Hands up.
- Thread starter Slimey
- Start date
Yes, view them with a pinch of salt but sadly paper gold can be manipulated in the short term, Traders make money both ways, up and down. Just like how they hammered down gold in July-Sept last year, completely illogical but gave us newbies an opportunity to scoop it cheaply. What is important is to maintain calm when the hammering comes (Be it now or closer to $1600) and scoop some more. This is what my post is about.
Goes to show how the value of the $ has dropped over time....cough cough, I mean the value of gold has gone up over time.
(Actually I really do mean the 1st part)
aelmsu
Member
That paints a nice picture but it's not a nice straight line. You'd be having a bad time if you bought in at $1900/oz in 2011-2012 for example...
The opportunity cost of holding gold can be high.
Yes and central banks are about to destroy more value in paper currencies.
Yes, that's why it's better to buy before it rises a lot.
The opportunity of holding property can be even more expensive.
mrsilverservice
Well-Known Member
Especially if it cracks and crumbles and falls down
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The Book of Psalms Chapter 96 verse 4
For the Lord is great and greatly to be praised,He is to be feared above all gods
I'm a lousy trader. How I overcome this is by averaging my buys and also my sells (for other investments).
I bought my first gold at $1320 in May last year. If you look back at some of the news and commentaries in Apr/May last year, there's a lot of bullishness in gold and especially silver, it's similar to what we are seeing since June, although at a smaller scale.
But despite the bullishness, silver collapsed with gold and end below $1200 by August. Not encouraging. After I got over with the disappointment, in Oct, I bought gold again at around $1230, averaging down my cost. I remembered around that time, Harry Dent and Jim Rogers were saying gold will fall below $1000. Of course, we now know that gold can never fall below $1000. The big boys, central banks, billionaires, etc, will come in scooping up all that cheap gold. Not to say gold won't fall back to $1100 or $1200 though,.
Then I bought some again in Dec-Jan for around $1280. My last buy was at $1425 a month ago. I'll be pausing for a while even if it goes up to $1600 because a pullback is a matter of time - which most people agree.
If there's a pullback, this time round, I might be looking at GDX?
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Cost averaging through the ups and downs is the only way to ensure you don't miss out entirely on any gains in the price of gold.
SilverNGold
Well-Known Member
Hi, I try to trade gold etf to use the gains to offset the price I pay for the physical...
SilverNGold
Well-Known Member
Hi, I try to trade gold etf to use the gains to offset the price I pay for the physical...
SilverNGold
Well-Known Member
And, ometimes when I become careless and put in a buy twice!! Like my comments.
Good method as long as you make distinction n between physical gold and paper etf.
SilverNGold
Well-Known Member
Yes. I guess one can be looked at as income activity and the other is longer term savings.
Put a buy order in @ 1440 USD & then Another @ 1400 USD. I'm guessing you will get a tap at both.
Drongo
New Member
I prefer entrails myself, for accuracy
Looking at the price movements, not sure if it will even get to 1450 USD.
Pt is surprising strong. The only day where the price is higher is the 4th September. In order words, it's near recent highs except 4th Sept. Very strong buying going on.
Double top is in. It's overbought. 1400 USD will be the spingboard. Just my guess.
More than a month has passed, the correction doesn’t seem to be happening or has it already happened? Silver is surprisingly strong.
Have I missed the boat again?
Fear of rising silver is recently on the rise again if you look at some of the recent postings.
Have I missed the boat again?
Fear of rising silver is recently on the rise again if you look at some of the recent postings.
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