PMGOLD - Perth Mint Gold ETF

[Sean K]

@Sean K

I have never had a run like this (touches head) and I'm either going to keep it as is now without adding. Between the bar well hidden and PMGold in the SMSF I'm happy and strangely not delirious.

I had followed the mainstream of spreading the risk among assets and was driven to distraction with less than average results. Four years ago ( about a year after I gave up the grog ) I looked at markets and decided that Gold here and IT/IT connected in the US were the way to go. So listen to your uncle Garpal all beginners, don't drink and don't spread your risk. btw I had a marvellous 55 years on the grog, enjoyed every drop but others didn't.

Enough of self disclosure. This page will turn and some archeologist will find a hard drive in 1000 years time and read this. The page will turn and Gold and IT will probably go to crap and I'll be still ok.

gg

The only thing comparable for me was the uranium bull from 2004/5, which was pretty nuts. That was quite a ride. But, the increase in POG hasn't transferred into the junior PMs which is a bit different. I was expecting anything with gold or silver in its name to go off. I was also expecting some other meme companies to change their name to 'XYZ gold' or such, which hasn't happened yet. Maybe the taxi drivers' focus is still on digital coins, etc.

 

[Garpal Gumnut]

The only thing comparable for me was the uranium bull from 2004/5, which was pretty nuts. That was quite a ride. But, the increase in POG hasn't transferred into the junior PMs which is a bit different. I was expecting anything with gold or silver in its name to go off. I was also expecting some other meme companies to change their name to 'XYZ gold' or such, which hasn't happened yet. Maybe the taxi drivers' focus is still on digital coins, etc.

I would hazard a guess that with your ( and some other members of ASF ) knowledge of producing and exploration PM companies that it becomes just a matter of time before they show some significant moves up. The moves are often multiples of the POG and other precious metals. Australia is such a significant Gold exporter that profits will come eventually ( or even tomorrow ! ). Who knows?

The good thing is that now with ETF's and forums such as ASF the pump and dump or buy and hold is less prevalent by the established brokers and you have a similar chance to advisers of picking the move correctly.

It is a shame that there is not an ETF on ASX like the small miners GDXJ on the NYSE. That would be ideal for me.

gg

 

[qldfrog]

I would hazard a guess that with your ( and some other members of ASF ) knowledge of producing and exploration PM companies that it becomes just a matter of time before they show some significant moves up. The moves are often multiples of the POG and other precious metals. Australia is such a significant Gold exporter that profits will come eventually ( or even tomorrow ! ). Who knows?

The good thing is that now with ETF's and forums such as ASF the pump and dump or buy and hold is less prevalent by the established brokers and you have a similar chance to advisers of picking the move correctly.

It is a shame that there is not an ETF on ASX like the small miners GDXJ on the NYSE. That would be ideal for me.

gg

On the last sentence, that was my exact feeling a couple of months ago and o ended up going to the US version
We should tell global X

 

[Garpal Gumnut]

A drop in PMGold is anticipated with the retracement overnight, on considerable volume to just where $US Gold was 3-4 days ago.

At present rates and POG from the end of the NY Globex session I'd expect PMGold to open around about $41.60. Fortunately the strengthening $USD will cushion some of the fall.

Will buyers come in or is this the beginning of a further retracement. I have no idea.

gg