If you believe now is the time to jump in.
Click download link to listen on this device: Download Show
Got stink bids GOING for ASANKO and PILOT…any other suggestions – Matthew – that really, really seems like a GREAT bet…one or two?? Thanks for ALL YOUR input on this site…u r invaluable my friend!!
ALL THE BEST TO EVERYONE – and a MERRY XMAS……..!!
True Gold Mining is my favorite development play. A certain newsletter that advised selling due to Burkina Faso’s politics is dead wrong in my opinion. These guys also advised bailing out of Fortuna when it was about 85 cents due to similar hysterics.
I think Primero Mining is cheap at the moment.
Merry Christmas!
Primero mining imo has the best ceo of all. I personally like conway’s record. He delivers.
If you’re interested in a really oversold oil servicing play – check out PES
If gold is going past 1240 to the 1280 zone, then yes, now is the time to buy. If it is going to trade sideways to down, like Doc mentioned yesterday, then now would be the time to sit on the sidelines.
If once gold gets near the 1280 level it is “capped” as Gary said and then will head back down, then there is no harm in waiting for that to be over first. However, if in January Gold gets a bid as Chris T. and Doc targeted, then it would be best to buy in late December/early Jan.
Honestly, it is all a guess at this point, even it is guided by some technical analysis. Clearly there are different technical indicators one can watch and come to completely different outcomes. Nobody on this site has been right every time, which means their technical analysis system is not always right, and someone else’s system may have worked that time. We’ll just have to see what happens and find out which track things are taking the remainder of the month.
If we would have jumped in with 2 feet on Avi Gilberts prediction of a spike up today it wouldn’t have been a good call. However, Avi has been about 80-90% correct over the last few years using the 5 wave and ABC waves. Gary has been fairly accurate, but not every time. Same for Rick, Doc, & Chris. Look at good old Bo ‘s call that was cleary off. I for one am a fan of Gary Wagner, but his TA lately has been revised several times. It is all a crapshoot at this point.
All of it is guesswork based on trends.
100% agree with Matthew.
As a matter of fact, the longer the time frame for investing, the more inclined someone should be to deploy capital/buy some when there is a bloodbath…
*Lower price = better risk/reward
and
* longer time frame = time on your side… What more to ask ???????
Best,
LPG
I disagree with zerohedge-you can’t get blood out of a stone.
Well, there is 303 trillion available but the question is how much it can buy.
ZERO………..it is all leveraged………………….
CFS………….REGARDLESS ………it is going to be FUTURE …..BONDAGE.., where they the bankers ,govt…., hold hostage the people when the banksters have stole ALL THE MONEY……and given the people the DEBT/BONDAGE……….
cfs says “…can’t get blood from a stone”. -What is there to disagree with? THAT’S NOT THE POINT. We take it for granted that the debt can never be paid in full, but U.S. labor, savings, pensions, investments, and natural resources have all now been nationalized with the passing of the ominous omnibus spending bill. No brag, just fact. We’ve been signed up for Cyprian-style BAIL-INs for those infamous financial weapons of mass destruction i.e. Derivative. Dark pools of illiquid fraud. Sabe? The Middle class is headed for a slow motion ride to subsistence poverty. Take THAT to the bank.
The other question we must ask is – TO WHOM do we owe the Debt? China, Sovereign Wealth funds? European banks? These account for just a fraction of overall liabilities. The Full Faith and Credit Clause in Article I section 8 of the Constitution actually describes how money is brought into existence: the promissory note. Except in this case our signature is being forged on checks made out to the private stockholders of the so-called Federal Reserve with the issuance of currency-on-loan at Interest. Banks don’t just have trillions of dollars sitting in bank vaults; money is created by your promise to pay in kind, not at interest. So, up and until you people realize the Central Bank system is fraudulent from start to finish, a breach of contract by Congress, and that we are not obligated to pay but by the point of a gun, and start talking about what to do about it, then you shall continue to be led down the primrose path to galloping ruin.
forged………..is correct…………
everyone in congress should be held accountable……sued, clawed back, and forced to pay back to the us citizens, every dime they have made while in congress…….
and go back as far as 1940…..and get all the money from the heirs of all the estates of all congressmen, and women……..that have disserved this nation……….jmho
radical yes……but so is $303 trillion……………
Al
There was only one correct moment and that was the low on Nov.7
That other nonsence of being on the sideline is just pure crap.
