** WARNING: Gold "Panic Spike" Imminent **

[SilverMark]

Take the last couple of weeks out of the equation

Why skew the data by doing that?

because its an anomally .When it spikes like that it can go down just as fast. so in a few weeks if it stays there il be happier & might be cheering but for now im not

It may be an anomally in a statistical sense, but it is the market factoring in the further devaluation of fiat currencies that are about to be approved. If it comes down tomorrow, it'll go back there soon enough. I don't think it can be discredited so quickly given there was a major change in the fundamentals that it corresponded with.

 

[hiho]

The fundamentals are obvious and the alternatives are frightening,

 

[renovator]

Why skew the data by doing that?

because its an anomally .When it spikes like that it can go down just as fast. so in a few weeks if it stays there il be happier & might be cheering but for now im not

Mind you, what you are calling an anomaly is actually reality. If you remove it what you have left is not reality. The price "spike" is really happening in the real world. It may not even be a spike. Why not take it into account?

Because i have no intention of selling any gold atm if it stays there stable then it will be gospel but for now its just a graph that can go south as fast as it went north .Im not one to be counting chickens before they hatch.I look for the long term trends not just daily spikes then have a party

We all look at it differently feel free to party hard but i'l wait till the fat lady sings.I tend to evaluate things quarterly so when the time comes to evaluate again il see how it looks I could be singing a different tune by then

 

[Mr Medved]

Take the last couple of weeks out of the equation then calculate with a lump sum invested calculated daily paid mothly & compounding the balance I think you will be surprised at the sums.

So you dont take into consideration CGT on the sale of your gold as a tax?

I generally keep a daily check on the gold price so am aware spot in AUD hadn't moved alot in the 11 months prior. The last year has been a fabulous buying window in AUD. However, even without the last few weeks it still has been competitive with the banks for $$$., and I think we agree where to be in the long run.

No CGT event = no CGT.

I have a similar view with GP re gold and silver but it's worthwhile holding enough silver to benefit from the silver bull market.

 

[Gold Kiwi]

I'm amazed that record highs for gold in AUD and USD have hardly caused a whimper on the forum.

I was too busy celebrating.

 

[jnkmbx]

Maybe it's because silver has outperformed it by a long shot!

Gold and silver have two different roles in my portfolio. The more educated I become on monetary affairs, the more I want to hold my wealth in gold over silver.

Can you expand on that GP?

Anyone with gold in their handle will prefer gold over silver, just like anyone with con in their handle will be a con, c'mon

Just kidding, randomly generated names don't count

 

[Mi lao shu]

One week ago i make my decision to buy 3 oz of gold coins at Aug 3rd, after Congress pass the bill and prices goes down. And this didn't happened, prices go up,so rally was not caused with us debt ceiling, like most of us expected, it was something else, something which was covered with congress show, maybe is changing crimex police from July 15, maybe smart players play their game as they know limit will be raised and we will be swiming in USD again, but something is fishy here, my conclusion is that big players is buying bcoz spike is to high to be caused by SS, if someone who have A LOT of USD calculate what will be price after this 2.5T go in markets, it is wasting of time to wait to price reach 2000USD/oz or above he will start buying now and sooner then we expected price can be 2000 USD and more.
So my weak mind didn't hold on, and i make my move today and buy one set of 1,1/2,1/4,1/10,1/20,oz set of 2011 Gold panda + 1/10oz 2010 gold panda, 2 oz total for 22520rmb or 3480usd or 1740usd/oz,I am weak for gold maybe i am addicted too , if price goes down doesn't really matter i got my VIP card today in China gold coin who give me 5% discount for future purchasing. 1 oz more will wait that drop, now i feel cool....

 

[Dogmatix]

@ GoldPelican

"Gold and silver have two different roles in my portfolio. The more educated I become on monetary affairs, the more I want to hold my wealth in gold over silver."

You might like to read FOFOA (fofoa.blogspot.com) then, if you haven't.

Quite the revelation IMO, when I stumbled there from Bron's blog years ago.

 

[JulieW]

Good prices Mi lao shu. In Australian dollars 3,257.42 which is a good price for fractional coins - What city do you buy from?
Do gold sellers in China have only Panda coins or do they have coins from Europe and Australia and USA also?
Are coins more popular or bars?

One week ago i make my decision to buy 3 oz of gold coins at Aug 3rd, after Congress pass the bill and prices goes down. And this didn't happened, prices go up,so rally was not caused with us debt ceiling, like most of us expected, it was something else, something which was covered with congress show, maybe is changing crimex police from July 15, maybe smart players play their game as they know limit will be raised and we will be swiming in USD again, but something is fishy here, my conclusion is that big players is buying bcoz spike is to high to be caused by SS, if someone who have A LOT of USD calculate what will be price after this 2.5T go in markets, it is wasting of time to wait to price reach 2000USD/oz or above he will start buying now and sooner then we expected price can be 2000 USD and more.
So my weak mind didn't hold on, and i make my move today and buy one set of 1,1/2,1/4,1/10,1/20,oz set of 2011 Gold panda + 1/10oz 2010 gold panda, 2 oz total for 22520rmb or 3480usd or 1740usd/oz,I am weak for gold maybe i am addicted too , if price goes down doesn't really matter i got my VIP card today in China gold coin who give me 5% discount for future purchasing. 1 oz more will wait that drop, now i feel cool....

 

[Yippe-Ki-Ya]

Can you expand on that GP?

Gold = Money.

so is silver

 

[Mi lao shu]

Good prices Mi lao shu. In Australian dollars 3,257.42 which is a good price for fractional coins - What city do you buy from?
Do gold sellers in China have only Panda coins or do they have coins from Europe and Australia and USA also?
Are coins more popular or bars?

One week ago i make my decision to buy 3 oz of gold coins at Aug 3rd, after Congress pass the bill and prices goes down. And this didn't happened, prices go up,so rally was not caused with us debt ceiling, like most of us expected, it was something else, something which was covered with congress show, maybe is changing crimex police from July 15, maybe smart players play their game as they know limit will be raised and we will be swiming in USD again, but something is fishy here, my conclusion is that big players is buying bcoz spike is to high to be caused by SS, if someone who have A LOT of USD calculate what will be price after this 2.5T go in markets, it is wasting of time to wait to price reach 2000USD/oz or above he will start buying now and sooner then we expected price can be 2000 USD and more.
So my weak mind didn't hold on, and i make my move today and buy one set of 1,1/2,1/4,1/10,1/20,oz set of 2011 Gold panda + 1/10oz 2010 gold panda, 2 oz total for 22520rmb or 3480usd or 1740usd/oz,I am weak for gold maybe i am addicted too , if price goes down doesn't really matter i got my VIP card today in China gold coin who give me 5% discount for future purchasing. 1 oz more will wait that drop, now i feel cool....

Shenzhen, so far i see that they have huge number of different coins from China, some r very beautiful and rare, i will try to get some catalog and link to post it here, also i see Singapore dollars,
Macao patacas, 2012 UK Olympics,and some other Commonwealth countries too i think i see Canadian coins too, they also have lot ob bars standard sizes and some Chinese style rounds as well.
I didn't see people to buy bars personally , but anyway probably number of people who can afford coins is larger.

 

[Gold Kiwi]

Can you expand on that GP?

Gold = Money.

so is silver

It could be strongly argued that in the electronic age silver fails to meet one of the criteria for money: non-essential for consumption.