Gold-now $US1210/ounce

Gold.ax, gold coins and some gold mining, all about even splits. Gold has become what cash was to me about 5 years ago.

I don't see the point in holding cash when the Reserve bank has publicly stated it plans to make everyones cash holdings worth around 90 cents in the dollar in the next few years. And if thats not enough the tax office then takes a bit more.

While I'm not predicting it, there is a chance that banks will become insolvent in the next couple of years if and when the property market collapses, and with the goverment guarantee soon to finish, I don't want to be standing in a mile long line at the bank hoping to get my cash out when I can easily hold gold.
 
Nothing new.

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I've been a gold bug for many years.
 
Nothing new.

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I've been a gold bug for many years.

Inspiring, and I'm a gold holder and ultimately bullish on gold, but what this says to me is that either gold is now overpriced, or monetary deflation has been running at a lot more than the reported 3% over the last 10 years, but more like 15%.

I'm not sure which, but I think it explains why we get the odd 10-15% pullback in the gold price from time to time.
 
Inspiring, and I'm a gold holder and ultimately bullish on gold, but what this says to me is that either gold is now overpriced, or monetary deflation has been running at a lot more than the reported 3% over the last 10 years, but more like 15%.

Have a little faith! :D There is more to come. Possibly a lot more.

Central banks, Australia included, were increasing money supply measured as M3 by approx. 20% pa as long I have taken an interest. For most of the oughties this showed mainly in asset prices and nobody objects to their house and art going up, so Greenspan (in particular) saw nothing wrong.

Now that housing is on the nose in the US and people are leery of the share market (with good reason IMHO) all that money is looking for a home. 3 month treasury bills in the US give 0.01% return so to say that gold pays no interest is hardly material. Europeans are not keen on their deflating currency and things show no sign of improvement. This has caused a run on the Austrian Mint which has put up the "Sold Out" sign till they get more metal.

It's a defensive play and in a better world we would have no need for it, but the world economy sucks ATM. But no-one said you can't make a profit on a defensive play. :D:D
 
Sunfish - i'm heavy in Lithium.

You could be on the money but I don't know how to play it. Is that a grey powder? (That's prolly rhodium :)) If so you would not want to hold physical, I don't have the guts for futures and I've been too lazy to research the miners.

Almost anything ending in "ium" is getting scarce. I'm in the process of opening an account with a Canadian broker and may lighten up on Redback and dabble in some of their miners and royalty trusts.

Hope it goes well for you.
 
While I'm not predicting it, there is a chance that banks will become insolvent in the next couple of years if and when the property market collapses, and with the goverment guarantee soon to finish, I don't want to be standing in a mile long line at the bank hoping to get my cash out when I can easily hold gold.

gees I hope not!

i think SMSF is good for holding gold. can always take off with it and sell it for food and dam the consequences
 
You could be on the money but I don't know how to play it. Is that a grey powder? (That's prolly rhodium :)) If so you would not want to hold physical, I don't have the guts for futures and I've been too lazy to research the miners.

Almost anything ending in "ium" is getting scarce. I'm in the process of opening an account with a Canadian broker and may lighten up on Redback and dabble in some of their miners and royalty trusts.

Hope it goes well for you.

not playing, buy and hold.

and no, not holding in the physical sense - just exposure to miners.

just looking at the ramp up in Li_Ion battery usage worldwide.
 
Yesterday the Australian Mint said it sold more gold coins in the first two weeks of April than in the entire first quarter of the year. Nearly all the buying was coming from Europe. The mint told Reuters that it sold 243,500 ounces of gold coins and bars in the first two weeks of April compared to 205,000 in the first quarter.

very interesting we could see a pull back here then off we go again .as per chart (rough i know)

ps. expect 1250 before pull back .. but !!!
 

