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Gold high spot price


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I was expecting price in USD retrace $1350 consolidate and then move up next level $1540 by end of the year. Acceleration in price up has caught a lot people off guard.

Last year started buying gold I thought I had a lot more time to accumulate at $1200 price bracket at least until the end QB series. 

So many more 1 oz gold coins I wanted to buy when QB finished. Glad price is high but uncertain price will every return £1000 oz again.

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11 hours ago, AuricGoldfinger said:

@adamthetaller just keep on stackin, that’s what I’m gonna do!

That's the plan, just have to be a bit more selective now I've got through the "backlog" of cash that had built up while I was figuring out what to do with it - e.g. Sov/0.25Oz now or wait a couple of months and go 1Oz... This month the Sov won!

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3 hours ago, Abyss said:

I was expecting price in USD retrace $1350 consolidate and then move up next level $1540 by end of the year. Acceleration in price up has caught a lot people off guard.

Last year started buying gold I thought I had a lot more time to accumulate at $1200 price bracket at least until the end QB series. 

So many more 1 oz gold coins I wanted to buy when QB finished. Glad price is high but uncertain price will every return £1000 oz again.

 

I wrote this just 2 months ago:

 

"I'm predicting that the PMs market will surprise many people, include those invested, with its next significant move, which should be to the upside. We've had a very long multi-year consolidation which has conditioned every to expect more of the same, but this is when markets defy those expectations."

 

This bull market in PMs is doing what all new bull markets do, which is to leave the station with as few people as possible on board for the ride. It is always the same. 

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Actually sterling's weakness only tells part of the story. For example, most of the recent gains have been because of geopolitical tensions and the trade war between China and the US. Also Brexit jitters and US economy fears, incl interest rate action by the Fed. Basically, it's a perfect storm of circumstances coming together to influence the gold price in a "positive" way (i.e. bullish). We know that most of these issues will persist for most of the rest of this year, likely into 2020. So I only foresee a continue in the rise of the gold price until then.

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2 minutes ago, goldmember44 said:

We are unlikely to see £1000 again... with currency devaluation on the cards everywhere it seems.

Bad time to arrive new into buying and hoarding gold then. Like me. I can't buy anymore, not at all time high prices.

What happened in 2012 when prices reached all time high. I bet people were saying we won't see lower than £1000 again but we did. So I'll wait and hope there's a correction.

Wonderful time to be selling though.

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To be honest, I don't think the beginning of a bull market is a good time to sell... might not be very wise. Gold can go much higher than this still. The big money is buying...(central banks). Retail investors want to grab a quick profit but in doing so they might miss out on the big move/picture.

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7 minutes ago, Notafront4adragon said:

Bad time to arrive new into buying and hoarding gold then. Like me. I can't buy anymore, not at all time high prices.

What happened in 2012 when prices reached all time high. I bet people were saying we won't see lower than £1000 again but we did. So I'll wait and hope there's a correction.

Wonderful time to be selling though.

I'm not selling any gold now, unless it is to fund another gold purchase.

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2 hours ago, vand said:

 

I wrote this just 2 months ago:

 

"I'm predicting that the PMs market will surprise many people, include those invested, with its next significant move, which should be to the upside. We've had a very long multi-year consolidation which has conditioned every to expect more of the same, but this is when markets defy those expectations."

 

This bull market in PMs is doing what all new bull markets do, which is to leave the station with as few people as possible on board for the ride. It is always the same. 

Yes but people had been saying the same for a few years. Eventually they will get it right and then pat themselves on the back for being so brilliant.

Just as experts have been calling the top of the equities markets for many years now. At some point they will be right.

Profile picture with thanks to Carl Vernon

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1 hour ago, goldmember44 said:

I'm not selling any gold now, unless it is to fund another gold purchase.

I'm not fortunate enough to see much of a profit if I could find a buyer. So certainly won't sell now. But I thought you sell the rumour and buy the fact. Rumour is gold will be going super high. Fact is it's too high to buy now.

If I had bought at the right price say 700 an oz I'd certainly consider selling some for a profit in the expectation that'll it fall and I could buy it back. But as you say only if there was a purpose to using any profits. 

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3 minutes ago, sovereignsteve said:

Yes but people had been saying the same for a few years. Eventually they will get it right and then pat themselves on the back for being so brilliant.

Just as experts have been calling the top of the equities markets for many years now. At some point they will be right.

A broken clock is still right 2x a day!

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Always precious the bullion market, some people are more accurate and more aware than others, for myself it's what I have in my pocket at the moment, but it is fun a lot of the time am I right am I'm not. 

Just keep asking maybe one day get it right.

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2 hours ago, sovereignsteve said:

Yes but people had been saying the same for a few years. Eventually they will get it right and then pat themselves on the back for being so brilliant.

Just as experts have been calling the top of the equities markets for many years now. At some point they will be right.

True, they have been several false dawns.

The trick is to put yourself in the position where it doesn't matter how many times you get it wrong you only need to get it right once. The easiest way to do that is to accumulate something that is is beaten down and cheap over an extended period of time. Don't use leverage, and don't buy more than you are comfortable to hold for the next 50 years even if it does nothing. It may bump around for years at the bottom, but eventually things will turn around and units that you have accumulated will be worth more. 

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16 minutes ago, vand said:

True, they have been several false dawns.

The trick is to put yourself in the position where it doesn't matter how many times you get it wrong you only need to get it right once. The easiest way to do that is to accumulate something that is is beaten down and cheap over an extended period of time. Don't use leverage, and don't buy more than you are comfortable to hold for the next 50 years even if it does nothing. It may bump around for years at the bottom, but eventually things will turn around and units that you have accumulated will be worth more. 

I think we have the general idea of continuing to buy no matter what, just increasing and reducing as the price allows, back in 86 I was buying either a whole or half sovereign per week, every week, I increased and reduced it as times demanded but I never sold and never stopped...there have been times was buying at silly high prices but also buying at silly low ones and generally it's made itself a smart buy...if I'd sold at the top I doubt I'd have bought as much at the bottom as I'd be a subconscious trader, not buyer...I think when you make out and it's either great or not so great your mindset becomes investment and not personal finacial protection.

 

My main reason for collecting gold and silver is not to become filthy rich, but to avoid ever becoming filthy poor.

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