To be fair AppyAddick, the daily and weekly charts have turned bullish on gold.
My reservation with gold,and other popular markets, however, is there are so many spivy "Guru's" out there trying to flog their software, newsletters etc to make a living, instead of trading markets themselves, I prefer to let the charts tell which direction things are going.
Good luck!
Old Stock Market saying "Where There's a Tip There's a Tap"
Was it not upto $1500 at one point ? buying gold will always be a no brainer, So we are hardly getting tips from the wolf of wall street here....just depends how long you can sit on it for
Was it not upto $1500 at one point ? buying gold will always be a no brainer, So we are hardly getting tips from the wolf of wall street here....just depends how long you can sit on it for
About $1900 momentarily. At around the time we were last being strongly advised to buy! (I won't name and shame - you know who you are!) So the no brainer you are referring to might well have cost people around 30% of their money....
Personally, I don't think we're back in a strong market for gold, it's just a bit of price correction.
Buy cocoa. On account of the looming chocolate shortage. Brown gold.
This Xmas I've gone for having my gold money wrapped in chocolate not the other way round....
Randolph Duke: We are 'commodities brokers', William. Now, what are commodities? Commodities are agricultural products... like coffee that you had for breakfast... wheat, which is used to make bread... pork bellies, which is used to make bacon, which you might find in a 'bacon and lettuce and tomato' sandwich.
Randolph Duke: And then there are other commodities, like frozen orange juice... and GOLD. Though, of course, gold doesn't grow on trees like oranges.
Randolph Duke: Clear so far?
Billy Ray: Yeah
Randolph Duke: Good, William! Now, some of our clients are speculating that the price of gold will rise in the future. And we have other clients who are speculating that the price of gold will fall. They place their orders with us, and we buy or sell their gold for them.
Mortimer Duke: Tell him the good part.
Randolph Duke: The good part, William, is that, no matter whether our clients make money or lose money, Duke & Duke get the commissions.
Mortimer Duke: Well? What do you think, Valentine?
Billy Ray: Sounds to me like you guys a couple of bookies.
Was it not upto $1500 at one point ? buying gold will always be a no brainer, So we are hardly getting tips from the wolf of wall street here....just depends how long you can sit on it for
About $1900 momentarily. At around the time we were last being strongly advised to buy! (I won't name and shame - you know who you are!) So the no brainer you are referring to might well have cost people around 30% of their money....
Personally, I don't think we're back in a strong market for gold, it's just a bit of price correction.
Buy cocoa. On account of the looming chocolate shortage. Brown gold.
This Xmas I've gone for having my gold money wrapped in chocolate not the other way round....
You only replied to half my comment, I did say it depends how long you can afford to sit on it.
Was it not upto $1500 at one point ? buying gold will always be a no brainer, So we are hardly getting tips from the wolf of wall street here....just depends how long you can sit on it for
About $1900 momentarily. At around the time we were last being strongly advised to buy! (I won't name and shame - you know who you are!) So the no brainer you are referring to might well have cost people around 30% of their money....
Personally, I don't think we're back in a strong market for gold, it's just a bit of price correction.
Buy cocoa. On account of the looming chocolate shortage. Brown gold.
This Xmas I've gone for having my gold money wrapped in chocolate not the other way round....
You only replied to half my comment, I did say it depends how long you can afford to sit on it.
People usually invest in gold when the economy is not good, the housing market is bad and the Stock Market is on a bear run. Gold is considered to be a 'safe' investment.
In the States over the past few years these "we will buy your gold" stores sprung up all over the place because of the bad economy. Nowadays those stores are just all folding up because the economy (in the States anyway) is so robust. So, on the evidence of that, I would say that there isn't a new Bull Market in gold going on. Wait for the next recession and then you'll see it again.
Comments
My reservation with gold,and other popular markets, however, is there are so many spivy "Guru's" out there trying to flog their software, newsletters etc to make a living, instead of trading markets themselves, I prefer to let the charts tell which direction things are going.
Good luck!
Old Stock Market saying "Where There's a Tip There's a Tap"
Was it not upto $1500 at one point ? buying gold will always be a no brainer, So we are hardly getting tips from the wolf of wall street here....just depends how long you can sit on it for
Personally, I don't think we're back in a strong market for gold, it's just a bit of price correction.
Buy cocoa. On account of the looming chocolate shortage. Brown gold.
This Xmas I've gone for having my gold money wrapped in chocolate not the other way round....
Randolph Duke: We are 'commodities brokers', William. Now, what are commodities? Commodities are agricultural products... like coffee that you had for breakfast... wheat, which is used to make bread... pork bellies, which is used to make bacon, which you might find in a 'bacon and lettuce and tomato' sandwich.
Randolph Duke: And then there are other commodities, like frozen orange juice... and GOLD. Though, of course, gold doesn't grow on trees like oranges.
Randolph Duke: Clear so far?
Billy Ray: Yeah
Randolph Duke: Good, William! Now, some of our clients are speculating that the price of gold will rise in the future. And we have other clients who are speculating that the price of gold will fall. They place their orders with us, and we buy or sell their gold for them.
Mortimer Duke: Tell him the good part.
Randolph Duke: The good part, William, is that, no matter whether our clients make money or lose money, Duke & Duke get the commissions.
Mortimer Duke: Well? What do you think, Valentine?
Billy Ray: Sounds to me like you guys a couple of bookies.
Randolph Duke: I told you he'd understand.
You only replied to half my comment, I did say it depends how long you can afford to sit on it.
In the States over the past few years these "we will buy your gold" stores sprung up all over the place because of the bad economy. Nowadays those stores are just all folding up because the economy (in the States anyway) is so robust. So, on the evidence of that, I would say that there isn't a new Bull Market in gold going on. Wait for the next recession and then you'll see it again.