Hands up.

Discussion in 'Gold' started by Slimey, Aug 19, 2019.

  1. Ian Gillman

    Ian Gillman Active Member

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    You mean you read the poultry? How hentertaining, eggselent advice, better than fowling up. Be brave, not chicken :)
     
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  2. mrsilverservice

    mrsilverservice Well-Known Member

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    This thread shouldn't be called "hands up" it should be called - Golds Up (and up) :D

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    The Book of Psalms Chapter 92 verse 13

    Those who are planted in the house of the Lord shall flourish in the courts of our God :)
     
  3. alor

    alor Well-Known Member Silver Stacker

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    [​IMG]
     
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Yes, view them with a pinch of salt but sadly paper gold can be manipulated in the short term, Traders make money both ways, up and down. Just like how they hammered down gold in July-Sept last year, completely illogical but gave us newbies an opportunity to scoop it cheaply. What is important is to maintain calm when the hammering comes (Be it now or closer to $1600) and scoop some more. This is what my post is about.
     
  5. Ag bullet

    Ag bullet Well-Known Member

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    Goes to show how the value of the $ has dropped over time....cough cough, I mean the value of gold has gone up over time.


    (Actually I really do mean the 1st part)
     
  6. aelmsu

    aelmsu Member

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    That paints a nice picture but it's not a nice straight line. You'd be having a bad time if you bought in at $1900/oz in 2011-2012 for example...
    The opportunity cost of holding gold can be high.
     
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  7. leo25

    leo25 Well-Known Member Silver Stacker

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    Yes and central banks are about to destroy more value in paper currencies.
     
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  8. leo25

    leo25 Well-Known Member Silver Stacker

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    Yes, that's why it's better to buy before it rises a lot.

    The opportunity of holding property can be even more expensive.
     
  9. mrsilverservice

    mrsilverservice Well-Known Member

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    Especially if it cracks and crumbles and falls down :confused:

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    The Book of Psalms Chapter 96 verse 4

    For the Lord is great and greatly to be praised,He is to be feared above all gods :)
     
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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I'm a lousy trader. How I overcome this is by averaging my buys and also my sells (for other investments).

    I bought my first gold at $1320 in May last year. If you look back at some of the news and commentaries in Apr/May last year, there's a lot of bullishness in gold and especially silver, it's similar to what we are seeing since June, although at a smaller scale.

    But despite the bullishness, silver collapsed with gold and end below $1200 by August. Not encouraging. After I got over with the disappointment, in Oct, I bought gold again at around $1230, averaging down my cost. I remembered around that time, Harry Dent and Jim Rogers were saying gold will fall below $1000. Of course, we now know that gold can never fall below $1000. The big boys, central banks, billionaires, etc, will come in scooping up all that cheap gold. Not to say gold won't fall back to $1100 or $1200 though,.

    Then I bought some again in Dec-Jan for around $1280. My last buy was at $1425 a month ago. I'll be pausing for a while even if it goes up to $1600 because a pullback is a matter of time - which most people agree.

    If there's a pullback, this time round, I might be looking at GDX?
     
    Last edited: Aug 21, 2019
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  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Cost averaging through the ups and downs is the only way to ensure you don't miss out entirely on any gains in the price of gold.
     
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  12. SilverNGold

    SilverNGold New Member

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    Hi, I try to trade gold etf to use the gains to offset the price I pay for the physical...
     
  13. SilverNGold

    SilverNGold New Member

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    Hi, I try to trade gold etf to use the gains to offset the price I pay for the physical...
     
  14. SilverNGold

    SilverNGold New Member

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    And, ometimes when I become careless and put in a buy twice!! Like my comments.
     
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  15. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Good method as long as you make distinction n between physical gold and paper etf.
     
  16. SilverNGold

    SilverNGold New Member

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    Yes. I guess one can be looked at as income activity and the other is longer term savings.
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Still valid?
     
  18. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Put a buy order in @ 1440 USD & then Another @ 1400 USD. I'm guessing you will get a tap at both.
     
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  19. Drongo

    Drongo New Member

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    I prefer entrails myself, for accuracy
     
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  20. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Looking at the price movements, not sure if it will even get to 1450 USD.

    Pt is surprising strong. The only day where the price is higher is the 4th September. In order words, it's near recent highs except 4th Sept. Very strong buying going on.
     

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