Gold high spot price

[Pipers]

6 hours ago, DarkChameleon said:

Shadowstack is holding a mountain of silver as well as gold...he has as have most of us held silver while it's ratio has gone bananas, even newer horder shave seen 70-1 go to 91-1 .... holding isn't a,ways the greatest option, that ratio is unlikely to swing the same as golds rise or indeed silvers future rise ... is gold out performing silver or are investors selling silver to buy gold?.

 Neither you or me  knows how much a certain person holds! 🙂 

Anyway, I cannot see a reason to sell ready bought silver and IMO silver could be a good buy,  remember if this is a new bull market in Gold and Gold reaches $1550 -$1600 then the ones late in will look around for bargains and thats when silver and maybe (not sure) platinum will be bought, only time will tell if this is a bull market and my advise is to keep your hats on and buy sensibly do not over stretch in case gold gets smashed. 

    

[DarkChameleon]

11 minutes ago, Nick1368 said:

I agree with @HawkHybrid 

I just couldn’t sit back  and watch this high spot price and do nothing about it, I sold nearly 17oz of gold in the last 10 days and made a very good profit, but I am done selling now and keeping the rest of my stack, now I am going to relax and see what happens to spot price in the coming weeks.

In my opinion this is a win win situation for me because if spot goes lower, I will feel good about myself that i sold almost half of my stack and made a good profit and can again buy back whatever I sold at a much lower price in a few months time.

if spot goes higher I will be happy that the remaining half of my stack has gone up even more in value and I also made some good profit out of my other half of stack which I sold earlier.

 

you see I am from a business family and been brought up in a business environment all my life.

i have learnt the simple rule that if you buy something and someone offers you more money for that thing you should  sell it and take the profit without any doubt which Is why I sold half of my stack and am happy with the profit I made.

But people are different and different people have different ways of thinking and seeing things, for example my fiance, she has nearly 3oz of fractional Austrian gold coins, I also suggested her to sell all or some of her gold and explained to her that the price of gold is very high right now and if she sells she will make a good profit, she just gave me the simple answer that she doesn’t need the money therefore she doesn’t need to sell regardless of the price of gold at the moment.

 

 

 

My regards to your smart fiance, hope she doesn't think your actions mean you can't be trusted with the finances from now on...lol.

[DarkChameleon]

14 minutes ago, Nick1368 said:

I agree with @HawkHybrid 

I just couldn’t sit back  and watch this high spot price and do nothing about it, I sold nearly 17oz of gold in the last 10 days and made a very good profit, but I am done selling now and keeping the rest of my stack, now I am going to relax and see what happens to spot price in the coming weeks.

In my opinion this is a win win situation for me because if spot goes lower, I will feel good about myself that i sold almost half of my stack and made a good profit and can again buy back whatever I sold at a much lower price in a few months time.

if spot goes higher I will be happy that the remaining half of my stack has gone up even more in value and I also made some good profit out of my other half of stack which I sold earlier.

 

you see I am from a business family and been brought up in a business environment all my life.

i have learnt the simple rule that if you buy something and someone offers you more money for that thing you should  sell it and take the profit without any doubt which Is why I sold half of my stack and am happy with the profit I made.

But people are different and different people have different ways of thinking and seeing things, for example my fiance, she has nearly 3oz of fractional Austrian gold coins, I also suggested her to sell all or some of her gold and explained to her that the price of gold is very high right now and if she sells she will make a good profit, she just gave me the simple answer that she doesn’t need the money therefore she doesn’t need to sell regardless of the price of gold at the moment.

 

 

 

My regards to your smart fiance, hope she doesn't think your actions mean you can't be trusted with the finances from now on...lol.

[HawkHybrid]

1 hour ago, vand said:

You are only correct if you sell, the price falls, and you manage to buy back in at that lower price.

 

why are you obsessed with being right?

I'm trying to position myself to face an uncertain

future.

 

HH

[Goldmick]

Wow peeps its going up 

[Nick1368]

13 minutes ago, Goldmick said:

Wow peeps its going up 

Madness 😮

[Stu]

25 minutes ago, Goldmick said:

Wow peeps its going up 

Did we ever find out what was in your basket?

