I'm sitting here in Asia contemplating another gold bar purchase and I feel that something substantial is afoot with regards to PMs. I have no charts, no financial analysis and no previous history of predicting anything of financial benefit to anyone. But I feel compelled to post that if I am being allowed to continue to buy gold a AUD $49/gram when a (schooner of) beer in both Bangkok and Melbourne costs over $10 then something must be about to pop. Is anyone else out there feeling that this is the "buy" entry point or can this charade carry on for a good while yet. $49.17/gram....... amazing.
If I had more spare $$$ I'd be buying, but spent it all on stocks/ shares. There was a rush on last Friday before close of business......most gold stocks for no apparent reason....maybe an inclination of gold price moving upwards??? but who knows? Personally I think it will stay around the $1500 - 1550 AUD mark for a bit longer........people have moved from PM's to equities ....... the next one will be bonds if & when they hit 4%+ again.....people are looking for more return on their investment dollar so money will move around quite a bit, reason for the ASX moving upwards of late (good buying at the moment, lots of mining stocks have taken a battering and people buying for 1st initial buy or trying to level down the average buy in price like me). These are just my thoughts and observations, please DYOR
Some major news in Cyprus........I'm pulling the trigger on my pop gun......ignore the rest of my post...edited. we may see a low of 1400 - 1450 very soon, ie days or weeks. If I see that sort of price it will be hard to hold back From buying although perhaps the bottom is closer to $1200 in the next few months....nobody can really say for sure. I would like to think at some point in the next few years Gold to be at $3500+ As you know any investment carries risk, so weigh it up and do what's right for you. Good luck Ps, often your gut instint is right.....if your thinking buy...just maybe your right
I'll agree with you Browski. Like you, I have no charts, no real insight, but just my "gut feel". I figure that some people are calling for $1200/oz, if it goes there, I've spent $300/oz too much. If they're wrong, and it goes up from here, I got it right. Trigger finger is getting very itchy for me right now, and I have my powder ready to fire.
I thought this article made a good point against the gloomy sentiment: "However, why are we only looking at the dollar price? ... "Here in the UK, at the time of writing, gold is up 3.8% this year .... "If you're in Argentina, then you'd be feeling pretty relieved right now had you decided to invest in gold the ARS gold price hit new highs of late.... "Venezuela - they're also celebrating high gold prices thanks to the continuous devaluation of the currency. On the 8th February, President Hugo Chavez announced the devaluation of the bolivar from 4.30 bolivars to the dollar to 6.30 bolivars. The day this was announced the gold price shot up from 7,167 bolivar and reached 10,328 the following Monday ... "Japan is the world's fourth-largest economy, yet thanks to the new print-happy government we have seen a fall in the Yen against gold. Gold has risen from 117,000 yen in March 2012 to 154,000 ...." http://www.24hgold.com/english/news...0&redirect=false&contributor=Jan+Skoyles&mk=1
Great point. However $49.17/gram is the aussie dollar price; I never really look at the price of gold in US dollars (or any other currency)
But in those countries it's not a case of gold owners gaining, it's just that those holding cash have lost some of their purchasing power while gold owners have held their purchasing power. Kind of like celebrating because some other guy got robbed, just because it wasn't you.
Agreed although at least gold did its job for those that are holding it. Its only a matter of time ( and not long ) and we will see the same happen to the UK pound and USD. That rehypothication has really got way out of control. If the markets were not manipulated gold would be at $2500+ right now. So how long will they keep this up.......as long as they can. Then comes the reversal and Gold goes to the moon.....at least that's the way I would like it to go
