Anyone Buying Gold Here

[tsptalk]

Down another $140 an ounce today, is anybody taking a shot at a Gold trade here?

 

[RealMoneyIssues]

Down another $140 an ounce today, is anybody taking a shot at a Gold trade here?

Unless there is a black swan even to have this bounce sharply up, there is probably more downside risk... To be honest, I am not completely clear on why it is selling off.

I will wait to see what happens later in the week. If it continues to sell off, I may look at picking up some gold at $1200 or so.

 

[Birchtree]

I'll be dollar cost averaging into my current gold etfs - just increasing my position with golden prices. What an opportunity.

 

[weatherweenie]

Down another $140 an ounce today, is anybody taking a shot at a Gold trade here?

Unfortunately I bought AGQ about three weeks ago.

 

[Birchtree]

We apparently are seeing margin call selling in the gold market - this is most likely temporary. Let'em all get out but I'm staying.

 

[burrocrat]

no gold, but i'll start browsing the pawn shops for silver ingots if we can get below $20. problem is they don't like to sell it for less than they paid so they limit what is put out for sale and increase markup over spot to discourage buyers. they flat out tell you they have none, then when the price recovers all the sudden they have a ton of it again. i really only go there for the silver and used guns, and the gal in the jewelry dept. she likes to wear tank tops that are even more revealing when she bends down to pull the tray from the display case. sometimes i go in just to hold them and not buy anything.

 

[JTH]

Down another $140 an ounce today, is anybody taking a shot at a Gold trade here?

I'll project we go down to 100-105 before it bounces...in mid May

Weekly GLD Gold ETF
View attachment 23361

 

[nnuut]

I'll buy when it gets back down to $325.00 an ounce again.

 

[wavecoder]

gold is the new apple

in all honesty i wouldn't touch it yet. how does the saying go? don't catch a falling knife unless you're made of teflon

 

[tsptalk]

Gold Trust Indicator (this is BEFORE today's big decline.)

 

[mick504]

I'm curious, would people be willing to share what gold they purchase, for e.g. IAU, GLD, etc. I'm not into silver myself...too much bulk...hernia. Thanks!

 

[Sensei]

I don't have a lot of cash to throw around, and I treat my dividend stocks as buy and hold investments, so I'm not planning to sell them to raise cash. But I am going to start shifting my DCA's away from those stocks for a little while (maybe till summer) and into precious metals ETFs and mining stocks.

Buying SLV (prolly shoulda gone GLD...) and LNMIY today. See my thread for details on that.

My DCA's are small, so even if more weakness ensues, I'll be collecting shares little by little on the way down. Eventually when prices rise back up, I'll feel good about myself. Get rich slowly, I guess.

 

[rktect1]

In a couple weeks when it reaches $500

 

[nnuut]

April 16, 2013, 8:31 a.m. EDT
Gold’s fair value is $800 an ounce

Commentary: What price is justified by gold’s fundamentals?
CHAPEL HILL, N.C. (MarketWatch) — Gold’s bear market is just beginning.
That’s the depressing assessment from Claude Erb, a former commodities portfolio manager for Trust Company of the West, and co-author — with Campbell Harvey, a Duke University university finance professor — of an academic study from last June that is looking to be increasingly prophetic.
n that study, the authors calculate that gold’s fair value is close to $800 an ounce. Though many of gold’s true believers were inclined to dismiss such a bearish projection when their study came out, it’s beginning to be taken a lot more seriously: Bullion’s recent slaughter has eliminated more than 40% of what a year ago they concluded was bullion’s overvaluation — including $240 over the last week alone.

Gold

 

[skidog]

Anybody have an opinion on Barrack Gold ABX and Silver Weaton SLW? I'm being hammered to the point where I feel like giving up..... Probably the worst time to give up.

 

[tsptalk]

They are certainly in bear markets but there's lots of overhead gaps that need to get filled.

 

[mick504]

I'll bet the assessment of $800 per oz...really sets some people on fire! I remember buying it back when it went to $800 years back....however needed cash so sold it lower than I bought it. The buy high sell low syndrome! Thanks for the study! I would probably buy at that price, however I don't see it going that low...too many speculators out there which moves prices up! Currently in cash...awaiting a market correction!

 

[Warrenlm]

no gold, but i'll start browsing the pawn shops for silver ingots if we can get below $20. problem is they don't like to sell it for less than they paid so they limit what is put out for sale and increase markup over spot to discourage buyers. they flat out tell you they have none, then when the price recovers all the sudden they have a ton of it again. i really only go there for the silver and used guns, and the gal in the jewelry dept. she likes to wear tank tops that are even more revealing when she bends down to pull the tray from the display case. sometimes i go in just to hold them and not buy anything.

This is a family site. Want to clarify what you are holding?

 

[CrabClaw]

If gold goes into a sustained correction / slump all of the gold mining reality TV shows should go away.

I will take a closer look if it gets to $1200

 

[Bullitt]

I need a huge margin of safety to get involved with PM's. GDXJ and GDX are way oversold and nearing a good buy point when GDX hits $20 though GDXJ might be a better pick seeing that it's hitting all time lows.

Would never invest in GLD.