[Stu]

Aiming for £1132, all time great high. Not far off at 1124 currently.

[Goldmick]

11 minutes ago, Stu said:

Did we ever find out what was in your basket?

Ok it was 1/4 gold yale 

[Goldmick]

Nearly there 

[vand]

12 hours ago, HawkHybrid said:

 

why are you obsessed with being right?

I'm trying to position myself to face an uncertain

future.

 

HH

 

My ultimate goal is to build wealth; the research overwhelming shows that those who have done so get there through certain behavioral characteristics. A couple of key traits they overwhelmingly share are:

- They buy investments and hold them for long periods
They do not try to trade the wiggles, because they understand the big picture and understand the risks in trading short term. Most of them hold for periods of >5yrs

- The understand the important of asset allocation in managing risk
They diversify their wealth base, to provide steady growth and resilience, so they don't get the sweats if one of their holdings suddenly jumps 10% overnight. Most people on this forum hold far too much PMs in relation to other assets. This leads to suboptimal behaviour (overtrading) and is why people can't resist the temptation to bag a quick profit, because most of their eggs are in a single basket. Think about it this way, if you had 1% of your wealth in PMs, you would not give a fig about the recent price rise. OTOH if you had 100% of your wealth in PMs you would be awake at night agonising over how much you should be taking off the table. So the smart investor understands their own "sleep easy" point and the importance of asset allocation how much of any asset you should hold.

 

[goluckystayhappy]

The all time high in £ is not £1125 but a shade under £1200.

[Roy]

1 minute ago, goluckystayhappy said:

The all time high in £ is not £1125 but a shade under £1200.

Correct

[vand]

17 minutes ago, vand said:

 

My ultimate goal is to build wealth; the research overwhelming shows that those who have done so get there through certain behavioral characteristics. A couple of key traits they overwhelmingly share are:

- They buy investments and hold them for long periods
They do not try to trade the wiggles, because they understand the big picture and understand the risks in trading short term. Most of them hold for periods of >5yrs

- The understand the important of asset allocation in managing risk
They diversify their wealth base, to provide steady growth and resilience, so they don't get the sweats if one of their holdings suddenly jumps 10% overnight. Most people on this forum hold far too much PMs in relation to other assets. This leads to suboptimal behaviour (overtrading) and is why people can't resist the temptation to bag a quick profit, because most of their eggs are in a single basket. Think about it this way, if you had 1% of your wealth in PMs, you would not give a fig about the recent price rise. OTOH if you had 100% of your wealth in PMs you would be awake at night agonising over how much you should be taking off the table. So the smart investor understands their own "sleep easy" point and the importance of asset allocation how much of any asset you should hold.

 

 

[AuricGoldfinger]

Hopefully it breaks the all time $ high, thats the number to beat really, then we can reap the rewards with the £ being on its bum

[vand]

23 hours ago, goldmember44 said:

vand, you are absolutely right. I have learnt the hard way through trading in the past, and lost out big time by not sitting and holding my long positions to get the full benefit of market moves. No, I wanted to scalp the short-term movements... and I got hammered and lost the whole pot in the end. It's painful, but I've learned my lesson.

Yes, I have done likewise. It is experience that forges you into a better investor, and you only do that by first making every mistake in the book. It doesn't matter how much other people tell you about it or how often you read about what not to do; you need to go out there and rack up the experience and gutwrenching pain for yourself.

I remember buying £3000's worth of Easyjet shares for 1.20p back in 2004 when they heavily in the dumps. I caught the bottom to within a few pence. I did my due dilligence and everything and thought that it was a good value play. Evidently some others thought so too, because a couple of months later there was some bid speculation and the price jumped to £1.50 overnight. Of course, I sold, bagging a very quick 25% profit or so. This investing lark's easy, I thought. I then sat on the sides, unable to bring myself to buy back at a high price as the share price touched £8 within 3 years, and £18 within 10 years after that. 

Even now I still make mistakes, but I am learning and improving all the time. Nobody gets good in the game without getting their ass handed to them a few times. I am a slow learner.. but I AM a learner.

