gold

lucky-colm

anyone see where gold is going?

i presume that investors are pulling out of bank shares after dubai disastours news and probably getting into gold would i be right in this assumption.

do you think it will rise again tomorrow?

i have an open position on gold at the moment and iam just wondering where it will stop

if indeed it continues to rise

Reginald P. DuM

Not an expert in these matters by no means so I will offer no opinion, just direct ya to this article I just happened to be reading today.

http://www.timesonline.co.uk/tol/money/investment/article6926479.ece

Seems to me it's all opinions and ya never can be sure of who's right because there's always vested interests and agendas afoot. Hope the piece helps.

samson09

lucky-colm wrote: »

anyone see where gold is going?

i presume that investors are pulling out of bank shares after dubai disastours news and probably getting into gold would i be right in this assumption.

do you think it will rise again tomorrow?

i have an open position on gold at the moment and iam just wondering where it will stop

if indeed it continues to rise

Will it rise tomorrow, who knows.

Will it be more expensive to buy this time next year, almost certainly.

Noel 006

Observe the masses and do the opposite! I'm not crazy about trading gold and when I see these adds for Postal Gold etc it makes me wonder are we creating another bubble! A lot of hysteria going on at the moment about gold and yes a lot of big players including India buying huge amounts but I'm still not convinced. In the short term as it is making new highs it is impossible to see where it will go as there are no resistance levels to look to, in the long term I am looking for the Chinese to float their currency, the dollar to make a comback and gold to suffer as a consequence! As far as I can see there is a silent currency war going on between the US and China, will the US win? probably!

zenmonk

What about the increasing price of oil in gold prices? Is there a direct implication?

pocketdooz

zenmonk wrote: »

What about the increasing price of oil in gold prices? Is there a direct implication?

What do you mean?

.

zenmonk

We all know oil is going to go throught the roof in the medium term, does this have an effect on the price of gold? Similar to the way that inflation increases gold prices.

silverharp

zenmonk wrote: »

We all know oil is going to go throught the roof in the medium term, does this have an effect on the price of gold? Similar to the way that inflation increases gold prices.

there is no corellation that works over time. Gold fell in the 90's even though there was inflation, it rose this decade partly because of a weak dollar and partly because it was lifted as part of a commodity bubble. Since 08 its hinting that its decoupling from commodities.
For now my medium term view is that we are in for more waves of deflation so I would expect gold to outperform oil and the Dow etc. in ratio terms.

mervuedude

Gold is on an upward curve and this will continue for some time. Many analysts see gold hitting $1500 per ounce. China and India have recently indulged bigtime in the market and rumours abound that Russia wants to increase it's stockpile by a large amount.

gizmo555

Noel 006 wrote: »

Observe the masses and do the opposite! I'm not crazy about trading gold and when I see these adds for Postal Gold etc it makes me wonder are we creating another bubble!

I've seen this comment made a number of times in different ways in the press and forums like this recently and it makes no sense to me.

Why would mass selling of scrap gold be indicative of a bubble? Surely it's when the ordinary punter wants to buy that the conditions for a bubble exist.

All this shows to me is that a number of firms see a commercial opportunity to buy scrap gold - at a hefty discount to the spot price - which didn't exist a couple of years ago, when the price was too low to make it worthwhile. It has always been the case anyway that many jewellers would buy scrap gold in their shops.

You'll know there's a bubble when High Street jewellers are selling Krugerrands and Sovereigns for investment purposes and your mates are asking you down the pub how much gold you own . . .

Raskolnikov

gizmo555 wrote: »

You'll know there's a bubble when High Street jewellers are selling Krugerrands and Sovereigns for investment purposes and your mates are asking you down the pub how much gold you own . . .

Not true. We had an oil bubble without Joe Soap trying to stockpile barrels of crude. Anyway, most Westerners have been struck so hard by the housing crash that they're hardly in a position to start speculating in gold.

gizmo555

Raskolnikov wrote: »

Not true. We had an oil bubble without Joe Soap trying to stockpile barrels of crude. Anyway, most Westerners have been struck so hard by the housing crash that they're hardly in a position to start speculating in gold.

Wouldn't necessarily agree that the runup in the oil price up to the middle of last year amounted to a bubble. I'm firmly of the view that we'll see $150 oil (and higher) sooner than many expect.

