Gold Price - Where is it heading?

Bill M · 18 February 2009

cuttlefish said:
Had a quick look at cash4gold.com (mentioned in the article BillM posted). They are a gold buyer not gold seller - so they're encouraging people to sell gold to them, not buy gold from them.

Hi cuttlefish, I posted that because when I read it I was a bit blown away by the very different opinions they had. Generally I treat all such reports with quite a bit of scepticism, but it was interesting if not silly in some areas.

Just a question guys, how would you buy gold yourselves? Lets say you simply want to buy and sell gold easily how would you do it? Buy it by purchasing GOLD on the ASX or the Perth Mints Warrants? Or would you buy physical? If you chose the later what is the easiest way? I believe there is a company in Pitt Street Sydney at: http://www.ausbullion.com.au/. How would you purchase your gold?

electronicmaster · 18 February 2009

Bill M said:
Hi cuttlefish, I posted that because when I read it I was a bit blown away by the very different opinions they had. Generally I treat all such reports with quite a bit of scepticism, but it was interesting if not silly in some areas.

Just a question guys, how would you buy gold yourselves? Lets say you simply want to buy and sell gold easily how would you do it? Buy it by purchasing GOLD on the ASX or the Perth Mints Warrants? Or would you buy physical? If you chose the later what is the easiest way? I believe there is a company in Pitt Street Sydney at: http://www.ausbullion.com.au/. How would you purchase your gold?

Physical is king IMHO

cuttlefish · 18 February 2009

In the past I've bought from AGR Matthey but they aren't there anymore so yes now I'd go into ABC in Pitt Street. I called them a couple of weeks ago and they had gold in stock. If you buy it in lots of under $10k at a time you don't have to fill in the additional Fed Government paperwork.

I also have asx.GOLD - this seems like a well defined structure designed to as close as possible be the same as a physical holding and you can theoretically take your redemptions in the form of gold as well (its stored in London I believe so you'd have to redeem it to a London based storage location).

Dangerous · 18 February 2009

Brisbane - Ainslie Bullion Company in Queen Street. I've been buying physical for a few months....

First started looking into it after the Daily Reckoning teachings.

a word of warning... it is addictive stuff. Picking up a kg bar leaves Viagra for dead.

Uncle Festivus · 18 February 2009

I've seen an interesting trend developing on the ABC 7pm news lately where Allan Kohler totally ignores anything to do with gold, especially the AU price. At least the commercial stations show the US price even though it's most often wrong. I sent the ABC an email about it but deafening silence!

Just out of curiosity and to see if public pressure will change their attitude, you can contact them to ask them to show the gold price, especially in $AU, at the following -

http://www.abc.net.au/contact/contactabc.htm

Glen48 · 18 February 2009

Now that's boast picking up a bar with one.
I been buying from a mate mainly things like Necklaces etc but at scrap prices.
I wonder if the Feds will stop us owning Gold like the 30's?
Also will the Fed's up tax's to get money in once the fan gets hit.

Ageo · 18 February 2009

Glen48 said:
Now that's boast picking up a bar with one.
I been buying from a mate mainly things like Necklaces etc but at scrap prices.
I wonder if the Feds will stop us owning Gold like the 30's?
Also will the Fed's up tax's to get money in once the fan gets hit.

Glen you from the U.S?

No government especially in the U.S will confiscate gold now as that will cause a revolt. Also gold cant be tracked since alot of it is bought on cash and buried. (a cheaper way to buy bullion is buy it in granules then once you have a decent amount get it assayed and formed into a hallmarked bar so when you sell it represents bullion value).

And as i have mentioned earlier the best way to acquire a gold bankroll and do it fast is buy acquiring scrap (which is heavily discounted).

I have purchased 11kgs in the last 4 weeks, its been totally insane.

sinner · 19 February 2009

Just lost the last opportunity to make a higher high I think.

Time for retracement? I hope so. Even though continued gold bullishness increases profits, strong upward moves tend to make me very nervous.

Last chance for a bounce!

Wysiwyg · 19 February 2009

These nutters seem hell bent on driving the POG through the roof.Is 1000 USD too much to aim for on this leg up?Bulls getting tired I reckon.

Anyway your fillings are worth this much per ounce if anyone wants to extract them.

982.00 USD = 1,537.95 AUD

explod · 19 February 2009

sinner Re: Gold Price - Where is it heading?

--------------------------------------------------------------------------------
Just lost the last opportunity to make a higher high I think.

Time for retracement? I hope so. Even though continued gold bullishness increases profits, strong upward moves tend to make me very nervous.

Last chance for a bounce!

Wysiwyg Re: Gold Price - Where is it heading?

These nutters seem hell bent on driving the POG through the roof.Is 1000 USD too much to aim for on this leg up?Bulls getting tired I reckon.

Are you guys really serious. Gold is most upredictable (thoung interestingly less volatile of late, maybe calm before explosion )but one thing is certain in these bad times it has become the only good investment in town.

Watching the gold price go up and reading your take cracks me up.

The hard way I have learnt to just follow along behind the chart. Trying to run in front gets you run over.

Wysiwyg · 19 February 2009

Well I`ve pulled back to the wider angle lens of a yearly chart and the bearish divergence on the MACD/Histogram suggests the retrace is near.

The price continues to rise while the histogram fails to make new highs (see note on chart).Chart is a daily.Also note the peak in July last year was 988.75 -- where we are now.

Bill M · 19 February 2009

cuttlefish said:
In the past I've bought from AGR Matthey but they aren't there anymore so yes now I'd go into ABC in Pitt Street. I called them a couple of weeks ago and they had gold in stock. If you buy it in lots of under $10k at a time you don't have to fill in the additional Fed Government paperwork.

