creditcrunch Posted February 9, 2009 Report Share Posted February 9, 2009 okay... i have been buying gold now for a while.. and I am in profit, and have a nice little stash. But http://goldprice.org/30-year-gold-price-history.html Anyone else nervous looking at these charts? The only currency that looks like its still got a way to climb is the Yen. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 9, 2009 Author Report Share Posted February 9, 2009 ... R U kidding?? These are nominal charts. Think how much inflation there has been since 1980. Think how much inflation there is/has been that is not yet showing in measures like CPI/RPI. Ask yourself, what else can you buy at the same prices as in 1980, except for gold? Houses? Cars? You must be kidding! Link to comment Share on other sites More sharing options...
electroweak Posted February 9, 2009 Report Share Posted February 9, 2009 Spider at a record..... SPDR Gold Trust holdings at record of 881.87 T 09 Feb 2009 - 23:15 TOKYO, Feb 10 (Reuters) - The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust , said holdings hit a record of 881.87 tonnes as of Feb. 9, up from 867.19 tonnes on Feb. 8. For details on gold holdings by the ETF listed in New York and also co-listed on other exchanges, click on: http://www.exchangetradedgold.com/iframes/usa.php Holdings in the trust, which issues securities backed by physical stocks of gold, began climbing again in December as low visibility on the prospects for the global economy ignited demand for bullion as a safe-haven asset. . Following are changes in SPDR holdings Date: Total tonnes Feb 9 881.87 Feb 5 867.19 Feb 4 859.49 Feb 2 853.37 Jan 29 843.59 Jan 27 832.88 Link to comment Share on other sites More sharing options...
gwizzie Posted February 9, 2009 Report Share Posted February 9, 2009 R U kidding?? These are nominal charts. Think how much inflation there has been since 1980. Think how much inflation there is/has been that is not yet showing in measures like CPI/RPI. Ask yourself, what else can you buy at the same prices as in 1980, except for gold? Houses? Cars? You must be kidding! Barrell of oil? Link to comment Share on other sites More sharing options...
electroweak Posted February 9, 2009 Report Share Posted February 9, 2009 R U kidding?? These are nominal charts. Think how much inflation there has been since 1980. Think how much inflation there is/has been that is not yet showing in measures like CPI/RPI. Ask yourself, what else can you buy at the same prices as in 1980, except for gold? Houses? Cars? You must be kidding! +1. This ain't even about gold yet, simply the strength of the USD and composite weakness of the pound. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 10, 2009 Report Share Posted February 10, 2009 No-one on here tonight worried about today's plunge? What are views? Just a timely correction or the start of a tradeable move down? [P.S. I know some of you on here don't think there is any sense in trading PMs so you needn't tell me again] I'm sorry, I've not had time to reply, and still don't have time to do my usual charts. So it'll have to be words What plunge ?! I've been watching GoldUS$ going up a nice little channel since Nov. At the time of your post, it's quite near the TOP of that channel ! It would be low IMO if it was near 860 today. I've just been sat here waiting for the various crosses to break below the short-term channel they've been on for about 1 week. It's a little early to call it, but it might just be about to. Silver started up, then gold, and Yen seem to be on the way back up as I write. IMO trading gold is fine. Trade fiat for gold, and then stop there Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 10, 2009 Report Share Posted February 10, 2009 OK, a gold chart: Link to comment Share on other sites More sharing options...
romans holiday Posted February 10, 2009 Report Share Posted February 10, 2009 No-one on here tonight worried about today's plunge? What are views? Just a timely correction or the start of a tradeable move down? [P.S. I know some of you on here don't think there is any sense in trading PMs so you needn't tell me again] Not worried about the plunge... hoping for it in fact. Looking at the upward trend [from Steve's chart] looks like POG could touch around 850. I will be buying with the other half of my trading funds around there. Then sit patiently for it go through 1000. Could take a couple of months. I reckon this may involve another leg down in the DOW... after the rally runs out of steam. As for trading, nothing wrong with it if you also have a core position in bullion, a strategy and of course taking profits in ounces. Lets face it, gold may soon be too expensive to purchase for many earning fiat. Link to comment Share on other sites More sharing options...