Peter
I agree
Peter,
We’ll see about the “pure crap” you are referring to. Maybe we’ll get a lower low that what occurred on Nov 7th. However, I note 2 things:
1) Nov 7th marked a double reversal in a significant down move that had lasted a few months.
I mentioned this fact back then (on Nov 7th itself) but I AM NOT SURE everyone understand what a double reversal is and/or the conditions that need to be fulfilled in order to have a double reversal + the typical significance of that kind of “move”.
Double reversal is typically, but not always, a significant event when a trend is extended.
I mentioned back then that the previous one marked the YTD top on gold back in March. We’ll see how long this one on Nov 7th will hold as a significant “moment”.
2) We’re about $100 higher than the intraday low on Nov 7th… and about $50 higher than were some people were saying (back at $1180) that they were (already) “on the sidelines”.
As I mentioned in the past, I call this the “Amazon syndrome” – wanting to get the best price all the time. However, at the difference of shopping on Amazon, when prices fall to what I personally see as interesting levels, some of us don’t take action and become paralyzed as they see prices going south south south south sooouuuutthhh (did I say “south” ? ๐ ).
Why is that ? IMHO, just because 1) they wanna catch the bottom as they think they can time it perfectly but also and more importantly 2) they don’t have a plan and 3) they look at a falling price and become “paralyzed” (a chemical reaction in the blood involving some hormones – totally natural).
I personally make mistakes when I invest and when I trade. I take both trading and investing as a NEVER ENDING LEARNING PROCESS…
…. BUT MOST OF THE TIME I NOTICED THAT
* when I have a plan,
* when I am prepared and
* when I pull the trigger ACCORDING to my previous plan (and when I have a plan for after that plan), things end-up “ok”.
And TYPICALLY, the things that do end up “ok” are things I bought when they were going down down downnnn (note that in this case I have a “personal view’, fwiw, on what the value of the stock is or what the value of gold is).
In other words, I tried to buy when the price is closer to (the)value (I estimate) AND when risk is therefore reduced AND when my risk/reward is enhanced because the price is lower.
But most investors end up buying when things are up, when the chart is up, when their eyes go from the bottom left to the upper right corner on the chart…
To me – and I confess I used to be behave like this – it is WRONG WRONG W-R-O-N-G.
As some successful investors said: you have to be PAID to take risk, but don’t pay to take risks. The higher the price, the more you end up PAYING to take risks. The lower the price, the more it is below what you assess the VALUE of the asset to be, the more you get PAID for taking the risk. I like that path better.
I mentioned some time ago that I don’t know whether the low was struck on Nov 7th. I also noted that I will ONLY be able to know this in HINDSIGHT.
But nevertheless, I started to add to my small positions at the very very end of October and the very very beginning of November. I started adding BEFORE gold put that 1130ish bottom. I didn’t try to time it: I just thought some stocks, because they were down to certain levels, presented interesting VALUE, and the risk/reward was quite good if I was taking a 2-3 yrs timeframe.
Likewise, I got some Jan 2016 GLD and SLV Calls at broadly the levels that I wanted and I feel good about those levels. I keep some firepower on these IN CASE we make lower lows on gold and silver (in which case I will add to these GLD and SLV calls, but with a lower strike that lower gold prices will enable me to be willing to pay). If not (ie if gold and silver don’t make a lower low)…. I suspect they MIGHT provide an interesting reward during 2015 at some point.
Bottom line:
We are now 1 month past what has been so far a low on Nov 7th for gold.
Some of us are still debating “buy now”? “wait” ? “sidelines” ?
To me, the best times are when things are down, down, down and down again, and down to levels close to (or even better, BELOW) what I estimate as value.
But interestingly, when things are down one day, then the next day, then the day after, and again, and again, who’s out there to buy – really? I note – and some others on Kereport have noted that too that DESPITE him waiting for a lower low on gold, Avi Gilburt has started deploying capital and got some long exposure into gold (with a very long term duration). So EVEN HIMSELF seems to have liked the 1st week of Nov pricing EVEN IF he believes lower lows are possible. That’s a VERY SOUND behavior/attitude IMHO.
