Big dip for gold?

DiggerUK

bendix wrote: »

I love you Digger. I really do.:heart2:

......and you celebrate when the price rises because it confirms your view that it's a risk free investment.

A rise from 756 to 767 is not a lot to get excited about.
The long term trend back up to where it has been will be cause for celebration. But only if you get in at bottom of dips like this.

Is our love really real, or do you always talk dirty on the net.

DiggerUK

This has turned into a traditional Friday the 13th moment for me.:(

The late surge that turbo mentioned on Friday 6th to above 1200US has held, the pound has lost over 3 cents, and gold is now kissing 780GBP.

I am not a happy bunny.:sad:
My cash is not available till Monday at best, Wednesday at worst.
If the market does not smile on me, then it will have had the effect of adding 8 or 10 pounds to the price of a sovereign since it's low.

Que Sera, Sera; C'est la vie.

Loopgames

I'm not happy either. We're trying to sell our home and it's still not gone through. I wanted to use some of the capital to put into gold but alas I may have missed another dip.

My father got there just as it hit $39,000 per kilo.

DiggerUK

Loopgames wrote: »

I'm not happy either. We're trying to sell our home and it's still not gone through. I wanted to use some of the capital to put into gold but alas I may have missed another dip.My father got there just as it hit $39,000 per kilo.

It ain't over till Mrs.Digger sings.:lipsrseal

DiggerUK

Well as funds came through today, and despite being off the lows of two weeks back, I bought. My call is that this is about as good as it is going to get for anybody wanting to buy.

But each to their own.

Picking the bottom of a dip, and being placed in a position to take advantage of it, does not happen often enough. You just have to get somewhere near the bottom when buying.

Anyway, the world is as we find it, not as we'd like it.

Loopgames

Lucky you. My dad is happy he took my advice...he was completely unaware a few months ago and now he's looking at placing his life savings into the pot!

DiggerUK

Loopgames wrote: »

...... My dad is happy he took my advice...he was completely unaware a few months ago and now he's looking at placing his life savings into the pot!

The man's bonkers, would love to meet up with him, think we would get on well !!!!!!!!

Loopgames

DiggerUK wrote: »

The man's bonkers, would love to meet up with him, think we would get on well !!!!!!!!

Well he's debt free and nothing to lose as he has mainly dollars saved up - at the rate the dollar is going it will not be worth much by end of the year anyway.

sabretoothtigger

Do you have to buy all at once and all of one type, was it cheaper that way I guess

I estimate the pound will be taking a breather from its recent rises for at least another week. If the dollar were going down alot and we stayed up that'd make gold cheaper perhaps, depends how scared people get.
The euro going back down a bit recently has got the gold price back up I reckon

DiggerUK

sabretoothtigger wrote: »

Do you have to buy all at once and all of one type, was it cheaper that way I guess.
I estimate the pound will be taking a breather from its recent rises for at least another week. If the dollar were going down alot and we stayed up that'd make gold cheaper perhaps, depends how scared people get.
The euro going back down a bit recently has got the gold price back up I reckon

Don't have a lot to disagree with on your point about pound, dollar and euro.
How scared people are is a factor, but the main driver of gold price is all the printy printy from 1945 onwards.

I did buy all at once today. But I have taken a judgement call that it is at the lower part of the down curve. Will of course sulk if it tanks back to 745ish.

If I had the funds at the time I started the thread, then I would have been a bit more cautious and averaged in as it dropped, and shot the pot when I judged the bottom.

I bought UK legal tender gold coins because of CGT concerns.
There has been no major backlash yet to coalition plans, but I suspect that when the liberal party makes it too hot for Clegg and the coalition falls apart, then whatever/whomsoever takes over will milk CGT for all it's worth.
No place for big bullion bars in that scenario, I have already exchanged bars over 250gms in to sovereigns.