Buying gold

[Trembling Hand]

Tell this to the Japanese who bought the NIKKEI at 46000 20 years ago and selling it under 7500 now.
Also see my email I sent to a friend thinking like you.

DUMB Example. At least I am thinking. Which you seem to not be capable of doing. If you say my point is wrong, that you shouldn't confuse timing with the long term out come. That gold is THE instrument to be "investing" in.

Lets take you feeble example of one point in time to see if it stands the same test you tried to pin on me,

Lets say the same Japanese bought gold 28 years ago instead of shares,


Lets say they got it at avg 1980 price of about $650.



Boy this gold game ain't all its said to be!!
Maybe the 90's will be better.



Nope!! Late 90's?

Nope! Still misery



Ha! what a joke this gold stuff. It's 2006 before we get to breakeven and not till last year until it shows a bit of profit!! 28 wasted years in gold and your point is what?? You make money when you buy it? Tell that to the fools that thought that in 1980s-the last bull market in gold.

 

[Trembling Hand]

Oh and here is a chart for a popular japanese share that was around in you example and has been paying a div. Bugger me its been in profit all that time! So tell me your point again??

 

[explod]

T/H were you one of those who got on last in 1980 by any chance. I know of a few and they have been bitter on gold since.

Your charts are selective and any guru can make the case they want. Many who have lost big time from attending the great seminars of the last 10 years can attest to this.

The 1980 blow off began when the bull started in 1970 at about $35 an ounce and it hit 800. 35 into 800 is 22times. The current bull market was confimed to begin after it bottomed twice between 1999 and 2002. 22 times 250 is 5,500 . It is said that on an inflation adjusted basis, $US800 is or should be about $2,300. Add that the this financial crises is a bit worse this time and it is becoming hard to find value anywhere else then maybe gold could hit US$5000 on a bit of overexuberance by those who will regret it 20 years hence.

Anyway like your charts, just a bit of ruminating

cheers explod

 

[Trembling Hand]

Your charts are selective and any guru can make the case they want.

Thats my friggin point!

I'm not down on gold, stocks, pork bellies or any other bloody thing.

They can ALL pay with GOOD timing and they ALL take with POOR timing. Anyone who wants to take the last 3 years and believe that's it will be repeated to infinity will end up just like the people who fell in love with the bull market ..... Broke!

And no I have never held gold more than a day. Though I have held gold shares from 03 to 06ish I think. And my partner still holds them on my recommendation.

 

[explod]

Thats my friggin point!

I'm not down on gold, stocks, pork bellies or any other bloody thing.

They can ALL pay with GOOD timing and they ALL take with POOR timing. Anyone who wants to take the last 3 years and believe that's it will be repeated to infinity will end up just like the people who fell in love with the bull market ..... Broke!

And no I have never held gold more than a day. Though I have held gold shares from 03 to 06ish I think. And my partner still holds them on my recommendation.

Good.

I follow charts closely and they assist greatly. But the fundamentals are why I am (at this time) attached to the gold idea. Some research will show the fundamentals for gold a very good for some time to come.

 

[moXJO]

Anyone who wants to take the last 3 years and believe that's it will be repeated to infinity will end up just like the people who fell in love with the bull market ..... Broke!

.

Hey don't knock my future Buyers confidence

 

[MR.]

I'm not down on gold. Its just another thing to trade.

Exactly..............

It's both actually. The instrument & timing.

To be the instrument, I hope it's hidden under your bed otherwise it appears to be just a trade!

Where is gold stored?

Is it in a safe with an "I owe you"? ....... Hmmm

 

[Glen48]

Every thing goes up and down RE goes up shares go down..but this is not your average trading years and its flying by the seat of your pants stuff so you need to look for the signs and when USA is now paying $1M a second on their bail out you have to admit that's some thing else.
Buy Gold and sell when the hot new investment arrives.
Any one who purchase a house 30 yrs ago would be in trouble to day..Any one whop paid 100's K for a 70 Muscle cars would be in trouble when you can buy a erotic sports car for less.l

 

[MR.]

The current deflationary forces may continue for another 12-18ths (unless we see sudden devaluation of the USD), which means lower RE and stock prices. But eventually governments will throw enough money at it to buoy prices, and we'll be in for one last inflationary bubble before it finally collapses.

So this "worthless paper" stuff might just survive a little longer!

 

[acouch]

my eod gold chart..
for those interested..
ac

 

[Uncle Festivus]

It's both actually. The instrument & timing. The instrument has been sitting up, forecasting what was going to happen, what did happen and what may happen ie it's been right so far. What practical choice is there now when even money in the bank is not as as safe as it was - or whether the global financial system will survive eg look at Japan going off a cliff?

If you are waiting for the tanks then you will have waited too long? Gold will be over $US1k by the end of this week, oh yes, you mark my words (sticking my neck out nervously ) It's only $AU13 away from $AU1500! Buy some gold and it will steady your trembles

Hey Trembles, I jagged the $1k gold thingy

Exactly..............



To be the instrument, I hope it's hidden under your bed otherwise it appears to be just a trade!

Where is gold stored?

Is it in a safe with an "I owe you"? ....... Hmmm

Not sure what you mean? I have some bullion, some gold equities, and some cash.

 

[Trembling Hand]

Hey Trembles, I jagged the $1k gold thingy

Yes Unc good timing of your short on the USD.

 

[projack]

DUMB Example. At least I am thinking. Which you seem to not be capable of doing. If you say my point is wrong, that you shouldn't confuse timing with the long term out come. That gold is THE instrument to be "investing" in.

