Gold down 7.6% from yesterdays high price!

 

Just in and looking at that now. Was getting pretty overextended up there!

Looks like a good day for the banks. Take it you got in on the action at RBS etc? Up 7.7% at the mo.

 

Nope, no interest in the banks...just riding what i carried over night and this mornings top ups

 

Cheeky little short on the EUR/GBP from 8800. Lets see what happens. Lol

Edit - Stop at 8815 and limit currently at 8860.

 

Never got a chance to get rid of my physical gold

Alloy I need more than a days notice next time theres a crash headed

 

You might need to edit that again mate!

You have had plenty of notice!

 

Yeah, stop at 8760, so what!?

 

Limit even. FFS, this is before the beer.

 

I've been on holiday, the first time I seen it mentioned was yesterday !

Oh well, I might need to sit on it a while longer

 

Try again...third time lucky...

 

Sorry Stef, the markets dont take a holiday, money never sleeps and all that

 

Whats the most annoying is I actually got all of what I was planning to sell packed up and ready to go today, 30 minutes later and it would've been posted

Probably for the best, I was going to use some of the money to try this trading business, I would have more than likely lost anyway

 

Stef, the chances of this being the end of the bull market in gold are relatively slim in my opinion. Then again I can't predict the future. But I wouldn't be too concerned about it. DYOR and all that though.

Still would have been a nice short-term earner though no doubt!

 

I know it'll more than likely go back up but I was wanting out !

Was going to try a wee bit of silver with the profit and see how that went over the coming weeks

I've been reading theres something thats happening on Friday that could make it drop sharply ?

You lot will know better than me what it is

Yes would have been a nice wee earner, 13oz in at £980

Just checked it again, I really dislike the look of that red line

 

Friday is Jackson Hole, Ben Bernake speaking with the market looking for some clarity/guidance on further QE and Fed proposals to address the sluggish US economy

 

My opinion is you are being a little short sighted. Don't worry about this retreat in gold prices, it is only temporary. Don't forget gold has had an uninterrupted upward run for ages with no retreats, this is basically a few months of retreats rolled into one, people taking some profit, and why not?

Nothing has changed, the fundamentals are all the same, the macroeconomics are all the same. QE3 being announced has just distracted people for a few brief moments, it won't last.

People on here talk about gold being a speculative bubble just ready to crash, that's what they wish. Over the last 18 months or so I've heard it from all the 'professionals' on here ie Marky 1, Trout and now Alloy (and before you guys get arsey I have a huge amount of respect for all three of you as I'm sure you know by now)

Each time one of them has been wrong. Yes gold is in a bubble, but what point of the bubble? How many people do you know who actually own gold as an investment? On this forum for example its probably you, me and and about two others. Does that seem like the frothy top of a bubble to you?

Does that seem like the days when even the shoe shine boy was talking about shares? Or when the road sweeper was thinking about btl? It doesn't to me.

Gold has a long way to go and I've been saying that on this forum since it was less than $1000 (I started buying at below $800), it is now circa $1800.

We will see $2500 in the not too distant future.


I started a thread about it being a final opportunity to buy silver a few months ago when it was iirc $33/oz (I started buying at $22), it recently hit $43. In that thread I said silver would hit $50 before the year is out and we will see $100 within the next year or so and I stand by that.

Bottom line, imho, don't sell your gold just yet but consider buying silver in the dips.

I had threads titled something like 'Gold!' and 'silver-perhaps time to dip yer bread'. Dig them out if you are interested, nothing has changed. If anything the macro economics supporting these metals are even worse




Damn! Promised myself I wouldn't post on bbs anymore but couldn't resist! Lasted a few months though.

 

Im several percent down on my Centamin shares

 

Hey DD long time, welcome back

I'm short Gold in full size now, initially at 1742 and then averaged that loser at 1891 so average price of 1816, however I am long Platinum at 1714 same size nominal positions in each.....

CME have just hiked margin rates on COMEX gold again, remember when they did that to silver in may....collapsed 50%.....I expect you to have a fantastic buying opportunity to add to your long over the next week. To me a close below 1820 will then target 1720 followed by 1500, I will look to scale out of my short at these prices

DYOR good luck all

Edit: to me gold isn't a bubble as such because the fundamental drivers of price remain, Jackson Hole is a big event on future movement. Howwever over recent weeks gold has been bought not just as inflation protection but as a flight to quality as risk appetite has soured for equities, this is the bubble within the trend as this crowded trade unwinds it will burst. That's the move im looking to trade but cautiously due to Fridays potential news and the general capricious state of any asset class at the moment

 

Another good day today for my portfolio

Chip

 

Gold - tanking again

 

Back to the 200 average I wonder?

 

$400-600 by the end of 2012

OK, maybe not that far - but under $1,000.

 

I know you know your stuff so you won't need me to remind you how many property bulls said the same thing about property between 2005-2008!!

 

Hmmm, nice to see your all in agreement on gold then

 

Quoted for perpetuity.

 

Want to wager? Or shall we speculate in the markets

 

I'll bet you a tenner right now, which I'll paypal gift you or whatever you wish at the end of 2012 if gold is below $1000. If it isn't, you gift me a tenner? Deal?

You'll get a few pints out of it if you're right.

 

I'm not being greedy in these markets, just bought back 1/3 of my Gold for $100 per contract profit and also sold same size nominal in platinum for around $80 per contract.....if it wasnt for Bernanke on the wires tomorrow I'd still be running the full position

 

The young apprentice challenges the old master.

 

tenner...few pints...wow beer is cheap in scotland!!