Gold Price - Where is it heading?

[Chronos-Plutus]

Gold is due for a correction. Every tinpot company with an ASX listing is pegging rubbish tips and doing a bloody webinar.

Where the price goes is moot. Just go with it!

gg

I am happy it has corrected, I can buy more gold and silver now. A cheaper price doesn't deter precious metal investors, it encourages them to just buy more than they otherwise would have.

 

[over9k]

Gold is due for a correction. Every tinpot company with an ASX listing is pegging rubbish tips and doing a bloody webinar.

Where the price goes is moot. Just go with it!

gg

Yeah my DEG and MGV positions have taken it in the proverbial the last few days but they're also wildly volatile anyways.

Like I said, everyone are getting the jitters and there appears to be no end in sight to the stimulus stalemate, which is only contributing to the jitters further.

Gold was due for a pullback sometime though.

 

[Chronos-Plutus]

I bought a few more shares in EVN and GOR today.

I will buy some more physical silver in the coming weeks.

 

[wayneL]

I am happy it has corrected, I can buy more gold and silver now. A cheaper price doesn't deter precious metal investors, it encourages them to just buy more than they otherwise would have.

Yes.

Like I've said before I have been buying little bits through this little parabolic trend, just in case this retracement never came. But now I have my ears pinned back... Not a buyer of more yet but looking for the point where I think it is time to smash it.

 

[Chronos-Plutus]

Yes.

Like I've said before I have been buying little bits through this little parabolic trend, just in case this retracement never came. But now I have my ears pinned back... Not a buyer of more yet but looking for the point where I think it is time to smash it.

I will just keep buying into the pullback and correction in precious metal stocks and keep buying physical silver every few weeks.

I am not touching derivatives so I don't need to worry about the volatility or margin calls. I am playing the long game here.

And just make sure that I keep enough cash on hand to get through the rocky times ahead.

 

[over9k]

Same. I've rotated out of quite a few holdings lately. Sold gold off well over a week ago.


We might have a bit of green tomorrow, but something tells me that friday's going to have a big selloff if there's no stimulus announcement.

I'm mostly in ETF's now.

 

[Garpal Gumnut]

Yeah my DEG and MGV positions have taken it in the proverbial the last few days but they're also wildly volatile anyways.

Like I said, everyone are getting the jitters and there appears to be no end in sight to the stimulus stalemate, which is only contributing to the jitters further.

Gold was due for a pullback sometime though.

Yes.

Like I've said before I have been buying little bits through this little parabolic trend, just in case this retracement never came. But now I have my ears pinned back... Not a buyer of more yet but looking for the point where I think it is time to smash it.

I know how you both feel. I came late to penny gold stocks this time about, but the more I looked at it the more sleazy the operators became.

Gold does make men and women go mad. No doubt in my mind. It is a marvellous metal.

After my competition dart hit GED and it went from 2nd last to second place I was tempted to put a few kopeks on it. Thank gawd I held back and didn't. It's doing a raising I believe in a trading halt. As the song says " Easy come, Easy go ".

gg

 

[wayneL]

I know how you both feel. I came late to penny gold stocks this time about, but the more I looked at it the more sleazy the operators became.

Gold does make men and women go mad. No doubt in my mind. It is a marvellous metal.

After my competition dart hit GED and it went from 2nd last to second place I was tempted to put a few kopeks on it. Thank gawd I held back and didn't. It's doing a raising I believe in a trading halt. As the song says " Easy come, Easy go ".

gg

I think ultimately, reality will verify our madness.

 

[Dona Ferentes]

Gold is due for a correction.

.....rubbish tips ...

Good thinking, 99

 

[over9k]

Yeah, we have green futures after yesterday's bloodbath but something tells me the week isn't going to end on a high note if the stimulus logjam isn't broken.

 

[peter2]

So, I wasn't the only one buying gold producers today.

@Boggo Lots of nice abc corrections in the gold stocks.
Your MT predictor should be going crazy with them.

 

[Boggo]

...
@Boggo Lots of nice abc corrections in the gold stocks.
Your MT predictor should be going crazy with them.

Rather than scanning the lot regularly I tend to stick with a few that I "know".
EVN is one of those that I have some luck picking the turns and it has come up in the scanner as a prospect again.

EVN and the daily All Ords scanner below. (ignore the software date EVN top left - software issue)
I have also had a look at RSG, similiar pattern to EVN, rest I haven't looked at but generally 50% of them will be rubbish due pattern only without volume input.

(click to expand)

 

[over9k]

Prediction was correct - gold up a bit tonight. AUD pulled another ~0.25% against the USD though.

Don't hold gold in USD!

 

[explod]

With news getting about over the weekend that Warren Buffet is favouring gold stock over banks tells me there should be a substantial jump in gold this week.

https://www.business-standard.com/a...-bank-shares-bets-on-gold-120081500639_1.html

 

[Garpal Gumnut]

With news getting about over the weekend that Warren Buffet is favouring gold stock over banks tells me there should be a substantial jump in gold this week.

https://www.business-standard.com/a...-bank-shares-bets-on-gold-120081500639_1.html

Although.

If everyone from Kalgoorlie to Kabul has read of WB's pick, as they have, the opposite may be true.

Either way, a good week to pick up the Grubs of Gold Street for traders.

gg

 

[wayneL]

With news getting about over the weekend that Warren Buffet is favouring gold stock over banks tells me there should be a substantial jump in gold this week.

https://www.business-standard.com/a...-bank-shares-bets-on-gold-120081500639_1.html

I have some concerns regarding his pick, however, with reference to Marin Katusa's negative swap thesis... especially in the current geopolitical climate.

 

[SyBoo]

With news getting about over the weekend that Warren Buffet is favouring gold stock over banks tells me there should be a substantial jump in gold this week.

https://www.business-standard.com/a...-bank-shares-bets-on-gold-120081500639_1.html

The article failed to mention that;
"Warren Buffett’s Berkshire Hathaway (BRK.A) bought $1.73 billion of Bank of America (BAC) stock from July 20 through July 30...."

 

[qldfrog]

The article failed to mention that;
"Warren Buffett’s Berkshire Hathaway (BRK.A) bought $1.73 billion of Bank of America (BAC) stock from July 20 through July 30...."

Cheap bank stocks or gold when interest rate can only go up?
Looking ahead, the choice is clear
We can still have a gold surge in the coming weeks or on world events : Biden elected, war but medium term, it says sell on the economic outlook..
Anyone?

 

[wayneL]

Cheap bank stocks or gold when interest rate can only go up?
Looking ahead, the choice is clear
We can still have a gold surge in the coming weeks or on world events : Biden elected, war but medium term, it says sell on the economic outlook..
Anyone?

If Biden is elected, there will be an initial swoon, then everything with rip higher from even more unprecedented Money printing, including PMs and Crypto, IMO

 

[noirua]

Don't Get Shaken Off the Raging Gold & Silver Bull Market