Gold, lost its Glister?

Ark_Welder

Too early to buy back into gold. The time to buy gold is when there is milk and honey on the streets.

merlingrey

atush wrote: »

Sorry, haven't seen a post from you today were they the ones removed/moved?

Dont get me wrong, I hold gold, but bought low and sold half when they went past 1400 some time back.


Won't catch me buying again this side of 1100. I prefer to buy low sell high, thanks

You have to take account of currency shifts in the purchase decision you cannot just base it on the dollar.

Gold is £890

Not $1370 @ todays exchange rate, i remember back in 2007 the exchange was $2 -£1 so even $1000 gold was only £500. Back then gold would have had to have hit $1800 to be at todays £ price.

So it does matter obviously.

markwilkinson

Ark_Welder wrote: »

Too early to buy back into gold. The time to buy gold is when there is milk and honey on the streets.

Odd comment really. Well for my intelligence anyway (that's an admission, not an excuse for derision, which I imagine will happen anyway).

I've read much on this thread about gold vs shares etc, with shares (some) being (slightly) underpinned by dividends.

I have both, shares for dividends, mainly. Gold, for other reasons, which I explained earlier in this thread.

Too early to buy now? Not sure about that. Like shares, buying more averages down the cost of your holding?

DiggerUK

gadgetmind wrote: »

Say "fiat currency" five times fast and we'll make a judgement.

I said it three times once, and the candy man appeared, then I said it five times and the boogie man turned up as well.

Fiats why I still hold gold though, there is no way to unwind the QE debasement in my opinion.
Only possible way for it to unwind is by inflation.....and that's on top of the decades of easy money before that in the global economy.

What needs to be established now is, who is selling, why they are selling, and above all....why now?
..._

merlingrey

DiggerUK wrote: »

I said it three times once, and the candy man appeared, then I said it five times and the boogie man turned up as well.

Fiats why I still hold gold though, there is no way to unwind the QE debasement in my opinion.
Only possible way for it to unwind is by inflation.....and that's on top of the decades of easy money before that in the global economy.

What needs to be established now is, who is selling, why they are selling, and above all....why now?
..._

The FED has a special client account with the banks to sell naked shorts, or so i hear anyway:

http://www.paulcraigroberts.org/

padington

I don't think the gold bugs appreciate their own argument. I buy into the idea that the fed is manipulating the price of gold but what people fail to appreciate is how long they can pull this trick off for.

merlingrey

padington wrote: »

I don't think the gold bugs appreciate their own argument. I buy into the idea that the fed is manipulating the price of gold but what people fail to appreciate is how long they can pull this trick off for.

Until the bond market explodes, low interest rates are a superglue to a house of cards, once that's gone it'll only take a gust of wind to take it all down.

We should be worried, i gain no satisfaction from it, i'd rather be in a booming stock market and non-recession economy but you have to play the hand you are dealt and hedge against this sort of thing.

padington

merlingrey wrote: »

Until the bond market explodes, low interest rates are a superglue to a house of cards, once that's gone it'll only take a gust of wind to take it all down.

We should be worried, i gain no satisfaction from it, i'd rather be in a booming stock market and non-recession economy but you have to play the hand you are dealt and hedge against this sort of thing.

In my humble opinion, that's not happening until after 2020 and even then the price of gold will yoyo so much you'll be able to pick up a deal much nearer the time. Better fish to fry in the meantime.

A big storm is coming but best to make hay whilst the sun shines, not time to barricade windows ... Yet.

merlingrey

padington wrote: »

In my humble opinion, that's not happening until after 2020 and even then the price of gold will yoyo so much you'll be able to pick up a deal much nearer the time. Better fish to fry in the meantime.

A big storm is coming but best to make hay whilst the sun shines, not time to barricade windows ... Yet.

I hope you are right i'm 70% in stocks.

black_taxi_2

if price falls to $1200,that's where mining companies are on make or break,panic will set in