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Agree with you Mr Bond

 Portugal could struggle to avoid a second international rescue even if it, alongside Ireland, is granted more time to repay its existing bailout loans by eurozone finance ministers meeting in Dublin on Friday.

According to Clifford Bennett, chief economist at financial services firm The White Crane Group, the perception of gold among investors has changed but the forces driving the precious metal have not.

He says that once traders with short positions in gold start to unwind their bets, the price of gold should rally as quickly as it fell over recent trading sessions.

(Read More: Market Tumble an Overdue Reality Check? )

"I sincerely believe that the moment the now significant short position holders begin to take profit, that this market will rally at least 50 percent of the fall just seen, just as rapidly," Bennett said in a note.

Disappointing U.S. and Chinese economic news in recent days and fears that Cyprus, and possibly other central banks, could dump their gold reserves have fueled negative sentiment towards the precious metal.

Gold prices have plunged about 16 percent over the past week to hit a two-year low of $1,321 per ounce on Tuesday, later rebounding to $1,367. The market suffered its sharpest ever one-day slide on Monday.

In a bid to stabilize volatility in gold markets, the Chicago Mercantile Exchange Group said it has raised collateral requirements for trading in benchmark gold, silver and other precious metals futures contracts, effective at the close of business on Tuesday.


http://finance.yahoo.com/news/why-gold-bugs-still-hanging-114111520.html

Thanks Mr Bond,

I sold my SGL at R11.20, then bought DRD at R5.70, they produce gold at a lower cost and they are bringing results out 25th April.

I do not see this as long term, I just think that it is overdone. Thus I will sell shortly couple of weeks or so, irrelevant up or down.

PS. Do u not find the "other" site is more about C's lately, CFD's & CML.

Down load this thingy, very nice, it keeps Gold, Silver, plat, Pall and Rho prices running live on your computer at the bottom.

http://applications.kitco.com/supportcenter/taskbar/index.html

They have it for all, windows, doors, appl, Ipods.

Warren Buffet - some things he said that you probably have heard.

“What motivates most gold purchasers is their belief that the ranks of the fearful will grow,” Buffett wrote last year in a letter to shareholders. “During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As ‘bandwagon’ investors join any party, they create their own truth -- for a while.”

“If you put your money into gold or other non-income- producing assets that are dependent on what someone else values that in the future, you’re in speculation,” he said. “You’re not into investing.”

He asked readers to picture the world’s entire gold stock melded together into a cube 68 feet (21 meters) on each side valued at $9.6 trillion at then- prevailing prices. For the same amount, an investor could have purchased all the farmland in the U.S., 16 replicas of Exxon Mobil Corp., and still have about $1 trillion of “walking- around money.”

A century later, the farmland will be producing valuable crops no matter the currency, and dividends from the companies would probably added up to trillions of dollars, Buffett wrote.

The 170,000 metric tons of gold “will be unchanged in size and still incapable of producing anything,” he wrote. “You can fondle the cube, but it will not respond.”

I just think (not good at it though) that gold is oversold, and of course some1 on radio said that the rand will weaken in the 2 years or so.

Also, say I sell DRD tomorrow, where do I put it. That has such a potential recovery ...

The crux of the clip ? Nobody knows the fair value and things could go the other way. Useful eh ? 
Never take the advice posted on forums. 
If you don't trade because like me, you have better things to do than sitting in front of your computer worrying about when to set
stop losses etc. then rather go for stocks like BTI and SAB and Bidvest and APN and hold them through the years. They too will all
benefit from a weakening Rand. (Edit: and CML of course - yield, yield, yield !)
That way you have less worries and more time for gaming, and I have more time for playing with my Linux distros.