Spot dropping to below $30AUD has really spooked a lot of people I think. Not much selling, or buying going on........ It is very quiet on the front
... real quiet, for sure. Some very good buys around! I have been buying on this current "$29.95 get-it-while-it's-cheap" deal. Not a seller though, long term stacking is the current play, so pricing right now looks good. If I could sell a property we have on the market more quickly, then I too would have more fun tickets to buy bling with ... I'm not convinced our high dollar will last either, so personally I'm taking this as a double-whammy time to buy. If you'd bought gold in 2001 in US$ and sold today in US$, you'd be valued at 600% of purchase price, but in AU$ terms only 335% or so. (Whatever "valued at" means - ie one has to take into account purchasing-power. The property I bought in 2001 that is on the market now, is valued at 270% of purchase price; petrol is now 233% since 2001 ... ). The AU$ in 2001 was 48-50 USc ... who know maybe PM holding is a nice currency hedge right now (if you think the US$ won't get revalued or lose its global reserve currency status; and/or the AU$ will slide from pressure by the non-resources sector on the reserve rates; and maybe even China start buying iron ore cheaper elsewhere?) OK now I'm rambling ... it's soo quiet ...
Was at the PM Tuesday. Quiet as Pharaoh's Tomb. Staff outnumber customers 2/3 to 1. I have been a regular at the PM for years and I have never seen it so quiet. I think this is telling us something. If people thought things were going to crash they would be liquidating their PM positions. In fact very few are selling or buying - a bit spooky ? Most of the customers were selling jewelery - usual trade nowadays at the PM. Few were buying or selling bullion. It is like the eye of the hurricane and I see a storm coming !!!
Totally agree. Also out of cash since my last few purchases. Accuring a nice position I didn't think I'd achieve, so that's kept me happy.
I want to add to my stack but I'm broke for the next little while I'm just gonna play the waiting game for now.
Broke... "BTFD" they said, "You'll retire on the waterfront" they said... I'd rather have invested in iCrapple
Well if the Perth Mint is quiet imagine how quiet the GoldBuyers booths in the shopping centres are. I will check my bank account and if it looks happy enough I might just get that kilo dragon I have been promising myself. And a few 10oz dragons, might as well save on postage.
Agree! I'm raking together what I can when I can. AUD will plunge end of May imho. Add about 10 percent to PM prices unfortunately. This today from King World News interview \http://kingworldnews.com
I'm expecting a big return this year... just my luck it will slink along till mid June and then rocket after that
Everyone running out of money for further purchases is also part of the reason for the current collapse so instead of constantly blaming the so-called "manipulators" lets take a long hard look at ourselves and put the blame where it should rightly be.
Hi Ouch - I am blaming the "manipulators" for this lull in the market. We do not have free markets and the fed and all other reserve banks are constantly interfering in the markets. Most of us on SS think that these central banks are there to support their own agenda and certainly are not there to help the population. Keeping interest rates at record lows year after year depletes our savings and that is one reason there is little liquidity. Every time the Fed makes a call they are wrong and we bare the consequences. It is like the politicians who make terrible decisions, impoverish their society and then go off to retire on a great pension. Cheers
Well I'm swimming upstream.A few days ago the price of johnson-matthey bars were just under $32 an ounce at goldmart in the states and I couldnt restrain myself.So bought I did. I'll be okay though.First of the month,another check comes so if the prices stay where they are a roll or two will be in my future. Silvers been trading in a sideways motion for awhile.So it can move in either direction.I just dont buy too much at one time for now.
