08 July 2015

Gold’s strength in face of market sell off, is the bottom in?


“Gold is strong,” I hear you ask, “are you crazy?” Yes, gold fell just below $1150, but in relative terms  think it performed OK over the past 24 hours.

3 comments:

  1. Don't follow the herd into the mistake of only buying during uptrends and selling anything that falls. Gold - real metal, not paper - will rise precipitously in the case of some extraneous credit event disaster (which is a certainty at SOME approaching point)...if your investment timeframe permits, why not buy NOW, when fundamentals are screaming for one to do so...?

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    Replies
    1. because you may well be able to buy more Gold for the same amount of money at some stage in the short-medium term future if current trends persist

      Bron's article opens the debate about whether such a trend persists, or whether it has run its course; the Jury is out at present, and recent events such as Cyprus, Greece and Ukraine appear to have had no beneficial impact on the Gold price.

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    2. The chance of a very sudden, explosive and then continuing climb in price greatly outweighs that of a further counterintuitive and fundamental-denying drop in "the gold price". Does anyone in his right mind really believe that a further price drop is in any way justifiable or likely from here?

      If I didn't already have a lot of metal, acquired at far lower prices years ago, I'd seize the day and buy now. Herd-followers will all be trying en masse to get through that small door into The Gold Room when the wheels of credit do come off.

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