Gold plunge, sell or hold?

[hyenergix]

I was going to buy, what e heck, today it bounces back above $1600.

[devilplate]

I was going to buy, what e heck, today it bounces back above $1600.

Can buy now bcoz gold can hit 3000 within few yrs.... Jadey says so

[howgozit]

Can buy now bcoz gold can hit 3000 within few yrs.... Jadey says so

what... 3000 only? I thought Jadey said 4000...

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http://forums.condosingapore.com/sho...878#post190878

"how fast gold goes up will depend on how quickly US$ depreciate.

Unless we have a global currency to replace US$, else I dont think there is anything that can prevent gold from hitting 4000 in the next 5 to 10 years."

[devilplate]

what... 3000 only? I thought Jadey said 4000...

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http://forums.condosingapore.com/sho...878#post190878

"how fast gold goes up will depend on how quickly US$ depreciate.

Unless we have a global currency to replace US$, else I dont think there is anything that can prevent gold from hitting 4000 in the next 5 to 10 years."

Tks for the correction...hehe

Just buy la! 4000! Now 16xx cheap cheap lelong

[ysyap]

I was going to buy, what e heck, today it bounces back above $1600.

Buy or not is a very personal choice... it'll look like a steal if it bounces back to 18xx in next couple of months. Gold price is flunctuating primarily because the other investment options in market are increasingly improving. Gold will pick up again once Greek defaults next month (just my guess).

[DC33_2008]

Buy from where? UOB?

Buy or not is a very personal choice... it'll look like a steal if it bounces back to 18xx in next couple of months. Gold price is flunctuating primarily because the other investment options in market are increasingly improving. Gold will pick up again once Greek defaults next month (just my guess).

[mygeemeel]

Buy from where? UOB?

Buy from Mustafa.

[Regulators]

Sekali mustafa mix fool's gold with real gold

Buy from Mustafa.

[ysyap]

Cheap TVs, cheap radios, cheap gold bars! LOL!

[hyenergix]

Can buy now bcoz gold can hit 3000 within few yrs.... Jadey says so

Impossible to me, unless there is a major war or the financial system is collapsing. Beware of buying physical gold in the form of jewellery if it is for store of value rather than for gift. I'm not a gold expert, just have a keen interest in the glittering metal.

[Laguna]

If u want high leverage, the go for spot or comex gold
Looking at the way it moves, high chance of testing $1500..

[hyenergix]

Whether UOB lowers its price when gold hits $1500 is another question. Why other banks are not selling physical gold?

[devilplate]

Whether UOB lowers its price when gold hits $1500 is another question. Why other banks are not selling physical gold?

Uob do adjust their gold rates accordingly....but of coz big elephant spread la

[DC33_2008]

Do you know the procedure of the purchase? Is it like buying physical gold from a goldsmith shop? Just pay cash and collect the gold bar.

Uob do adjust their gold rates accordingly....but of coz big elephant spread la

[hopeful]

Do you know the procedure of the purchase? Is it like buying physical gold from a goldsmith shop? Just pay cash and collect the gold bar.

Funny thing happen to me once. I bought a 1kg gold bar from UOB and received a gold bar casted in Indonesia. I asked the teller about it. She says its ok. Just don't remove the seal.

[DC33_2008]

Only accept SGD? How about US$?

Funny thing happen to me once. I bought a 1kg gold bar from UOB and received a gold bar casted in Indonesia. I asked the teller about it. She says its ok. Just don't remove the seal.

[gap969]

Since u mention u need to pay interest, most likely will be the spot gold rather than Comex gold. I dun trade spot gold. But u need to check, if u need to pay interest, which I think is 2%, but not sure whether it is per month or per annual, whether compounded or not, is it on the margin or contract sum? U also need to top up margin call if needed.

There is another indicator for gold traders. This is the price difference between gold price and gold mine stocks. Historically, these two indexes were very very close to each other. Recently, due to the sharp drop of equity, the disparity is 30% (this reading was taken two weeks before when I did the research), too big to be in the comfort zone. Equity will be down further...so...to close the gap, gold must go down to close the gap..

for u, I can only borrow one famous phrase
"I duno what to say"

If via POEMS it would be spot gold and yes they have a finance charge on long positions which is charged daily.