Wanderer Posted February 10, 2009 Report Share Posted February 10, 2009 Hi all, So, not much concern then! Don't bite my head off when I raise a question though - I'm still massively long in Gold, but can't help feeling how much I could have added to my 'collection' if I'd traded better. Still, I'm currrently happy to have cashed in my ETF (1/3 of my stash) at 610, although frustrated I didn't wait longer on that one as I now could have bought back in handsomely. Link to comment Share on other sites More sharing options...
Bobsta Posted February 10, 2009 Report Share Posted February 10, 2009 I started the gold thread tradition, trading wasn't my intention at all and I would never ever put "trading" in the title of the thread, as it is right now. So, newbies and guest, listen: do NOT trade gold. Buy and hold. Trade Google or something less manipulated if you want to trade. But if you do want to trade gold, or would just like a bit of bearish "ying" to go with the bullish "yang" on this thread then check out Ker's Gold & Silver Swing Trading thread. I've found it helpful to have some "TA-led caution" when thinking of buying more. That thread would certainly have stopped you buying into gold at $930 last week, when you could've got a better deal today. Personally I see no possibility whatsoever of gold making the ridiculously (IMO) low lows of ~$400 being predicted. But short-term, it's sometimes useful. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 10, 2009 Report Share Posted February 10, 2009 But if you do want to trade gold, or would just like a bit of bearish "ying" to go with the bullish "yang" on this thread then check out Ker's Gold & Silver Swing Trading thread. I've found it helpful to have some "TA-led caution" when thinking of buying more. That thread would certainly have stopped you buying into gold at $930 last week, when you could've got a better deal today. Personally I see no possibility whatsoever of gold making the ridiculously (IMO) low lows of ~$400 being predicted. But short-term, it's sometimes useful. Trouble is that thread would stop you buying full stop. He has been saying it is going to $600 since it was $700, so you would of missed out on $200. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 10, 2009 Report Share Posted February 10, 2009 that headmelter is very naughty. he...he...he one for GF. Link to comment Share on other sites More sharing options...
bitbigt Posted February 10, 2009 Report Share Posted February 10, 2009 Expecting gold to slide to 865 before its next step up, I decide this morning to stop looking at it for a few days (to avoid the pain of watching the fall) But at 4.50pm GMT today, my curiosity got the better of me, and I had a quick peek ...I'm now smiling Link to comment Share on other sites More sharing options...
warpig Posted February 10, 2009 Report Share Posted February 10, 2009 I guess this is the volatility we have been discussing for the last year+. What do we attribute this recent volatility to? Is it simply people skimming off profits? Link to comment Share on other sites More sharing options...
marceau Posted February 10, 2009 Report Share Posted February 10, 2009 I guess this is the volatility we have been discussing for the last year+. What do we attribute this recent volatility to? Is it simply people skimming off profits? It's more likely to be people panicking at the smallest bit of news. The majority of the market simply hasn't got a clue where the 'smart money' went. There's no longer a crowd to follow, so the brain dead folks who create the big price moves are looking for someone to lead them by the hand. As a consequence they're piling into and out of assets en masse based on Bloomberg headlines, all in the hope they magically pick the right one and a trend emerges. The trend will form eventually, then we get the stampede and the morons pay over the odds for assets owned by the smart money. Happens every time, and this will be no different. So at this stage we on GEI are either smart, or totally deluded. I know which one my money is (literally) on. Link to comment Share on other sites More sharing options...
bitbigt Posted February 10, 2009 Report Share Posted February 10, 2009 It's more likely to be people panicking at the smallest bit of news. The majority of the market simply hasn't got a clue where the 'smart money' went. There's no longer a crowd to follow, so the brain dead folks who create the big price moves are looking for someone to lead them by the hand. As a consequence they're piling into and out of assets en masse based on Bloomberg headlines, all in the hope they magically pick the right one and a trend emerges. The trend will form eventually, then we get the stampede and the morons pay over the odds for assets owned by the smart money. Happens every time, and this will be no different. So at this stage we on GEI are either smart, or totally deluded. I know which one my money is (literally) on. Personally, I probably am generally deluded about many things - but that doesn't exclude being lucky about what I invest in ! Link to comment Share on other sites More sharing options...
