Sold all my Gold

[Goldmansacks]

All very fishy fishy,and also agrees with Wonger as well on the thread of the Universe...

[mr-dead]

a quick admin i.p check would resolve it unless he had the intelligence to use a vpn for additional accounts.

[Eco]

3 hours ago, StackerCollector said:

My pm are protecting me from the possible scenario of a hyperinflation. Yes, sometimes cash is king, but looking at the current world affairs I will never let go of my pm unless I can trade them in for the real estate I am after.

You see what people what people dont understand is we have already had massive inflation. Its showed itself in assets, particularly stocks, but also property and gold. 

Governments are trying to push people more and more into these assets because its the only thing they can do to sustain the debt driven society they created. They are creating this myth that they are going to inflate currency, they have no ability to do that.

So much of the "currency" that exists in the world isnt real. Its debt, its inflated stocks that are no "valued" way beyond the companies actual worth. Once companies start failing and debts have to be written off by countries, people and companies, all this currency disappears into thin air. We are left with a world that is actually drastically short on currency. Once the collapse happens its currency that will rocket. Something like Gold is no good to anyone, its value is on the way up to this bubble when debt and fake value is being created and "currency" supply seems endless.

[cravethatcoin]

You could be right. I sold about 30% of my gold at a 35% profit with the belief that prices would come down again. But held onto most of my stack incase they don't. Short term it was the wrong move as gold has gone up £100 above my sale price since then but who knows what will happen in a few months to a year.

 

[silverin]

Wish it would go lower so that I can buy more.  I've been waiting a while! 😂

[FoolzGold]

10 hours ago, silenceissilver said:

I'm a bit confused, why did the "got stung" part disappear?

 

I thought it was that old thread being resurrected again too. Whenever I think I did something really dumb I always look back on that thread and think - okay, it was dumb, but not as dumb as what that guy did.

[vand]

https://acquirersmultiple.com/2017/08/reminiscences-of-a-stock-operator-men-who-can-both-be-right-and-sit-tight-are-uncommon/

 

Quote

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.

 

Remember the emboldened quote when, one day, you look at the price of gold and silver and wish that you hadn't been so hasty to take small profits.

[KRO]

14 hours ago, Eco said:

 

I know, I know. We are always told that in financial trouble stock up on gold. This is what they want you to think. Everyone is rushing out into stocks or gold thinking cash is too dangerous. The reality is that cash is going to be the safe haven in the pending deflation that will cripple economies. Alarms bells began to ring when I was reading about all the new Robinhood investors. Then, about 3 months ago my friend who never had a single thought of investing in anything other then his saving account told me he was buying some gold and asked for advice. Now alarm bells were ringing loud. I began to hear others talking about Gold. I know from my long experience this is the sign of the end of a bubble. Trusting my instincts made me a lot of money in the crypto boom when I got out in time to make a lot of money.

 

taking this thread at face value, which is probably a huge mistake😀

I have to strongly disagree with your opinion that this is the sign of the end of a bubble
In fact , whilst the price may correct slightly, at various times
I would say that the bubble has not even started to form yet

I often look at Robintrack.net, which allows you to see where the Robinhood traders are investing
First bear in mind Gold unlike leading shares is a very tightly traded market
As of yesterday Robinhood holders of SDPR (GLD) the leading Gold ETF amounted to only 29,000 holders of shares
the 249th most popular holding 
Compare this to TESLA with 527,00 holders at number 8
Now imagine in a tight market if the Robinhood holders increased tenfold (as in a bubble)
and see what that would do to the price of Gold

[Goldmansacks]

How can cash be a safe haven when it's getting printed like there's no tomorrow?,you can't print Gold.

[r1lee]

43 minutes ago, Goldmansacks said:

How can cash be a safe haven when it's getting printed like there's no tomorrow?,you can't print Gold.

it's the initial fear of selling your assets to cover debt or margin calls.  So therefore the USD becomes a safe haven, temporarily <-- not sure how long. But this is a typical scenario in all previous crashes, even going back to Black Monday.  

[Eco]

4 hours ago, silverin said:

Wish it would go lower so that I can buy more.  I've been waiting a while! 😂

Heres the thing, its going to be difficult for me to watch any further small rises.

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

[HGr]

1 minute ago, Eco said:

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

Fingers crossed, eh?

[Jcollet]

1 hour ago, vand said:

https://acquirersmultiple.com/2017/08/reminiscences-of-a-stock-operator-men-who-can-both-be-right-and-sit-tight-are-uncommon/

 

 

Remember the emboldened quote when, one day, you look at the price of gold and silver and wish that you hadn't been so hasty to take small profits.

One of the best books ever written

[Aknot]

41 minutes ago, Goldmansacks said:

How can cash be a safe haven when it's getting printed like there's no tomorrow?,you can't print Gold.

Ignorant question/statements incoming please be gentle....

While you cant print Gold what is the probability that someone knows how much gold is in the world (think under the ocean bed).... on the moon or other planets that would/could be harvested? Or the level of effort to get it? (silly but Ive seen movies where it happens! )

"Figuring out how much gold remains to be mined is still tricky, though. We do know that gold makes up about four parts per billion of the earth’s crust. What we don’t know, however, is precisely how much gold is still out there."

"Observations from telescopes suggest that Psyche is mostly made of nickel and iron, but Abbud-Madrid said a visiting spacecraft could also find that the space rock is abundant in metals that are even more valuable — such as gold and platinum."

