electroweak Posted February 26, 2009 Report Share Posted February 26, 2009 I pulled my trigger at $939. I always shoot off too early. Link to comment Share on other sites More sharing options...
nicejim Posted February 26, 2009 Report Share Posted February 26, 2009 I would say this is a strong indicator of the media interest phase. I have met one person in RL who has invested in gold. How many have you met? For most of the people I talk to or work with, gold simply isn't on their radar yet. Gold is a much smaller market than tech stocks; equities was the default investment for at least a few decades before the tech bubble whereas gold has been out of favour in the rich part of the world for generations. I'd not expect the mania to be as visible in gold as it was in tech and it doesn't surprise me that I am the only person I know who owns gold. However, the coin and etf sales have gone parabolic lately and $1000 is a nice round number at which the early investors might want to take some profits. As Frizzers and Bubb have pointed out, the charts look bearish at the moment, and the big players will likely be responding to that. Then there's the manipulation to consider. Link to comment Share on other sites More sharing options...
nicejim Posted February 26, 2009 Report Share Posted February 26, 2009 I pulled my trigger at $939. I always shoot off too early. Was that on the way in or out? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 27, 2009 Report Share Posted February 27, 2009 ...and here is a contrarian view: http://www.fool.com/investing/general/2009...ve-in-gold.aspx To help prepare you for gold's next monster move, I offer this Foolish gold quiz: * What is your style? Are you a long-term buy-and-hold investor like me, or more of a swing trader looking to time those peaks and valleys? Given the highly complex set of variables in play, this Fool does not consider gold an appropriate venue for anyone in the latter camp. * How do you form your decisions about gold? The majority of gold investors are moved by fundamental drivers of the metal, like the state of the U.S. dollar or the prospect of inflation, while others are more attuned to technical analysis. I use both, but I place greater emphasis on the fundamental drivers and my resulting target price of at least $2,000 gold. * How much confidence do you have in your position? This critical question will help investors understand whether they are ready for the looming volatility in gold. I expect price volatility to increase substantially in the months and years ahead, with daily moves like this $90 leap after the Lehman Brothers bankruptcy providing a mere glimpse of what's to come. To avoid selling into weakness, I recommend that Fools reflect upon their own tolerance level for gold's painful corrections. I agree. I also think this is true: I am concerned, however, for the well-being of those who may decide to short gold. With the global financial system still highly distressed, I can scarcely conceive of a riskier strategy. True, a correction to test $900 -- or even $800 -- could now be unfolding. But I could just as easily see gold leaping beyond $1,200 in a heartbeat. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 27, 2009 Report Share Posted February 27, 2009 This is my current view: It'll be interesting to see if that curve over actually happens the way I've predicted. Link to comment Share on other sites More sharing options...
lupercal Posted February 27, 2009 Report Share Posted February 27, 2009 Can someone explain the spikes please? from http://goldprice.org/gold-price-euros.html I'm not sure if this should go under the thread http://www.greenenergyinvestors.com/index....amp;#entry98872 Mods please move it if its in the wrong place. Link to comment Share on other sites More sharing options...
frizzers Posted February 27, 2009 Report Share Posted February 27, 2009 Where I work, most people think that buying gold is some sort of joke - even if you show them the Kitko 10 year Gold Chart they just laugh. I think that most are waiting for a resumption of the long term property bull which will start any second now. A few are chuffed because they are benefitting from the current low interest rates on their mortgages. I don't think that anyone believes that there is a possibility of serious wealth destroying trends in the coming years. Suggestions of hyperinflation or long term depression or peak oil are put down to 'dooming and glooming'. We also have a stakeholder pension plan. I don't know of anyone, except for me, who has selected their funds. Everyone has just opted for the default 'lifestyle plan'. The main topics of interest are things like 'celebrity media stuff'; 'Saturday evening singing contests on the TV'; football; holidays; luxury or sports cars; and tabloid newspaper rubbish. If people like these start to buy gold, I will be convinced that we are in the final phase. Nice. I was mad buying gold two or three years ago. Now I am the one who was on the right side of the markets. I am getting flickers of interest from some. When I suggest buying gold and storing at home or somewhere safe, I get a 'What! Actual gold!' . Still not in the mainstream. Link to comment Share on other sites More sharing options...
