I'd like to hear your opinions on whether or not you are buying in the current market. There are a few trains of thought on this topic and I think it would be great to hear everyone's 2c.
I've considered it but as I'm only recent to the PM scene, I'll think I'll sit by the sidelines until I've gotten a bit wiser to the workings of the markets.
This week i bought a few gold nuggets, i was going to buy a 1oz perth mint 2weeks ago for $1564 but thought gold would drop, last time i checked it costed $1864 .. and now its sold out.... 1oz perth mint oriana bar
My current "daughter in law" is considering selling her shares and buying gold. She asked my advice, it took me 5 days to reluctantly tell her that it would probably be a good idea. It's difficult advising people what to do, especially if they have faith in your judgement. Me? I'm waiting for the release of the PRC Year of the Dragon.
Very confused what to do at this point. If I sell, I lose financial position as gold goes up. If I don't sell, it might parabolic tank.
I've been hesitant to buy as well, but when I look at the charts gold has never really dropped off much at all and if it did it always recovered/surpassed where it was preciously.
I have the urge to buy, but i think the spike is just a huge panic. But really, i will probably give it a few days, see where it ends up.
Exactly what most members on this site have been thinking every month, every week, every day since they became PM stackers.
What do you guys think - Spontaneously buy and not worry about the current trends, or try to study and make an "informed decision" when purchasing PM in a market we really cant predict?
If Sinclair is right about 1764 being a battle ground on gold, we are probably near a short term top. However, I wouldn't wait for a $200-300 pull back before buying. I bought at 1660 on Friday and would happily do so again. You need to do whatever is necessary for you to sleep at night.
Are you able to stay "informed" spankos or are you only staying "informed" by reading what "they" want you to read? Who is informed? Name me one person on this forum who the majority would readily agree is informed. If the majority can find a concensus who is to say that they're not mis-informed? Most of us are opinionated - you know the old saying, "A little bit of knowledge goes a long way in helping to create ignorance". Actually, I made that up but, there is not one person here who knows for sure what is happening - if they do - they're telling fibs. None of the so-called experts are truly "informed", they all have theories. Some choose to share these theories for some altruistic purpose (me ), others do so for profit. Stay informed by reading as widely as you can, then make your own decision, but, try not to be spontaneous. But if you are spontaneous, don't regret it. Confused?
As one of the forum members stated "if you have some wait if you have none buy!" When gold is $2000 in the future (and we all know its not hard to imagine it getting there) you will wish you had the opportunity to buy at these prices.
It really depends if you think the problems will be solved over the next 2 years. We have both USA and Europe in a crisis which could last a decade. I think gold is due for a correction but it will remain above 1400 it seems for the next 2 years. I prefer to buy gold shares. Still undervalued compared to recent highs in gold and the profit margins if gold stays above 1400 is massive. We are talking about 800$ profit for each ounce produced. Then we have the upside of over 2k/ounce. Just stay away from goldies who are too far away from production.