[HawkHybrid]

3 hours ago, vand said:

A couple of key traits they overwhelmingly share are:

all investors have capital, not all those with

capital make good investments. 

 

3 hours ago, vand said:

Think about it this way, if you had 1% of your wealth in PMs, you would not give a fig about the recent price rise. OTOH if you had 100% of your wealth in PMs you would be awake at night agonising over how much you should be taking off the table.

you use the extremes as examples. nobody

worth their salt are in these extremes. you

are talking about gamblers, don't use them

as a good example for investors/traders.

many are in pm's between 10 and 30% use

these realistic figures as an example.

 

instead of using theory based on unrealistic

scenarios try using some real historic data.

 

3 hours ago, vand said:

- They buy investments and hold them for long periods
They do not try to trade the wiggles, because they understand the big picture and understand the risks in trading short term. Most of them hold for periods of >5yrs

this is a moot point, by definition investors make

investments. traders make trades. investors make

money. traders make money. they just do so

differently.

 

you are not understanding my strategy.

during times of horizontal yo-yo I plan to

trade, as traders can make money in this

environment. during bull markets I plan to

buy and hold as that strategy makes the most

sense during bull markets. 

 

you are allowed to switch your strategy to better

suit the environment you find yourself in.

 

3 hours ago, vand said:

Most people on this forum hold far too much PMs in relation to other assets. This leads to suboptimal behaviour (overtrading) and is why people can't resist the temptation to bag a quick profit, because most of their eggs are in a single basket.

a person who has made the mistake of over

exposing themselves to pm's is precisely the

person who should take profits on this rise.

this is their opportunity to fix their mistake

(take their exposure back to better levels)

and hopefully learn from it.

instead of 'I am right, you are wrong' attitude.

why don't you help them to move forward?

 

the fix for a person that is over exposed to

pm's is not to keep holding. remember the

forum member who sold 8 ozs at monthly lows.

reducing exposure to a level that they can

manage was the right thing to do. people

who are over exposed is because they have

bought too much too soon. they need to sell

back towards a more suitable level of risk.

 

those over exposed to pm's are lucky to get

this rise. the right thing to do is to sell into it.

 

HH

[sixgun]

http://investmentresearchdynamics.com/gold-is-going-higher-but-brace-yourself-for-volatility/

This would suggest the usual market manipulating culprits will do a smash in the next couple of weeks.

[DarkChameleon]

3 hours ago, vand said:

 

My ultimate goal is to build wealth; the research overwhelming shows that those who have done so get there through certain behavioral characteristics. A couple of key traits they overwhelmingly share are:

- They buy investments and hold them for long periods
They do not try to trade the wiggles, because they understand the big picture and understand the risks in trading short term. Most of them hold for periods of >5yrs

- The understand the important of asset allocation in managing risk
They diversify their wealth base, to provide steady growth and resilience, so they don't get the sweats if one of their holdings suddenly jumps 10% overnight. Most people on this forum hold far too much PMs in relation to other assets. This leads to suboptimal behaviour (overtrading) and is why people can't resist the temptation to bag a quick profit, because most of their eggs are in a single basket. Think about it this way, if you had 1% of your wealth in PMs, you would not give a fig about the recent price rise. OTOH if you had 100% of your wealth in PMs you would be awake at night agonising over how much you should be taking off the table. So the smart investor understands their own "sleep easy" point and the importance of asset allocation how much of any asset you should hold.

 

I'd love to see the average results of day trades based on long holders.see if the quantity is better then the quality.....I know that my 401k got hit big time during the recession but not as bad as others as it was half invested in one great performing company that quickly reversed the loss...but now I'm  ostly conservative invested in it and have seem the dow go from 27000 to 24000 and only lost a couple of grand but as it rose back up gained much more..sometimes long beats short and sometimes going long turns you into a frightened investor

[DarkChameleon]

6 minutes ago, sixgun said:

http://investmentresearchdynamics.com/gold-is-going-higher-but-brace-yourself-for-volatility/

This would suggest the usual market manipulating culprits will do a smash in the next couple of weeks.

