the phony emperor who usurped power, “The time will soon come to an end for you to honor yourself.” Expect severe discontinuity in the gold price in the next few months, maybe sooner. If Keiser and others are correct, and the assault on the COMEX gold succeeds to liberate its price, a gap up is assured, a big gap up, like a few hundred dollars per ounce. Now is the time to hold firm your gold and silver metal. Sell the children, but do not sell the precious metal.

 

Financial Mayhem to Fuel Gold’s Next Surge? - by Sean Brodrick: http://www.moneyandmarkets.com/financial-m...t-surge-3-28362

 

...So we have this combination of forces: Powerful fundamentals on the one hand, and the potential for more financial chaos on the other. Put them together and you can see that gold could go much higher....

Share this post


Link to post
Share on other sites

I say we'll get both hyperinflation AND civil disorder or possibly war.

 

However this is the typical pre-smackdown article.

 

Prepare for the £500 goobye kiss.

 

http://www.telegraph.co.uk/finance/comment...d-unravels.html

Citigroup says gold could rise above $2,000 next year as world unravels

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.

Last Updated: 4:48PM GMT 26 Nov 2008

 

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

 

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

 

"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist.

 

"The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.

 

"Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said.

 

"This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity. There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised."

 

"What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. People react when they have their backs to the wall. We're already seeing doubts emerge about the sovereign debts of developed AAA-rated countries, which is not something you can ignore," he said.

 

Gold traders are playing close attention to reports from Beijing that the China is thinking of boosting its gold reserves from 600 tonnes to nearer 4,000 tonnes to diversify away from paper currencies. "If true, this is a very material change," he said.

 

Mr Fitzpatrick said Britain had made a mistake selling off half its gold at the bottom of the market between 1999 to 2002. "People have started to question the value of government debt," he said.

 

Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. Gold was trading yesterday at $812 an ounce. It is well off its all-time peak of $1,030 in February but has held up much better than other commodities over the last few months – reverting to is historical role as a safe-haven store of value and a de facto currency.

 

Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses.

Share this post


Link to post
Share on other sites

You are really convinced for the smackdown. Is it today Cg?

 

I say we'll get both hyperinflation AND civil disorder or possibly war.

 

However this is the typical pre-smackdown article.

 

Prepare for the £500 goobye kiss.

 

http://www.telegraph.co.uk/finance/comment...d-unravels.html

Citigroup says gold could rise above $2,000 next year as world unravels

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.

Last Updated: 4:48PM GMT 26 Nov 2008

 

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

 

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

 

"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist.

 

"The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.

 

"Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said.

 

"This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity. There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised."

 

"What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. People react when they have their backs to the wall. We're already seeing doubts emerge about the sovereign debts of developed AAA-rated countries, which is not something you can ignore," he said.

 

Gold traders are playing close attention to reports from Beijing that the China is thinking of boosting its gold reserves from 600 tonnes to nearer 4,000 tonnes to diversify away from paper currencies. "If true, this is a very material change," he said.

 

Mr Fitzpatrick said Britain had made a mistake selling off half its gold at the bottom of the market between 1999 to 2002. "People have started to question the value of government debt," he said.

 

Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. Gold was trading yesterday at $812 an ounce. It is well off its all-time peak of $1,030 in February but has held up much better than other commodities over the last few months – reverting to is historical role as a safe-haven store of value and a de facto currency.

 

Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses.

 

Share this post


Link to post
Share on other sites
You are really convinced for the smackdown. Is it today Cg?

 

I am hearing rumours from a source that has rarely been wrong.

 

The source says it's coming soon but doesn't know when.

 

The source also says if it fails there is going to be a discontinuity.

 

If I had to bet, friday afternoon in NY trading.

 

It usually starts with gold stocks being pounded a few hours before the smackdown proper.

 

Share this post


Link to post
Share on other sites

Thanks for the info.

Much appreciated..have got some GBP to convert to gold Pounds...will try to load then.

I am hearing rumours from a source that has rarely been wrong.

 

The source says it's coming soon but doesn't know when.

 

The source also says if it fails there is going to be a discontinuity.

 

If I had to bet, friday afternoon in NY trading.

 

It usually starts with gold stocks being pounded a few hours before the smackdown proper.

 

Share this post


Link to post
Share on other sites
The source also says if it fails there is going to be a discontinuity.

Hi Cg,

What do you mean by discontinuity?

CC

PS You are earning lots of karma points at the mo.

Share this post


Link to post
Share on other sites

Um, given all the rumours of an imminent smack down, the contrarian in me expects a sharp price spike and time to take massive profits (in paper PMs) come Friday afternoon (UK)...

 

Whatever you do, do not be tempted into chasing this market, not in this environment. Remember what happened to the oil price a few weeks ago when the price spiked from $100 to $130pb within half an hour only to tank subsequently to below $50...

Share this post


Link to post
Share on other sites
I wonder if cg infers something akin to the end of this article.....

 

http://www.gold-eagle.com/editorials_02/douglasa061302.html

 

Like the sound of that :)

 

"Catastrophe theory hence explains the hypothesis often proposed by Bill Murphy that one day gold will gap up at the open and run from there."

Share this post


Link to post
Share on other sites
I am hearing rumours from a source that has rarely been wrong.

 

The source says it's coming soon but doesn't know when.

 

The source also says if it fails there is going to be a discontinuity.

 

If I had to bet, friday afternoon in NY trading.

 

It usually starts with gold stocks being pounded a few hours before the smackdown proper.

 

Trading closes at noon on Fri...does it matter?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×