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1 hour ago, Paul said:

My fool proof strategy for buying precious metals is only buy on days of the week that end in a  "Y" 

I play a 'reverse drinking game' where every time I have a beer I have to buy a coin. Once a month (otherwise postage would be crazy!) I tot it up and order a few kilos of silver. If I go over 2 kilos I have to buy some gold too  :huh:

Edited by kimchi

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1 hour ago, vangbacgiabao said:

Oh tks you! I will learn it :)

Okey i want to give you also a serious reaction. I cannot help it, but i think you're still very young (i'm sorry if not). The first thing you need to know is that you can never fully predict what the price of silver or gold will do. But, some things that happen in the world can give you some kind of indication. Follow the news and see how the gold value reacts on it. After some time maybe you will know when the time is right to buy some gold and when you have to hold your horses. Asking a question as you did now, if gold is going to go up or down in the coming week is the same as asking 'will it be warm or cold next week'. It can be both and nobody knows in front. Hope this helps a little bit. ;) 

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It is nearly impossible to predict the price of gold accurately, particularly on a short timescale.

Technical analysts are fond of drawing lines on charts and saying this pattern indicates such and such, but patterns can usually only be recognised after the event. Such analysts tend to say that *if* the price goes up and breaks this resistance level it will continue to go up, and *if* the price goes down and breaks this support level it will continue to go down, and *if* it does neither then it will remain within a channel. Of course this is of no use whatsoever because all possibilities have been covered. It just amounts to saying the price will rise, fall, or stay about the same, which we knew already.

Fundamental analysts identify considerations such as rising demand, falling production, rising interest rates, rising inflation, investor risk appetite, geopolitical uncertainty. These have the benefit of being tangible causes of price movements, but they are of  little use in timing price moves. Maybe gold is undervalued by all kinds of measures, but who is to say it cannot remain undervalued for a long time or go down even further?

The best thing to do with gold itself is treat it as insurance rather than as a speculative investment. Own as much as you reckon it would be helpful to have in the event of a financial collapse and hope you never have to use it.

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48 minutes ago, Bumble said:

It is nearly impossible to predict the price of gold accurately, particularly on a short timescale.

Technical analysts are fond of drawing lines on charts and saying this pattern indicates such and such, but patterns can usually only be recognised after the event. Such analysts tend to say that *if* the price goes up and breaks this resistance level it will continue to go up, and *if* the price goes down and breaks this support level it will continue to go down, and *if* it does neither then it will remain within a channel. Of course this is of no use whatsoever because all possibilities have been covered. It just amounts to saying the price will rise, fall, or stay about the same, which we knew already.

Fundamental analysts identify considerations such as rising demand, falling production, rising interest rates, rising inflation, investor risk appetite, geopolitical uncertainty. These have the benefit of being tangible causes of price movements, but they are of  little use in timing price moves. Maybe gold is undervalued by all kinds of measures, but who is to say it cannot remain undervalued for a long time or go down even further?

The best thing to do with gold itself is treat it as insurance rather than as a speculative investment. Own as much as you reckon it would be helpful to have in the event of a financial collapse and hope you never have to use it.

What he said 👍🏻

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Sincere thanks b, actually that's a helpful tip. In Vietnam as well as in other Asian countries, they view gold as a risky investment and they often buy gold for stockpiling. They are not good at stock or some other market (link removed)

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I have given up buying gold/silver to make money as its price reactions make no sense. Global tensions, huge debts of the major counties, money printing and a clown in charge of the USA would make you think metals should be far higher. I sold out of most of my PM mining stocks a few months back. After 10 years of investing in the market I have realised impossible to predict even when using research and fundamentals. The dumping of huge amounts of paper gold/silver when the price gets too high is the only predictable thing about the market.

I now buy it because I like collecting and because of the potential insurance if the financial system does properly melt down. My once yearly stock audit is the highlight of the year for me - sad I know, but slightly less sad than other hobbies.

Many are predicting a large rise over the summer but the same crackpots have been saying this every year for the past decade. 50/50 chance I suppose. My prediction for next Friday is $17 silver and $1265 Gold.

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