Anyway, Noel seemed to see the current spate of companies buying gold from the public as a sign of a bubble. What I meant was that for a bubble in the sense of a popular mania such as we've recently experienced in Irish property, or as we saw in the dot com boom with shares like Baltimore, one would expect to see Joe Soap (and who better to create a bubble ) buying, not selling.

asmobhosca

Raskolnikov wrote: »

Not true. We had an oil bubble without Joe Soap trying to stockpile barrels of crude. Anyway, most Westerners have been struck so hard by the housing crash that they're hardly in a position to start speculating in gold.

I think the dynamics of the gold and oil markets are not exactly a great comparison.
After all, we are all consumers of oil in many different ways, and often we have no alternative.
Whereas gold is purley an investment or luxury item.
Its a little harder for joe soap to get his head around oil trading.
Someone can easily get a krugarrand held for them physically or take personal delivery.
Who holds/delivers individual barrels of crude oil???

And anyway theres plenty of speculators out there, you dont necessarily need joe soap to create a bubble...

HoolaHoops

Reginald P. DuM wrote: »

Not an expert in these matters by no means so I will offer no opinion, just direct ya to this article I just happened to be reading today.

http://www.timesonline.co.uk/tol/money/investment/article6926479.ece

Seems to me it's all opinions and ya never can be sure of who's right because there's always vested interests and agendas afoot. Hope the piece helps.

hi, interesting article, there are a fair few analysts predicting gold to continue it's bullish rise, however not before a dip. I'm interested in gold at the moment. Is it still worth a punt? another interesting article and magazine with a fair bit of info on gold at the moment. Opinions?

http://www.moneyweek.com/investments/precious-metals-and-gems/golds-still-looking-good-94905.aspx

lucky-colm

gold has increased steadily in the week since i first asked where it was headed

i only had a small bet on this on spread betting of E1 and have made a few hundered quid

so today iam living dangerous and have increased this to E3:eek:

so hopefully onwards and upwards:rolleyes: and see where my E150 investment will bring me;)

Raskolnikov

lucky-colm wrote: »

gold has increased steadily in the week since i first asked where it was headed

i only had a small bet on this on spread betting of E1 and have made a few hundered quid

so today iam living dangerous and have increased this to E3:eek:

so hopefully onwards and upwards:rolleyes: and see where my E150 investment will bring me;)

You're mad, seriously.

mervuedude

Gold still rising, now at $1210. Central Banks all over the world are buying gold for the first time in years. And with so many countries showing huge budget deficits gold can go a lot higher than this, wouldn't be surprised to see it hit $1400 before the winter is out.

Lexus1976

Raskolnikov wrote: »

You're mad, seriously.

lol.........

ixus

lucky-colm wrote: »

gold has increased steadily in the week since i first asked where it was headed

i only had a small bet on this on spread betting of E1 and have made a few hundered quid

so today iam living dangerous and have increased this to E3:eek:

so hopefully onwards and upwards:rolleyes: and see where my E150 investment will bring me;)

If by steadily you mean it dropped $60 in a couple of hours before a reversion to it's climb north, then yes it has moved up steadily.

If you had any more than a eruo I'd imagine your margin would have been called on a spread bet.

lucky-colm

ixus wrote: »

If by steadily you mean it dropped $60 in a couple of hours before a reversion to it's climb north, then yes it has moved up steadily.

If you had any more than a eruo I'd imagine your margin would have been called on a spread bet.

i opened an a/c with ppt a few months back.
i lodged 150E about a week ago and placed a 1E buy on gold i didn't place any stop on the trade.
when my a/c had 450E in it i increased the bet to 3E there is still no stop on the trade.
this morning i had 940E accumaleted and increased the bet to 5E i still have no stop in place it is currently down 100E since increasing my bet this morning and if it continues to drop my stop is zero and i loose 150E.
i don't know where this will go i will most likely loose my 150E but the general concensus is for gold to continue to rise and if it does i will continue to increase my bet size while maintining a ratio of 150-200/1 on available funds in my a/c.

and who knows maybe i will have a nice few quid for xmass:D


edit:
just checked my transaction history and started last friday and bought at 1176.6

ixus

I think you'll wipe out. You've got 30 ticks to play with at 5 euro (without taking FX into consideration) a pop. That's a 3 dollar move. That can happen in seconds.

The reason your 1 euro wsa so succesful was because you had 150 ticks (increments in the price) to play with. I think it moved down 90 ticks at one stage after you bought ($9).

