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Old 02-09-2016, 03:57 AM   #1
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Time To Buy Gold?

Well that was a quick move, we're barely a month into 2016 and Gold is up 13% touching $1200 yesterday. It looks like the USD is backing off somewhat as further rate hikes may not happen:

http://www.cnbc.com/2016/02/08/techn...is-coming.html

Also, after Japan, Sweden and Swiss adopted negative interest rates, there's now some serious talk about implementing Negative Interest Rates in the US if there's a recession:

Will the Fed Go Negative on Rates?

I doubt, as the anchor says, you could go -10% interest rates and people won't yank their cash out of the bank.
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Old 02-09-2016, 04:29 AM   #2
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Old 02-09-2016, 04:57 AM   #3
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IMO gold is reversing and yes, it's time to start buying.

It's currently overbought and I expect some profit taking this week.
I'm expecting a pullback to ~1156 level to make a higher low before I add to my position.


BUY GOLD!!!

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Old 02-09-2016, 05:02 AM   #4
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Old 02-09-2016, 05:06 AM   #5
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From what I can see it's always the time to buy gold...
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Old 02-09-2016, 05:08 AM   #6
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Well that was a quick move, we're barely a month into 2016 and Gold is up 13% touching $1200 yesterday. It looks like the USD is backing off somewhat as further rate hikes may not happen:

http://www.cnbc.com/2016/02/08/techn...is-coming.html

Also, after Japan, Sweden and Swiss adopted negative interest rates, there's now some serious talk about implementing Negative Interest Rates in the US if there's a recession:

Will the Fed Go Negative on Rates?

I doubt, as the anchor says, you could go -10% interest rates and people won't yank their cash out of the bank.
WE WANT the dollar to fall. It's had an adverse effect on multinational companies and exports. Expect more strength in the DOW stocks as it falls. Look for good dividend paying companies. Sectors are shifting into industrial, basic material, energy, transports.
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Old 02-09-2016, 05:13 AM   #7
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WE WANT the dollar to fall. It's had an adverse effect on multinational companies and exports. Expect more strength in the DOW stocks as it fall.
Absolutely agree. Strong dollar has been a big problem for MNC/exports but of course, you could only get a strong dollar with a narrative on rates going up. Now that the rug has been pulled, the dollar can slip back a bit and that will be supportive.

However, obviously it could also potentially be good for gold, at least for a while.
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Old 02-09-2016, 05:26 AM   #8
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Old 02-09-2016, 05:32 AM   #9
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Absolutely agree. Strong dollar has been a big problem for MNC/exports but of course, you could only get a strong dollar with a narrative on rates going up. Now that the rug has been pulled, the dollar can slip back a bit and that will be supportive.

However, obviously it could also potentially be good for gold, at least for a while.
DIA pays a 3% dividend yield at 163. It's a buy at and under that level. We should see some divergence in the indexes as we did with IWM all of last year.
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Old 02-09-2016, 05:59 AM   #10
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DIA pays a 3% dividend yield at 163. It's a buy at and under that level. We should see some divergence in the indexes as we did with IWM all of last year.
Here's my issue with Gold:

Gold usually rises during Indian wedding season and into Chinese New Year and then falls off in the summer. As gold is relatively low and physical demand relatively high, that could continue into the summer if markets sell off even more which they may well do (Sell in May etc).

Then my thinking is that (unusually) gold could peak during the summer as the dollar is weakened but that weak dollar could give the economy a year end boost which in turn would boost the stock market and the dollar, and crush gold.

So Gold could rise into summer only and drop off at year end. Am I wrong?
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Old 02-09-2016, 06:26 AM   #11
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I would always bear in mind that gold is a market that is very manipulated by Central Banks, so it's hard to make rational judgments. That said, holding paper currency is set to get more risky, so the prospects for gold do look good.
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Old 02-09-2016, 06:27 AM   #12
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WE WANT the dollar to fall. It's had an adverse effect on multinational companies and exports. Expect more strength in the DOW stocks as it falls. Look for good dividend paying companies. Sectors are shifting into industrial, basic material, energy, transports.
If the dollar falls then gold goes up. But this is true for almost everything so why buy gold that doesn't have a return?
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Old 02-09-2016, 07:06 AM   #13
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If the dollar falls then gold goes up. But this is true for almost everything so why buy gold that doesn't have a return?
It's one of very few assets that have almost zero counter-party risk if you hold it in a physical form. However, its not totally inverse to the dollar and it does give a return based on demand and supply fundamentals. It just doesn't pay any dividend but then nor do many stocks.
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Old 02-09-2016, 07:33 AM   #14
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Gold go over the oil as all resource markets.
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Old 02-09-2016, 11:00 AM   #15
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Gold is great!
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Old 02-09-2016, 01:29 PM   #16
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Yea i would rather buy gold then stocks on the market
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Old 02-09-2016, 02:29 PM   #17
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Fuck gold, I buy denim. It should be classified as a commodity..
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Old 02-09-2016, 02:40 PM   #18
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Nice! this was 2 streets away from my home
Is that in Holland?
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Old 02-09-2016, 02:41 PM   #19
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Fuck gold, I buy denim. It should be classified as a commodity..
Lego is the one to go for
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Old 02-09-2016, 04:14 PM   #20
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The time to buy gold was 3 weeks ago so you could sell it to the sheeple as it rises

