I added a little to the horde today at $1664 USD / oz. Picked up: 1 - 1 oz Golden Maple 2 - 1/4 oz Golden American Eagle 2 - 1/10 oz Golden American Eagle In total, 1.7oz of the shiny stuff. Also, picked up 20 - 1 oz Kitco silver bars ($31.19 USD/oz) that had just come in. I was hoping to add more Silver, but this was all he had today so i used the rest on some Gold. I really do not want to see a correction as I don't think I could stomach it.
I didn't end up buying too much and still have some dry powder. Waiting and seeing for the moment. If we get down to below $1600 ill dip a bit more in. Being a little cautious atm, if things go real haywire after the new year it may pay to have some cash.
Same boat as you euphoria, got some cash stores at the moment which I am happy to sit on, but if gold breaks the $1600 barrier I'll be buying a bit more.
From Stephen Leeb (KWN today) "So how low gold will go here is literally meaningless. My advice to investors is don't try to catch a bottom and be a hero. It could happen anytime. It could be happening as we speak, it could be happening today. But it's really irrelevant. Let's say gold is at $3000, $4,000 or $5,000 in 3 or 4 years, which I think is very, very likely, are you really even going to remember that it went to $1,650 or $1,550? No."
Hi Ernster I am not sure what Stephen Leeb before said but your reference is to Art Laffer & Ben Stein, http://www.youtube.com/watch?v=2I0QN-FYkpw Leeb as does Peter Schiff (see below) are in agreement and both indicate that prices of PM in future years will move up and Leeb is saying that picking the exact bottom is not relevant. I am not sure what you are trying to tell me ? http://www.youtube.com/watch?feature=player_embedded&v=odjp48lzpgU
Im a buyer anywhere from 1500 - 1600, I am looking for Gold to touch 1550 in usd to complete the technical correction.
Gold is very close to touching the 200 DMA - this is probably the closest it's been for since Jan 09 when it last crossed through - it hasn't dipped below since.
Ann Barnhardt: Explaining Decoupling (and why chasing the dip will be a fools errand)... http://matrixsentry.wordpress.com/2011/12/16/ann-barnhardt-explaining-decoupling/
These kinds of ideas lead to people going all-in at $49 peaks due to believing that there will be nothing available at lower prices... It has simply not been the case thus far.