Pluto Posted February 10, 2009 Report Share Posted February 10, 2009 that headmelter is very naughty. he...he...he one for GF. I see the HPCmuppets are trying to suppress gold chit chat - again - but they can't. They claim a few internet posters on their house price bull discussions, as they are all bulls in bears clothing really, are ramping up the price of a world wide commodity like gold on their site. Delusional. These muppets will be piling into the housing market and catching the falling knife as one might say, then regretting the day they silenced the only voices of reason that were around them. Link to comment Share on other sites More sharing options...
HPCSucks Posted February 10, 2009 Report Share Posted February 10, 2009 I see the HPCmuppets are trying to suppress gold chit chat - again - but they can't. They claim a few internet posters on their house price bull discussions, as they are all bulls in bears clothing really, are ramping up the price of a world wide commodity like gold on their site. Delusional. These muppets will be piling into the housing market and catching the falling knife as one might say, then regretting the day they silenced the only voices of reason that were around them. So do you think there is zero chance that nominal price may rise while "real" prices fall? Link to comment Share on other sites More sharing options...
Pluto Posted February 10, 2009 Report Share Posted February 10, 2009 So do you think there is zero chance that nominal price may rise while "real" prices fall? Zero chance of any nominal increase unless wages start to rise. You can take that to the bank - if you can find a decent one. Link to comment Share on other sites More sharing options...
HPCSucks Posted February 10, 2009 Report Share Posted February 10, 2009 Zero chance of any nominal increase unless wages start to rise. You can take that to the bank - if you can find a decent one. So you think there's zero chance of wage increases then? Link to comment Share on other sites More sharing options...
Pluto Posted February 10, 2009 Report Share Posted February 10, 2009 So you think there's zero chance of wage increases then? More chance of wage reductions and a three day week. Don't be suckered into property. It will be a mugs game for years. Link to comment Share on other sites More sharing options...
warpig Posted February 10, 2009 Report Share Posted February 10, 2009 In my mind there's still no sign of the general public piling in yet, I can't help but think there will need to be a trigger for this to happen. It's certainly going to be an interesting ride. It's more likely to be people panicking at the smallest bit of news. The majority of the market simply hasn't got a clue where the 'smart money' went. There's no longer a crowd to follow, so the brain dead folks who create the big price moves are looking for someone to lead them by the hand. As a consequence they're piling into and out of assets en masse based on Bloomberg headlines, all in the hope they magically pick the right one and a trend emerges. The trend will form eventually, then we get the stampede and the morons pay over the odds for assets owned by the smart money. Happens every time, and this will be no different. So at this stage we on GEI are either smart, or totally deluded. I know which one my money is (literally) on. Link to comment Share on other sites More sharing options...
dopamine Posted February 10, 2009 Report Share Posted February 10, 2009 Is anyone else considering a large trade at these levels, with a view to riding it up to $1000? A stop at $875 in my thinking is more than generous as it seems as if gold is champing at the bit again. I did the same last year, but made the mistake of not taking profits, and the nasty one day plunge we had happened on the day when I couldn't check markets due to work. Can anyone seriously see a further correction down to $850 or below happening before gold takes out $1000 again? Be grateful for traders' views on this. Link to comment Share on other sites More sharing options...
electroweak Posted February 10, 2009 Report Share Posted February 10, 2009 Is anyone else considering a large trade at these levels, with a view to riding it up to $1000? A stop at $875 in my thinking is more than generous as it seems as if gold is champing at the bit again. I did the same last year, but made the mistake of not taking profits, and the nasty one day plunge we had happened on the day when I couldn't check markets due to work. Can anyone seriously see a further correction down to $850 or below happening before gold takes out $1000 again? Be grateful for traders' views on this. I think 860 is a firm possibility in the next week. Look at the upchannel support at 860ish which i am thinking will be tested. EDIT: I am not trading it. Link to comment Share on other sites More sharing options...
dopamine Posted February 10, 2009 Report Share Posted February 10, 2009 I think 860 is a firm possibility in the next week. Look at the upchannel support at 860ish which i am thinking will be tested. EDIT: I am not trading it. Thanks. I'm still in 2 minds and haven't placed the trade. This obama action is driving things today. Link to comment Share on other sites More sharing options...
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