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very interesting we could see a pull back here then off we go again .as per chart (rough i know)
ps. expect 1250 before pull back .. but !!!
Personally I think Gold is heading higher in the short term (no pullback to $1000), I don't think we will see back under $1150 in this bull run. Think a run to $1350-1500 is likely before July with a pullback perhaps to $1200ish later in the year then higher again possibly towards a parabolic rise as the final stage of the bull takes hold.
 
Personally I think Gold is heading higher in the short term (no pullback to $1000), I don't think we will see back under $1150 in this bull run. Think a run to $1350-1500 is likely before July with a pullback perhaps to $1200ish later in the year then higher again possibly towards a parabolic rise as the final stage of the bull takes hold.


i agree the chart is just rough quick one to demonstrate the pattern i expect to follow .after this run up to 1400 (my guess) ,122x should be a base ,now later i will try and show on an aussie chart as thats what we buy and sell in but could run up to 17xx aussie
 
Personally I think Gold is heading higher in the short term (no pullback to $1000), I don't think we will see back under $1150 in this bull run. Think a run to $1350-1500 is likely before July with a pullback perhaps to $1200ish later in the year then higher again possibly towards a parabolic rise as the final stage of the bull takes hold.

$1250 , has pretty much just hit.

I predict pull back from here will occur. I sold a lot of my gold today.

I will buy back for 10% cheaper in the next 2 weeks.
 
$1250 , has pretty much just hit.
I predict pull back from here will occur. I sold a lot of my gold today.
I will buy back for 10% cheaper in the next 2 weeks.
When you say you sold your Gold was it a physical or paper position? I assume paper...we shall see, I don't think you will get your 10% pullback from here (at least not in USD, we could see the AUD rise against the USD causing AUD price to drop...)

Gold just past 1000 Euro (new high)
Passing new highs in USD (1250)
At new highs in Pound (860)
Closing in on AUD highs (currently over 1400)

It's a shame that most here are not taking part in what will probably be considered the greatest bull market we will see in our lifetimes.
 
I will buy back for 10% cheaper in the next 2 weeks.
This is a chart I have posted regularly. I can't remove the stock code so please ignore it. I am posting it because there have been many traders with your view who have intended to do just that. They are on record on Stockhouse.com.

BasicChart.aspx


How many do you reckon have made a dollar?
 
This is a chart I have posted regularly. I can't remove the stock code so please ignore it. I am posting it because there have been many traders with your view who have intended to do just that. They are on record on Stockhouse.com.

BasicChart.aspx


How many do you reckon have made a dollar?

I'm not sure what you are trying to show with that chart. It easy to pull out a chart that shows an upward trend in hindsight. Where will it go to from here?
To me its no different that going to the casino finding a table that has had 20 reds in a row and saying, "see, if only you'd kept putting on $1000 after it had 5 in a row you'd have made thousands."
 
When you say you sold your Gold was it a physical or paper position? I assume paper...we shall see, I don't think you will get your 10% pullback from here (at least not in USD, we could see the AUD rise against the USD causing AUD price to drop...)

Gold just past 1000 Euro (new high)
Passing new highs in USD (1250)
At new highs in Pound (860)
Closing in on AUD highs (currently over 1400)
.

Yeah, just the paper. Too hard to trade the physical and I don;t intend on selling that anyway as I couldn;t sleep at night if I didn't have some gold.
Tbh, the paper was for trading anyway.

Using contrarian indicators to sell and buy on the pullback.
Contrarian short term indicators:
When everyone thinks Gold will keep going up, it usually doesn't.
When it hits a new high in multiple currencies simultaneously, it doesn't last long.
When property investment forums have a thread on gold, its akin to a taxi driver recommending shares. ie get out now! :D
 
Edit: To Whatever:

I posted a chart of the last 12 months of a company that I know people have sold with the intention of buying back cheaper as you have said you would with gold. It doesn't always work.

Look at the chart. Do you think it would be better to have simply sat on the beach or do you think your trading skills are so great that you could pick entry/exit points on that stock? If you can trade that well you should not be posting on a property forum. The world is your oyster.
 
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