But at Kris' advice, I already sold my Sydney home and put it all in gold last year. Sydney house prices has gone up. I have no home and no cash, and gold has come down a lot in price - what should I do now?*
all the bulls have been saying gold is in for pain for about 12 months. gold has been dropping for more than 2 years now.
i refuse to give sayce any credit, his only advise is to buy gold, so he is not calling anything.
I've only really noticed his articles in the last few months. Admittedly they do seem slightly spruikerish, but at this point in time I actually agree with his position on gold (which I arrived at independently and only a few months ago). Not sure on his track record, I haven't done any research on him.
I agree gold has been dropping for 2 years now. But the question is, is now a good time to buy gold (I've only just bought in the last few months)? Obviously most of the property bulls don't think so, and fair enough, I've got no problem with that position and it may be correct. Based on my probabilities, and risk reward ratio though, gold stocks look to be worth buying to me at the moment. So far NCM is up almost 30% since I bought and PRU over 10%, as well as selling GOLD for an 11% gain. Obviously that can all turn around quite quickly but I'm willing to take that risk at these levels with a small portion of capital.
I've only really noticed his articles in the last few months. Admittedly they do seem slightly spruikerish, but at this point in time I actually agree with his position on gold (which I arrived at independently and only a few months ago). Not sure on his track record, I haven't done any research on him.
I agree gold has been dropping for 2 years now. But the question is, is now a good time to buy gold (I've only just bought in the last few months)? Obviously most of the property bulls don't think so, and fair enough, I've got no problem with that position and it may be correct. Based on my probabilities, and risk reward ratio though, gold stocks look to be worth buying to me at the moment. So far NCM is up almost 30% since I bought and PRU over 10%, as well as selling GOLD for an 11% gain. Obviously that can all turn around quite quickly but I'm willing to take that risk at these levels with a small portion of capital.
We have some fun with Kris because he has been insisting Australian property is going to crash in nominal terms by 40% since 2008. He is also 'pro gold' but his mates are even more so.
I have lost money on metals and would recommend not getting carried away with your punt if you decide to take it
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
It's still just bouncing along before the next big leg down...
You must be talking about sydney house prices lol, because that's what the fundamentals point to.
Trojan
15 Aug 2013, 03:22 PM
But at Kris' advice, I already sold my Sydney home and put it all in gold last year. Sydney house prices has gone up. I have no home and no cash, and gold has come down a lot in price - what should I do now?*
* signed Crazy Dave/Ted
Have faith you idiot, have faith in the fundamentals of the gold market. The price is nearly $1600 again so in a week or two you will back at last years price and you can cash out half of your gold and buy a house in a decent place instead of that rathole you sold out of. And you'll have a good pile of gold to retire on.
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