electroweak Posted February 27, 2009 Report Share Posted February 27, 2009 Was that on the way in or out? Buying yesterday. Link to comment Share on other sites More sharing options...
chazza Posted February 27, 2009 Report Share Posted February 27, 2009 Nice. I was mad buying gold two or three years ago. Now I am the one who was on the right side of the markets. I am getting flickers of interest from some. When I suggest buying gold and storing at home or somewhere safe, I get a 'What! Actual gold!' . Still not in the mainstream. Mentioned to me friend yesterday that I was in PM's, he said "You as well! I've just met 3 or 4 of my colleagues and they are all invested" Ex-city workers, so the trickle down has started. Link to comment Share on other sites More sharing options...
hotairmail Posted February 27, 2009 Report Share Posted February 27, 2009 Buy gold... http://ftalphaville.ft.com/blog/2009/02/26...ately-buy-gold/ end of good article... BNYM’s conclusion: Japan is clearly facing a renewed era of deflation. With that it will have no alternative but to turn on the printing presses at force and even possibly intervene in propping up their stock markets again, something that will ultimately lead the yen to revert to its weaker millennium averages — the analysts’ three-month target being 105 to the dollar. The euro, meanwhile, must suffer in the near-term too because as the dollar element of more diversified global reserves is depleted, the euro weighting becomes increasingly large. With a higher euro risk-weighting anyway on account of increased eurozone sovereign default fears, chances are reserve managers will be looking to limit many of their holdings. Ultimately, BNYM concludes in the current climate, as the history of QE in Japan shows, only gold is likely to outperform. This is especially the case as QE becomes increasingly employed across the world’s predominant reserve currencies (even the Swiss have alluded to the possibility). Conclusion: The clearest buy for investors remains gold. Link to comment Share on other sites More sharing options...
springer Posted February 27, 2009 Report Share Posted February 27, 2009 I have managed to gently persuade a few friends now to look into gold. I have passed on what I have learned from this website (thanks guys) and opened the idea to them that there are possibly dire consequences to follow this 'credit crunch' as they are still calling it. I have passed on goldmoney's website to them, told them how easy it is to use and all I can do now is hope they follow through. It is quite difficult to do cos you want to frighten them enough to make them start doing a bit of research whilst not being considered a doommonger. I try to lightheartedly slip gold into the conversation if it is at all possible even to the plumber who was whining about his shares! You never know it might just prompt them to get off their backsides and do abit of DD. Just trying to do my bit Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 27, 2009 Report Share Posted February 27, 2009 I would say this is a strong indicator of the media interest phase. I have met one person in RL who has invested in gold. How many have you met? For most of the people I talk to or work with, gold simply isn't on their radar yet. I agree with this post wholeheartedly. I haven't met anyone who would even consider gold, let alone know how to buy it. If I mention gold, they start talking about earings & necklaces. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 27, 2009 Report Share Posted February 27, 2009 I started buying gold/silver in 2007, along the way I have talked to lots of people about it, but most have just looked at me like I am mad. So I think we can safely say we are a long way from the mania stage, but believe we will have massive volatility on the way. I am also keeping my opinion to myself these days. I was discussing maybe selling some last night with my partner, to try to take advantage of the swings. We decided that we would hate it if we got it wrong and that it was just greed based, so you can put us firmly in the buy and hold camp. Have been attempting to trade some of the gold stocks within my ISA though, with mild success. Link to comment Share on other sites More sharing options...
tinecu Posted February 27, 2009 Report Share Posted February 27, 2009 How many have you met? None. Most folk I talk to admit its too exotic/scary for them. I've recommended it to many for 2 years now but I can't be much of a salesman! Link to comment Share on other sites More sharing options...
