great - thanks Explod. sorry not sure I follow, probably just me being thick - but what would you offload for?
Gold Price - Where is it heading?
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great - thanks Explod. sorry not sure I follow, probably just me being thick - but what would you offload for?
explod
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Well this is a gold thread, but silver is in the family as bullion. Silver is my choice. But if you want a view, go to the silver thread, just search under "Silver" and back a few posts play the take on silver by Robert Kyosaki, I agree with his take and what he sayds is fairly comprehensive
So you'd offload gold for silver?
Kyosaki was very hot on property I believe, said it couldn't fall and he had some pretty convincing arguments around that as well - shame about the US property market but I guess if you're in early with any bull market its not an issue eh
explod
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Yes he was and made most of his money at one stage from it, he also did it with taking on run down businesses and building them up, whatever in the right cycle, the cycle has changed further and he is another who has gone with it to gold and silver.
In one of his earlier books he made it clear that those working on wages were at a big disadvantage because they did not have time to contemplate the big picture and to research properly the ways in which one can make money by you own effort for yourself. A lot are critical of him and say he is just a book seller. Maybe, but his fundamental business teaching is a great yardstick IMHO
Interesting,,,I hit on the gold/silver trend before he did but it was a lot of his teaching that made me look at it in the first place as a possibility.
We need to be our own advisers and stand on our own feet and all you can learn in this direction will make you independent of others.
Bit off topic here, but good luck on your journey.
I would hold gold and add on silver, I think there are a few years to accumulate left whilst the metal is about, getting hold of it is going to be the problem soon IMHO.
Yes interesting Explod. When you speak of investing in gold or silver i presume your refering to commodities & not companies mining it?
Wysiwyg
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Got an e-mail from a company flogging gold bullion today. Their 5 gram gold bar was for $260.00 while 5 grams of gold at present spot price is $204.00. 
If the price pulls back somewhat from here then I know who to NOT remember.
If the price pulls back somewhat from here then I know who to NOT remember.My take on gold after last weeks price action,
After Fridays sell-off at the 1180 level, Alot of ppl are a bit hesistant pushing gold above the 1180 mark. Immediate Resistance - 1180, Support - 1150. After the great run that golds had, I'm expecting some consolidation / sideways movement for the month of December and price breaking above the 1200 early next year. Good time for gold to consolidate. Gold has run hard the last 2 months and I think it needs abit of a breather. I'm going to trade range-bound for December. (Long at around 1150 and close at around 1180. But NOT going to short due to the upside breakout risk).
Hitmanlam
After Fridays sell-off at the 1180 level, Alot of ppl are a bit hesistant pushing gold above the 1180 mark. Immediate Resistance - 1180, Support - 1150. After the great run that golds had, I'm expecting some consolidation / sideways movement for the month of December and price breaking above the 1200 early next year. Good time for gold to consolidate. Gold has run hard the last 2 months and I think it needs abit of a breather. I'm going to trade range-bound for December. (Long at around 1150 and close at around 1180. But NOT going to short due to the upside breakout risk).
Hitmanlam
explod
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Yes the physical in the hand is to what I refer. Having said that the right gold stocks will have a great run as gold increases in value in AUD, that has occurred in the last month if you check the charts and of course gold stocks are going with that.
A simple formula, if a gold company is prducing at a cost of say $600 an ounce and selling at say 800, then we have an increase in price to 1000, then profit has increased by 100% in the first instance and so on. With a gold price going up a great deal we can have considerable leverage. That is of course if the company, and some do, are not forward selling which can be very negative. But as gold has been rising steadily the last few years most of the good Australian companies have got out of forward sales.
From 1970 when gold was US$35 an ounce to the blow off top of US$800 in 1980 some gold producers went up in price 100 times. So the gold investing/trading scenerios are well worth some study. If you Google on the history of gold and follow those leads to do a bit of research it may pay you well.
Got an e-mail from a company flogging gold bullion today. Their 5 gram gold bar was for $260.00 while 5 grams of gold at present spot price is $204.00.
Its called a spread as i have mentioned before they have blown right out. Because of high volatility merchants/refiners are very cautious.
Wysiwyg
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That would have been me selling at the US$170 mark and missing the "big" run up. Wonder if similar will occur this time. I suppose the gold bugs would be looking for US$1500 + as a target.
explod
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I suspect a bit of a set up here Wysiwyg but I cant' help myself on a few reds. I have trotted this out about four times now on this thread, but who will read back that far.
The price of the 70's from $35 to $800 is a multiple of 23 to 1. This bull market which began at its bottom in 2001 started at $260, if we multiply that by 23 we have a projection of $5,900 by 2011. Some economists are also saying that it may blow out greater than that.
Time will tell, but worth pondering
Got an e-mail from a company flogging gold bullion today. Their 5 gram gold bar was for $260.00 while 5 grams of gold at present spot price is $204.00.
5g is $253 at the mint currently:
http://www.perthmint.com.au/metalPrices.aspx
$260 isn't a great price, but it's not far off what most are charging.
I can supply at todays prices a 5 gram bar between $240-$250 from any bullion house.
>Apocalypto<
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Hey explod even I was long Gold yesterday afternoon!
Sean K
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When the US really implodes and the market inevitably falls over again, is there a chance our gold stocks will disconnect and tread their own path according to POG? They all seemed to be crucified just as much during the last panic sell-off, some explorers even more. Next time different? Or?
kennas, good point you raise and I have been thinking about it plenty myself.
Is ANY stock safe from overnight huge sells of the index futures? That is the crux of the issue here, if there is a panic selloff it will not be of individual equities, it will be in the index futures. How can you protect against that? You can't.
4-8% markup on small amounts that is good value.
Kennas not really because gold companies are still exposed to other factors such as political, currency and other global things. In saying that it would be wise to hold both gold stocks and physical.
Things havent stopped here kilos are just pouring in at the moment "its raining gold"
My scale loaded to the max with a part batch.
click to enlarge
Sinner whatever the major bullion companies are supplying at i either match or do better.
But sometimes people just feel happy to deal with large companies like perth mint etc...
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