I think the OIL SECTOR is gonna provide the bold investors TREMENDOUS opportunities over the next say… 3 years. However, who is SERIOUSLY starting to deploy capital, as oil is now just below $60 ? And who will add to positions if oil reaches close to $50? and maybe close to $40?
I see the same phenomena occurring as with gold/silver/precious metals: because some people in some media say “oil is going to $40, oil is going to $30” then MOST investors are waiting for these levels to deploy capital. But honestly, what do the pundits know? Seriously ???? It’s all a guessing game. Period.
The problem is that the smart money ain’t gonna wait for these $40 or $30 levels to deploy capital into beaten up quality oil names. So as a consequence and simply put: some oil stocks will bottom WELL BEFORE oil puts a bottom (if you think many oil stocks will bottom on the same day oil bottoms, my suspicion is that you are in for a dillusion/disappointment).
So waiting for a bottom on oil in order to buy oil stocks is AGAIN, a futile exercise – and good luck to all of those who think they can time a bottom on oil, and in their favorite oil stocks… LPG will probably be in “pacman / nibble nibble nibble” style before oil bottoms, but that’s ok: I’ll still sleep fine.
Best to all, and GL investing/trading.
LPG
“When going through hell, keep walking”
PS:
I forgot: I already started small pacman style on a very specific oil stock.
I’m happy to add capital up to 75% BELOW where I started to buy at – I have a plan, orders are already in place, and I suspect I will sleep well, even the share price falls another 75% from where we are now. ๐ [actually, I hope the share price does fall …]
That was a great post LPG. I appreciate what you are saying about indecision near obvious bottoms. We all suffer from that to some extent and maybe especially those of us who have been watching metals markets most closely since the declines began. To some extent we are already conditioned to believe that one more low is coming and so we hold off. Conversely when prices ratchet up there is a conditioned response to expect prices to fall back again and so no action is taken there either. Right about now I am in the “I don’t care if gold falls further” camp because I think these are great price levels to be buying at. The only thing that holds me back now is a belief the miners must represented by GDX and GDXJ must bottom (double bottom actually) before the month is out. Honestly, if we don’t see a bounce in those come January I will be pretty surprised so in my view the time to pull the trigger in a more serious way has finally arrived…..and boy, has it ever been a long wait!
Birdman,
That makes the two of us in the โI donโt care if gold falls furtherโ camp… and actually I would almost welcome such an event as it would provide an opportunity to buy some more of certain stocks and certain GLD/SLV Calls.
Best to you, and GL investing.
LPG
Good points Boys ! Al can you on block me Franky ?
BIG AL…………UN BLOCK FRANKY……….thanks…………..J……
+1 We luv Franky !
Franky/James: I just spent a great evening with one of your compatriots from Belgium also living in the Middle-East.
You Belgium guys/guys in Belgium rock.
Best to all,
LPG
What do you mean by “The Fed has your back”? Are you suggesting the Fed prints money and buys stocks with that money? To my knowledge, the money printed goes to banks and those banks get to decide what to do with the money. Perhaps, the banks have our backs? I’m just curious what you mean by the Fed having your back because this has been mentioned many times before.
I don’t think FED is buying stocks at all. Information says that they buy futures. So small amount of money has bigger effect.
They can have leverage to the moon. It is not their money anyway.
This doesn’t really answer my question but is insightful, thank you. Where do you find that information about the Fed buying stock futures?
I cannot remember but was mentioned a few times, not in gold sites. Probably you can google fed buys futures. You can get a lot of hits. As for Your question again, I am sure FED does not buy stocks outside of PPT but PPT should be enough to boost the stocks. It might be why the large stocks are rising and smaller ones are lagging.
Yeah. I don’t think the Fed buys stocks or futures. I also think this market has topped and the S&P is heading to around 1910 on this downturn.
In this article (http://nypost.com/2014/10/20/plunge-protection-behind-markets-sudden-recovery/, the author explains how the Fed intervenes to abort corrections and props up the stock market.
It also seems some institutions have discovered that smashing the VIX has a good effect on propping up markets. Easy peasy…
And amazingly, they were, back in mid Oct, APPARENTLY more shares shorted of UVXY that there exist….. amazing.
