Gold hits $1600 USD and $2336 Aud

Discussion in 'General Precious Metals Discussion' started by sctpc, Jan 8, 2020.

  1. sctpc

    sctpc Active Member

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    So what is the new High going to be? $3000 Aud by February? Im so glad I went all in last year.
     
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  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    That would equate to over 2k USD spot. Idk if that's realistic, but we will hit new all time highs for sure.
     
  3. sctpc

    sctpc Active Member

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    Its based on Iran has now attacked Defended against the US, War is on the way,
     
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  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Still a chance for de escalation. Neither sides have attacked home soil just yet. Let's pray cooler heads prevail otherwise we can stop worrying about gold spot and start worrying about conscription
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    If this resolves peacefully, I expect a significant retracement below 1500 USD which will be a perfect dip to buy in. In the meantime though only God knows what level spot will find resistance at in this climate. Perhaps $1800 USD?

    Until gold is $100 a gram, I'll still be buying.
     
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  6. openeyes

    openeyes Well-Known Member Silver Stacker

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    I am sitting tight for now. I do expect a dip but if it doesn’t I am happy with what I have for now. If we get a dip them I will certainly top up substantially.
     
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  7. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    There goes $1600... A$2400 so close.
    Screen Shot 2020-02-18 at 5.21.19 pm.png Screen Shot 2020-02-18 at 5.23.21 pm.png
     
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  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    A close call. Ordered another batch at $1591 hours ago, had been procrastinating for days... Most expensive buy so far, even higher than I bought during the Iran crisis.
     
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  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Don't let fomo drive your purchasing. You are giving yourself anxiety over cov19 and the kilo bar sales. Just purchase what you can afford regularly.

    What's also more expensive now compared to Iran crisis or even refinery attack in Saudi is petrol. $1.69 AUD a litre at the bowser. I didn't know oil was also susceptible to viral infection.
     
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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Thanks. What you said is correct. I’m cost averaging so it evens out. Warren Buffett loaded some oil stocks Q4 2019. I think oil is another opportunity, but timing is important.

    I want to say that with Corona, the game has changed, cash is also just as important. One should have at least 12 months free cash, excluding gold.
     
    Last edited: Feb 19, 2020
  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Wow, left 22 pieces. I vaguely remembered seeing more than 150 pieces yesterday morning.


    upload_2020-2-19_13-37-50.jpeg
     
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  12. heartastack

    heartastack Well-Known Member Silver Stacker

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    I’m long uranium with any profits from gold/silver miners this qtr
     
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  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I've sold out of my ccj after holding it since 2012/2013. Lost about half I think?
     
  14. heartastack

    heartastack Well-Known Member Silver Stacker

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    Don’t know anything about CCJ, uranium? There are probably only a couple of stocks worth putting on a watch list now after years long bloodbath. Sprott owns a lot of shares in some and he was long but has announced that he’s selling shares to invest heavier in this golds bull. He’ll be back too. In the meanwhile the already crapped out stocks are getting beaten even further. If there is ever another uranium bull it’s going to be nuts. Tonnes of research required.. Best case scenario things get interesting end of this year, more likely next year, but quite possibly 2+
     
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Ccj is the biggest uranium miner in the world. I only manage to make an initial buy of couple K, no chance to even cost average as the price started falling sharply only a couple months after I bought and the sentiment was bad, practically no bullish calls at all. A small lost but just shows the importance of cost averaging.
     
  16. heartastack

    heartastack Well-Known Member Silver Stacker

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    Haha - oh yes, I only trade on asx so that ticker didn’t make sense.

    https://www.asx.com.au/asx/share-price-research/company/CCJ
     
  17. Silver260

    Silver260 Well-Known Member Silver Stacker

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    Yep, couldn't agree more.

    Firstly, I'm employed in the construction industry. And trust me, it's been a challenging 12 months. But ultimately a real eye opener.

    I've spent the last few months absorbing information from the F. I ( Financial Independence) and Minimalist movements. And its changed my entire outlook on life.

    I've gone from an average savings rate of 10% ( including PM's ) , to over 40% in a matter of months.

    And I've never been happier :). And I haven't even started off-loading unnecessary assets and debts.
     
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  18. alor

    alor Well-Known Member Silver Stacker

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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Yup, time to offload the debts and risky assets.

     
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  20. JulieW

    JulieW Well-Known Member Silver Stacker

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    Do you have any links that you've found informative?
     
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