The physical gold I own is in collectibles, so I own them irrelavent to what gold prices are. The Ishares I own are for balancing my portfolio, at the recommend percentage, to protect myself against inflation. I own them irrelavent to what gold prices are. I am not a day trader in PM's, so it's irrelavent to me what gold prices are. This way it prevents bear and bull markets from causing personal concerns to me. However, it is fun to watch and just speculate on. I love it when it goes up and everyones' private "cash register" rings.
I love when PM prices fall and people say it doesn't matter in the long run. If gold falls 10% in one month and you purchased right before that drop, you could have waited to get 10% more gold for your money. Isn't that around 5 years of inflation? See you at $1,300!
The long term trend line for the gold bull market currently sits at approximately 1515. If gold closed below that level for, say, three days in a row, then one would have to question whether or not the bull market is over. But bull markets don't end because of a poll of market participants and spectators.
The people in those articles never provide a decent rationale for why gold goes up or down. Charts, reading chicken entrails, etc. won't provide any guidance because gold in the short term can be easily manipulated by certain players who have a vested interest in keeping up confidence in the interests of the status quo. Oh, and for making a fast buck. Gold dropped in December because the central banks drop the gold lease rates dramatically a couple of times over a several day period. in essence they were paying the big banks to lease gold from them. You can check these charts yourself on kitco. Then banksters then turn around and sell this paper gold on the market and thus it causes the prices to fall. It always retracts because in the end, the central bankers will not actually release the physical gold. The rates have since be raised back into positive territory. Welcome to the paper gold game. A game created in the 80s to increase the supply of gold well beyond the physical.
I am very similar, except I hedge with physical holdings I acquired 20 years ago. Other than those, and a stray piece I get from a lot, I am not adding or subtracting from.
That's why ya gotta know when to buy and sell. Glad I sold my gold ring when I did but I didn't sell everything and I actually see this so called bear market as an opportunity to buy. If you're scared raise your hand! Oh, guess you did son, guess you did. j/k
Upon discovering I bought 5 sets of the 25th ASEs my wife said either a buffalo or the ASEs must go. So I took a $800 profit in early December on the buffalo. In five years I'll know if I made the right decision keeping the OGP ASEs. Now if gold falls to 1300, I would be smart to buy it back.
I would have dumped the 5 ASE sets and held the fiats and picked up an ounce of gold and hold for a further drop and pick up another ounce or 2 but to each their own. :smile
Gold bull market still intact - technical analysis: http://www.mineweb.com/mineweb/view/mineweb/en/page103855?oid=141839&sn=Detail This article makes sense to me.
PMs don't exist it a world of their own. their action is tied into all the other markets/economys. right now it looks like the world is headed for a downturn and deflation. that makes cash the thing people go to. I think the 1st qtr will see PMs trend downward and then govts. will be forced into more QE. the bull market is not close to over but that doesn't mean you can't get gold cheaper in a bit. anyway I'm waiting and building cash for a while.
I could make you all rich if I told you when to buy or sell....I live about 70 miles from the place I buy gold and only go that way once every 3-4 months and it's always on a weekend, it's guaranteed that either the Friday before I go gold goes up or the Monday after I go gold goes down....I think in the right hands you could get rich if I told you on Thursday I was taking my gold buying trip.