We really live in “financial la-la-land”… Institutions such as the SEC,CFTC are, IMHO, just a…. errr…..let me think about an appropriate word without going too harsh: j-o-k-e.
Best to all, and GL investing/trading.
LPG
Tom,
Let’s go to the roots….
Who owns the FED ? (ie who are the 10+ shareholders of the Fed)?
The FED = owned by large institutions.
As some say in the Middle-East: “same same but different”.
Best,
LPG
Murk is coming folks. Get ready.
http://www.tfmetalsreport.com/sites/default/files/users/u2/hui_93.jpg
OK, I will bite. What is Murk?
haha…well the definition is to defeat someone badly. To be eliminated or smashed by great defeat. In this context it means gold will get a washed out soon. Gold will get murked.
I was referring to weakness in miners that lead and since they lead and COT does not reflect extreme pain yet final wash out is pending. 1050 here we go baby. lol
Guess I should have checked the slang dictionary first. That’s a new one for me. Have I been outside north America THAT long? I don’t even recognize my own urban slang anymore. I am a dinosaur.
I thought it had to do with axel murk.
THERE IS NO LOGIC…………..MR. AL……………..lol
Same Logic ! https://www.youtube.com/watch?v=ViAKbNCYfQ8#t=390
Irish will like the message in this video……
Thx James – it’s all getting too mind-boggling to comprehend. Best, A
Day are soo organized to control all diss ! Day need trilions !
Off topic.
China is buying oil like mad, more than 100 million barrels a day are heading into China from middle east.
No wonder why Chinese shipping companies’ shares skyrocket in Shanhai exchange.
China is smart. Gold has gone up 79% versus oil since June and is now at a level that will prompt smart people to buy oil instead and/or even sell gold to buy oil.
http://stockcharts.com/h-sc/ui?s=$GOLD:$WTIC&p=M&st=1981-09-07&en=today&id=p61642187752&a=366698528
Gold can still go much higher vs oil so it makes sense to “fade the trade.”
Btw, this development is extremely good for the gold miners.
Yes Matt, but low oil price looks like short lived.
Gold priced in oil ($GOLD:$WTIC) is on monthly buy signals. It is currently over 20 barrels per ounce and overbought, so it could pull back for a while, but it is not going back to 12 or probably even 15 anytime soon. Gold is going to outperform oil for years, though not in a straight line, of course.
I always suspect now Saudi is on the fence. They may want to do some ass kissing to their largest customer and still need American protection. Small country can not have backbone.
Or it could be that the Saudi’s don’t care anymore about America. Maybe they’re looking for a new partner? China, perhaps. Just throwing it out there.
I think it is too early for that. Maybe 20 years down the road. China usually does things extremely carefully. It wouldn’t fight battle it cannot win.
Here is a quote from a Bloomberg article from last month: ”
That may work for Saudi Arabia, which has enough cash and other assets stashed away to withstand oil around $50 a barrel, said Dunham, also former chairman and chief executive officer of ConocoPhillips. But โthe vast majority of the OPEC producers cannot make their budgets and keep their people happy with prices below $80 a barrel.โ
I believe the Saudi’s can hold out longer than their competitors.
Chris, very true. I live in Calgary and we are the oil center of Canada. I have several very senior friends layed off. I also heard yesterday that several small drillers have shut down and many EPC (services) companies are starting to lay off 40 to 75% of the people. I personally know one service company which has completed lay off last month. It used to have around 4-500 people and now it only have 15.
Saudi does not need to cut production, US and Canada will get the cut done in a short period. Due to the spin off of their service departments in the 90s, Canadian oil gas companies are very swift for job cutting with no mercy. Once they halt projects, service companies will have to let people go. Oil gas companies usually can get by but I am not sure this time.
Some of those workers will be temporary foreign workers.
I think some are foreign workers and some are out of province and most are ALbertans.
KSA has been selling oil to China in a growing fashion over the past few years, the same way that its sales of oil to the US has been declining.
What adds value is not only oil but oil derivatives, including petchem products.
In this regard, the largest cracker in China is co-owned by Sinopec and a KSA Gvt-owned entity.