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Old 02-09-2016, 10:44 PM   #21
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i think gold will have a good run in 2016
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Old 02-10-2016, 03:08 AM   #22
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Considering how often and how INTENSIVELY central banks INTERVENE in finance markets, GOLD is a losing proposition.

True story.

You're better off using a VOLATILITY TRADING STRATEGY. For example: Making Money When the Stock Market is Crashing is Easier Than You Think ? Stock news That Matters
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Old 02-10-2016, 08:53 AM   #23
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Gold is great!
Aloha Apmex! Aloha Apmex!
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Old 02-10-2016, 11:30 AM   #24
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Get gold eagles and or Krugerrands and then get some of the other metals in coin form as well.

Also in many countries you can just go to a local bank and buy coins. Regardless of where you buy the coins make sure to ask them about their policy about buying coins with defects. Some small dealers may not pay full price if there are dents. Most big dealers don't seem to care about defects at all. Krugerrands tend to have more dings due to age but it is an allow so they are rare although there may be a tiny amount of wear from handling.

South African Gold Krugerrand 1 oz - Great National Pricing

American Gold Eagle 1 oz - Great National Pricing
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Old 02-10-2016, 04:58 PM   #25
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If only the global economy RAN on REAL VALUE

Then and only then would using COMMODITIES and CLASSIC STORES OF VALUE like Gold make sense......

Other than that, you gotta fight FIAT with FIAT
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Old 02-10-2016, 05:16 PM   #26
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fuck me... didn't even stall...
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Old 02-10-2016, 06:39 PM   #27
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fuck me... didn't even stall...
Yeah well its been pushed down by false expectations for so long and demand has been really strong so it doesn't surprise me that upside pressure is quite high. You obviously watched yesterday's action with the same interest as I did because whenever the FED opens their mouth, doves fly out

The talk on negative interest rates has increased significantly and Janet Yellen addressed it last night. Also even though she said "FED is not likely to reverse course on interest rate rises" gold went up proving that the market doesn't believe her. You also have this thing about the banks selling off worse than 2008 crisis, causing a lot of fear in the markets.

So I think it might keep rising well into the summer (if markets continue to sell off) and then Gold sells off at year end instead when usually it would rise.
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Old 02-10-2016, 06:57 PM   #28
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I forgot to mention there is also another thing, Soros and Bass and others have taken out a big short on the RMB being devalued. There's a big expectation of this happening this year in China.

So in order to front run that, a lot of Chinese are buying gold right now aggressively.
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Old 02-10-2016, 07:22 PM   #29
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Fuck gold, I buy denim. It should be classified as a commodity..
graph of denim price movement please
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Old 02-11-2016, 04:56 AM   #30
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fuck it, buying more now.

Shit is really gonna hit the fan when China opens next week.
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Old 02-11-2016, 05:05 AM   #31
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TLT, XLU... I expect these to get hit when interest rates rise...

thoughts?
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Old 02-11-2016, 05:06 AM   #32
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fuck it, buying more now.

Shit is really gonna hit the fan when China opens next week.
What the fuck?

It was up 4% earlier (up $42 just for today)...... what did I miss?

You're right though, because there'll be a whole load of activity when Chinese New Year holiday ends on Monday and since China has capital controls and the dollar is falling, Gold is the most obvious option available to Chinese people.

Quote:
TLT, XLU... I expect these to get hit when interest rates rise...
What makes you think they're gonna rise?
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Old 02-11-2016, 05:10 AM   #33
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What the fuck?

It was up 4% earlier (up $42 just for today)...... what did I miss?



