Gold

[Xerof]

I know I enter this thread at my own peril, but I have two things to say:

Skol is right at least one week every year, never-the-less, I do enjoy the banter.

Fridays sell-off had everything to do with margin increases and nothing to do with fundamentals.

[lakedaemonian]

I know I enter this thread at my own peril, but I have two things to say:

Skol is right at least one week every year, never-the-less, I do enjoy the banter.

Fridays sell-off had everything to do with margin increases and nothing to do with fundamentals.

Agreed......

I bought BIG between 1550-1600...even though I'm dollar cost averaging UP a good bit.

It continues to be the least bad option out there in my opinion.

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What concerns me the most is the future exit strategy.

Having been in silver for 7+ years(in my post history) I followed Eric Janszen's very rare sell signal approx 6 months ago and dumped my paper silver for a 5-7x return.

Physical is a different story......we sold off ALL of our physical silver in recent months as silver prices recovered and we recieved a surprising premium over spot as well...until this recent crash.....fortunately we are only left with less than 5% of our silver holding left and will not sell at this price...we were lucky to exit with the last 10-15% of our physical silver holdings in the weeks prior to the recent silver price crash.

What made me dump my silver......and makes me unlikely to buy back in even down in the high teen's low 20's is what Eric Janszen said...silver is politically irrelevant....gold is not.

While we own a good bit of gold physical locally...the majority is paper gold(allocated/owned physical audited daily and available to trade online).

I'm considering our local physical gold as a worst case insurance policy and accept if/when we sell it...we may not achieve maximum value for it...I'm resigned to that fact.

But over the coming few years(say between now and 2016) I expect to see massive volatility in gold prices as they trend higher.....price swings of over $100 a day may not become a weekly/monthly occurance....but will certainly become more common.

Unless we fall below 1500..which is possible but becoming less likely over time....I think I'm done with the gold accumulation........my emphasis now changes over to future exit strategy in the coming years....to maximize my return/maintain my capital's purchasing power...while minimizing downside risk once the gold boom eventually leads to remonitization and/or bust.

I'm a diehard advocate and follower of Eric Janszen....I'll sooner bet my family's financial security on a person with a near perfect 12+ year track record than Skol.

I'll check back in a year.....the day to day stuff regarding gold is a waste of time.

As you said....the fundamentals have not changed.

For the record....I'm not gold bug....I hate the fact it is the least bad option....but it's the least bad option to protect un-needed funds and keep them liquid until we get some clarity in the global game of monopoly.

[Skol]

Funny haven't heard from skol while gold bouncing the biggest move in history closing in on $140 move north within 24hrs I wouldn't be surprised to see 1700 crossed overnight ......the shorters getting out fast ....a return to the bull trend mean to 2,000 this year...

That's because I've been out fishing and incommunicado. Silver down below 26.70 for a while, but back there soon you can be sure of that, a temporary reprieve from the death sentence. Same for gold.

A continuing series of lower highs and lower lows and I'll bet even you know what that means JB.

Since some here follow Ralph Elliot's theories here's what he says about what might be 'Wave B'.

"Prices reverse higher, which many see as a resumption of the now long-gone bull market".

Next should be Wave C.

"Prices move lower in 5 waves. Volume picks up and by the end of Wave C, almost everyone realises that a bear market is firmly entrenched."

[dumbass]

he died a long time ago!

[Skol]

www.cnbc.com/id/44682274

[STRAT]

www.cnbc.com/id/44682274

Thanks Skol.
A reasonable short term analisis I reckon. The Gold chart is pretty ugly eh?

Short term at least.

Not so bad when you look at it over three years though. If it goes below $1500 and stays there you may get your "I told you so" day, all be it a few years on. My guess is its just more FOREX action.

[Skol]

Gold tanking - again. $1599, yep gold's the place to put your heard-earned cash and watch it go down the toilet.

Nothing to do with the USD, it's the same as it was a couple of days ago.

Punters want out, it's as simple as that. The goldbugs are busy blaming someone else, it's not their fault gold's imploding and they're losing heaps, it's someone elses. LOL

I was right, gold was a bubble and it's popped.

[elZorro]

Gold tanking - again. $1606, yep gold's the place to put your heard-earned cash and watch it go down the toilet.

Nothing to do with the USD, it's the same as it was a couple of days ago.

Punters want out, it's as simple as that. The goldbugs are busy blaming someone else, it's not their fault gold's imploding and they're losing heaps, it's someone elses. LOL

I was right, gold was a bubble and it's popped.

I just had a look at the TSX market index, very similar shape to it overnight so far. What we're seeing could simply be traders (rather than investors) selling their hedge gold at a profit to cover losses in the main markets.

I like the look of Strat's chart. OK, it's linear, not logarithmic, but it shows that at least for now, gold is still in a 10-year uptrend. In any case, gold has dropped about $300 recently, from $1900 at the recent top. 15% down, that's it? A lot of shares have done far worse.

[lakedaemonian]

www.cnbc.com/id/44682274

The traditional financial media HATE gold.....because their business models aren't configured to profit from it...and in fact gold is their competitive enemy....so what do you expect them to say?

Especially the likes of CNBC......because anyone who has been able to successfully remove the "training wheels" of self-directed financial management...they quickly realise CNBC is for suckers to be slaughtered.

CNBC is financial propaganda.

Personally, I HATE gold.....I would much rather deploy my capital in more high return on investment/equity private businesses as well as diversified alongside other more liquid investments.

But unfortunately, the financial/economic climate is decidedly quite sour....and the medium term forecast is also quite nasty.....so until then.....gold justifiably earns it's title of "least bad option", much like capitalism.

Once the game of global financial monopoly has been reset, the playing field returns to a somewhat level basis, and the currency used in the game to transact regains long-term stability/confidence or is replaced.....then I'll VERY happily bin gold and get back in the game more than I already am.

Like I said.....check back in a year....

[Skol]

The "least bad option", I'd say it was the worst bad option right now.

So who aren't the 'traditional financial media'? Are you saying Daryl Guppy's got it in for gold?

Where are we up to, I'd say the 'fear' stage.

http://www.steadfastfinances.com/blo...into-the-hype/