Bottom line:
KSA and China have been doing business for a few years now… China needs KSA in order to diversify its suppliers + get some petchem expertise at home and KSA needs China as an end market to take what the US don’t take anymore…
With all of this, what has got me thinking is that Iran had a few dozens of oil tankers lined-up off its shore, each filed with oil a few months ago. I wonder what has happened to those – haven’t seen anything written on the topic lately.
Best to all, GL investing.
LPG
Lawrence, it’s going to get real messy. Especially when those laid off workers return to their respective province and can’t find a job that pays well, or none at all.
This will probably burst the housing bubble, which will lead to more lay offs in other sectors. What a mess…..what a mess. I guess Harper can always run his Economic Action Plan ads on TV to smooth things over.
We got a long period to act but governments drop the ball. Inter-provincial affairs need federal government to work out. Nobody else can. If oil stays here, Alberta will run out of money and not sure where all the other provinces get their transfer payment. By no action, the gold goose can no longer lay eggs.
Matthew,
I hear you re: sell gold and buy oil.
But please note the following:
although I live in the Middle-East, it is more easy for me to buy 1 oz of gold than spending these about $1200 equivalent in buying 20 barrels of oil. ๐ I don’t really have the storage space… ๐ ๐ ๐
Best to you,
LPG
“Storage space-less”
At the hour chart, gold is very side ways. It’s preparing to sky rocket. Looks like calm before the storm!
AUSTRIA …………..bring back the gold……………zerohedge…….
gold going higher…………………..
We may have reached the tipping point or breaking point, depend on which side you are on.
If there are too many of these request, US probably will just refuse like Jim Rickards predicted.
then those countries are going to be on the hunt……..and the game will truly be exposed for what some already know…………..proof positive, no gold in KNOX., AND the FAKE RESERVE CURRENCY IS TOAST……, and the American people better get some more insurance……..
I think the description of the end game by Rickards makes a lot of sense. He calls for gold confiscation, not American gold but foreign gold held in US.
I agree, with your thoughts……..
When I was a kid that was called stealing and I would have been punished. Now it is called Geo-Politics that, when unscrambled, comes to EGO-Politics.
yeah and it is gonna be stormy indeed for gold!!! ๐
I sure hope your right.
Next week weather forecast for gold is apocalyptic!!
explain……..
THE BIG GOLD CHART …………….HONG KONG UP, LONDON UP,……NY.down.,…..OUTSIDE of America, the world is changing, paper is not trusted.
Am I just getting old and confused? Again you guys refer to an interview with Bob but I don’t see it anywhere.How about posting it since you keep mentioning it?
Your not senile Bird, the other day there was a “Doc” interview with no “Doc”.
That newsletter might be requiring attention?
So there is another website with different audio interviews then? Is that it? I wonder why the link is not posted. How can you sell subscriptions if nobody knows where to go to sign up!!!
Not that I am aware of Bird, Al Cory and Doc decided to do a newsletter, all I was saying is they might be focusing on that.
I guess to get it you need to email Al.
My best gains so far today came from puts on HOG, COST, ANAC, and INDY.
Matt eveyone is having a put orgy. Everywhere I read puts,puts and more puts.
lol
I bought some GDXJ calls today too… ๐
Almost forgot, I also bought calls on OIH and OIL.
Matthew,
Contrarian as often…. I like that attitude…. ๐
All the best,
LPG
Kitco……..says gold higher next week………….WITH 36 experts, 21 participated, out of the 21, only 10 had the guts to say higher,,,6 said lower,,,5 no call………..what a group………………….
Hello J-The Long-OOTB,
It’s relatively “easy” to have guts to say something.
To put money on the line accordingly is a different story. ๐
Best and thanks for this type of info though.
LPG
hello LPG……….concerning” guts”, … My words, should have been, that ……out of 36, …..only 10 , could say ,gold higher.
Gary, are you saying that TLS has been priced in? I am looking at gold companies of TMM, BCM, TV (more silver) and LSG is my choice so far. I am thinking it is still a little soon. I nibbled on CRJ this week and like SVL for silver.
I doubt that CDS on Canadian bonds would be rising with the decline in Canadian dollars.. The bond market is stable with rates lower than the U.S., with the notable exception of treasury bills.
