GOLD

[jinbal]

 

Looking at the previous pattern on a relative chart, even if the gold price in US dollars declined in the next few months, it could easily increase at the same time...when priced in pounds.

 

This chart is saying diversify out of Sterling.... whether into the dollar, gold, or both.

Yes I definitely agree with getting shot of any sterling asap

[Catflap]

Perhaps... but my "very bullish" comment was referring to the MACD on the weekly chart. On the face of it, the momentum is with the dollar at the moment.

 

MACD is a momentum oscillator that lags too much, even more so on a weekly chart. The long black candle and red hammer on the daily chart is NOT bullish!. The 'Catflap dollar fractal' says the next move is down and it should last 6 months - IMO this has simply been a multi-week advance for the dollar in a multi-month decline.

[Manual labourer]

Hi, I have way too much of my cash assets in sterling, I want to get more into gold, but have been waiting for a date for maturity and access to from a couple of policies.

 

I have been like a scared rabbit in the headlights I can see what is coming but too scared to move! Until now and I want to move fast.

 

I wouldn't feel comfortable with holding physical gold at home, more than a few coins I have bought bits but nothing substantial.

 

A. Would it be advisable to buy mini contracts of the mini gold ie 33.2 ounces per contract I believe, or open a spread betting account and go long with the leaveraged cash available,whilst waiting for access to the cash without penalty.

 

When the cash is then available,close the contacts out and convert to physical.

 

 

B. Where would you store physical gold? Would a locked box at the local bank be ok, do banks do this? Reply by PM if more comfortable!

 

 

C. What percentage of your liquid assets are in Gold Silver or other Currencies.

 

I have decided on going upto 55% Gold 10% Silver 10% NKRONA 20% Dollar 5% Sterling

 

 

Would this be areasonable spread in your opinion.

 

 

All answers gratefully accepted in advance. All opinions sought.

 

Regards

 

ML.

 

Ps. I Know this is basic stuff to some of you guys on here, so apologies in advance.

[romans holiday]

MACD is a momentum oscillator that lags too much, even more so on a weekly chart. The long black candle and red hammer on the daily chart is NOT bullish!. The 'Catflap dollar fractal' says the next move is down and it should last 6 months - IMO this has simply been a multi-week advance for the dollar in a multi-month decline.

I'm not disagreeing with you on the daily/ immediate term. On the daily chart, the dollar will most probably turn down here. But then I'd interpret that as a consolidation within a wider time-frame [repeat of the previous consolidation]. However, after consolidating for a period of weeks, I think the dollar will resume its upward trajectory. It's the weekly chart that looks more bullish in the longer term. Aside from the technicals, I think there is a strong macro reason why the dollar will strengthen this year; investors will take risk off the table as sovereign debt concerns mount. This would see peripheral currencies contract with capital moving to the central dollar.

 

I think the dollar has broken out of it's multi-month decline.

 

 

 

http://www.marketoracle.co.uk/Article17397.html

The weekly chart of the US dollar index is shown below, with upper 21 and 34 MA Bollinger bands in close proximity to the index, suggestive that further upside potential is probable. Full stochastics 1, 2 and 3 are shown below in order of descent, with the %K above the %D in 1 and 2 and beneath the %D in 3. Although the %K in stochastic 1 is toppy, the %K in stochastic 2 is still in its infancy with respect to a potential advancement. The USD is likely to consolidate over the next 6-8 weeks before breaking out, so keep this in mind with investments. The weekly chart for the USD remains bullish 4 to 6 months out.

 

Maybe we need a dollar thread for this stuff.

[romans holiday]

Hi ML, I'd advise to steer clear of leverage. There is way too much uncertainty out there. When you buy gold you are buying safety... but gold can also take a hit in the short term, so is better to stay away from leverage which can be a killer.

 

50% sounds good, but it's really what you are personally comfortable with, and what your convictions are. Diversity in the strongest currencies is the way to go imo.... and gold can certainly be considered a strong currency.

 

Having some physical gold to hand is nice, having some in a vault, and then also some in an allocated account is convenient. Once again, diversity.

