Gold at ATH.....what do your tea leaves say?

The tea leaves have spoken, the price of gold (currently $3825/oz $AUD) is:

  • In bubble territory - a correction is imminent, but buying the dip is a good idea.

    Votes: 1 6.3%

  • Overvalued - its time to start selling and continue doing so. Bear market on the horizon.

    Votes: 0 0.0%

  • Plateauing - minimal movement expected from here on.

    Votes: 3 18.8%

  • Undervalued - This is a great buying opportunity.

    Votes: 5 31.3%

  • I dont drink tea.

    Votes: 7 43.8%
  • Total voters
    16
  • Poll closed .
Dealers have to replace their stock at the current market value, private sellers who bought years ago and aren't looking to keep inventory can sell below spot and still make plenty of profit.

Spot is high and I hate paying it but premiums are negative and items that were previously too much trouble to bother trying to sell are now worth the effort. I collect mostly world junk silver rather than new gov issue coins.

I have bought more silver and gold in the past few months than I did over the whole of last year.

I heard (from U.S.A. YouTube) that dealers were getting so much buy-back that they are sending it straight to refiners rather than trying to resell it and some places are offering junk silver at spot just to shift it. Shop owners getting junk silver coins from distributors below spot and just offering it cheap to keep sales up. I haven't seen anything like that here in Australia. But private sellers have helped me build my stack and I am seeing a great variety of coins as old coin collections become valuable for their silver content.
 
JohnnyBravo300 said:
Gold and silver both are still solidly in the same upward channel as they have been so no reason to believe it won't continue for now.
With plenty of ups and downs of course.
Click to expand...

And given the market volatility to the downside currently underway, the fact that both gold and silver are holding ground is impressive. In aussie dollar terms, gold is only 2% from ATH. Meanwhile S&P approaching correction territory :confused:
 
mybullion.com.au said:
And given the market volatility to the downside currently underway, the fact that both gold and silver are holding ground is impressive. In aussie dollar terms, gold is only 2% from ATH. Meanwhile S&P approaching correction territory :confused:
Click to expand...

Looks like gold could drop below $2800 and silver could drop to around $30.50 before any real concern of dropping further down.
They could always bounce right back up too which would be my guess.
Just a guess tho.
 
JohnnyBravo300 said:
Looks like gold could drop below $2800 and silver could drop to around $30.50 before any real concern of dropping further down.
They could always bounce right back up too which would be my guess.
Just a guess tho.
Click to expand...
Buying opportunities for long term, last few years been good for some extra fiat needed to sell lil bits too :) we got time for both
 
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