I do think we'll see GOLD take another healthy correction before the weeks out back to the mid 1600's before kicking back into gear
"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
I expect so too. Too much, too fast. Even so, a lot of punters have seen this coming from a long way off.
Edit. Having said that, the fact that the word "gold" is beginning to appear in newspaper headlines might suggest we're close to a peak, at least in the short term. We saw what happened with silver a while ago.
Last edited by OutToLunch; 08-08-2011 at 08:09 PM.
Prices have surged 21 percent in 2011, gaining for an 11th year, as the sovereign debt crisis and a faltering economy boost haven demand. While George Soros sold most of his gold in the first quarter, John Paulson, who made $15 billion betting against subprime mortgages, is still the biggest investor in the largest exchange-traded fund backed by bullion. Goldman Sachs Group Inc. raised its price forecasts in a report released today.
Is Gold priced in USD? If the USD goes down gold goes up right? So what's the appreciation in NZD terms over the previous 12 months?
Mr D.
Gold is priced in any currency you like, Mr D. It's true that a rapidly devaluing USD makes the gold price rise look fairly spectacular, they generally go in opposite directions. As Strat is fond of pointing out, sometimes the PoG increase is not so flash in NZD or AUD. But American and Canadian investors are keen on gold shares too, so the USD PoG changes have an immediate effect on dual listed gold shares (often on the TSX, the most favourable for gold/PGM). You can even see this happening during the day, the shares often follow the US gold price.
These graphs for NZ, AU and US prices show that the biggest economy had the more stable gold trend in fact. Ours was the most variable. Still, over 6 months the general trend was up for all three. If I use this chart system for 12 months the scales get messed up, trend upwards is still there though.
My apologies for the typo there Strat, all fixed, no-one will ever know! If those gold stocks did stay up like we all know they should, wouldn't it be easy. Guess we have to wait until it all settles down.
Im with this Stat fella but $1708 sure is a slap across the mug for Skol. Pitty my Gold stocks aint going along for the ride
No the goldies not getting much love yet many of their IGV an EBIT have gone up 100's millions IGV to 10millions in EBIT...many shareholders to scared to hold
many would rather buy an ETF which IMHO has been a major thorn in the side of many PGM shares an bullion as investors see in the past how the PGM price goes better than the guys producing the PGM but they only buy paper with little real PGM backing or right to own anything but a paper promise ..
PGM shares best way to get investor to get on board is to start to pay divies which IMHO will happen in time for many producers
"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
I got it right on the POO didn't I tricha? And now it's $83 and heading south, I love the smell of JetA1 in the morning, especially when it's cheap. LOL Peak oil - gold's going the same way so hope you've got your ass covered.
Ok so u do not have a brain tumor, just a bit of jetlag and rocket fuel sniffing.
I'll give u one goldie to cover your ass, NGF, 140,000 ounces for the year.
@ a cost of $1000 to produce, go figure.
Same as you couldn't go wrong on real estate up to 3 years ago, now look at the mortgagee sales and poverty-stricken punters up to their eyeballs in debt, many of them in negative equity.
I like the money I've got too much to join the herd.
I'm sitting on large amounts of cash and term deposits which is quite boring but a good decision in hindsight - and zero debt.
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Originally Posted by MrDevine
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