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Thread: Gold plunge, sell or hold?

  1. #1
    Newbie

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    Default Gold plunge, sell or hold?

    Dear peeps, I need advices. I bought 2 lots of gold at $1770 when it falls from $18XX. Now gold prices dropped to $1650. If I sell, I will realise a loss of about 10k. If I hold, I risk a margin call at a price of $1200, as I have $50k buffer in the futures account. So if I really hold and gold price drop to $1200, I will lose $50k. I am planning to hold for a year or two and wait for price to rebound, interest rate per lot is $1k per year. How is your view on this? Please help. Thank you.

  2. #2
    Junior

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    Jadey is the gold expert.

  3. #3
    Exalted

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    Will qe3 help to push up gold px again?

  4. #4
    Newbie

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    my two cents, if you are seeking advice from forum on gold futures, it is best to stay out from the market.

    i used to make money on corn futures. i liquidated all positions once i realised that i made money cos i was just lucky, too lucky.

  5. #5
    Senior

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    The gold chart looks ugly. Was thinking of of a put on gold, but the premium was pretty high. The $100 drop in gold last Friday was a bit of a surprise.

  6. #6
    Senior

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    Quote Originally Posted by Montaigne
    Dear peeps, I need advices. I bought 2 lots of gold at $1770 when it falls from $18XX. Now gold prices dropped to $1650. If I sell, I will realise a loss of about 10k. If I hold, I risk a margin call at a price of $1200, as I have $50k buffer in the futures account. So if I really hold and gold price drop to $1200, I will lose $50k. I am planning to hold for a year or two and wait for price to rebound, interest rate per lot is $1k per year. How is your view on this? Please help. Thank you.
    If u can convert to real certified gold, u can pm me as I'm planning to buy some physical gold ;-) At a discount...

  7. #7
    Newbie

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    If you play with margin, pls remember money management,chart n emotion. I think gold hv a strong support at 1400. But when stock crash gold will follow...remember when 2008 gold also drop.

  8. #8
    Newbie

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    Quote Originally Posted by Montaigne
    Dear peeps, I need advices. I bought 2 lots of gold at $1770 when it falls from $18XX. Now gold prices dropped to $1650. If I sell, I will realise a loss of about 10k. If I hold, I risk a margin call at a price of $1200, as I have $50k buffer in the futures account. So if I really hold and gold price drop to $1200, I will lose $50k. I am planning to hold for a year or two and wait for price to rebound, interest rate per lot is $1k per year. How is your view on this? Please help. Thank you.
    Doubt it will correct to $1200. Hold. 10K you lose now can last 10years?

  9. #9
    Exalted

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    Quote Originally Posted by 1000g
    Doubt it will correct to $1200. Hold. 10K you lose now can last 10years?
    Futures r not meant to buy and hold

    Only those who bot physical gold to hold

  10. #10
    I sell Cheese Pie

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    If you are asking for such advice in a property forum, thench you shouldn't be trading gold at all. Sell.

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