Discussion in 'Gold' started by Slimey, Aug 19, 2019.
Double top is in. It's overbought. 1400 USD will be the spingboard. Just my guess.
More than a month has passed, the correction doesn’t seem to be happening or has it already happened? Silver is surprisingly strong.
Have I missed the boat again?
Fear of rising silver is recently on the rise again if you look at some of the recent postings.
I am holding off until December before I take another plunge. The reality is that, investment wise, I am a total freakin' loser so it really isn't going to matter when I do invest......because prices will drop shortly after.
There seem to be two underlying principles:
1. I just bought an ounce or two: Spot price undoubtedly falls within the hour
2. I've been holding off buying and have money set aside to order: Spot skyrockets before Bullion Now opens
I let all my mates know what situation I'm in so they can profit from how these principles drive the market.
I haven’t bought any gold since last buy at $1425. Still looking to buy silver but the secondary market for small bars, the tiny market in Singapore, has totally dried up since the beginning of August. Dealer premiums are like 6% minimum. In other words, the boat has left for me as both premium and spot has risen.
I visit Singapore quite a bit. I always liked the coin shop at the lowest level of Lucky Plaza but it shut quite a few years ago. There is a coin dealer in the Golden Landmark (well there was 2 years ago) but I went through his books and found no bargain coins. Apart from that, I sometimes check out what is for offer at some of the Pasar Malam but I am yet to find a bargain. The best I did was pick up about $3 worth of Aussie coin for $2.50 Sing Dollar. Hey it is still a profit.
I went into a coin shop at lucky plaza just a year ago and it was like a meeting place for friends in their 60s or 70s. There's appears to be a fairly large coin and notes collection community over here collecting south east asian old coins/notes and Chinese panda coins. Older folks collect silver coins for fun, but I don't think they view them as serious investments.
By the way, the lucky plaza coin shop I went to is at the extreme corner of building closest to a coffeeshop selling cheap hawker food, furthest from the Orchard MRT station.
That is good news, I will be in Singapore in a few months so I will have a look for that shop. You are right about the old coin shops being a meeting place for old ( as in age ) friends. Like the Kopitiam without drinks.
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