electroweak Posted February 2, 2011 Report Share Posted February 2, 2011 Just bought myself a couple of ounces using GBP.. A nice little dip there whilst the pound skyrocketed Link to comment Share on other sites More sharing options...
Ret45 Posted February 2, 2011 Report Share Posted February 2, 2011 Don't know about the rest of you, but this correction in price of gold and silver is manna from heaven to me. I remember a few months ago wondering would a dip in price ever come. I built up cash in my BV account and sold about 10% of my gold when it hit $1400 and now I am buying all the way back down, and my strong euro is a bonus. I am buying with a three to four year time frame in mind. Think we could get back into the low $1200s but only briefly. Link to comment Share on other sites More sharing options...
huntergatherer Posted February 2, 2011 Report Share Posted February 2, 2011 Gold fails in the battle for higher risk appetite opportunities Published on: February 02, 2011 at 16:35 As Gold makes slow and steady decline, investors are turning to higher risk appetite investments virtually ditching the yellow metal which gave them safe haven for long. Traders and speculators in the international market did not find any reason to go long at the moment because the big hedge funds were keeping money away from the Gold market. http://www.commodityonline.com/news/Gold-f...-36164-3-1.html Link to comment Share on other sites More sharing options...
DoctorSolar Posted February 2, 2011 Report Share Posted February 2, 2011 Gold fails in the battle for higher risk appetite opportunities Published on: February 02, 2011 at 16:35 As Gold makes slow and steady decline, investors are turning to higher risk appetite investments virtually ditching the yellow metal which gave them safe haven for long. Traders and speculators in the international market did not find any reason to go long at the moment because the big hedge funds were keeping money away from the Gold market. http://www.commodityonline.com/news/Gold-f...-36164-3-1.html Hi HG, I notice a steady stream of gold bear articles being posted by yourself of late. Care to add your own comments to these pieces? Or do these articles perfectly sum up what you are thinking currently? Cheers Link to comment Share on other sites More sharing options...
huntergatherer Posted February 2, 2011 Report Share Posted February 2, 2011 Hi HG, I notice a steady stream of gold bear articles being posted by yourself of late. Care to add your own comments to these pieces? Or do these articles perfectly sum up what you are thinking currently? Cheers Hi DS, My core position in Au was purchased below $925 so have a buffer to corrections. I have tried not to buy on the highs and try to remain alert on the falls with prices falling back to say $1250-$1000 or below (if at all possible) would bring me back into the market with remaining funds. The price certainly got ahead of itself in the run up from the autumn and did not buy into rally up. Since Au purchases I have bought back into Ag in autumn 2009 which, as we know, went up 82% last year with Au up 28%. I have posted some bearish articles as evidence of bearish market sentiment which probably sums up some current thinking but each to their own etc. Cheers Link to comment Share on other sites More sharing options...
DoctorSolar Posted February 2, 2011 Report Share Posted February 2, 2011 Hi DS, My core position in Au was purchased below $925 so have a buffer to corrections. I have tried not to buy on the highs and try to remain alert on the falls with prices falling back to say $1250-$1000 or below (if at all possible) would bring me back into the market with remaining funds. The price certainly got ahead of itself in the run up from the autumn and did not buy into rally up. Since Au purchases I have bought back into Ag in autumn 2009 which, as we know, went up 82% last year with Au up 28%. I have posted some bearish articles as evidence of bearish market sentiment which probably sums up some current thinking but each to their own etc. Cheers Thanks for that HG. Yes there is quite a lot of bearish sentiment around. My take is that it might signal we are close to the bottom here. But who knows... I'm prepared for further falls if they happen. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 3, 2011 Author Report Share Posted February 3, 2011 The FT: http://jsmineset.com/2011/02/02/hourly-act...trader-dan-400/ Precious metals traders in London and Hong Kong said on Wednesday they were stunned by the strength of Chinese buying in the past month. “The demand is unbelievable. The size of the orders is enormous,” said one senior banker, who estimated that China had imported about 200 tonnes in three months. Link to comment Share on other sites More sharing options...
THEBIGMAN Posted February 3, 2011 Report Share Posted February 3, 2011 http://www.zerohedge.com/article/complete-...year-end-letter Link to comment Share on other sites More sharing options...
Tictac Posted February 3, 2011 Report Share Posted February 3, 2011 Given Jim Cramer's track record this perhaps does not bode well for the price of gold in the short term. http://www.moneynews.com/StreetTalk/Jim-Cr...02/02/id/384763 Link to comment Share on other sites More sharing options...
