What Price To Buy Gold?

[RummyBoy]

There was a big fall last week. Some say the bull run in Gold is over but a lot of economists disagree and suppose that this is just a long over due correction in the gold price. So where should the average person consider buying into gold?

Closing price on Friday was USD $1478/oz

What price does it need to fall to before you would consider it good value and worth buying?

[NiXXiN]

buy it at this price, sure people say gold is volatile. i mean look at this graph of it today.



But people only look at the past week and be like, omg gold is going down its so volatile, but look at the overall picture of gold, sure your gonna have days/weeks when its down but step back and look at the big picture.



id buy in at anytime, but recently i think its a good time.

[EddyTheDog]

Just checked my bank account & they would have to be giving it away, I might be able to afford the postage - Then again its bloody heavy stuff....

[RummyBoy]

I should have written "At What Price Is Gold Good Value?"

[DWB]

Originally Posted by NiXXiN

But people only look at the past week and be like, omg gold is going down its so volatile, but look at the overall picture of gold, sure your gonna have days/weeks when its down but step back and look at the big picture.



id buy in at anytime, but recently i think its a good time.

[AdultPornMasta]

Originally Posted by RummyBoy

I should have written "At What Price Is Gold Good Value?"

Any price.

[slapass]

Originally Posted by NiXXiN

buy it at this price, sure people say gold is volatile. i mean look at this graph of it today.



But people only look at the past week and be like, omg gold is going down its so volatile, but look at the overall picture of gold, sure your gonna have days/weeks when its down but step back and look at the big picture.



id buy in at anytime, but recently i think its a good time.

Get a chart that goes back another 5 years and that picture totally changes. Gold has historically traded not much over the cost to mine it, so at about $800/ounce USD.

[seeandsee]

buy cheap, sell on right time

[arock10]

Between 10-20 bitcoins

[MainstreamGuy]

it was not a true fall, it was manipulated by Goldman Sachs...

[slapass]

Looking lime it is down another 3% or so.

[RummyBoy]

What does "looking lime" mean?

it mean that gold is looking like a lemon?

isn't lime different fruit to lemon?

[lezinterracial]

Gold at $1000 and silver at $20.

[harvey]

Gold is so Aztec. Go with bitcoins

[facialfreak]

I remember as a child getting my first gold necklace appraised and gold being worth $633 an ounce, and I thought that was expensive ...

[NiXXiN]

i think it also has to do with some major countries moving to the chinese yuan.

[NiXXiN]

also i think i hear cyprus is selling there gold supply to pay back the debt aswell. as we seen with bitcoins, when anyone dumps a large amount of anything on the market then other people tend too aswell.

[Houdini]

Originally Posted by slapass

Get a chart that goes back another 5 years and that picture totally changes. Gold has historically traded not much over the cost to mine it, so at about $800/ounce USD.

Double that and you've got the cost.

"Total costs are sitting at $1,600/oz for the 13 biggest companies, which has been our universe for the last 13 years. Over the last two to three years, we have seen total costs rise an average of 15?17%. At a gold price of $1,600/oz, the industry does not produce a single Dollar of free cash flow. If we take a cost inflation of only 10%/year, we will need a gold price over $2,000/oz to maintain production. "

http://goldnews.bullionvault.com/gol...osts-031220132

[slapass]

you can buy at $1400 now.

[CurrentlySober]

i cunt a4d 2 by goldie

[CurrentlySober]

Originally Posted by CurrentlySober

i cunt a4d 2 by goldie

[slapass]

Originally Posted by Houdini

Double that and you've got the cost.

"Total costs are sitting at $1,600/oz for the 13 biggest companies, which has been our universe for the last 13 years. Over the last two to three years, we have seen total costs rise an average of 15?17%. At a gold price of $1,600/oz, the industry does not produce a single Dollar of free cash flow. If we take a cost inflation of only 10%/year, we will need a gold price over $2,000/oz to maintain production. "

http://goldnews.bullionvault.com/gol...osts-031220132

You would have to agree that this is a pretty aggressive number as it includes capital expenses and expansion expenses.

[Lykos]

Around 1000-1200$ seems good

[slapass]

Covered my short so I am chicken... hahaha. Let gold go where it wants now.

[Slappin Fish]

Trends don't reverse easily, bears are taking over.

If it goes under $1200 which is the cash cost production for gold it will become interesting.

[RummyBoy]

Everyone is so negative on gold now that I can only suppose gold is going to be an awesome buy. My speculation is that many of those posting against gold here are generally those who never held gold and nor will ever be holder of gold.

Now I should disclose that my holding is paper money but the fundamentals for paper money don't make sense....... id rather own gold at say $1200 but I doubt it will go that low because institution and government will start buying.

[slapass]

Originally Posted by RummyBoy

Everyone is so negative on gold now that I can only suppose gold is going to be an awesome buy. My speculation is that many of those posting against gold here are generally those who never held gold and nor will ever be holder of gold.

Now I should disclose that my holding is paper money but the fundamentals for paper money don't make sense....... id rather own gold at say $1200 but I doubt it will go that low because institution and government will start buying.

I have been short gold since November. I do not think I have ever had any significant long position in gold. Maybe in 2002. I would suggest that you not get wrapped up in its historical significance. Over the decades it has been a pretty shitty investment with booms and busts versus a long term rise.

[RummyBoy]

Originally Posted by slapass

Over the decades it has been a pretty shitty investment with booms and busts versus a long term rise.

