Tipping you're not going too far just yet. On the upside, surely shiney has upped camp and pissed off.
I swapped most of my gold for silver. I bought my gold at a time when $1800 was worth more than $1800 is worth now.
Well if aud to USD is .7034 right now, wouldn't it be gold spot in USD 1217 X 1.2966 =1577.96? Isn't gold in aud in the 1700 's
Check your calculations again If the AUD went down to 50c then our gold price would be double the US price would it not?
Have to agree... The timing of the spikes is interesting not sure what to make of it? Even with China open you don't normally see that timing. Perhaps someone is buying up after hours via Proxy....in which case they timed the London spike perfectly. How could they possibly know that was going to happen.
Ahh see that's where I messed up. I added the difference between 1 and .7034 which is where I got the 1.2966 cool I learned today!!
Let's see....1200 -> 1260 (increase of 5%) in about 21 hours. Yeh, I'd say that was a breakout...and I'd say that it was pretty big. The bottom is IN. The downtrend is DEAD. Gold bulls rejoice!!
Depends entirely if you believe the GSR (Gold-Silver Ratio) will "return to norm" There is no real compelling evidence that it will or must, just that people want to believe it. BTW, if it does, then silver has the better prospect. But as I posted in another thread, gold went up 20% since 1st Jan, silver went up only 15% (AUD)
I reckon short term Gold, but medium term Silver. Silver hasn't technically broken out of it's downtrend yet, but I don't think it is too far away. I don't really buy into the whole GSR thing though. It more that I see Silver lagging gold, but having a higher beta (volatility) so when it goes up (or down) it's move is more severe.
Well, following some gut compulsion I sold some gold and bought a little silver today (but with most of the proceeds going against debt..). No real analysis behind it, just seemed to happen. Guess I'll know soon if it was the right move
It's not something to trade on and doesn't really mean or prove anything but in that line of reasoning this has always made me feel a bit better about doing that: Silver goes up 300% and we've not even broken a non inflation adjusted price it's hit twice, inflation adjusted nowhere near. Gold goes up 300% and it's front page news around the world and you are probably buying canned food. Having said that, if the great debt experiment fails it will be gold that backs things and might go mad with silver bringing up the rear on a halo effect.
The Bears aren't going to go quietly. They'll pipe up again as soon as this breakout shows signs of pullback. It was a pretty big move that will need consolidation sooner or later.
As the saying goes "what goes up, must come down" ... As much as I'd love a continual increase to $1,800 AUD it be great though I can't foresee it right now, it isn't the ripest time.
The gold bears have been very quiet for a while now Cheer up lads, with post-Brexit volatility calming down a bit you might get a bit of a pullback in gold. Probably won't be for too long tho
