Time to Buy Gold?

tejero23f

JPM natural recourses and Junior Gold have been heading south for the last 2 years- a disaster for those who bought in 3 years ago- is it now time to invest?

Archi_Bald

tejero23f wrote: »

JPM natural recourses and Junior Gold have been heading south for the last 2 years- a disaster for those who bought in 3 years ago- is it now time to invest?

It might be if you want to support those that desperately want to see the price go up.

PS. It is JPM Natural Resources. No recourse involved.

C_Mababejive

Beware catching a falling knife

chucknorris

tejero23f wrote: »

JPM natural recourses and Junior Gold have been heading south for the last 2 years- a disaster for those who bought in 3 years ago- is it now time to invest?

I've never been able to find out who gives mortgages to buy gold, and equally important who I can rent the gold to, to cover the mortgage interest, so I guess I won't be buying any gold as I certainly don't want to buy it with my money when it provdes no income.


EDIT: Apparently it does give an income, subject to dividends, but still doesn't work for me.

lvader

He's not looking to buy gold, he is looking at funds that do provide an income.

chucknorris

lvader wrote: »

He's not looking to buy gold, he is looking at funds that do provide an income.

Fair enough but I'm still not interested, because you would still have to fund it 100% yourself, without any subsidised leveraging.

planteria

so you are saying: 'don't buy gold equities, buy houses'. is that right chuck?

do you not invest in equities at all?

tejero23f

Thank you for your correction Archi Bald it made me chuckle! yes I was of course referring to investment funds, junior Gold has lost almost 80% of it's value of 3 years ago-one of the worst performing funds.
But do you remember Legg mason japan which quite a few years ago was in the same position, stumbling along at the bottom of the chart until the beginning of this year when it rocketed increasing it's value by up to 80% at one time, wish I had jumped on then.
i'm sure Gold will take off again, it's just a case of watching carefully and catching the wave.
Merry Christmas all !

chucknorris

planteria wrote: »

so you are saying: 'don't buy gold equities, buy houses'. is that right chuck?

do you not invest in equities at all?

No that's not right, I just don't like gold, my post started with a misunderstanding thinking that the OP was simply buying gold. Currently I have about 270k in equities which I will probably boost to 500k at or before retirement in a few years. I may even invest much more if I decide to sell some property to ease my management burden during retirement. But I am not a fan of individual shares

sabretoothtigger

Buy now =

So far its a lull, no buy!

C_Mababejive wrote: »

Beware catching a falling knife

Or wear chainmail gloves


Now is not the time to invest. We have a new Fed chair coming in and she is so wonderful it would be pointless to have any gold

Until that sentiment turns, more losses is normal and gold at 1000 is still high enough that mines will continue to sell as much as they can.

India is trying to stop its people buying gold, other nations are not as keen or not able to buy for personal use.


Its not my own strategy but it might be best to buy strength not weakness so ironically a price already rising 10% or more might be more certain.

Theres a 50 day rule some keep, not to buy when current price is below the last 50 days average price as in all probability it will continue to fall.

I buy miners when I think people are fleeing like rats on a sinking ship. Like AAZ which fell 50p to 15p.
Disaster they found more copper then expected, or not really a disaster but disappointment.
The overall trend is down though, maybe to 800 but I expect a proper turn when we realise the new Fed Chair is another casting from the muppet show. It will become obvious at some point, its not now though

The main theme is irony, so when we have a seller of 147.2 million oz. troy of gold that is the time to buy. Massive weakness and apparent market failure is when the solid sales like gold will count most.
147m would the content of Fort Knox, unlikely but possible and certainly its a waiting avalanche but ironically that event would be bullish long term I think; ditto similar sales, etc

lvader

I'd say ir's a good investment if you think inflation will go up significantly.