What makes you think they're gonna rise?
just from my understanding of the cycles and phases of recession. i could be wrong, i've only started on nov 2014.
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Old 02-11-2016, 05:18 AM   #34
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just from my understanding of the cycles and phases of recession. i could be wrong, i've only started on nov 2014.
Well its possible for the FED to hike one more time like 0.25% since they don't want to lose credibility but if you look at the way the the numbers are coming out and the market is behaving they're expecting a higher probability of rates being cut and going negative. Negative rates is like the main topic of discussion on Bloomberg right now.

The way Gold has moved over the last couple of weeks, it could erase all its USD losses over the last three years this year which means it could rise 40% this year and that would see over $1500/oz this year but I suspect it will sell off at year end if the dollar is weak enough by then.

I doubt it will get that high but I mean, its possible. We're up 15% already in basically first six weeks (20% in some currencies) of the year so what does the rest of the year hold?
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Old 02-11-2016, 07:58 AM   #35
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Damn, I saw it was just up $43. Looks like another bloodbath on the market today.
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Old 02-11-2016, 08:45 AM   #36
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Damn, I saw it was just up $43. Looks like another bloodbath on the market today.
Last I checked, it was up $53 or 4.4% on the day.
Pretty stunning one day move.

A lot banks are under stress. I think Deutsche Bank share price fell lower than 2008 a few days back and i guess thats put some crisis fear into some.
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Old 02-11-2016, 09:40 AM   #37
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fuck me, i put on a lot of verticals today... don't forget market is closed on monday... get your shit done by tomorrow!
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Old 02-11-2016, 09:41 AM   #38
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Its always good to buy gold .. Second clever investment after buying real estate
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Old 02-11-2016, 09:44 AM   #39
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fuck me, i put on a lot of verticals today...
Whats that? And whats going on?
Looks like BofA said it could top $1550 this year.

Last I checked gold was up over $60 and over 5% on the day - it should sell off tommorrow, technically.
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Old 02-11-2016, 09:46 AM   #40
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Whats that? And whats going on?
Looks like BofA said it could top $1550 this year.

Last I checked gold was up over $60 and over 5% on the day.
limiting losses from any large market swings during the weekend... also placed another order for physical gold this morning.
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Old 02-11-2016, 10:15 AM   #41
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Not buying gold im till investing in porn
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Old 02-11-2016, 11:07 AM   #42
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limiting losses from any large market swings during the weekend... also placed another order for physical gold this morning.
Physical gold, that's all I have. I bought a lot back in '06 when it was $550 and some more last year when it was around $1200. It has been a great investment for me.
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Old 02-11-2016, 11:29 AM   #43
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A rush to gold could be very temporary or it could be the time when things are beginning to shift. I would say it is about time. Gold will eventually rise to bizarre levels so even if you are buying now it will be cheap. However you might have to hold it for a while (years) to see those bizarre levels. If gold is ever used to back or partially back any big currencies then it could get in the bizarre range easily.

We are getting closer to the big shift to be fully realized by the average potato head. Ten years from now we won't be able to just go out and make tons of money off of throngs of spoiled mono-lingual fat lazy dumbed down sports score checking consumers who are enabled by tons of easy and cheap credit. Those days are over...almost. So regardless if you are rich or poor you should be mentally and physically preparing for a different type of economy. Going out and buying a new home right now is about the dumbest thing you could do aside from "investing" in some vapid tech stock.
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Old 02-11-2016, 11:34 AM   #44
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Expect Central Banks to make noises yet another STIMULUS PROGRAM

Expect this gold rally (like other rallies before it) to FIZZLE OUT.

The only way GOLD will STAY UP is if there's a BLACK SWAN event.
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Old 02-11-2016, 11:51 AM   #45
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Good or bad, keep buying!

Tangible Gold!
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Old 02-11-2016, 11:55 AM   #46
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Wouldn't it make more sense to buy, or prepare to buy, stocks in oil? Of course its falling and continuing to fall but it probably will start turning around soon.
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Old 02-11-2016, 02:16 PM   #47
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Wouldn't it make more sense to buy, or prepare to buy, stocks in oil? Of course its falling and continuing to fall but it probably will start turning around soon.
Yes, watching oil and biotechs. More sense? Nah, good level to buy metals and good momentum...
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Old 02-11-2016, 02:20 PM   #48
crockett
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Originally Posted by mineistaken View Post
graph of denim price movement please
Sorry, no graphs I just buy for $5-7 and sell for $20-40 on average.
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Old 02-11-2016, 03:42 PM   #49
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Unloading half of my position around 1400... should see a lot of selling there...
the worst thing you can do is hold onto shit too long.
you buy with the intention to sell.
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Old 02-11-2016, 07:59 PM   #50
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Expect this gold rally (like other rallies before it) to FIZZLE OUT.
So what's your year end price prediction for gold?
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