Also, are you sure they stop you out at exactly a 150 loss? I doubt they could get you out at the exact price (they would be heroes). If Gold dropped $10 in a couple of minutes (extremely possible). You would probably get the bill for the additional $7 move. At a fiver a tick on 70 ticks, you're talking 350 euro.

I think you should double check your risks. It looks like it has incresaed significantly.

Good luck

lucky-colm

ixus wrote: »

I think you'll wipe out. You've got 30 ticks to play with at 5 euro (without taking FX into consideration) a pop. That's a 3 dollar move. That can happen in seconds.

The reason your 1 euro wsa so succesful was because you had 150 ticks (increments in the price) to play with. I think it moved down 90 ticks at one stage after you bought ($9).

Also, are you sure they stop you out at exactly a 150 loss? I doubt they could get you out at the exact price (they would be heroes). If Gold dropped $10 in a couple of minutes (extremely possible). You would probably get the bill for the additional $7 move. At a fiver a tick on 70 ticks, you're talking 350 euro.

I think you should double check your risks. It looks like it has incresaed significantly.

Good luck

i have only moved up when i can maintain a 150-200/1 ratio
this morning i had 940E so at 5E a tick thats 188 ticks=$18.80 drop before i blow out

so will they stop it in time? actually never thought about that lol, just presumed that if there was no funds they would stop the bet.

i'am down now to roughly 800E in trading funds, just wondering should i adjust my betsize back to 4E to maintain my 150-200/1 ratio

this is what happens when you have no plan.
or will i loose it on the transactions, allready after giving ppt 25E for placing the 5E bet and now will have to part with another 20E for canceling and placing the 4E bet. if i keep on doing this the whole way down and up paddy makes more than i do.

ixus

Sorry, forgot you were up.

One last thing to watch out for as I type is ECB raets.
Specifically the Meeting at 1.30
You are going to have major volatility, specifically on the euro, then dollar, then, yes, gold.

Watch out 1.30

lucky-colm

ixus wrote: »

Sorry, forgot you were up.

One last thing to watch out for as I type is ECB raets.
Specifically the Meeting at 1.30
You are going to have major volatility, specifically on the euro, then dollar, then, yes, gold.

Watch out 1.30

jeeesssss just took a look iam down 30% since this morning:eek:

so as part of my stratergy i closed that screen:D

what the eye dosn't see the heart won't feel:(

its like living in denial:D

edit:
i reviewed my stratergy shortly afterwards and closed the position down 450E

wing52

Are Trailing stops A) appicable And any use on such short term trades?

ixus

lucky-colm wrote: »

edit:
i reviewed my stratergy shortly afterwards and closed the position down 450E

Are you down 450 overall or 450 from the high of 940 giving you a 490 return on a euro bet with 150 risked? I'd be pretty happy with that return in a coupe of days.

My posts were just to make you aware of the risks of the volatility of gold, especially during rate announcements (or economic data releases i.e. unemployment which is out today in the US).

Anyways, congrats on thep profit.

ixus

wing52 wrote: »

Are Trailing stops A) appicable And any use on such short term trades?

I don't spread bet, but I do believe in using trailing stops.

The problem with them is using them in a volatile market. If you're looking for a big move up/down, you want your stops to be at a bit of a distance so they won't get hit on the volatility, but rather on the change in trend.

Of course, you have to monitor your risk tolerance also.

lucky-colm

ixus wrote: »

Are you down 450 overall or 450 from the high of 940 giving you a 490 return on a euro bet with 150 risked? I'd be pretty happy with that return in a coupe of days.

My posts were just to make you aware of the risks of the volatility of gold, especially during rate announcements (or economic data releases i.e. unemployment which is out today in the US).

Anyways, congrats on thep profit.

yes it was down 450 from the 940
and left a 490 return on a 150 bet:D
yeah so not bad

Arcadiaz

Gold has taken a fair old battering so far today, you got lucky with your timing!

ixus

Oooh, down $40+ as I look at a chart.

I think my "golden" risk advice is worth a few quid......

5% of profits + whatever I saved you from busting through the 150.

If my maths is right, and I round it up a little, I'll call it an even 10 grand.

Bullish

Hey IXUS,
I thought you were not allowed to profit from being a MOD on boards .......
When i look at the chart for GLD I was sure I could hear a PPPSSSSSSS sound....... Is the bubble leaking