Canadian gold mining stocks are the most heavily shorted stocks on the planet, bar none, so you would want to invest in said jurisdiction where the bond market is stable, the currency won’t go into a crisis, and that they produce oil.
http://web.tmxmoney.com/index_constituents.php?qm_symbol=%5ETTGD
Don’t forget the GDXJ is shedding many positions next week, which may put significant pressure on a few issuers.
Details Tony?
I think we need to see gold over take the price of platinum. It is only at 4-$5 difference in price right now
MARKET ALERT!!!
Dollar is making a engulfing bearish pattern in the weekly charts. Whashout imminent!!!
Interesting. It is my belief the dollar has topped at 89.50 and the Euro has hit a bottom. We could well see reversals come the New Year which is to say the trend will change from a rising to a falling dollar for the first half.
Someone or something dumped medium volumes of GLD, GDX and GDXJ at same time (10:06 am). Strange move!!!
House cleaning.
I wish my wife would try that sometime.
No man, you need a maid. Don’t even bother trying to get your wife to clean. Life is just sweeter when you have help and your sweetie will love you for it.
Prices of many of my watchlist stocks are retreating back to their lows of the day made in early trading. May still buy something today yet (;-)
Have a listen to Gerald Celente.
https://www.youtube.com/watch?v=6q5gqlanZIs&list=PLB1A898E94A412326
I cannot stand this person.
come on Lawrence,,,,,the guy is funny and informative in his own way….lol
That makes two of us, Lawrence. It is all the shouting and theatrics. Put that guy on an ice floe and send him back to sea.
thx Andrew
I could smell the big correction continuing so I sold my large tech purchases yesterday in the pre-market today. The big rally yesterday died out.
Looks like we have topped in the dollar. We may get a retest of the top next month and if we do then the dollar has topped. Tend to agree with GARY to 1280 we go, then probably back down first 2 weeks of January for maybe a retest of gold bottom. Then we get to big, big down in the dollar.
Almost exactly my thoughts Gil. How have you come to the same conclusion? I mean, what makes you say that?
GOLD HELD UP WELL TODAY……………..JMHO…………….`1222 is ok for Friday…., would have like to seen it at 1225…………but, do not want to be greedy.
AL is GONE ! https://www.youtube.com/watch?v=-2IElTsBsMo
AL Is Dreaming happy ! https://www.youtube.com/watch?v=RHXaYxfg1As
Final thoughts on 2014 and beyond…
As we get ready to turn the calendar and put 2014 in the books and look forward to 2015 it is time to take stock on where we were and where we are going.
First I believe and am persuaded my $1212.80 gold bottom call will stand the test of time and will be proven to be correct. After a brief take down below that level gold rallied back sharply and easily to regain $1200.
I think these last years have also proven me correct when I said gold was dead on the board and the parabolic move was over. It took many people far too long to admit to that, and even today there are some that still won’t.
So where are we going?
I must stress I am not a trader so I won’t even pretend to speculate where gold is going short term.
I think though after being in this market 15 years I’ve learned a few things.
First even though I believe the $1212.80 bottom is you’ve never heard me say to the moon.
The truth is gold could languish at these levels for many many months, if not even one or two years. The truth is no one knows.
So if anyone tells you what gold is going to do long term that person is either lying or deluded.
Don’t answer a fool according to his folly. Just turn the other way.
This leads into my next point, don’t think your patience will be rewarded.
Patience is not an investment strategy.
You could be sitting on dead money for years.
Don’t let anyone tell you we need to be patient.
Again don’t entertain the fool.
Third, gold is not insurance. Let’s put this myth to bed once and for all.
No one knows what the future brings, and no one knows how gold will react to economic events. These last three years have proven that. It is an asset class like any other asset class.
Don’t buy the gold is insurance scam.
Also don’t buy the gold is a safe haven myth. Again the last three years have proven this absolutely false.
So after all this you might think I am negative on gold. I am not. I am just being realistic based on my personal observable experience. Real world experience being in the trenches daily.
Don’t misunderstand me, gold could pop in 2015 to new highs.
My point is though no one can really say.
And I don’t care how many fancy charts they throw at you and how much Elliot Wave BS they spout.
These markets are so distorted and so broken old rules no longer apply.
When I said it was time to walk away a few smart Alec’s said that’s a contrary indicator and the bottom is in. They have been wrong for three years.
Besides, I said I was walking away, not selling my precious metals.
