I know the USD gold price was up sharply on Friday, but it's still way off the $1300 mark it touched weeks back and the AUD is even stronger than it was back then so the gold price in AUD is not even back to $1700.... ....but today gold stocks in Australia are going berserk. Newcrest up 11% and just took out it's old high and it's not alone. Across the gold sector there are massive gains that can't just be justified by the gold price change. What else is going on? Are the speculators now jumping in since Yellens hawkish ramp has presented the last great buying opportunity?
Approaching 74c to the dollar again, maybe some Aussie traders are also factoring in a rate cut tomorrow now
Nothing out of the ordinary. Wait until the end of next week to see whether gold can hold its gains from Friday
Yep! Outside Australia too I think. I bought some BRI (Canada) gold mining stock last week and it jumped around 6% on last day of week. Hoping it keeps going when trading opens again tonight.
The contrarian in me says this afternoon at 3pm is the time to sell. Before the profit taking begins....? Market acting a little bit irrationally and obviously getting ahead of itself today. It's such a big move and while it might be explained by insiders expecting a rate cut tomorrow, I'm with Caput - I think a rate cut is no chance.
Another knee jerk reaction, a lot depends on Yellens speech tomorrow.Nice to see them jump but the real fireworks should begin once gold reaches $1300.I suspect another pull back will occur and that may be the last chance to get in cheap.Silver DJ, don't sweat on BGS, hoping it stays down to buy more myself ,,,it's coiling like a cobra, happy days ahead.
Pretty happy with that call. Picked the top down to the exact minute. Profit taking began at exactly 3pm and then a late rally began at exactly 3:30pm. Interesting times....
Bought into this pig in 2005. Would have been great to cash out in the forties. Reluctantly still holding.
Yep, I'm not bailing on BGS, I have a big chunk tied up in it ready for not just the pounce, but the long term ride.
Bingo! I bought some BRI stock last week at around $1.47 and they closed on weekend up at $1.57. Woke up today and found them up to $1.80 http://www.marketwatch.com/investing/stock/bri I bought this stock for the long term after watching this video. It's at the 8:15 mark [youtube]http://www.youtube.com/watch?v=5GcLGGJsRrw[/youtube] Caput said I missed the boat on this stock. I think not!
Great thread. I really like the way the stocks are ratcheting up. i think it is a strong indicator of the change in sentiment. Owners are holding, Buyers are chasing. It is a new feel. All that is needed now is the smart money, the big money to enter the fray. The early smart money came in late last year, and they will provide the corrective pullbacks as the profits are taken. BRI will double this year, imo as may Nevada. Hurry on parabolic.
Got the family into some newcrest, slr, bdr, evn and , gdx, gdxj pretty close to the bottom. All returns between 68% (gdx) and 220% (slr). If it weren't for brokerage and the fact that thry haven't been held for more than a year with cap gains is it'd certainly be profit taking time. In hindsight sub 15cent slr was a bargain, should have been more focused than scatter gun. But who knew back then, everyone talking about $900 gold and it wasn't my money... Still life is good. I'm pissed my money didn't come through in time to make identical trades to the ones I made for the family.
I think so too and probably more! In 5 to 10 years Katusa and others reckon BRI will be a minimum $15 stock. And that's based on if gold spot stays at around this price, but it won't, not in this debt filled/fueled fiat world! Gold is set to skyrocket just like silver.
Look at this one about BRI and gold. BRI is at 4:90 mark - [youtube]http://www.youtube.com/watch?v=pYEE4bro_l8[/youtube]
