Whats your thoughts on the matter at hand here? do you see gold continuing its uptrend or making a (bigger) retracement?
I'm going with my usual line :lol: How about picking Saturday's lotto numbers instead of trying to figure out what the price is going to be tomorrow
If you want the price to retrace to $1400, so that you can buy it cheap, it won't happen. However, as Spannermonkey stated, who knows what is actually going to happen. My $0.02, is that it will start to appreciate in price globally, then when the A$ devalues, it will adjust appreciably in A$.
Let's say production costs for gold is around $800 and up to $1200 per ounce - and with inflation the production costs aren't going down. If price drops to $1400, some of these mines would look at scaling back production or even close entirely limiting supply. I still think the demand out of asia is too high to support a price of $1400, perhaps $1500 which is nearly there at the moment leads me to think the bottom is already in for gold. But then again, anything can happen to the paper price of gold. I'll take one of those lotto tickets too thanks
We're at a peculiar point where the commodities are being held down and the resource hungry AUD is going up. So whilst you may see sub 1400 AUD it will be momentary imho and purely because the USD is diving from its overbought state . Meanwhile in other news, the Bundesbank has told Mario Draghi to shut his mouth and Finland has said fantasies expressed by central politicians have nothing to do with Finnish plans for their own money, (or words to that effect).
Metalsmtl thread has been good, he's just stated that the Fed is sitting on it;s hands at present but, there's a big pow wow happening in Europe today..... Gold has also just dropped backed to 1685 @4am AEST so it may be a 'another' smackdown.... I'm deciding wether to put my left over cash into 1oz bars during this last dip and just take them to a dealer for cash exchange when required as Hiho suggested somewhere the other day?
I wouldn't surprised if it goes to $1400. I see more possibility of price dropping than rising. They won't print for no good reason, so once something bad happens and the markets sh8t themselves (with everything, incl. PM's dropping).. then they will do QE or some other thing. It's a total guess, but no QE until after the election, also turn the screws even more harder on Iran which will affect oil & gold prices. EDIT: I hear some talk of interest rates rising around 2015, will this have a negative affect on gold? I hear some permabulls saying it would be good for gold, but they offer no explanation as to why they say that. I thought rising rates would be bad for gold, the only 'positive' for it, would be the fact that government debts would be harder to pay off with higher interest rate?? therefore increasing the possibility of more printing to help pay off the higher repayments, particularly if economy is still stalled.. Not too sure
I've learnt sooo much in the last twelve months since my first purchases @1720..... There are so many variables and things going on and so much manipulation it's very hard to know exactly what's happening...but... If we read between the lines and keep on top of whats going on and stick to the fundamentals of pm's we will eventually make it thruogh all horrible stuff going on.... I just bought some un-allocated @1559 woohoo!
Why buy unallocated at 1559 when Bullion Money have physical (Perth Mint 1oz Certicards) for 1567 ?? Much prefer a (golden) bird in the hand .. than 1.0051 in the bush (unallocated).
What we are looking at is AUD going from 97usd to 105 usd in 4 months,as well. 8.2% Thus we get 8% more gold for the Aussi dollar ,than otherwise.(it's cheaper). Good time to buy. But with continuing Economic collapse,this must eventually reverse. Hands up , those who think good times are ahead.
I was thinking of heading into more gold at the moment to balance out my stack. Everyone talks of buying silver because the GSR tells them too, but you can't deny the awesomeness of golds wealth preserving power.
This GSR thing is good in average times. But its possible that in a collapse, gold will take off (think backing currencies) and silver will be left way behind.
Looking at the last 20-30 years or so, I think the GSR is actually quite average. Been up to almost 100 at one stage I think?
If we see $1400 AUD/oz. As You know every pull back is a gift and i will be buying with both hands. I will probably go all in. I put currency where my mouth is. This is the greatest opportunity in the history of mankind. No. Hang On. The most important of all It is a tradition.
Depends on the real rate. Interest rates rose a lot in the late seventies even as gold went up. http://www.newyorkfed.org/markets/statistics/dlyrates/fedrate.html
