Buying Gold at these highs?

fishball said:
RetardedMonkey said:
$1600 is where my money is at for buying.
Click to expand...

Same... but I worry about Germany faltering and driving Gold to record highs instead of a dip to $1600...

Thankfully I won't be buying significant amounts anyway so meh.
Click to expand...
Yeah, at the end of the day I have lots of faith in gold.

Would be nice to make an extra $100 on the ounce I want though :P
 
fishball said:
Same... but I worry about Germany faltering and driving Gold to record highs instead of a dip to $1600...
Click to expand...


If Germany cracks, then say goodbye to the euro, EU and welcome to a world of pain.

They are a stronghold but i came across this article this morning, it might just be a storm in a tea cup at the moment http://www.forbes.com/sites/nathanvardi/2011/08/16/germany-cant-escape-the-european-debt-crisis/

As much as that might be positive for gold and silver, I cant begin to image the jobs that would be lost and lives ruined as a result.
 
Photonaware said:
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.
Click to expand...

How do you know the spot price should be US 1450? When stocks were going up was gold getting hammered? What would happen if another ratings agency downgraded US treasuries? No solid reason for global markets collapse? Are you kidding me, look at the combined debt of western nations and the fact that the US economy is build almost completely on debt financed consumption and are back in recession plus that even the "better" European countries like France and Germany are in a much worse situation than people realise. Stocks got hammered for a very solid reason, i dunno what tea your drinking but id stick to earl grey! lol
 
If the Aud falls badly (to 60-70c), then gold in AUD will leap.
Doesn't matter if golds falling in USD then.
 
Peter said:
If the Aud falls badly (to 60-70c), then gold in AUD will leap.
Doesn't matter if golds falling in USD then.
Click to expand...
That's my reason for buying gold now, rather than later. AUD tanked going into last GFC
 
its better to be slightly too early than too late. or easier to catch a falling object than a rocket taking off.

just buy when you have the money to buy, relax even if it drops some after you buy. in the long run it'll be in your favour that you bought.

even with a 100-200 drop the spread will mean it'll only be $130-$150 cheaper at best on a $200 drop. so just buy!

if you too afraid to buy for yourself, then buy some for me....thanks
 
RetardedMonkey said:
That's my reason for buying gold now, rather than later. AUD tanked going into last GFC
Click to expand...

actually that one of the best reason to buy right now. just look at the gold price late july to early august in Aus $$$. forgot the US price now, its going up in the short term anyway, near short term who knows butgold in Aus could take off at any point.
 
yup we just witnessed again what happens when markets get skittish, the aussie dollar lost 10c against the US because its just a risk play on commodities. climbing back now so if it does get near its high again and if gold does have a pullback it would be a great chance to buy
 
I bought gold at$900 an oz in february 2010 sold it in May 2010 for $1250 an oz and patted myself on the back for my great deal, used the fiat to buy silver at $540 kg so wasn't a total disaster, and now wish I had the gold and had just bought the silver with fiat. The only time the price you pay for PM s matters is the day you buy it. It may be worth less or more the next day but it doesn't matter because later on when the price rises you aren't on here saying I wish I had bought on the dip, last wk/ mth etc. If you have the money without impacting on necessities just buy the gold.
 
Savige Silver said:
I bought gold at$900 an oz in february 2010 sold it in May 2010 for $1250 an oz and patted myself on the back for my great deal, used the fiat to buy silver at $540 kg so wasn't a total disaster, and now wish I had the gold and had just bought the silver with fiat. The only time the price you pay for PM s matters is the day you buy it. It may be worth less or more the next day but it doesn't matter because later on when the price rises you aren't on here saying I wish I had bought on the dip, last wk/ mth etc. If you have the money without impacting on necessities just buy the gold.
Click to expand...

I think you've summed up the experiences many members here have lived through. Love the "patted myself on the back" - at least you invested in silver and not a jet ski.
 
We're heading for some kind of intermediate top imo.

Too much mainstream attention. It feels like silver did earlier in the year. Don't know how much longer this can go but I'm glad I'm already in and don't have to buy here tbh.

The higher it goes the more severe the correction will be.
 
I think PM's might just keep on going up for a while.
I think people realise now we are headed for recession and currency chaos.
And even if it does correct,it will go up past the price it corrected from ,afterwards.
 
Bullion Baron said:
hawkeye said:
We're heading for some kind of intermediate top imo.
Too much mainstream attention. It feels like silver did earlier in the year. Don't know how much longer this can go but I'm glad I'm already in and don't have to buy here tbh.
The higher it goes the more severe the correction will be.
Click to expand...
+1, could keep going higher for a while though, maybe top out at a round number like $2000 as Silver did $50...
Could easily see a $300-400+ drop following this move.
Click to expand...

agreed were due a correction, but as always buy regularly regardless of price, over time this averages out nicely
 
I just looked at yahoo. Was going to check my email when I noticed in the top 10 search items, Gold was #8.

From what the DJI is doing and other markets around the world, I think Gold has nowhere to go but up with people pulling out of stocks and putting them into Gold.

But you're right. A drop may soon occur...the 'golden' question is when?
 
thehuckler said:
I personally couldn't buy at these highs (amid the hype of this rally more accurately) but I would also argue, that for someone who owns no gold, any time is a good time to replace your paper with money.

:)
Click to expand...

Lol, I have been buying gold...
 
I don't'know how others feel but for some reason, I don't feel like gold will lose much of the value it has gained over the past couple of weeks.

It feels like $1700 is the new standard for gold now.

Please note, I am no whirling mathematician and I have no hard evidence, charts or data to support this suggestion in any way.

It is purely just an instinctual feeling.
 
thehuckler said:
thehuckler said:
I personally couldn't buy at these highs (amid the hype of this rally more accurately) but I would also argue, that for someone who owns no gold, any time is a good time to replace your paper with money.

:)
Click to expand...

Lol, I have been buying gold...
Click to expand...

I've been buying Gold...in the form of pandas...and fracs.

Despite saying I won't buy till 1600 :lol:
 
You must log in or register to reply here.
Back
Top