Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Tweet Topic Started: 3 Apr 2013, 10:29 AM (37,687 Views)
I'm thinking 01/04/2015, late morning... probably around 11:30am (on the east coast).
By that do you mean 11:30:00 or 11:30:59? And you mean east cost of Australia or USA (or any other country at that) What what if the east coast has different times due to daylight savings ... which one are you referring to?
Lets prevent any future misunderstandings
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
cockrider's silver is well in the hole. $24.64USD/oz right now.
he's lost 15% in just under a month.
SHIT! That much? It's almost down to the price I paid for my last buy at $22. Of course the average price I paid is around $18 so I have a way to go yet before I feel any pain. Then of course there is the slight possibility silver will bounce right back up again in the months and years to come. I just hope I don't have to wait as long as you housebugs have been waiting for your market to show any decent gains.
They double in 7 years don't they. How many years behind that promise are you now?BTW, you guys better get your super into cash just in case. The last time gold fell as fast and hard was just prior to the GFC.
Negative gearing is a form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan
A negative gearing strategy can only make a profit if the asset rises so much in price that the capital gain is more than the sum of the ongoing losses over the life of the speculation. http://en.wikipedia.org/wiki/Negative_gearing
cockrider's silver is well in the hole. $24.64USD/oz right now.
he's lost 15% in just under a month.
SHIT! That much? It's almost down to the price I paid for my last buy at $22. Of course the average price I paid is around $18 so I have a way to go yet before I feel any pain. Then of course there is the slight possibility silver will bounce right back up again in the months and years to come. I just hope I don't have to wait as long as you housebugs have been waiting for your market to show any decent gains.
They double in 7 years don't they. How many years behind that promise are you now?BTW, you guys better get your super into cash just in case. The last time gold fell as fast and hard was just prior to the GFC.
SHIT! That much? It's almost down to the price I paid for my last buy at $22. Of course the average price I paid is around $18 so I have a way to go yet before I feel any pain. Then of course there is the slight possibility silver will bounce right back up again in the months and years to come. I just hope I don't have to wait as long as you housebugs have been waiting for your market to show any decent gains.
They double in 7 years don't they. How many years behind that promise are you now?BTW, you guys better get your super into cash just in case. The last time gold fell as fast and hard was just prior to the GFC.
Neither actually. I'd wait a bit myself to be sure the bottom is in before buying. Gold could go a lot lower, could go 50% down from the peak. That would be gold just south of $1000/oz. Silver could go further, right now it's at 50% below it's peak and in bad economic times silver languishes.
The problem with all the idiots here is that they are locked into the "instant gains" mindset that modern inflationary economists have taught. They only look 2, 3, 4 years out. They buy houses and fully expect to retire on the proceeds of them 30 years hence but get caught up in the day to day hedonic price adjustments? Why keep crying for booms and searching for every little scrap of evidence that prices are going up? Why say we can't have 30% or 50% falls if they truly believe it all we good in 30 years time. If you bought at the right time you shouldn't care. Of course if you bought at a bubble top, like gold in 1980, then you are screwed for decades.
As for selling at this point in time, well that would be stupid for a number of reasons. Gold is money and I am just saving money for the future, plain and simple so why sell during a steep pullback? This isn't internet stocks where everyone on the planet is "All In". No one owns real physical gold, just look around the forum, I'm the only one, lol lol.
Gold has a 5000 year track record of holding its value and moving up with inflation. Just beause a few self-important money printers and banking insiders come along at the end of an empires reign and tell me it's worthless doesn't change that. The housebugs assume I am trying to make a big profit and retire rich but I am already well off by Australian standards and don't feel the need drive a maserati like the 2-bob millionares who went bust in the GFC. Nor do I see the need to buy any more gold or silver, I probably bought more than was prudent over the past 5 years, but then again, there were certainly worse places to leave the cash.
Negative gearing is a form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan
A negative gearing strategy can only make a profit if the asset rises so much in price that the capital gain is more than the sum of the ongoing losses over the life of the speculation. http://en.wikipedia.org/wiki/Negative_gearing
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