For those people who buy gold to hold for atleast a year or two, are you buying now? or waiting for it to go back to 1500, or do you think gold will continue to rise and not see the 115-1600 price ever again? I dont understand why people would buy gold now if they are not planning to sell in a few months because these prices seem to be rising too fast
I won't be adding more to my stack until the gold price takes a hit, and it will soon. When JPM and GS go around making big calls about "$2500 gold", it's time to get defensive, cos an ambush is imminent. That's what I'm waiting for.
Picking the bottom of a market is luck not skill and while most agree that gold will came back a bit there is no guarantee we will see $1600 or 1500 again. The Fed meeting this month may start QE3, there may be another dive in the highly unstable markets. The best advice from Marc Faber is to accumulate slowly and let the trend be your friend. Over years it makes no difference. I don't care if I paid $650 or $750 in 2007 ? How much difference does that make now ?
I am on the record as having stated that I believe that AU will be A$1900 by years end. And I believe that it will be. We shall see.
Sometimes I feel like a platypus...no matter which way I look there's an enormous bill in front of me!