JB, your article is 3 1/2 years out of the date. the recent rise is on very low volume and is not confirmed at all. VERY solid resistance is at $1350. I would be exiting any long position right now before the next leg down starts as gold is now trading in a range that will fall sharply should QE be cancelled in a month. the risk is massive compared to reward. id be taking the cash and running, fast...
Yeah well that was my point 30 months ago Gold was booming @ round $1200oz the PM sectors were well liked investment wise... Media also talked up Gold as a investment etc ...profits looked large for producers / Explorers raise funds easier no worries
.Present time Gold $1320oz we have a smashed PM sector/talk of mass lay off's, mine closure's
Mass Anti-PM sentiment i.e only for nut job Gold bugs weirdo's that will lose everything DOOM DOOM Gold Crash any-day bah bah T/A shows it's all over ....
? whats changed
Oh thats right Obama US FED etc said it's all good in the O USA .....going stop creating trillion's more debt soon we HOPE so all good
how humanity is magnificently capable of self-deception thanks to the media
Last edited by JBmurc; 14-08-2013 at 10:45 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
JB, your article is 3 1/2 years out of the date. the recent rise is on very low volume and is not confirmed at all. VERY solid resistance is at $1350. I would be exiting any long position right now before the next leg down starts as gold is now trading in a range that will fall sharply should QE be cancelled in a month. the risk is massive compared to reward. id be taking the cash and running, fast...
From my observations prices only move wildly on black swan events that by nature were unforeseen. Everybody and his dog knows about the QE being wound up in the near future so if anything gold is more likely to go up on that event as it will be already factored in. Kind of like sell the rumour buy the fact.
It's been the amazing, runaway boom of the past decade. If you'd put your money into gold at the lows about 10 years ago, you'd have made a nearly 400% return. That's left pretty much everything else—stocks, China, let alone housing—in the dust.
That's cherry-picking, everything out-performs for short periods, but over time gold is a lousy investment.
Average AKL sale price 1973 $18,469
Current sale price, $645,000
Up 34.9 times.
Average 1973 gold price $97.39.
Current price $1,320.
Up 13.5 times.
And that doesn't include the rent!!!!!!!!!!!!!!!
Silver is even worse, since 1973, silver is up 10.5 times.
Not gonna be much of a retirement at that rate JB.
Cherry picking thats rich coming from the cherry picking King LOL
AKL property you see that continuing ? so say Auckland properties in 20yrs go up 17 times(using half your above metric's timeframe)
so 2033 Average AKL sale price 10.9mill NZD LOL
The likes of Silver has been very depressed for the last 40-60yrs but over the last decade It's finally getting some legs now I could see Silver doing what Auckland property did over the last 40yrs in the next 40 easy on the back of higher demand / tighter supply ....$720oz Silver for a precious metal that's 10,000 application's used all mostly daily...
Oil for 100yrs didn't move much at all priced in todays US dollars ....But then demand started to increase more than increase of production / discoveries harder to find to replace reserves ...
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
You can't rent silver, even the dimmest punter knows that, that's why it's dragged its feet.
As for AKL property, why not? I bought a waterfront section a while back for $288k (had to be lucky numbers, bought it off an asian) and sold it for $560k.
Why not? well it's pretty simple 10.9mill for a 150yr old villa ...so the average Auckland family will be needing to earn mega money to just pay the interest bill ....going need some serious Inflation at some stage ....down here been very little in property inflation for the last 6-7yrs ...can buy houses under cost to replace ...agents need more listings ..overall stagflation conditions costs to build increase but values aren't moving much at all..will see prices move but be lucky to see 1% cap growth p.a if taken from 04-05..but some how Auckland will just keep going up talk about bubble fueled by low interest rates how many new buyers are debited to the eyeball's just keeping afloat thanks to record low rates and the beliefs from the SKOLs round that Auckland property will only ever keep going up>>>
Last edited by JBmurc; 15-08-2013 at 01:02 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Bought it a while back in area punters said nothing would ever happen, that I'd do my dough. For a while I thought they were right, then it went ballistic.
Bought it a while back in area punters said nothing would ever happen, that I'd do my dough. For a while I thought they were right, then it went ballistic.
same happen when I brought several section's in unliked part of Invercargill valuator believed the price I paid was only 2-3k less than his new value thought I was dreaming to even get that value ..sold them all to a big timer North Island developer for 24,500ea more than I paid 12months later 1700% return on invested funds..
After that sale in 07 I really wanted to buy into the Auckland apartment market that was hitting the wall in 08 but badly bank wouldn't lead me the money didn't like the market at the time
Last edited by JBmurc; 15-08-2013 at 01:25 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Yeah media really pumping the negatives just like they were pumping the positives at 1800oz+ in the mean time Gold 1341oz USD
$1465oz AUD
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Originally Posted by moosie_900
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