No you misunderstood me. I agree on that and just about every economist will agree with you - gold is a shitty investment. However, it is an excellent "store of value" equivalent to the holding of cash, especially useful in times of inflation or inflation expectations.

I believe gold will continue on an upward path. However, nothing goes up in a straight line - a correction was long overdue.

There still comes a point when I would like to own gold rather than paper which has upon it, written a promise issued by a government which is most likely bankrupt and/or printing large volumes of money, diluting further an already dilute quantity of issued notes as well as diluting the value of the promise. Gold is still money and always will be.

[slapass]

It will be fun to see if many people had highly leveraged positions. Then this might get more steam to the downside. I am assuming this is mostly Wall Street getting out of the easy stuff like GLD and such versus people selling their gold bars on the street.

Makes a fun daily chart - http://bigcharts.marketwatch.com/qui...e=&freq=&show=

[CAHEK]

Around $1000/oz is good buy id say

[RummyBoy]

I don't see it going under, central banks will buy gold with all the fake money they created and china/india will be buying for sure.

Interest rates will go up but will they go above the rate of inflation? Not sure..... and what about these crisis, they will be back again when the bailout money is finished. US isn't going to solve its debt problem.

I need a reason why to think gold isn't good.

[shake]

I'll start buying again if it gets near $1k/oz

[RummyBoy]

Originally Posted by shake

I'll start buying again if it gets near $1k/oz

Another issue is that mining company pays min $800 to extract gold (on a per ounce basis calculation) so new supply shrinks if market price is too slow. Someone should explain properly why gold is not good.

[LA Crew]

Gold price set for worst 2-day loss in 30 years..

[slapass]

Originally Posted by RummyBoy

I don't see it going under, central banks will buy gold with all the fake money they created and china/india will be buying for sure.

Interest rates will go up but will they go above the rate of inflation? Not sure..... and what about these crisis, they will be back again when the bailout money is finished. US isn't going to solve its debt problem.

I need a reason why to think gold isn't good.

A reason to be anti-gold - It went up 900% in 9 years or so. If anything goes up way faster then you think, then it is time to sell and maybe even go short. Central banks don't need to buy gold. Most of the bigger emerging economies have been big buyers for years now.

The biggest reason is the crisis is over. Even if you don't think so, most people do so the reason to own gold is dissipating. No one even thought of gold in the 90's. We will now go back to that.

[Joshua G]

Originally Posted by RummyBoy

There was a big fall last week. Some say the bull run in Gold is over but a lot of economists disagree and suppose that this is just a long over due correction in the gold price. So where should the average person consider buying into gold?

Closing price on Friday was USD $1478/oz

What price does it need to fall to before you would consider it good value and worth buying?

hello.

the answer depends on if your an investor or a gambler.

if you are investing, you dont care about todays price. you are going to cash out in 30 years. todays price is irrelevent on a 30 year time curve. so you just dollar cost average your purchases over time.

but since you are worried about price, you might be a gambler. what you should do is buy up some books on technical analysis, chart reading, so you can pick price points to buy & sell for a quick buck.

& if you really are a gambler, you should looking to go short, not long, on gold to make the quick money. gamblers should never be stuck just making money on things that go up. making money on the downside is a lot faster.

but timing short positions is tricky so its not for beginners, & is unnatural for most people, who are hopelessly enslaved to a mindset of being long on things. it has to do with having a positive outlook on life & betting on things to lose is not congruent to a positive life outlook. people prefer to profit on success not failure.

[SEXTANT]

Dude you need to dig into the Greece land and the north land of it , its full with gold !

[RummyBoy]

Originally Posted by slapass

A reason to be anti-gold - It went up 900% in 9 years or so. If anything goes up way faster then you think, then it is time to sell and maybe even go short. Central banks don't need to buy gold. Most of the bigger emerging economies have been big buyers for years now.

The biggest reason is the crisis is over. Even if you don't think so, most people do so the reason to own gold is dissipating. No one even thought of gold in the 90's. We will now go back to that.

Hmmm not sure I buy this.....

(1) It took 9 yrs to get this high and there have been corrections along the way.

(2) Central banks have been acquiring gold as you say but they still are esp India & China

(3) The crisis isn't even half way over - its just shifted from bank to sovereign.

(4) Paper money is being debased more than ever......

So you think we will go back to $250/oz ????
Where do you think the gold price is going?

[slapass]

Originally Posted by JoshGirls Josh

hello.

the answer depends on if your an investor or a gambler.

if you are investing, you dont care about todays price. you are going to cash out in 30 years. todays price is irrelevent on a 30 year time curve. so you just dollar cost average your purchases over time.

but since you are worried about price, you might be a gambler. what you should do is buy up some books on technical analysis, chart reading, so you can pick price points to buy & sell for a quick buck.

& if you really are a gambler, you should looking to go short, not long, on gold to make the quick money. gamblers should never be stuck just making money on things that go up. making money on the downside is a lot faster.

but timing short positions is tricky so its not for beginners, & is unnatural for most people, who are hopelessly enslaved to a mindset of being long on things. it has to do with having a positive outlook on life & betting on things to lose is not congruent to a positive life outlook. people prefer to profit on success not failure.

If you don't do anything more then buy and hope, it is hard to make money. Very few investments are good after 30 years.

Gold - http://www.futuresbuzz.com/gc.bmp

[SEXTANT]

Originally Posted by PornMarkiz

Dude you need to dig into the Greece land and the north land of it , its full with gold !

specially the north land of it
been there done that!