Ha! what a joke this gold stuff. It's 2006 before we get to breakeven and not till last year until it shows a bit of profit!! 28 wasted years in gold and your point is what?? You make money when you buy it? Tell that to the fools that thought that in 1980s-the last bull market in gold.

I never suggested to invest in gold in good economic times, so I didn’t change from stock to gold just randomly for years ago, but, but for me at least it wasn’t hard to seen this crises coming. So don’t jump on me giving good advice, especially if everyone in the last few years that listened to me made money on it.
I told my friend years ago to sell his A$100,000 valued NAB shares and buy gold on it. He came up with the same arrogant “I know better than you” answer like you. Now he is siting on A$52,000 loss instead of a A$120,000 profit.
See also my earlier letter to him on the beginning of this thread.

 

[Trembling Hand]

I told my friend years ago to sell his A$100,000 valued NAB shares and buy gold on it. He came up with the same arrogant “I know better than you” answer like you. Now he is siting on A$52,000 loss instead of a A$120,000 profit.
See also my earlier letter to him on the beginning of this thread.

!!

 

[MR.]

Not sure what you mean? I have some bullion, some gold equities, and some cash.

Unk, assume the instrument you speak of is "gold". Gold is the instrument because of the safe haven in unsettling times. But when the tanks roll down the streets you state it's too late (to jump on)?

I was just referring to where your gold is being stored? If it's where everyone stores their gold, I'm just bringing up the actual instrument of gold as a safe haven perhaps may not be as safe as the instrument's description.

Cash is being held at the bank in your name I assume. Just like your holding of gold in a vault somewhere. If money fell apart you will not be able to withdraw your money back out from the bank. (although cash deposits are backed by the government, whatever that means) But Gold will still exist. But, because money has fallen apart do you think that gold in that vault will remain yours? Hope it's in your backyard, then it's the true instrument.

Just a discussion


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[inenigma]

Agreed. Gold in the bank's holding vault is as good as cash in the bank I reckon. I think I'd prefer shares over physically holding gold (or trusting a bank to hold it for me). Just my 2cents.

 

[Uncle Festivus]

Unk, assume the instrument you speak of is "gold". Gold is the instrument because of the safe haven in unsettling times. But when the tanks roll down the streets you state it's too late (to jump on)?

I was just referring to where your gold is being stored? If it's where everyone stores their gold, I'm just bringing up the actual instrument of gold as a safe haven perhaps may not be as safe as the instrument's description.

Cash is being held at the bank in your name I assume. Just like your holding of gold in a vault somewhere. If money fell apart you will not be able to withdraw your money back out from the bank. (although cash deposits are backed by the government, whatever that means) But Gold will still exist. But, because money has fallen apart do you think that gold in that vault will remain yours? Hope it's in your backyard, then it's the true instrument.

Just a discussion


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Yes, that is the dilemma facing everyone who is concerned about 'preserving' the value of their monetary units derived from productive work, up till now manifested in the form of paper money. We're talking the worst case scenarion here of course.

I have about 10% of net worth in bullion stored close by ie not in the 'trust' of anyone else. The only other way I would hold bullion is through the Perth Mint's allocated option, all other forms rely on somebody else keeping their end of the bargain, which if things get ugly they will look after themselves first.

I have approx 30% cash in bank at call. I don't believe the governments' deposit guarentee is physically enforcable ie if it was called apon then the gov simply doesn't have the physical money to give out. The problem then becomes when to withdraw the cash I have and then to 'store' it somewhere.

I have the rest, 60%, in gold equities. If I sell them & the banks are insolvent how will I get paid, and in what currency? It has only just started happening, but there are a few gold companies starting to talk about selling gold direct to shareholders, or public for that matter, so that might be another option.

I'm not sure if that's the best way to go but at least I'm not losing money, in fact up a lot now (+100%). Is there another way? Nobody knows coz it's never happened before ie the collapse of the monetary system! Not even in the first great depression. We're turning Japanese on a global scale?

 

[Glen48]

Gold has now pushed above $1,000 in 2009. Whether it will rise further or fall back to retest its lows is unknown. What is known is that gold's rise someday will not be stopped. Whether that day is today or in the future is uncertain. It is certain, however, that it will come.

The battle of central banks against gold has been in progress ever since the US dollar was officially de-linked from gold in 1973. The battle is now over 35 years old. When it began, the price of gold was $35 per ounce. Last year and again this year, it reached $1,000. For those unaware of the battle over gold, there is little appreciation of what has taken place.

For those aware, the 35 year tortured ascent of gold is a sign of its strength. Against all odds, the wishes of central bankers and those intent on preserving the empires that fiat currencies have built, have been thwarted.

That despite their best efforts, gold has continued to rise and will continune to do so until the resistance of the bankers is finally broken. On that day, the markets will reflect the triumph of truth and the fall of hubris.

D. Schoon

 

[michael_selway]

Hi Guys

Just wondering if you had any problems Trading ASX:GOLD on Etrade?

I tried to putting some Limit Orders in today and it gave me an "Error" Stock is Suspended"?

Does anyone know about this?

thx

MS

 

[Redwings]

Hi Guys

Just wondering if you had any problems Trading ASX:GOLD on Etrade?

I tried to putting some Limit Orders in today and it gave me an "Error" Stock is Suspended"?

Does anyone know about this?

thx

MS

Had the same problem too.

Was on the phone with them for about 10 mins (8mins on hold) as they tried their very best to explain that they are having technical difficulties......they said ASX was suppose to put it on Warrants but changed their minds or something and it affected their systems

The guys asked me to try again tomorrow morning.... Here's hoping that price will still be favorable tomorrow morning.