Precious Metals Anyone selling gold?

Discussion in 'Other Asset Classes' started by skyfall, 22nd Jul, 2015.

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  1. skyfall

    skyfall Well-Known Member

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    Is anyone here selling gold or holding on?

    China sold 5 tonnes in a 2 minute window on Monday which has spooked a lot of investors but the price has come back a bit. I'm thinking of selling gold to fund the deposit on a condo I bought o'seas.I'm reluctant to sell AUD to finance the deposit with the low x-rate so I'm thinking of selling gold to pay for the deposit. I wonder if hobo-jo is still holding?
     
    Last edited: 22nd Jul, 2015
    skyfall, 22nd Jul, 2015
    #1
  2. MIZBUF

    MIZBUF Active Member

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    Skyfall-Y ou would be breaking the first rule of investment by selling your gold when it is down ATM-- I can't advise on how you can fund your Condo- but interest rates are historically low now for property purchase .
    J ust for interest . I was in ABC Bullion in Sydney to day & it was Buzzing!! plenty of people in there & phones busy with inquiries. I don't think they were selling
     
    MIZBUF, 24th Jul, 2015
    #2
    380 likes this.
  3. aussieshorter

    aussieshorter Well-Known Member

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    I entered a short trade for Gold through a CFD provider on Monday morning this week, based on last Friday's close.

    So far so good, but I have a guaranteed stop loss in place to limit the downside if the price heads back up.
     
    aussieshorter, 24th Jul, 2015
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

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    Buying.

    The Y-man
     
    The Y-man, 24th Jul, 2015
    #4
  5. HorribleWestie

    HorribleWestie Active Member

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    Buy nickle producers.

    in exactly 12 months i will bump this thread if its dead

    Nickle to rise >75-100%

    you heard it here first.

    Gold to rise as china slows down.
     
    HorribleWestie, 24th Jul, 2015
    #5
  6. Guest

    Guest Guest

    Guest, 25th Jul, 2015
    #6
  7. Waldo

    Waldo Well-Known Member

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    Yes, we are selling gold currently. Also selling copper (about 190kt).
     
    Waldo, 26th Jul, 2015
    #7
  8. radson

    radson Well-Known Member

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    I think i'm getting a bit of a man crush on Ben's blog ...but I like his take on gold.

    "Gold is one of those investments that attracts extreme viewpoints and ideological arguments that favor narratives over substance."

    http://awealthofcommonsense.com/a-history-of-gold-returns/

    Pick a time-frame to suit your narrative.
     
    radson, 26th Jul, 2015
    #8
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  9. Till Kingdom Come

    Till Kingdom Come Well-Known Member

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    Gold bugs have a cult belief that their pet rock will grow in value always.

    That's despite the yellow rock not earning any interest, rent, dividends or franking credits. And you have to pay for custody.
     
    Till Kingdom Come, 28th Jul, 2015
    #9
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  10. The Falcon

    The Falcon Well-Known Member

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    I've been meaning to pick up Carlson's book, you just spurred me to order on book depository :)
     
    The Falcon, 29th Jul, 2015
    #10
  11. abbyfresh

    abbyfresh Well-Known Member

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    If it gets back down to 1200 then it would be worth buying some if you can handle the storage part.
     
    abbyfresh, 29th Jul, 2015
    #11
  12. The Falcon

    The Falcon Well-Known Member

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    @abbyfresh I've got another blighter due in October, so like the first one will buy her 1oz bar....at the same time I'll put aside 10 berkshire B shares in our account..she can get both on her 21st :)
     
    The Falcon, 29th Jul, 2015
    #12
  13. Zenith Chaos

    Zenith Chaos Well-Known Member

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    Compare the value of an ounce of gold and $1500 dollars today.

    What happens if deflation occurs making the $1500 cash worth significantly less?

    Compare intrinsic values.

    Gold is a hedge against SHTF type scenarios in my opinion. Ask the people of Argentina. As investment vehicle it has very poor performance compared with almost any of the financial instruments discussed in this forum. But for a measly $1500 you can buy something that may feed your family when $1500 will not.

    ...and I would not sell gold. It is only kept for reasons above. Do not trade its volatility because its price is controlled by a group of men in suits in a boardroom in London. Obviously if you know one of said men and have information then do as you see fit.
     
    Zenith Chaos, 1st Oct, 2015
    #13
  14. skyfall

    skyfall Well-Known Member

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    Well I sold 80 maces at a loss to help cover my condo down payment and just my luck the POG bounced back soon after : (
    But I've got a shedload of SBM stock bought at .46 so I've got that going for me
     
    skyfall, 9th Oct, 2015
    #14
  15. radson

    radson Well-Known Member

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    My understanding is that the people of Argentina are much more reliant on having USD than gold.
     
    radson, 10th Oct, 2015
    #15
  16. Zenith Chaos

    Zenith Chaos Well-Known Member

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    Zenith Chaos, 11th Oct, 2015
    #16
  17. radson

    radson Well-Known Member

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    My understanding is that the US halted QE3 at the end of the 2014 and there has been no gold standard since Nixon.
     
    radson, 11th Oct, 2015
    #17
  18. DanW

    DanW Well-Known Member

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    What LVR can we get on gold holdings?
    I wouldn't mind holding some for SHTF if only I could redeploy at least part of the capital elsewhere.. No yield is painful
     
    DanW, 11th Oct, 2015
    #18
  19. Zenith Chaos

    Zenith Chaos Well-Known Member

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    Yes radson. Google is our friend. Watch this video:



    Would you accept the ious?
     
    Zenith Chaos, 13th Oct, 2015
    #19
  20. The Y-man

    The Y-man Moderator Staff Member

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    Not technically direct holding but GOLD ETF allows margin lending to 60%.

    The Y-man
     
    The Y-man, 13th Oct, 2015
    #20
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