I think they have been doing exactly that for the last year or more, holding gold down and the dollar up...now the chickens have left the coop and they have to let some of that presume out of the tires...I think the downward presume will kick in again at $1450...it won't be as easy to pass as $1400 was.

[sixgun]

9 minutes ago, DarkChameleon said:

I think they have been doing exactly that for the last year or more, holding gold down and the dollar up...now the chickens have left the coop and they have to let some of that presume out of the tires...I think the downward presume will kick in again at $1450...it won't be as easy to pass as $1400 was.

This is a US centric report. The ability to suppress price weakens every time - every time they bash the price down physical leaks out and there is less and less of that available. Price can only be suppressed as long as there is sufficient physical for those who demand physical in their own possession and will not go away.

[Abyss]

@vand @HawkHybrid irony is that you both right depending on the individual who is speculating/investing and their goals and objectives.

I have my net worth split into different parts to achieve different objectives and goals

45% rotates Indian government bonds/Nifty 50 Index - goal retirement pension pot all else fails safety net objective 7-12% growth per year

40% UK rental properties - goal replacement salary any future recessions lose your job/partner job objective protect our standard of living

6% Physical PMs - Insurance policy, 4% cash waiting PM prices go lower and release next QBs

5% Broker accounts - goal pure speculation trading the squiggles - objective double account every year

You don't need to be overly leveraged in PMs to keep an eye out on the price on daily basis. Irony is you can have physical Gold and be short futures Gold at the same time because of different objective and goals. I don't talk about trading that often but anyone asks me I always ask the question can two different people be long and short at the same time on the same financial instrument and both make money? Amazes me that so many people just don't know how to answer that question which is a clear sign that I speaking with the wrong target audience and no longer continue conversation. The answer is yes depends on the time frame and when the individuals exited their position.

Short term speculation, long term investing both have their place in the "ultimate goal is to build wealth".

[goluckystayhappy]

'objective double account every year'

 

That is a pretty lofty goal.😁

[DarkChameleon]

4 minutes ago, sixgun said:

This is a US centric report. The ability to suppress price weakens every time - every time they bash the price down physical weaks out and there is less and less of that available. Price can only be suppressed as long as there is sufficient physical for those who demand physical in their own possession and will not go away.

Question ... are you seeing more adverts for selling gold or buying right now?...the dealers don't like to sell if they think it's going up,they don't like to buy if it's going down..my dealer just went on vacation for the week, that says a lot, he thinks it's not a good week to be buying gold, his scrap buyer comes once a week, I don't buy enough to matter whether he's open or not..Ive talked to him and he sees $1500 coming quickly then off to the races, I'm not so sure it's going to be that quick...but I do think we in America printed so much money that we have to make it look as though it's still enticing or I flatiron will kick us in the ass and market manipulation is the only way to do it hense the presure on the fed...we need people to crack,open their wallets and purses and buy homes, even at record low interest rates and 1% down...they are not buying quick enough to put confidence in the dollar...jewelry sales are down big time, when shops would sell multiple high cost pieces per day they are now selling one or two a week...the money's out there but nobody is spending it...when thempublic, even the rich public don't see rosy skies it's good for gold and silver but storms for everyone else.

[sixgun]

1 minute ago, DarkChameleon said:

my dealer just went on vacation for the week, that says a lot,...

Yes it does say a lot - it's the summer holiday time - have school broken up for summer? When did he book his holiday? Last January maybe?

3 minutes ago, DarkChameleon said:

Ive talked to him and he sees $1500 coming quickly then off to the races,

Well the racing at Ascot has been pretty busy. Would the dealer say.... price is going to be smashed to hell? Dealers are generally bullish.

5 minutes ago, DarkChameleon said:

we need people to crack,open their wallets and purses and buy homes, even at record low interest rates and 1% down...they are not buying quick enough to put confidence in the dollar...

Inflation is a 10% - Unemployment over 20% - Personal debt levels at record levels - most folks do not have enough to cover even minor emergencies - i suspect there are only moths and tatty business cards inside their wallets. The masses are spent up.

What happens in La La Land on Wall Street is not the real world - there will be attempts to smash the price - they may achieve this - they may fail. Certainly your dealer won't know.