Just a wee tinker for all you gold bulls. Bullish pennant on the weekly that will make you feel good about your stack! Now, what will be the trigger to spark its next leg up?
Gold Just Hit AU$2,000
- Thread starter GoldenEye
- Start date
As someone who is mostly cash and bonds, the economic situation today is nothing like 2016. What am I going to buy today? Apple stock? Tesla? Uber stock? Bitcoin? Oil stocks? Eurobonds?
HK is the leading indicator, first to blow up, other countries will follow.
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Buying gold in late December 2016 wasn’t so bad although you would have to get out again. Of course there were other thing’s providing better returns. Depends on your objectives. Then and today.
Excuse my ignorance, but what was that chart setup like? I was oblivious to PM’s until just last year, if you’re inferring a potential downtrend then let me grab my keys so I can back the truck up...
Slimey
Well-Known Member
Well If you look at the chart at the low of late 2015, the chart does a leaning lamppost followed by a double doggie do-nothing until May. The fake-out lamppost which followed made it abundantly clear that the pennant forming would be a half-master and what do you know..a reverse zorro formed, just as predicted. Eeeeeeaaasy.
mrsilverservice
Well-Known Member
Market Closed - $2,126.04
AUD - $069.00
Golds performance over the last 3 months reminds me that Gold is "only" insurance although probably the best hand held insurance other than knowledge
The Book of Proverbs Chapter 16 verse 16 (part A)
How much better to get wisdom than Gold
AUD - $069.00
Golds performance over the last 3 months reminds me that Gold is "only" insurance although probably the best hand held insurance other than knowledge
The Book of Proverbs Chapter 16 verse 16 (part A)
How much better to get wisdom than Gold
JOHNLGALT
Well-Known Member
History of Gold Controls in Australia.
PRESS RELEASE No 29
EMGARBO 6.00pm
STATEMENT BY THE TREASURER, THE HON PHILLIP LYNCH, M.P.
PRIVATE OWNERSHIP AND SALE OF GOLD BY AUSTRALIAN RESIDENTS
SUSPENSION OF PART IV OF THE BANKING ACT
The Treasurer, Mr Phillip Lynch, said today that Commonwealth restrictions on the freedom of Australian residents to own, buy and sell gold in Australia had been removed.
He added that current restrictions on the purchase of gold coins had also been removed.
You would be aware of this 1976 release @bron.suchecki I presume.
https://www.perthmint.com/info-historycontrols.aspx
PRESS RELEASE No 29
EMGARBO 6.00pm
STATEMENT BY THE TREASURER, THE HON PHILLIP LYNCH, M.P.
PRIVATE OWNERSHIP AND SALE OF GOLD BY AUSTRALIAN RESIDENTS
SUSPENSION OF PART IV OF THE BANKING ACT
The Treasurer, Mr Phillip Lynch, said today that Commonwealth restrictions on the freedom of Australian residents to own, buy and sell gold in Australia had been removed.
He added that current restrictions on the purchase of gold coins had also been removed.
You would be aware of this 1976 release @bron.suchecki I presume.
https://www.perthmint.com/info-historycontrols.aspx
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Still too early to know for sure how it will pan out. I've been watching on this pattern, and is the reason why I didn't backup the truck. Some differences from 2016. In 2016, the Fed stopped QE and started QT and rising interest rates. Today, there is Repo Madness and trade war and falling rates. The fundamentals are not the same.
Looking back, I think the forum is too pessimistic on not just silver and platinum, but also gold surprisingly.
Too many broken hearted individuals who miss out on returns. Too many gamblers looking to get rich quick. Too many who don't understand the purpose of stacking precious metals.
I dont know why anyone should be pessimistic. Gold has outperformed everything this last year. Theres been plenty money to make if you wanted to sell as investment gold.
I can understand pessimism in the fake bubble markets but not in gold.
I can understand pessimism in the fake bubble markets but not in gold.
Me too when I started buying gold and silver in 2000s, found it moved too slowly after a year and gave up, started to play stocks. The trouble is precious metals is not for returns. Trying to earn from pm to pay a mortgage is a dead end.
I think we reached the dead end for the property bubble in China. Don't know about Australia. In Singapore, the market is highly controlled to begin with, so even if it falls, it won't be severe - like 20%-25%. But HK, price can fall 70% like it did in 1997. In China, a lot of real estate will become worthless - it happened in Malaysia and Indonesia when projects are half-built and never completed. The trouble is the house buyer still owes the bank for the full sum.
That's me.
Got sick of waiting for the holy grail move in silver that may or may not eventuate - considered that too much of a gamble. Silver has given me miserable returns over the last 8 years, so it was time to call a bad decision exactly what it was. I offloaded all my silver holdings in October, and it was substantial.
Put the cash into a particular stock in November, and I'm up 70% in 2 months. (One member here who I bounce around trading ideas with can vouch for the stock call and trade).
Silver was too much of an opportunity loss for me.
Kept my gold though.
Man, if youre already up 70% I would call it quits and cash out. Especially given were early in to 2020 and it already looks like gulf war electric boogaloo 3.0 is heating up. Im not a gambling man so no stocks or silver for me, just gold whenever i have the spare change. If i get a couple ounces of silver at spot every now and then i buy it but consider it the same as buying a lottery ticket. My original stack of 150oz of 1966 50c rounds got sold when we hit $27 AUD an ounce and converted to gold because silver was just too volatile for me.That's me.
Got sick of waiting for the holy grail move in silver that may or may not eventuate - considered that too much of a gamble. Silver has given me miserable returns over the last 8 years, so it was time to call a bad decision exactly what it was. I offloaded all my silver holdings in October, and it was substantial.
Put the cash into a particular stock in November, and I'm up 70% in 2 months. (One member here who I bounce around trading ideas with can vouch for the stock call and trade).
Silver was too much of an opportunity loss for me.
Kept my gold though.