The Gold thread

room305 said:
To be fair, they did warn that anyone alarmed by volatility should probably switch to cash or bonds. It really depends on how long people are willing to stick with their investment.

As for gold being weak? It has bounced back impressively from its May lows but it is definitely not an investment for someone concerned about volatility.
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I still think we'll see gold at $550 before >$740 again. Why? Central banks are stepping up their interest rate hikes. It's only windowing dressing mind you, to properly tackle the consequences of real negative rates of the early 2000s we'll need extreme measures like in the late 70s, but that won't happen just yet. Hence, I reckon we're in for another round of soft pricing for gold. All IMHO of course.
 
I could see price falls as well, in the August/October period maybe. Seems to be decoupling from stocks as well. Today, as I'm just looking, it has jumped incredibly but is still well off the $740 peak.

For anyone interested in diversifying into gold but who is perhaps uncomfortable with such volatility, gold mining stocks might be an option. Although I'd be interested in hearing W2DW's opinion on such a strategy.

Personally, if we see a fall in gold prices in a few months, I'll be buying gold bullion coins and burying them in the backyard ;)
 
room305 said:
I could see price falls as well, in the August/October period maybe. Seems to be decoupling from stocks as well. Today, as I'm just looking, it has jumped incredibly but is still well off the $740 peak.

For anyone interested in diversifying into gold but who is perhaps uncomfortable with such volatility, gold mining stocks might be an option. Although I'd be interested in hearing W2DW's opinion on such a strategy.

Personally, if we see a fall in gold prices in a few months, I'll be buying gold bullion coins and burying them in the backyard ;)
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A certain unmentionable on-line bank in Ireland starting with the letter "r" offers a gold mining stock fund and you can set up a regular €100 contribution plan. Ideal way to average-cost into a gold equity position. I would suggest no more than 10%, 15% at most in this asset type for novices. If the fund does well, sell off some portion to keep allocation at the 10%-15% mark. Another unmentionable international broker based in Luxembourg starting with the letter "I" sells mutual funds and anything traded on all the major intl xchanges.

I believe these topics have been covered earlier in this thread.
 
Have been waiting to get a position on Gold for a while now and will probably be moving slowly over the next few months.

One thing that intrigued me though is the noises the Chinese and Saudis in particular have been making about diversifying into Gold. Obviously you're looking at a big quantity for such a move.

Why are they pre-announcing such a move and what impact will (both the announcment and the eventual move) have for the price of Gold in peoples opinions?
 
Krugerrands

Hi,
Are Krugerrands available for purchase in Dublin in small quantities at a time?
thanks
 
Re: Krugerrands

gabhla said:
Hi,
Are Krugerrands available for purchase in Dublin in small quantities at a time?
thanks
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www.gold.ie sell Krugerrands although I'm not 100% about quantities, I think you can purchase a small number of coins.
 
Gold to $575... BUY between here and there.. shares, bullion, ETFs whatever u fancy...

IMHO of course :)
 
I think gold will jump up and down a bit between now and the end of Aug-early Sept. Mainly around the $620-$570 level. Maybe dip as low as $550. Think the first week in August is usually a seasonal low for gold but with the conflict in the ME escalating, who knows?

I'm averaging in now and reckon anything around these prices will look like the bargain of the century in a few years time.
 
changing my mind again J

Im buying right now, today, at current levels…. back on the gold train….
 
walk2dewater said:
changing my mind again J

Im buying right now, today, at current levels…. back on the gold train….
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Interesting. Very interesting. What made you change your mind?
 
Gold won’t break down any further, it’s forming a bottom.

The No.1 bubbly property market in Western world is about to go ballistic.

So after some mulling these 2 seemingly unrelated points about in my little brain, combined with the cushion of some excellent gains on options recently, I reckon its time to gradually increase my % of gold !!
 
walk2dewater said:
Gold won’t break down any further, it’s forming a bottom.

The No.1 bubbly property market in Western world is about to go ballistic.

So after some mulling these 2 seemingly unrelated points about in my little brain, combined with the cushion of some excellent gains on options recently, I reckon its time to gradually increase my % of gold !!
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I guess the increased level of interest from UAE, China etc. and general awareness of gold could have caused this. I am sceptical though and this coupled with the fact that I have some irons in the fire elsewhere, mean I will hold off increasing my allocation.

In a few years though, whether you bought in at $635 or $570 will probably seem somewhat academic.

So no retest of the magic 50dma for gold. I'm more than a little intrigued by this turnaround W2DW and shall watch from the sidelines (for the moment) with interest.
 
walk2dewater said:
The No.1 bubbly property market in Western world is about to go ballistic.
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It really does seem primed to go nova over there doesn't it..?
 
Trading volume on GLD ETF looks light still, despite the latest jump, so I think the "seasonal low" will still hold for August.

What's the "no. 1 bubbly property market in the Western world"?
 
room305 said:
What's the "no. 1 bubbly property market in the Western world"?
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Ireland. And by 'ballistic' I mean, up, a lot.

Things I've heard and seen recently have made me realise I've (vastly?) underestimated the true extent of Irish religious zeal for property.

No more discussion of the P word, dont want this thread blocked :)
 
I think we're turning Japanese, I say we're turning Japanese I really think so....
 
walk2dewater said:
Ireland. And by 'ballistic' I mean, up, a lot.

Things I've heard and seen recently have made me realise I've (vastly?) underestimated the true extent of Irish religious zeal for property.

No more discussion of the P word, dont want this thread blocked :)
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I hear ya. Wouldn't disagree either on the property front.

I'm more cautious on gold. Would still expect a retest of yearly lows - or fall close to - next month or maybe early Sept, before we see the bull run of the century.

Though for full disclosure I should admit I am holding a small short position on gold, so perhaps that is colouring my opinion.
 
walk2dewater said:
Ireland. And by 'ballistic' I mean, up, a lot.
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Scratches head.

walk2dewater said:
Things I've heard and seen recently have made me realise I've (vastly?) underestimated the true extent of Irish religious zeal for property.
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Perhaps you could post some of those things you heard over in the appropriate thread?
 
What about silver, is anyone interested. So WalkdWater you say you are jumping back in now. So what are you jumping back into? Is it the mining shares. the Gold ETF, or Gold futures, hardly bullion. Did you get completely out of gold a few months ago or just reduced your holdings. Ive held silver and gold bullion for about 2 years now. However it was a bit unusual the way gold, silver and equities dropped in unison. The turmoil in the middle east seems to be making investors rush to oil rather than gold. Any Thoughts ?..
 
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