Gold price to go steady, dips imminent?

DiggerUK

I've been fairly consistent in predicting when dips in price of gold are imminent, up to now.
Maybe this is when I get my judgement call badly wrong. If so, then start preparing the humble pie.

The points in favour of rises are same as they ever were, printy printy, coming home to roost.
The ever increasing money supply since the end of World War 2, had to debase currencies to such a level, that the point of no return was bound to be reached.
I still feel that the point of no return has been passed, but the tipping point is still to come.
(But relax, I do not think it is happening this weekend.)

That being said, I am still of the opinion that prices are going to dip in the near future. For how long, and how far we will have to wait and see.
In the main, I think that the recent plasters that have been put on Europe's woes, and the inevitable deal that the US will stitch together, will be like giving an alcoholic a Special Brew, calming, but useless.
So if you are considering investing your savings in to gold, hang on for a short while.
Just my opinion, but beware, I'm bonkers.
..._

Lokolo

This is a repeat post, not sure why though...

Losing your marbles in your old age are we Digger?

DiggerUK

Lokolo wrote: »

This is a repeat post, not sure why though...Losing your marbles in your old age are we Digger?

Marbles are long gone, the round stuff, that means I have the courage to call it, remain.

atush

I don't know what will happen, but as my 175% up on gold to date shows I am a bit of a contrarian. This may not be because I am wise, but may be because I prefer to go the opposite way when lemmings are leading the charge.

I sold half recently at 1430. will consider selling other half at 1800+? But bought quite a while ago when far lower before the prev banking crash and have had all my original invsmnt out and then some.


I am very uncomfortable jumpng in when all the others are there int he water, and much happier jumping when eveyine else is watching the sunset?.
but I am not buying.

DiggerUK

atush wrote: »

.....I sold half recently at 1430. will consider selling other half at 1800+? ..........but I am not buying.

And what exactly was your cunning investment plan with the paper you received at Easter?
Selling at the price you did, does not exactly demonstrate a good call does it.
Not related to Gordon Brown are you!
..._

atush

Given that I made 175% what IS YOUR POINT?

My point was taking profits. The only way to turn paper profit into actutal money.

yet I left half my holding (which in effect cost me nothing).

I take profits occsionally when I am sitting on a huge profit so can't see the forrest for the trees. doens't mean I don't like the investment, nor does it mean I dont think my rump holding wont rise (it has so I am quids in). It just means I am not sitting on a pile of worthless paper at some distant point.

My mother bought lots of gold in the early 80's and when she died in dc in 2001 I sold it all at a loss as her executor. It goes both ways.

atush

PS half the proceeds are woting to be invested. I am sitting on 3 ideas.

the other half was spent on this year's rent for my uni student.



So bills paid, cash waiting for the nest crash for me to invest, and half my investment still there growing (which in effect has cost me nothing).

Not sure how I went wrong there lol but I am sure you will enlighten us all?

DiggerUK

atush wrote: »

.....I sold half recently at 1430. will consider selling other half at 1800+? .......

atush wrote: »

Given that I made 175% what IS YOUR POINT?....My mother bought lots of gold in the early 80's and when she died in dc in 2001 I sold it all at a loss as her executor. It goes both ways.

Which implies that you sold at about $270 an ounce in 2001, bought in again at about $575 an ounce in 2006, and then sold at $1430 an ounce around last Easter.
As gold is still kissing $1600 an ounce today, it does seems a little unfortunate for you.
Have you always been so accident prone?

Why so attached to US$ when we trade in pounds.

The account of your gold trades sounds fanciful, not credible.

atush

Which implies that you sold at about $270 an ounce in 2001, bought in again at about $575 an ounce in 2006

Don't be silly, I didn't sell at 270 only to buy at 575. My mothers estate HAD to sell at 270 as that is the rule of executorship- have you ever been one? To not sell would have been criminal as liquidating assets to pay creditors and beneficiaries is the job. Holding back on krugerands and canadian maple leaf coins would have got me arrested.

My first ever purchase of gold was in 2006.

My point was and is that gold has lost ground in other periods of time. I am satified it won't be tanking any time soon, but felt that it was a good time to bank some profits.

atush

what about rare earth metals?

Masomnia

'Asset at record price may fall back a bit'

Not going to disagree with you there.