Very hearty precious metals increases this morning, seems like grexit may have actually sunk in, regardless its not often that gold / silver go up this time of the day.. would have to cast my mind back years to see this tbh.. Up $25 AUD - should take out 1200 US$ which is just par for where gold is hopefully going to end up today Nice
More so about Gold Stocks.. gold and silver itself.. meh $20 up on physical wont excite me, think Gold Stocks on the ASX have likely bottomed out.. that's the hope anyway.
You getting to excited i feel. Sure it may be going up in AUD because the USD is going to be the safe haven during this Greek drama. I do not often make genuine predictions but i will here, if i am right then gold will still remain in the same USD zone it has for the last year and it will be the USD that soars. This is way way different to the GFC, the USD is THE KING OF THE WORLD and gold is just a metal that people like to buy and have. This is NOT the event that will send gold to new heights, it could even be the thing that brings it crashing down. I like gold just as much as the next stacker, but it has not made it's bottom yet and that bottom is sub $1020USD
How on earth can you take out a nations banking system and closed them for 7 STRAIGHT DAYS? I mean a limit of 60 euros per day for ATM withdrawals for every greek person is nothing. People will start draining super market shelves in no time. Now Macedonia has implement it's own ATM controls in fear of contagion. So what's stopping this spreading across Europe, Asia and then Australia?
you really think this is a gold BOOM? lets not get to excited. everybody is expecting it to have a big very soon even i still think gold is going to get a then a small before it makes its steady but long term
ASX Mining index down 1.3%, All ordinaries down 1.8 - 2%. Falling but not as hard as most other sectors and its only lunchtime... in 4hrs the numbers could be way different, up or down. Theres a lot going on apart from Greece. Shanghai index opened plus 2%, now its down 2.5% putting it into bear market territory. This affects ASX companies, particularly miners, way more than Euro issues. Word of the day is Volativity.
The small BOOM has disappeared from this morning. It may rise later on or fall or sideways but certainly it has had zero immediate effect.
It Boomed.. with no follow through.. lacklustre.. still i live in hope.. never get too excited.. not like the good ole days 5y/o christmas eve style... still keeps my involved in current events and away from "pop culture" mind rot RE: Gold Stocks - yeah a couple of mine up, a couple unchanged, a couple down.. Gold Price wont always effect stocks so does make sense especially the speccy plays
Wait until the European markets open in a few hours. When all the retail investors can get a hold of their brokers and want some gold and silver exposure. I'm sure the USD will get a bump but I'd expect the pound and swiss franc to do even better. I've bought some silver on CFD abc the position is down about $50 but I'm expecting a reversal when the Europeans get to work out their anxiety on the markets.
I expected this yesterday evening, when I posted about the bank holiday: http://forums.silverstackers.com/topic-65328-bank-holiday-in-greece-of-course-page-1.html
Gold price in USD: Gold price in EUR: Spiked in EUR, but the dollar still remains rather low. Yes, the USD is also a 'safe haven' in this situation.