Stick to trading gold on COMEX or even TOCOM
And if you are doing long term do the monthly rollover of position.

[Montaigne]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

[amk]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

Cheer up, dun feel that way. U already long on a pte property rite ? So this gold is more like a hedge for you. If the global financial crisis really happens, gold will go above ur level, u should be able to profit from that. If everything eventually turns out well, crisis averted, ur pty value will continue to go up. Ur total position is probably not much different. It's a hedge not a gamble.

[Laguna]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

Let think from another angle
1. it is better to make a mistake while ur young than old
2. u hv the understanding from your family
3. the lesson is costly and painful but it worths its value in your life long

It is nvr too late..just move on....
I had even made much more costly mistakes before in trading....

[Montaigne]

Let think from another angle
1. it is better to make a mistake while ur young than old
2. u hv the understanding from your family
3. the lesson is costly and painful but it worths its value in your life long

It is nvr too late..just move on....
I had even made much more costly mistakes before in trading....

Thanks, I will move on. Just felt quite upset that the savings that I have accumulate over these few years of work just gone like that.. I upset my family becos of this. Quite sad. I am glad that they are quite forgiving despite knowing that we need to trouble them to stay with them for another year or so.

[hyenergix]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

Staying w in laws is good, bcoz everyone can take care of each other. Buy phy gold is safer bcoz u need 100% cash tt ensures u can afford n it is always urs in times of needs. Juz work harder to recoup e losses. If u r young, time is money. U will have plenty of money again.

[hopeful]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

buck up, continue playing with gold and silver.
If you stop playing, you cannot recover the losses.
you want to be middle income all your life?

always remember, there is no difference in lifestyle between a person with assets $1mil and a person with $2mil. but there is a difference with a person with assets with $10mil.

those who bought gold at peak in 2008 (just before the crash) is smiling now. the next gold peak will be higher than 1920.

[august]

My property dream crash for the moment.. My family just knew about it. Was too rash and hoping for quick profit via spot gold. Now cashflow got problem cannot fund the initial cash deposit. Have to stay with in laws for maybe another year or two if I really lost all the $$......Costliest mistake ever made...

is it that costly? cos gold spot went down but USD(against SGD) went up mah

[Laguna]

buck up, continue playing with gold and silver.
If you stop playing, you cannot recover the losses.
you want to be middle income all your life?

always remember, there is no difference in lifestyle between a person with assets $1mil and a person with $2mil. but there is a difference with a person with assets with $10mil.

those who bought gold at peak in 2008 (just before the crash) is smiling now. the next gold peak will be higher than 1920.

can u give calls to her/him to guarantee return?
even huge hedge funds making losses....
if he continues, he may end up with loan shark and divorce as well

[DC33_2008]

As you see he is hopeful.

can u give calls to her/him to guarantee return?
even huge hedge funds making losses....
if he continues, he may end up with loan shark and divorce as well

[hopeful]

is it that costly? cos gold spot went down but USD(against SGD) went up mah

if he is playing with Phillips, Montaigne is using leverage, US$1 movement in spot gold = US$100 profit/loss.
so if spot gold drop by US$200, he is looking at a loss of US$20,000 per lot. in addition with usdsgd move from 1.2x to 1.3x, his gold losses is multiplied by the currency losses, i would say Montaigne is looking at some serious loss.

[gap969]

if he is playing with Phillips, Montaigne is using leverage, US$1 movement in spot gold = US$100 profit/loss.
so if spot gold drop by US$200, he is looking at a loss of US$20,000 per lot. in addition with usdsgd move from 1.2x to 1.3x, his gold losses is multiplied by the currency losses, i would say Montaigne is looking at some serious loss.

This within the span of 1 week

[DC33_2008]

High gain comes with High risk. The important thing is to learn from mistake and move on to become more cautious in future.

This within the span of 1 week

[gap969]

High gain comes with High risk. The important thing is to learn from mistake and move on to become more cautious in future.

Remembered trading gold futures 8 years ago when average true range in a day was $1 or $2, to be able to make $5000 out of a 1 lot position, sometimes have to hold for 2/3 months

Now a days these amounts can be made or loss in minutes