I'll reserve comment......not worth my time......let's catch up in a year...see you next September....
Maybe not quite a year to wait LD: I've been checking this chart every so often, and the resistance line might be hit soon, although in 1980 it just kept going down for awhile. All the time I've been learning about shares, I've been on a hiding to nothing (well, most of the time). Cheers.
Good move up for the Gold price 1657oz USD -1711oz AUD ....start of the move back on the bull trend...
"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
Thanks for the chart Strat. I read this in an Equedia email yesterday, good for gold bulls like JB and myself:
While the selloff in gold and silver has investors nervous, don't be. The selloff was due to many factors such as profit taking and margin requirements. When people lose money on stocks, they sell their strongest investments that have been making money to cover their loses. Gold was merely an innocent bystander. With the recent pullback in precious metals, the buying opportunity looks strong. While it may not be the exact bottom, gold and silver at these levels look very promising. Within a year's time, I fully expect gold to hit $2500 and would not be surprised to see it hit $2000 by the end of this year. In an article published by Bloomberg a few weeks ago, Dylan Grice of Société Générale calculated the "fair value" for gold based on the price at which each dollar in the U.S. monetary base would have been if backed by an ounce of the precious metal. As of June, this price would have exceeded $10,000/oz. While gold and silver sit at these levels, investors will have the opportunity to pick up these precious metal and related stocks at rock bottom prices. That's because sooner or later, certain events will make these precious metals climb higher and faster than they have before...
True, but if yields drop you make a capital gain, could be 8 or 9%.
I was talking about US bank savings rates not bonds ,what yeilds are you getting on your overseas fiat money holdings?
"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
Thanks for the chart Strat. I read this in an Equedia email yesterday, good for gold bulls like JB and myself:
Hi EZ.
Dunno mate.
Until Greece goes down we will continue this bumpy road sideways I reckon. Until she does finally slide off the cliff we wont know whos going over with her.
When she does, everything will tank. Stocks, gold, Guitar prices.
I just wish theyd get on with it. Im over meetings of world leaders getting together to save her for just another few weeks so they can try and suck a few more drops of blood from the poor. Im sure the Greek people are too.
I was talking about US bank savings rates not bonds ,what yeilds are you getting on your overseas fiat money holdings?
JPY is in a mutual fund, so not going that well, -9% for the year, USD mostly in mutual funds and cash, so very little and GBP about 2%. All liquid though JB, can get out tomorrow and while mutual funds in USD are down, USD going up helping to compensate, I dollar-cost average, so adding to mutual funds each month, have done since 1982.
USD cash I bought at .79.
I don't have debt, but the best option for those that do is pay it off because I can't think of anything better right now.
If you read some of the pages from the Indian papers all is not well with the gold and silver punters on the sub-continent because many of them have borrowed the money to buy PM.
TLS shares doing OK though, a little capital gain and 10%DY. Most spare cash in the bank at 5%.
Originally Posted by Skol
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