[Manual labourer]

Hi ML, I'd advise to steer clear of leverage. There is way too much uncertainty out there. When you buy gold you are buying safety... but gold can also take a hit in the short term, so is better to stay away from leverage which can be a killer.

 

50% sounds good, but it's really what you are personally comfortable with, and what your convictions are. Diversity in the strongest currencies is the way to go imo.... and gold can certainly be considered a strong currency.

 

Having some physical gold to hand is nice, having some in a vault, and then also some in an allocated account is convenient. Once again, diversify.

 

Thankyou, I value your opinion very highly.

 

I would only leverage up to the amount I am waiting to mature in a few months from other investments.

 

So in effect investing today via leverage whats maturing tomorrow.

 

Re comfort level, all I can say is the small amounts I hold in physical feel secure in comparison to printy printy sterling.

 

The only worry I have is the threat to print more was made this resulted in a big price reaction with GBP falling heavily !

 

Should no printy printy arrive then price of this reaction is now being buit in already, and should an surprise inflation busting rate increase occur, then this would cause a double reaction, if you follow my reasoning?

 

However gold is in a long term bull market as I see it so for the moment I SEE IT AS THE SAFEST OF PLACES TO BE?

 

Regards

 

ML.

 

 

 

[electroweak]

Hi, I have way too much of my cash assets in sterling...

 

A. Would it be advisable to buy mini contracts of the mini gold ie 33.2 ounces per contract I believe, or open a spread betting account and go long with the leaveraged cash available,whilst waiting for access to the cash without penalty.

When the cash is then available,close the contacts out and convert to physical.

I would stay clear of spreadbetters as it might only take one bad tick and you could be wiped out. Possibly better to buy options or futures than a straight 'long bet with stop-loss'.

 

B. Where would you store physical gold? Would a locked box at the local bank be ok, do banks do this? Reply by PM if more comfortable!

home. deposit box. BV. GM. Diversify; safer.

 

C. What percentage of your liquid assets are in Gold Silver or other Currencies.

 

I have decided on going upto 55% Gold 10% Silver 10% NKRONA 20% Dollar 5% Sterling

 

 

Would this be areasonable spread in your opinion.

seems ok to me; personally I am about 95% PMs. NKrona and CAD would be my choices for now if needing to hold 'cash'.

[Manual labourer]

I would stay clear of spreadbetters as it might only take one bad tick and you could be wiped out. Possibly better to buy options or futures than a straight 'long bet with stop-loss'.

 

 

home. deposit box. BV. GM. Diversify; safer.

 

 

seems ok to me; personally I am about 95% PMs. NKrona and CAD would be my choices for now if needing to hold 'cash'.

 

 

Thankyou for your reply, it is very much appreciated, especially your figure of investments in Pm, would you care to say the splits you hold.

 

I think I will stay away from leveraged, probably feed in to position 10% a week on increasing strength of gold, by cashing in my other investments early.

 

 

If you were to sit in any currency at the moment whilst feeding into gold which currency would it be? Question open to anybody.

 

Regards

 

ML.

 

 

[electroweak]

Thankyou for your reply, it is very much appreciated, especially your figure of investments in Pm, would you care to say the splits you hold.

 

I think I will stay away from leveraged, probably feed in to position 10% a week on increasing strength of gold, by cashing in my other investments early.

 

 

If you were to sit in any currency at the moment whilst feeding into gold which currency would it be? Question open to anybody.

 

Regards

 

ML.

About 70% Gold, 30% Silver. Missed the palladium boat! This amounts to >1.5 years' gross salary for me

 

[Methinkshe]

...................and still I haven't bought any gold!

 

I'm either the last of the idiots on GEI or the first of the sane!

 

And I know without waiting for a reply which category most are going to put me in.

 

And still I cannot put my finger on why I am so reluctant to buy gold.

 

Something, somewhere doesn't add up.

 

But I'll keep listening to the gold-bugs and gold-buyers in the hope that one of these days the penny will drop or I'll work out why I have been so reluctant to allow the penny to drop.

