|
#1
|
|||
|
|||
Gold
Time to attune attention to this market.
Fevered reports of a NY close over $500 (highest since 1980's) coming soon, to a TV near you. |
#2
|
|||
|
|||
Re: Gold
Which gold stocks do you guys own? I have 1000 shares of AUY (Yamana Gold, Inc.)--any comments? I jumped in @ $5.02/share; closed today @ $5.48.
|
#3
|
|||
|
|||
Re: Gold
GLD
|
#4
|
|||
|
|||
Re: Gold
Do your self a favor and just hold on to it. Dont trade it, it's a good holding. Consider adding/broadening out via the gold ETF (GLD) or a gold mutual like Fidelity Select GOld (FSAGX) or Toqueville Gold.
This action has all the earmarks of a huge multi-month move from the recent $500 milestone close. |
#5
|
|||
|
|||
Re: Gold
[ QUOTE ]
all the earmarks of a huge multi-month move from the recent $500 milestone [/ QUOTE ] I'm not saying you're wrong, but it's interesting that you're saying this when it's at a 24.5-year high. At what spot price would you recommend him to sell his holding? |
#6
|
|||
|
|||
Re: Gold
gold up another 5 this morning
|
#7
|
|||
|
|||
Re: Gold
This gold rally is predicated on staying above the 500-510 price area on a closing basis. It looks like it will deliver on that pretty easily. It hit $540 in Asia on Monday.
When price gets higher than a historical significant top, all the miserable people (holding at a loss) are gone, having sold "too get even", and most all new and remaining holders are anticipating higher prices. Many traders buy after price closed above 500-510 for this very reason. A close below 500-510 would likely be bad news for gold short-term. |
#8
|
|||
|
|||
Re: Gold
Newmont Mining is a good example. A close over 51 would be special.
|
#9
|
|||
|
|||
Re: Gold
Please read
Storage and stability & World commodities and world currencies both by Benjamin Graham, you will never again look at gold the same way. |
#10
|
|||
|
|||
Re: Gold
[ QUOTE ]
"It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." [/ QUOTE ] Warren Buffett, 1998 |
|
|