I am walking away from the daily barrage of noise on this blog.
I am not a trader, why do I need it.
For those who want to sit on the sidelines until a trend emerges, thats fine.
Then again you might miss the boat.
Bottom Line is gold trades on sentiment, momentum, technicals, not fundamentals.
The easy money has already been made.
AL INJOYS DREAMING ! https://www.youtube.com/watch?v=GWJmpRGwxfU
Patience is absolutely an investment strategy. Many great investors have emphasized it. Thi sis particularly true for gold, which is a highly manipulated market. As long as you are willing to hold long term, you can always run into a period gold bull period. You have to sell off course. However, patience is not the only thing you need. Vision and hard work is other aspects.
If
I am talking about physical gold off course. Thi sdoes not include gold stocks.
You are obviously right, Lawrence.
And Gold is soo beautiful !
James,
Gold is soo beautiful indeed. I concur.
That’s why, when I buy some, I put it in a wrap, put it in a storage place, and never look at it again.
Otherwise I get too emotionally attached to it – which is something I don’t want.
Best to you, and GL to all investing/trading/looking at their gold ๐
LPG
Agreed Lawrence.
And what we also need to do in order to succeed is to buy when it is going low low low, especially when it is close (or below) the AISC of most producers.
Otherwise, if we buy $200/$300 above that level, we are paying for A LOT of risk….
Just my 2cts.
LPG
Gold is absolutely insurance.
+1 Matthew.
The concept of insurance is that we only value it when we use it – ie when a disaster struck.
It’s true that for ex. on a car, if we don’t have an accident for a few years, we might end up thinking we pay insurance for nothing. But the day we have an accident, we typically feel glad we have an insurance, esp. if the accident is serious.
To me, gold is the same logic: it’s an insurance that I might not need for a few years, but that I’ll be glad to have in case a big accident occurs.
Best to all,
LPG
a fool and his money is soon parted…………
fair weights and measures……………
Here is a good one……A guy sells one oz. US gold coin for $12,000 on PAWN STARS. The coin was a gold 1907 double eagle …………. simple terms…………ONE OZ OF GOLD…minted by the US MINT 1907 value at the time for $22 to $35. NOW, lets see……… $12,000 low value,,, real values is $17,000 cleaned(stupid)…..$100,000 uncleaned. I would say that was a nice appreciation.
I am sure the guy did not have any insurance on the coin, since he cleaned it……lol
Was the COIN PCGS ?
NO………ungraded…………………
Gold is gold
Investment grade gold is kind of a hard pill to swallow.
The guy did take a good profit, if, the story is real? Sometimes as seen on TV is , well.. You know
This is for IT:http://srsroccoreport.com/current-price-of-silver-50-based-on-the-historic-oil-silver-ratio/current-price-of-silver-50-based-on-the-historic-oil-silver-ratio/ If you have a lot of silver you may want to find a better place to hide it.
I have an $1100 position on NUGT and a $500 hedge on DUST (my shares up 16% today on DUST).
For those who enjoy currencies I would suggest that now is the time to start watching the Canadian dollar (CAD/USD) with more than casual interest. It is quickly approaching levels not seen since 2008/2009 near the 85 level that I think may be important for precious metals markets.
As some of you know, the Loonie began its current slide just as Gold and much of the commodity sector turned down in early to middle 2011 so there is some precedent where a correlation exists between the groups.
If it does turn up here we may well be getting an indication that precious metals will finally begin to rebound off their bottoms. This is indeed one of the reasons I no longer have much conviction in further downside in metals other than what may transpire over the short term as the final washout completes.
If on the other hand the CAD blows through the bottom our next major support lies at 80 which is close to the long term bottom for the Loonie going back almost 7 years. In such a case this might add credibility to Avi’s belief that another final leg down in metals is coming.
So it is watch and see now I suppose. Just thought a heads up was in order for those who can see relationships to currencies.
That comment was for you DT. Maybe you can pick up the vibe from the heart of downtown Toronto!
It hit 77 in 2008..But miners took off at about the 80/82 level. Id like a bounce soon with gold penetrating the ICL get to 1266/1280 and down one last time into first week of january.
If you plan on buying and holding long term, that’s all the more reason to buy now. GDXJ is half what it was just months ago. I’m with Gary here.