Buying Gold at these highs?
- Thread starter CEO10K
- Start date
With both Gold and Silver I tend to keep an eye on the moving averages. If it moves much above the 30 day, it's probably going to correct. If it moves below the 200 day, it's probably a bargain. 
nonrecourse
Well-Known Member
In 2009 and 2010 I bought gold as a hedge against my property investments. This year I diversified by buying some silver as a hedge against those same property investments. Later this year and for the forseeable future I will be buying gold and silver to hedge my property investments:lol:
Looking in my crystal ball the big international trading banks lost 70% of their capital during the GFC. That being the case common sense would suggest those banks having taken such a big bite are going to be chewing for a long time.
Since early 2007 when collateralised debt obligations first came to my notice on the internet, I have been a property bear that wants no more than 30% skin (debt to equity in property) in the mix. To this little duck; bullion was the currency of choice over the centuries and will yet again have its time on centre stage. Will that occur in my life time... not sure.
Do you buy gold and silver now ? Only your own personal situation can guide you.
Kind Regards
nonrecourse
Looking in my crystal ball the big international trading banks lost 70% of their capital during the GFC. That being the case common sense would suggest those banks having taken such a big bite are going to be chewing for a long time.
Since early 2007 when collateralised debt obligations first came to my notice on the internet, I have been a property bear that wants no more than 30% skin (debt to equity in property) in the mix. To this little duck; bullion was the currency of choice over the centuries and will yet again have its time on centre stage. Will that occur in my life time... not sure.
Do you buy gold and silver now ? Only your own personal situation can guide you.
Kind Regards
nonrecourse
Also - If the price of gold were to correct by $100 - $200 per oz ( not that im expecting such a big drop ) but if it were to drop to $1550, than the premium on gold coins going forward would DEFINITELY be a little bit higher than what these premiums were a week or 2 ago when spot in AUD was around $1550.
Silver has shown that when it corrected at start of May
Silver has shown that when it corrected at start of May
Nub Cannon
New Member
Im waiting for the CME to raise margins before for I get more Au
Sik Bizkit
New Member
Fiat is riskier! Look at it this way - Gold is not going up in value, your dollars are loosing value...and the FED isn't stopping the printing press any time soon!
When the US treasury bonds bubble bursts gold will go through the roof! look what just one rating agency downgrade did to the price of gold and the stock market and people actually bought moreUS bonds! hahaha... so IMO its definitely going up but ofcourse there will be corrections along the way, aka good buying opportunities
Photonaware
Active Member
I'm not buying gold especially after checking the price chart over the past 12 months.
There is a definite big spike from mid July so the spot price should be around USD 1450 not USD 1750.
As stock markets have taken a big dip it's forced up the price of gold through panic buying.
However there is no solid business reason for the recent collapase of the global markets so my tea leaves reckon there will be a reversal in the next couple of months.
There is a definite big spike from mid July so the spot price should be around USD 1450 not USD 1750.
As stock markets have taken a big dip it's forced up the price of gold through panic buying.
However there is no solid business reason for the recent collapase of the global markets so my tea leaves reckon there will be a reversal in the next couple of months.
I 'want' to buy Gold, but also think there's going to be a dip in the spot price (to the tune of $100-$200) - so I am holding out for the time being, going to give it another week or two.
Damn... buying some gold tmrw, typically the price heads up today
Nub Cannon
New Member
LovingtheSilver said:Damn... buying some gold tmrw, typically the price heads up today
It happens to the best of us, on the bright side it might continue to go up after tomorrow
$1600 is where my money is at for buying.