Author Topic: Gold & Gold Shares  (Read 44822 times)

jaDEB

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Gold & Gold Shares
« on: April 03, 2013, 10:33:17 am »
Gold Price is hurting me....... :o

How do I insert pic, tried the insert image above...

jaDEB

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jaDEB

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Re: Gold & Gold Shares
« Reply #1 on: April 03, 2013, 10:35:57 am »
Never mind, it is there.......
jaDEB

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jaDEB

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Re: Gold & Gold Shares
« Reply #2 on: April 03, 2013, 10:37:36 am »
Wait, it says I am newbie, that means Noob..... ::)
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Patrick

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Re: Gold & Gold Shares
« Reply #3 on: April 03, 2013, 10:52:48 am »
Ok so now it says I've just arrived instead of newbie. The default groups go as follows, feel like inventing some clever and fun names?


Name   Stars   Members   Required posts    Modify
I've just arrived   8   0   
Jr. Member      0   50   
Full Member      0   100   
Sr. Member      0   250   
Hero Member      0   500   

jaDEB

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Re: Gold & Gold Shares
« Reply #4 on: April 03, 2013, 10:59:59 am »
Just kiddin, Newbie was fine. Reading "Hero" member. I assume u also a gamer?

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Nivek

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Re: Gold & Gold Shares
« Reply #5 on: April 08, 2013, 06:10:38 pm »
$1550 seems to be a strong support. Honestly I'm surprised it's dropped this low. I would have thought with the Cyprus trouble people would want to be in gold.

Moonraker

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Re: Gold & Gold Shares
« Reply #6 on: April 10, 2013, 01:57:17 pm »
I suppose 'no pain no gain' doesn't apply here ?  :)

Goldman Cuts Gold Price Forecast Through 2014 as Cycle Turns

Quote
The turn in the gold price cycle is accelerating after a 12-year rally as the recovery in the U.S. economy gains momentum, according to Goldman Sachs Group Inc., which reduced forecasts for the metal through 2014.

The bank cut its three-month target to $1,530 an ounce from $1,615 and lowered the six- and 12-month predictions to $1,490 and $1,390 from $1,600 and $1,550. Goldman recommended closing a long Comex gold position initiated on Oct. 11, 2010 for a potential gain of $219 an ounce, analysts Damien Courvalin and Jeffrey Currie wrote in a report today..

Remember, when times are really s#*t, who will have the dinero to buy the friggin stuff ? Only for barter then my friend.  ;)
« Last Edit: April 10, 2013, 02:03:26 pm by Moonraker »

jaDEB

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Re: Gold & Gold Shares
« Reply #7 on: April 10, 2013, 02:30:49 pm »
Thanks Mr Bond, a financial oke on radio said that although the rand is strengthening in the short term, they predict it will be gradually weaken in the next couple of years. I have DRD and SGL which is Rand / Gold. But yes I agree with u, my investment is short term on these ones.

PS. WTF is Ms Moneypenny and Mr Bond doing things on same chat sites. R both u?
jaDEB

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Moneypenny

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Re: Gold & Gold Shares
« Reply #8 on: April 10, 2013, 03:13:41 pm »
jaDEB, not sure what you're asking, but no :)

Moonraker

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Re: Gold & Gold Shares
« Reply #9 on: April 10, 2013, 03:24:33 pm »
PS. WTF is Ms Moneypenny and Mr Bond doing things on same chat sites. R both u?
Nope, sorry JaDEB.  :-\

Moonraker

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Re: Gold & Gold Shares
« Reply #10 on: April 11, 2013, 01:22:25 pm »
A plausible reason why gold shares have performed so dismally, may be due to Gold ETF's where investors can participate directly in movements of the gold price without the risk inherent in individual gold stocks where you get cost miscalculations, labour issues, poor decisions by management etc.
Then we have the probability of the FED throttling or discontinuing quantitative easing, not right now, but it must happen sometime.

So, jaDEB, maybe rather go for Gold ETF's. Can't help out there as I am not familiar with what is available out there.

jaDEB

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Re: Gold & Gold Shares
« Reply #11 on: April 11, 2013, 03:18:51 pm »
I agree Mr Bond, I hope that my SGL and DRD gets into profit. Then I will climb out. Saying that SGL I bought due to split from Goldfields and it has a PE of 2.5 and they indicated that they want to end up being 1 of the highest divvie payers. Also off course, I might think some1 in the east's finger is itchy and they might just, might just press red button.
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Nivek

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Re: Gold & Gold Shares
« Reply #12 on: April 13, 2013, 07:58:45 pm »
Here's a very interesting article where the author speculates that the gold price may be busy being manipulated: http://opinion.financialpost.com/2013/04/13/its-a-mad-mad-market-world/

Quote
In the past, the fearful have bought gold and driven up bullion prices to nearly US$2,000 an ounce in recent history.

What’s curious is that gold prices have ebbed, the bitcoin is not a viable alternative and yet fears remain. Even worse is that the debt and currency contagion has spread and the world’s four biggest economic entities – the U.S., EU, China and Japan – are printing and piling on debts with frightening speed.

So why isn’t gold at US$4,000 an ounce?

One bearish factor this week was Goldman Sachs’s downgrade of its gold price forecast for the second time in weeks. Commenting that “conviction in holding gold is quickly waning,” Goldman’s forecast is an average of $1,545 an ounce in 2013 and $1,350 in 2014.

Gold bugs claim that a conspiracy exists to dampen gold’s values. One of the theorists is Reaganomics guru Paul Craig Roberts, former Assistant Treasury Secretary.

This week he wrote: “Financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices. When gold hit $1,900, the Federal Reserve panicked because they realized with the dollar deteriorating so rapidly, compared to bullion prices, that soon it would also deteriorate its exchange value with other currencies. The Fed had to cap the price of gold and stop the rise.”

It’s certainly one explanation as to why gold is down given eurozone, Japanese, American and now Chinese woes. But another is that speculators have been dumping gold ETFs and flooding into the U.S. dollar, U.S. equities and the US-dollar denominated bonds.

The Yankee dollar has become a safe haven again.


Moonraker

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Re: Gold & Gold Shares
« Reply #13 on: April 13, 2013, 08:14:50 pm »
More here, Nivek.



Moneypenny

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Re: Gold & Gold Shares
« Reply #14 on: April 14, 2013, 09:36:02 am »
 Gold closed at 1,476, who could have guessed. :o