Pixel8r Posted February 3, 2011 Report Share Posted February 3, 2011 Given Jim Cramer's track record this perhaps does not bode well for the price of gold in the short term. http://www.moneynews.com/StreetTalk/Jim-Cr...02/02/id/384763 I think it is a good sign the public need to get on board for the final mania stage. I expect he will still be encouraging people to buy just before we reach the end. Link to comment Share on other sites More sharing options...
Tictac Posted February 3, 2011 Report Share Posted February 3, 2011 I think it is a good sign the public need to get on board for the final mania stage. I expect he will still be encouraging people to buy just before we reach the end. Do you think we are that close to the "mania stage" - I still feel we're a few years away. Link to comment Share on other sites More sharing options...
jsr Posted February 3, 2011 Report Share Posted February 3, 2011 Gold broke 1350! Not happy . Link to comment Share on other sites More sharing options...
tinecu Posted February 3, 2011 Report Share Posted February 3, 2011 Gold broke 1350! Not happy . That's some serious buying Link to comment Share on other sites More sharing options...
hockeyplayer Posted February 3, 2011 Report Share Posted February 3, 2011 TAX Do people realise that if you are based in the UK and you invest in gold sovereigns. You are not liable for capital gains tax on this investment. So if you make £100,000 on your coin investment then you keep the lot. If you choose to invest in shares or an ETF then you are liable for the tax and you only get to keep 72,000 and you have to give the rest to the treasury. For me this is a major reason not to invest in shares. You have a 28% head start over any share investment. I don't think people are aware of this tax free perk. Link to comment Share on other sites More sharing options...
frizzers Posted February 3, 2011 Report Share Posted February 3, 2011 Link to comment Share on other sites More sharing options...
d2thdr Posted February 3, 2011 Report Share Posted February 3, 2011 IMO, Ther wont be a mania stage in physical gold. Common man wont be able to afford the real stuff when the currencies have hyperinflated. Strong hands and all that. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 3, 2011 Author Report Share Posted February 3, 2011 FFS, 2h off the screen AND THIS! Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 3, 2011 Author Report Share Posted February 3, 2011 ... Interesting, but difficult to decipher. Link to comment Share on other sites More sharing options...
Schaublin Posted February 3, 2011 Report Share Posted February 3, 2011 IMO, Ther wont be a mania stage in physical gold. Common man wont be able to afford the real stuff when the currencies have hyperinflated. Strong hands and all that. Agreed, talk of a 'mania stage' is only applicable when applied to a bubble. The fiat price of gold merely reflects the increasing worthlessness of paper. There will be a point in the future when the purchasing power of gold vs oil and land will be at its maximum but there will be no collapse. Using the last period of the gold bull - 1970s as a reference is not at all useful because the Western economies were at that time basically sound. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 3, 2011 Report Share Posted February 3, 2011 Do you think we are that close to the "mania stage" - I still feel we're a few years away. I think we could be approaching the start of the mania, more and more people I have been talking to about gold for years are finally asking me about buying. I have always been expecting the mania to start in 2012, but how knows really could start early just depends on how much the printing escalates. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 3, 2011 Report Share Posted February 3, 2011 IMO, Ther wont be a mania stage in physical gold. Common man wont be able to afford the real stuff when the currencies have hyperinflated. Strong hands and all that. You don't think there will be mania just before the hyperinflation starts as it becomes more and more obvious what is going to happen, I do. True in the final stages of hyperinflation you won't be able to buy it, but I think the mania will start before then. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 3, 2011 Author Report Share Posted February 3, 2011 Because of its divisibility, people will always be able to buy some gold. Only, it might be very little indeed. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 3, 2011 Author Report Share Posted February 3, 2011 So, GBP 817 was possibly the bottom. Link to comment Share on other sites More sharing options...
narrowescape Posted February 3, 2011 Report Share Posted February 3, 2011 So, GBP 817 was possibly the bottom. Looks like it might have been. Quite a jump up today. Did not cash out at the peak and was almost lamenting the money I never collected even though I consider myself to be a long term physical holder. Having 'lost' 30K in the last month it is reassuring that I was likely right in not losing my nerve... Link to comment Share on other sites More sharing options...
electroweak Posted February 3, 2011 Report Share Posted February 3, 2011 Looks like it might have been. Quite a jump up today. Did not cash out at the peak and was almost lamenting the money I never collected even though I consider myself to be a long term physical holder. Having 'lost' 30K in the last month it is reassuring that I was likely right in not losing my nerve... Think we need to measure wealth in ounces, not 'k'. Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now