What The Hell, A New Gold Thread.........

sabretoothtigger

http://www.telegraph.co.uk/finance/4682554/Gold-hits-record-against-euro-on-fear-of-Zimbabwean-style-response-to-bank-crisis.html

cloud_dog

Nice, balanced article.............

"Gold and Silver's Bull Market Correction and Oil's Stuck in a Barrel"

http://www.safehaven.com/article-12639.htm

stv1x

Gold now $1002 per oz

:rolleyes:

cloud_dog

We'll its had a huge run up today and I've decided to take the majority, posibly even the majority of the majority off the table - 2/3rds.

Have also liquidated all my daughters CTF in CEF. Her CEF investment was sooooo close to doubling in GBP value, and I think it would have done if there hadn't been the exchange rate movement today.

Anyway lets see where it goes, hopefully a nice little correction

cloud_dog

mini_lidi

I hate gold
all this time i spent debating wether to buy or not
If only i had

thrupence

bubblesmoney wrote: »

i guess the mines profitabilty depends on the quality of the ore and costs involved in extracting gold. read somewhere that in some places the cost can come up to 600-750$ per ounce!!! that makes them seriously unprofitable if costs rise. obviously the ones with lesser costs will survive. but low oil prices isnt going to last long..

You could always invest in one which is in partnership with an oil-producing government in the early stages of exploiting its massive gold resources and providing cheap oil and tax-free status until 2011.

http://www.gmaresources.plc.uk/

Better still, it's currently ramping up production month on month:

http://www.marketintelligence.gold.org/news/2009/02/06/story/11301/record_january_gold_production_for_gma_resources

:j

cloud_dog

mini_lidi wrote: »

I hate gold
all this time i spent debating wether to buy or not
If only i had

Mini, you did the right thing in not buying. If you think about it Golds gone up about 7% since you started looking to buy some - not a huge rise compared to the risk.

My daughter's CTF has been invested in Central Fund of Canada for over 2 1/2 years. So it has been a good medium term investment. My purchases of gold started a few years before that.

The other thing to talk about is what happens now.............. I'm hoping that it may have reached a top and will (today or at some point in the near future) start correcting (going down in price). If this is the case then the correction could be 10-15% or 25-30%.

I am no expert and can only hope for the correction to play out but, if it does then I will start re-assessing and possibly accumulating when it reaches those points.

You have done yourself a favour by not investing recently. If it corrects then this will be an opportunity to invest should you really want to.

EDIT: I've assumed its not going to continue sky-rocketing

cloud_dog

sabretoothtigger

So you didnt sell it previously when it 1000 but thats a good price now, surely its more justified today then it was then

mini_lidi wrote: »

I hate gold
all this time i spent debating wether to buy or not
If only i had

Gold is a long term thing, easy answer is dont speculate day to day just buy on a regular basis if you think it will rise long term.

I think you can get a gold etf for 1.50 commission on a monthly share builder?

thrupence

mini_lidi wrote: »

I hate gold
all this time i spent debating wether to buy or not
If only i had

This bloke just found this big bit in the ground:

http://www.gmaresources.plc.uk/tirek_mine_photo_gallery/images/pic_034.jpg

mini_lidi

i knew i lost some somewhere :P
lol