How do we think Gold became valuable?

Well its because (originally?) "The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn't corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth."

And:  "countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price."

BUT the Gold fluctuates because "Supply, demand, and investor behavior are key drivers of gold prices." and "Multiple factors determine the price of a gold futures contract: the spot price of gold; the predicted changes in supply of and demand for the precious metal; the estimated cost of transporting and storing the physical gold; and the risk-free rate of return for the holder of the gold."

And how do people buy gold? Usually with paper money (or imaginary paper money).

So if tomorrow someone found a mine that theoretically could double what we KNOW is out there (or could mine an asteroid/planet at a low cost?) what happens to the price of gold? What happens to the paper money? What happens to Nations economies?

We dont know what we dont know. So yes to a degree you could "print" (find more) more gold. What we have now is "X" amount of Gold and the probability of "X" amount of gold being left. And as such it is being priced that way. Nothing more nothing less.

Its unlike like a Michael Jordan Rookie card as there are only so many out there. No more can be made. So the price is high. Gold we speculate how much is there or can be obtained (no it cant be made yet...can it?) so its valuable.

Will any of this happen? I got no clue. Heck im still waiting for proof of Alien life and Bigfoot.... but it COULD happen.... just like it couldnt.

Sorry for the ramble...

 

[Roy]

8 minutes ago, Eco said:

Heres the thing, its going to be difficult for me to watch any further small rises.

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

Can you leave the forum now please?

You have nothing more to say.

[Aknot]

@Roy Love the sig line "Technically, alcohol is a solution.."

[r1lee]

this is what is keeping gold prices suppressed.  Just like the stock market is forward looking, the gold futures market is also forward looking on when we can grab this and mine it.

 

https://www.foxnews.com/science/nasa-headed-towards-giant-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire

 

 

[Aknot]

1 minute ago, r1lee said:

this is what is keeping gold prices suppressed.  Just like the stock market is forward looking, the gold futures market is also forward looking on when we can grab this and mine it.

 

https://www.foxnews.com/science/nasa-headed-towards-giant-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire

 

 

Touched on that earlier but as I understood it it MAY contain rare/precious metals. They know its iron and could be a chunk of Iron. There is no indication at this time that is has Gold (or other PMs).... that I know of officially.

They wont know until they get there.

[KDave]

@Eco 

If you have made a profit from your metals and are investing in other opportunities, good for you, in this case you think cash is the opportunity? I have heard this recently and it has merit. Yet there is a fine line between investing in an opportunity, and moving into cash out of panic. Panic is not good. Panic is the enemy. After 15 years of gold investment, I am surprised you are not a hardened veteran and immune to panic, and indeed immune to influence from social media including Reddit of all places! Reddit is a Marxist cesspit of censorship, which has nothing to do with this, but it had to be said. 

I have sold some of my gold investments recently to move into what I think is another opportunity (silver and oil). I think this was a good move, its not looking so right now, but time will tell. But I would never sell all of my gold and physical would be the last part of the position to go. It looks like you are taking a 100% position against gold in anticipation of buying back in lower - I would argue this is not investing. You clearly like gold as an investment, but have chosen to trade the gold price using 100% of your core position. As vand says, you may find you can never get back into gold at a lower price, so the real question to ask yourself is, Are you content to be 100% wrong? 

(I don't believe you are wrong, but I could be wrong too, yet I will be less wrong than you if we are both wrong )

[Goldmansacks]

37 minutes ago, Eco said:

Heres the thing, its going to be difficult for me to watch any further small rises.

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

Eh,are you related to Wonger?🤔😳

[HawkHybrid]

1 hour ago, Eco said:

Heres the thing, its going to be difficult for me to watch any further small rises.

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

 

you should keep your emotions away from trading. work out the reasons when you want

to buy/sell and stick to them. if you get it right/wrong make a note of it and use that data

to improve your technique for next time. there is no shame in taking profits.

'sometimes, feeling very wrong in a trade, turns out to be the right trade'

I wouldn't choose to aggressively go all in/out every time I want to reposition myself, but

that is down to personal tolerances for risk.

cash is a position(and a learning curve).

 

HH

[SilverPirate007]

Seems silly selling precious metals. Just make more cash and accumulate it separately!

[Eco]

1 hour ago, Roy said:

Can you leave the forum now please?

You have nothing more to say.

I just came here. Dont you want to learn from me.

[Eco]

41 minutes ago, HawkHybrid said:

 

you should keep your emotions away from trading. work out the reasons when you want

to buy/sell and stick to them. if you get it right/wrong make a note of it and use that data

to improve your technique for next time. there is no shame in taking profits.

'sometimes, feeling very wrong in a trade, turns out to be the right trade'

I wouldn't choose to aggressively go all in/out every time I want to reposition myself, but

that is down to personal tolerances for risk.

cash is a position(and a learning curve).

 

HH

Usually I agree. 

But these are extreme times and emotions should be embraced. They are a signal.

[SilverPirate007]

2 hours ago, Eco said:

I just came here. Dont you want to learn from me.

Ignore him is best

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Added 0 minutes later...

11 hours ago, mr-dead said:

a quick admin i.p check would resolve it unless he had the intelligence to use a vpn for additional accounts.

A VPN will not shield his ID from the forum admins