aardvark Posted February 27, 2009 Report Share Posted February 27, 2009 I started buying gold/silver in 2007, along the way I have talked to lots of people about it, but most have just looked at me like I am mad. So I think we can safely say we are a long way from the mania stage, but believe we will have massive volatility on the way. I am also keeping my opinion to myself these days. same here, i know nobody who has bought any gold/silver - a few people are jealous of the 'profits' i've made over the last year or so but see it as too expensive, they still don't get it. Link to comment Share on other sites More sharing options...
springer Posted February 27, 2009 Report Share Posted February 27, 2009 Maybe it is getting more mainstream - just logged onto my email and front page of www.orange.co.uk is talking up gold! Link to comment Share on other sites More sharing options...
FWIW Posted February 27, 2009 Report Share Posted February 27, 2009 WEALTH WARNING: IS THIS ARTICLE RAMPING GOLD? OR IS IT JUST THE TRUTH? YOU DECIDE! LOL! http://www.moneyweek.com/investments/preci...aven-42406.aspx Everyone I speak to says 'Gold is a luxury item'. I used to wonder how they would feel if it became an essential item... Link to comment Share on other sites More sharing options...
Pixel8r Posted February 27, 2009 Report Share Posted February 27, 2009 Maybe it is getting more mainstream - just logged onto my email and front page of www.orange.co.uk is talking up gold! That corresponds quite nicely with the graph below and where I think we are, at the beginning of the media attention stage. Link to comment Share on other sites More sharing options...
FWIW Posted February 27, 2009 Report Share Posted February 27, 2009 That corresponds quite nicely with the graph below and where I think we are, at the beginning of the media attention stage. Looks familiar... Link to comment Share on other sites More sharing options...
springer Posted February 27, 2009 Report Share Posted February 27, 2009 That corresponds quite nicely with the graph below and where I think we are, at the beginning of the media attention stage. Wow -I hope so, if you're right that's some mountain ahead of us! A mania phase in gold would be very nice thankyou! Link to comment Share on other sites More sharing options...
ziknik Posted February 27, 2009 Report Share Posted February 27, 2009 I have, they are good. A lot of coins aren't new though, but in very good nick. Quick service I phoned Hatton Garden Metals today. They’ve got no coins in stock and are struggling to supply existing orders Link to comment Share on other sites More sharing options...
Pixel8r Posted February 27, 2009 Report Share Posted February 27, 2009 Dave has changed his mind again. http://www.greenenergyinvestors.com/index....ost&p=98984 Link to comment Share on other sites More sharing options...
azazel Posted February 27, 2009 Report Share Posted February 27, 2009 Dave has changed his mind again. http://www.greenenergyinvestors.com/index....ost&p=98984 Why you call him Dave? Rodney?? So are we up from here or down? My guess, somewhere in the middle, possibly..... Link to comment Share on other sites More sharing options...
Pixel8r Posted February 27, 2009 Report Share Posted February 27, 2009 Why you call him Dave? Rodney?? So are we up from here or down? My guess, somewhere in the middle, possibly..... http://www.greenenergyinvestors.com/index....ost&p=98508 Link to comment Share on other sites More sharing options...
FWIW Posted February 27, 2009 Report Share Posted February 27, 2009 Why you call him Dave? Rodney?? So are we up from here or down? My guess, somewhere in the middle, possibly..... I have consulted with the tea leaves and here are my findings. [FWIW goes into a trance and is posessed by Mystic Meg] For Gold in USD: Things are not very clear in my crystal ball for Gold priced in USD fiat paper.... Let's consult with the GBP gold gods... Ahhh things are much clearer with Gold Vs GBP....basically screams BUY GOLD! But how can we be sure to be sure????? OK - Let's have a look at GBP Vs USD. Should I stay in GBP or be in USD? So Mystic Meg has spoken sell GBP, BUY GOLD...... Will Dave agree with Mystic Meg? [FWIW wakes up from trance] hmmm. WTF just happened? I need to lay off the coffee! Link to comment Share on other sites More sharing options...
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