I also have asx.GOLD - this seems like a well defined structure designed to as close as possible be the same as a physical holding and you can theoretically take your redemptions in the form of gold as well (its stored in London I believe so you'd have to redeem it to a London based storage location).

Thanks to all of you for that, much appreciated.

Trembling Hand · 19 February 2009

Uncle Festivus said:
I've seen an interesting trend developing on the ABC 7pm news lately where Allan Kohler totally ignores anything to do with gold, especially the AU price. At least the commercial stations show the US price even though it's most often wrong. I sent the ABC an email about it but deafening silence!

Just out of curiosity and to see if public pressure will change their attitude, you can contact them to ask them to show the gold price, especially in $AU, at the following -

http://www.abc.net.au/contact/contactabc.htm

Unc you don't want him talking about gold. The day he mentions something is hot is the day you should short it. My partner even laughs at him about his calling of the hot move to then see it drop the next day. And she doesn't trade - she has just noticed his always calling tops & bottoms.

Uncle Festivus · 19 February 2009

Wysiwyg said:
Well I`ve pulled back to the wider angle lens of a yearly chart and the bearish divergence on the MACD/Histogram suggests the retrace is near.

The price continues to rise while the histogram fails to make new highs (see note on chart).Chart is a daily.Also note the peak in July last year was 988.75 -- where we are now.

To me it looks like it just broke up through a rising wedge (bearish?), then again I've given up on the tech analysis of gold, just sit back & enjoy the ride?

Trembling Hand said:
Unc you don't want him talking about gold. The day he mentions something is hot is the day you should short it. My partner even laughs at him about his calling of the hot move to then see it drop the next day. And she doesn't trade - she has just noticed his always calling tops & bottoms.

Now that you mention it, true! Maybe we could develop the Kohler Contrarian Indicator, KCI?

sinner · 19 February 2009

explod said:
Are you guys really serious. Gold is most upredictable (thoung interestingly less volatile of late, maybe calm before explosion )but one thing is certain in these bad times it has become the only good investment in town.

Watching the gold price go up and reading your take cracks me up.

The hard way I have learnt to just follow along behind the chart. Trying to run in front gets you run over.

Hi explod,

Not sure what you mean. The chart I posted was right before I went to bed, and I was making good trades from it through my own trading strategy. The last thing mentioned was "last chance for a bounce", and this occured. Sounds like a successful front run to me?

Very sorry you think I can't make charts to trade gold from, didn't realise because you think that the rest of us aren't allowed to post any bearish charts even if we were just using them to make excellent profits? I thought the rule was you accept everyone might have a different viewpoint from you and whatever works for them?

Your continued gold-buggish gold-bullishness just makes me more nervous. I honestly woud prefer to be proven wrong on gold in the long run. You forget we are supposed to be buying gold as a hedge. When it starts to do its job it is time to be nervous.

The fact is this move over the last week just pushes us further into resistance and further from any support. I would have preferred a retracement in the trading range (another chart which I used to profit from gold shorts without your permission) and a longer term consolidation.

Nevermind, since we are only allowed to post bullish charts here which confirm explods worldview (in which case it's fine to front run) here is the giant golden cup and handle

http://news.goldseek.com/GoldSeek/1234452025.php

How's that for a long term look Wysiwyg?

Gold +99999%, guaranteed by explod!

Tim_54321 · 19 February 2009

Uncle Festivus said:
I've seen an interesting trend developing on the ABC 7pm news lately where Allan Kohler totally ignores anything to do with gold, especially the AU price. At least the commercial stations show the US price even though it's most often wrong. I sent the ABC an email about it but deafening silence!

Just out of curiosity and to see if public pressure will change their attitude, you can contact them to ask them to show the gold price, especially in $AU, at the following -

http://www.abc.net.au/contact/contactabc.htm

I've noticed this as well.

The Australian had an article explaining the case for gold today.
http://www.news.com.au/business/money/story/0,28323,25076961-14327,00.html

kenny1703 · 19 February 2009

guycharles said:
We have seen the false start and the consolidation. Now that more and more people are starting to realise inflation is about to go nuts and that is good for Gold.

gold is not a best choice at this time.

Sean K · 19 February 2009

kenny1703 said:
gold is not a best choice at this time.

Thanks for the in-depth analysis kenny. Where do I sign up?

BentRod · 19 February 2009

Any relation to Page Kenny??:

Tim_54321 · 19 February 2009

I came across this video about hedging gold in non U.S. currencies. http://www.youtube.com/watch?v=YxSZFekFpBQ Do people think this is a good idea? If the USD tanks will the rise in the AUD hurt our gold profits or will gold rise so much that AUD gold price will still rise despite a strengthening AUD?

Gold Price - Where is it heading?

Bill M

Self Funded Retiree

electronicmaster

cuttlefish

Dangerous

Uncle Festivus

Glen48

Money can't buy Poverty

Ageo

sinner

Attachments

Wysiwyg

Everyone wants money

explod

explod

Wysiwyg

Everyone wants money

Attachments

Bill M

Self Funded Retiree

Trembling Hand

Can be found on the bid

Uncle Festivus

sinner

Attachments

Tim_54321

kenny1703

Sean K

Moderator

BentRod

ZZZZzzzzZZZZzzzzzzzz

Tim_54321

Similar threads

Gold Price - Where is it heading?

Self Funded Retiree

Money can't buy Poverty

Attachments

Everyone wants money

explod

Everyone wants money

Attachments

Self Funded Retiree

Can be found on the bid

Attachments

Moderator

ZZZZzzzzZZZZzzzzzzzz

Similar threads

Privacy & Transparency

Privacy & Transparency