Gold pops on FOMC, will drop later

Mi$$ Honey said:
Hi Everyone,

It's been a couple of years since I posted ... I have started to seriously consider adding some more physical gold to my personal stack and I would be grateful for some advice.

Yesterday, I rang Perth Mint and was quoted $1771.05 plus $17.50 postage and today it appears to be $1752 (1oz bar).

Today, I happened to read something online about the sudden overnight drop in the gold price. Some kind of sell off?

According to the PM website the current px is $US1331.10...so...

*QUESTION* - Should I go ahead with my plan of buying 1 oz every week or so (for as long as I can)?

OR is the $1331.10 a break suggesting a //REVERSAL// in the recent bull market run up?

In March 2016 there was the GOLDEN CROSS - in one of the Ainslie newsletters it was suggested that this set the scene for the next bull market.

Many thanks... :)
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Hi, I like your username! :)
 
Mi$$ Honey said:
Hi Everyone,

It's been a couple of years since I posted ... I have started to seriously consider adding some more physical gold to my personal stack and I would be grateful for some advice.

Yesterday, I rang Perth Mint and was quoted $1771.05 plus $17.50 postage and today it appears to be $1752 (1oz bar).

Today, I happened to read something online about the sudden overnight drop in the gold price. Some kind of sell off?

According to the PM website the current px is $US1331.10...so...

*QUESTION* - Should I go ahead with my plan of buying 1 oz every week or so (for as long as I can)?

OR is the $1331.10 a break suggesting a //REVERSAL// in the recent bull market run up?

In March 2016 there was the GOLDEN CROSS - in one of the Ainslie newsletters it was suggested that this set the scene for the next bull market.

Many thanks... :)
Click to expand...

Its a double edged sword... you need to look at currency fluctuations.

Best bet is for Trump to win - gold to go higher on uncertainty and Aussie dollar to drop to 65c which will give gold a nice bump. But Hillary win could drop gold could drop and Aussie dollar stay or go slightly higher.
 
Mi$$ Honey said:
Any thoughts on that sudden drop in gold px?
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Just my thoughts, hopes of Trump winning being dashed.... and people who are long on gold selling out.
 
Mi$$ Honey said:
Thanks :/... I just tried to change it but, alas, I'm stuck with it !
I would prefer Atomic79 ...
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Mi$$ Honey is better imo.

You like my username? Good for bull market :D
 
So emotional. Divers plunge - markets rise and fall
Unless you're on King world news where markets launch etc etc

If markets plunge it would mean the the stock exchange itself would be falling out of the sky. Or for gold to plunge it would have been tossed from the empire state. Plunge means to lose altitude not a reduce in currency value.
 
It seems that for the long term until this year end, Gold will be bearish or becoming cheaper:

Stc4olZ.png


What do you people reckon ?
 
Nugget_Hunter said:
Is that right ??

How do you figure that ?

Oh, of course ... the planets have lined up ? Yes ?

Funny ... I see gold no lower in $US terms than last week, or last month ( plus or minus a few $ here and there )
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Nugget Hunter,
If you have some better explanation, I'm all ears mate :o
 
That sudden drop in gold px on 27/9 was related to an election debate.

Gold at US$1325 seems stable again. I don't want to see it below $1325.
 
THATS LIKE WAITING FOR RUMP STEAK TO GO ON SPECIAL(STILL CANT BUY IT IF THE PIGGY BANK IS EMPTY(HOW MUCH POCKET MONEY DOES MOMMY GIVE YOU LOL)
leon1998 said:
Turned out DB news was a fluke; gold price resumes dropping.

As I am writing, GLD is at 125.55 ;P
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THANK GOD YOUR USING A KEYBOARD LEON ,PENCILS COST A FORTUNE(ITS THE PM LED CONTENT LOL) MAYBE BY SOME CHALK ? THAT WAY YOU CAN JUST USE A DUSTER TO CLEAR YOU F/UPS....ITS GETTING BORING (TAKE UP PING PONG AS PM,S AINT FOR YOU
leon1998 said:
Turned out DB news was a fluke; gold price resumes dropping.

As I am writing, GLD is at 125.55 ;P
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My system has showed a stunning signal:

Gold price might drop below 1,300 usd/oz on next Monday.

Well, let's see :rolleyes:
 
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