Bumble Bees, Gold and a Single Scoop Recession.

getzegold

dqnet wrote: »

hahah
gold prices went down today!

Yes briefly dipped to 1328 and I was thinking wow thats cheap didn't last long though now its back at 1345

getzegold

DiggerUK wrote: »

So, DYODD won't be your chosen subject on Mastermind then.

done my own due dilligence years ago and have reaped the benefits since, maybe you should give it a try. perhaps your not so good at it, if you were you might have considered buying in 2008 when gold was $720 or 2009 @$840. Now its $1345 quite a profit don't you think? pity you missed it hey?:D

DiggerUK

getzegold, I am happy to encourage savers to invest in gold as a risk free asset.
Which is why I posted this thread to encourage others to consider doing so, given the advantageous price to buyers in the UK.
As you know full well, it is at all time highs were you are.

One of the reasons we at Digger Mansions are still heavily in to gold is the performance to date, as well as it's safety for our retirement pot.
On this side of the Atlantic we have a total average of 596GBP per ounce troy, and do not rule out buying more.

getzegold

DiggerUK wrote: »

getzegold, I am happy to encourage savers to invest in gold as a risk free asset.
Which is why I posted this thread to encourage others to consider doing so, given the advantageous price to buyers in the UK.
As you know full well, it is at all time highs were you are.

One of the reasons we at Digger Mansions are still heavily in to gold is the performance to date, as well as it's safety for our retirement pot.
On this side of the Atlantic we have a total average of 596GBP per ounce troy, and do not rule out buying more.

I'm in the UK too but I always use usd price as I trade gold and silver in usd. Hoping BoE will announce some further QE should help with price appreciation in GBP

I won't be buying anymore I've got enough. Almost bankrupted myself buying the dam stuff and I keep very little cash in account just 10k for emergencies and theres now way I'm selling any of it for a good while yet

Sorry if we got off on a bit of a wrong foot but like is usually met with like and civilty with civility.;)

getzegold

Heres an excellent but short article on PM price supression by the large commercials from an experienced trader who knows his stuff:

Anyone following the futures market for silver know that the large commercial traders, banks such as JPM, always win. That is until now.

During the bull market in silver that began in 2001, a pattern of trading similar to the martingale betting strategy emerged in which 8 trading institutions sold short increasingly larger amounts of contracts into rallies until their sales volumes overwhelmed the market into a freefall. The same banking institutions would then purchase those short positions at a profit after the freefall and the rally process would begin again. This process of taking money from precious metals investors has been well documented by analysts such as Ted Butler, David Morgan, and others. The strategy has been so successful that some futures traders began to front run the banks on their own tactics using the COT report and other sentiment indicators.

It has been argued that these large short positions have suppressed the price of silver by a multiple of itself. This may be proven sooner than many expected.

http://tradeplacer.com/blog/2010/10/08/1286584740000.html

(Edit: sorry wrong thread but interesting anyway)

Loopgames

getzegold wrote: »

I'm in the UK too but I always use usd price as I trade gold and silver in usd. Hoping BoE will announce some further QE should help with price appreciation in GBP

I won't be buying anymore I've got enough. Almost bankrupted myself buying the dam stuff and I keep very little cash in account just 10k for emergencies and theres now way I'm selling any of it for a good while yet

Sorry if we got off on a bit of a wrong foot but like is usually met with like and civilty with civility.;)

How do you decide when it's enough? Out of curiosity because I'm debating whether to take out a loan but is that too tabboo here to discuss as it's probably frowned upon!

My theory is that borrowing today will mean I'll owe less next year if I converted the loan at today's silver/gold price and then sold them hence a profit.

getzegold

Loopgames wrote: »

How do you decide when it's enough? Out of curiosity because I'm debating whether to take out a loan but is that too tabboo here to discuss as it's probably frowned upon!

My theory is that borrowing today will mean I'll owe less next year if I converted the loan at today's silver/gold price and then sold them hence a profit.

I'm prob not the best person to ask as over 70% of all investments are gold silver related the rest ag energy and mining shares and cash. But yes the idea of that kind of borrowing is common practice and is called the carry trade when applied to forex dealing. ie borrow in one currency at low interest and buy other Currency with higher interest. The prob with that is that if you need to unwind your 'trade' you'll need to close the loan should the market move the wrong way. if your sure that gold and silver will keep going up then taking out a low interest loan if you have no other available collateral is one way to gain exposure. it carries risk as does every investment decision so DYODD

dqnet

Just as I went to buy some today, look at the prices! they've gone up by over 10 pounds!
Im worried that I should just wait now! what does everyone else think?
http://www.goldline.co.uk/investmentBars.jsp?&goldBarIdx=13

getzegold

dqnet wrote: »

Just as I went to buy some today, look at the prices! they've gone up by over 10 pounds!
Im worried that I should just wait now! what does everyone else think?
http://www.goldline.co.uk/investmentBars.jsp?&goldBarIdx=13

very tricky question. people have been calling for a correction for over a month but still no major correction. even if it does correct by say £20 or more for a few days it will no doubt continue to rise.

Goldman sachs is predicting $1650 and Unicredit $1450 next year

What if it doesn't correct? We have a very important date on nov 3 when the fed either initiates QE2 or lets the markets down, either way its going to affect the gold price.

Those that didn't buy during the summer lull are now in a very difficult position, buy or not? i'm sure your not alone. The gold price tends to rise between sept and jan on a yearly basis with often a correction in oct, but these days nothings guaranteed. your call I guess. If it was me I'd buy while its still available.

purch

Im worried that I should just wait now! what does everyone else think?

It would depend on your timeframe and reasons for wanting to hold Gold.

Gold is clearly in a long term secular Bull market, and will certainly be higher than it is currently in 1 year, and in subsequent years too.

Within the bull market there will be many minor and major corrections, as we have seen in the past few years, but so far none of those corrections have come remotely close to breaking the uptrend.