 

Either way, thanks for all the input.

 

 

 

 

 

 

[warpig]

Never mind.

 

...................and still I haven't bought any gold!

[dietcolaaddict]

Something doesnt look right about that RSI indicator.

How can it still be "overbought"?

Cheers Bubb, Im a bit snowed under with the day job at the mo but will test and verify my provisional results when I get some time, and post a corrected version.

 

Any other technical indicators that would be of interest here?

 

 

[icicle]

Cheers Bubb, Im a bit snowed under with the day job at the mo but will test and verify my provisional results when I get some time, and post a corrected version.

 

Any other technical indicators that would be of interest here?

 

 

Volume?

 

Nice chart BTW.

[sylvester]

Previous thread here:

http://www.greenenergyinvestors.com/index....0&start=500

 

[sylvester]

The March thread is now alive:

http://www.greenenergyinvestors.com/index.php?showtopic=9344

[azazel]

I think Im right in saying that gold has just made a record high as of 10pm tonight at £737. I assume this is due to the falling pound.

[warpig]

Yeh it looks like it. Nevertheless, it's nice to see a new high!

 

I think Im right in saying that gold has just made a record high as of 10pm tonight at £737. I assume this is due to the falling pound.

[Catflap]

Did anyone notice that gold had broken out of it's falling wedge pattern last week?.... the next move up is underway.

 

RH - there is a dollar thread and it needs repinning as we are already at the beginning of a major trend change in equities/gold/dollar.

[romans holiday]

Did anyone notice that gold had broken out of it's falling wedge pattern last week?.... the next move up is underway.

 

RH - there is a dollar thread and it needs repinning as we are already at the beginning of a major trend change in equities/gold/dollar.

You mean this one?

 

http://www.greenenergyinvestors.com/index....0&start=260

[azazel]

Did anyone notice that gold had broken out of it's falling wedge pattern last week?.... the next move up is underway.

 

RH - there is a dollar thread and it needs repinning as we are already at the beginning of a major trend change in equities/gold/dollar.

 

Its what we have been expecting (pix lines). Where do you think it will peak in dollars on this move up?

[Manual labourer]

Chris -CT

 

"About 70% Gold, 30% Silver. Missed the palladium boat! This amounts to >1.5 years' gross salary for me

Go to the top of the pageReport Post"

 

 

+

 

This is a really helpfull post for people who are a little late for the start of the party, and encourages me to join in.

 

Cheers Chris,

 

Would anybody else like to add the current position.

 

Mine of liquid assets is :- 10% gold 2% silver 88% sterling.

 

My liquid savings are 3.5 times my income stream.

 

 

Regards

 

ML

[azazel]

Chris -CT

 

"About 70% Gold, 30% Silver. Missed the palladium boat! This amounts to >1.5 years' gross salary for me

Go to the top of the pageReport Post"

 

 

+

 

This is a really helpfull post for people who are a little late for the start of the party, and encourages me to join in.

 

Cheers Chris,

 

Would anybody else like to add the current position.

 

Mine of liquid assets is :- 10% gold 2% silver 88% sterling.

 

My liquid savings are 3.5 times my income stream.

 

 

 

Regards

 

ML

 

80% gold, 20% silver.

 

[Manual labourer]

80% gold, 20% silver.

 

 

Thankyou for your reply.

 

So of your liquid assets you are totally committed to PM.?

 

If so what % of your gross yearly income is in PM?

 

I think that is an important factor to guage commitment?

 

Regards

 

ML

[azazel]

Thank you for your reply.

 

So of your liquid assets you are totally committed to PM.?

 

If so what % of your gross yearly income is in PM?

 

I think that is an important factor to gauge your commitment?

 

Regards

 

ML.

 

Im all in with my savings at the moment, all my income gets spent on cost of living so I doubt I will be buying any more PMs.

[The Mad Hatter]

Erm - are we still discussing gold? Where are the rocket pictures? Or do we all know that this current rally is because the pound is toast?