I figure the low 1600s would be a good entry point, maybe around 1630 level?

Based on the current movement, and based on the fact that there is an unfilled gap around the 1670 level.

One day in future, it will swing daily $100 each way........... 

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Added on September 21, 2011, 7:43 am
Past few months?  Go look at 2008...... 

$1000 DOWN to $681 

Market situations like this will be found to have held and created bear traps in several instances of similar pattern action over the past 30 years WITHOUT having continued further down to first major support. The current corrective pattern over the past 23 trading days strongly implies that the move below $1690 would continue on down to the core at $1665 at minimum as first bottom, and in the extreme to $1615, but not below $1584. This will happen prior to exhaustion and a return to the full bull trend.

So far the remaining successive levels of $2450/$2510; $2850/$2900, and $3280/$3330 are not affected.

What Does Risk Management Mean?
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals. For example, the recession that began in 2008 was largely caused by the loose credit risk management of financial firms.

Read more: http://www.investopedia.com/terms/r/riskmanagement.asp

Now, I believe many of the investor here do not look at charts. Thus, I'm going to share with you a very simple method to manage your risk by just looking at price.

1. Every time the gold price makes a daily new high, take note of the price. (eg: $1800/oz)
2. I have decided to use my risk factor of 5% (please determine your own factor) to determine my cut off point (eg: $1800 x 5% = $90/oz). This means if the price does drop below $1710/oz, I am going take what ever profit/losses I have.

This method will help you to ...
i) cut loss when you are wrong (cut loss can means profits or losses)
ii) maximize profits when you are right

This method weakness ...
i) This will work very well if you bought gold at a very good position.
ii) If market is going to move sideways such as in 2008, you will loss a lot of money instead.

My disclaimer ...
i) Trade at your own risk using the method i just shared.
ii) Read i) again!

Thus, I still suggest to learn a little bit of technical analysis. Even simple moving average can help to make a good trading decision.

If you want to be successful in the business of trading, you have to take the time to gain the education and experience and make your own decisions. Sounds like every other business doesn’t it?

Nonsense, who tell u that?? Your friend is a SVP of the commodities division of Morgan Stanley or what? How can you claim to know any tipoff or whatever....baseless rumors.

Mind you, I'm not saying it won't drop further but your fearmongering is not doing this forum any favors.

Understand the chart. What kevyeoh said is right. Gold only gain much after 2006 due to inflation.

I am still remember about my blog posting on 5th Sep 2011 (at that time GOLD PRICE reach at USD 1900/Oz) which I qoute from another website... regarding the topic ofWHEN SHOULD YOU SELL YOUR GOLD??? People mentioned this as an idiot conman and rubbish statement. But if WE (including myself) follow the advice, we could get some profit.

And today, we must wait for the gold price to reach at USD2000/Oz and the target date still DOUBT? but those who follow the advice, I am sure now he is getting more profit and can top up more gold to his pocket.

What rubbish is this? Bottom out in matter of days and hours? Look at the chart for past year.......
Then he tells you to sell? How to sell when it bottoms and swings upwards so fast??????
He contradicts himself!



Its obvious this idiot conman is trying to get you to sell yer gold to him/her

If you are hanging on to your old gold jewellery, gold scrap, gold coins, or other gold items, unsure of whether or not to sell them for cash, then don’t wait too long – you may be disappointed with your cash return. Gold is selling at historic highs at present, but no one knows when the price will start dropping. By selling your gold now, you can take advantage of these high gold values. If you wait, it may be too late.

The most convenient and easy way to sell your gold is through an online gold broker. Using an online gold broker to get cash for your gold eliminates the need to search for a reputable local gold broker, which may be difficult to find in smaller markets and rural areas, while also saving you time and money.

Selling your gold to an online broker is a safe, secure method of getting cash for gold while the value of gold is still high. It’s as simple as contacting the gold broker, requesting a gold kit, and dropping the insured mailer in your mailbox. The gold broker will then give you an appraisal for your items, and if you decide to sell, the broker will then make payment for your gold.

wow, bro, you are taking it very personal. not a good way.

Why must you people arguing on a topic that helps us earn money. 

Try post something beneficial please, what can you gain from flaming other's post 

Why do people still believe in these investment banks after GFC. We all know their predictions are always off the mark.
Really don't understand.

This thread is slowing down after price drop...

I dont understand why gold price keep increasing as USD also increase.

I check 2001 Kijang emas price is RM1000.
Now is RM5000.

If I bought 5 kijang emas at 2001 at RM5000, now I have RM25000.

Imagine if I bought 25 or 100 kijang email.. fuiyoh....

kinda stupid rule for them to only tax on silvrr coins. maybe i will get gold bars and silver bars for the moment. plus some paper gold and silver too. lol

exactly... but i think u meant silver coin. not gold. lol...

So what you said is everyone here should shut up and listen to you then? Look who's running the show now? Good luck with your attitude. I can show this face to you too.
You still here? Hah!

This is a forum, my reply is not meant for you only.

When you can invest smartly and enjoy the benefit, why waste it on being in denial and keep bank on the notion that in n years time, you will get back your profit when you can get it back without waiting that long?

News and technical analysis alone does not give you the whole picture where gold is heading.

Since gold forum v1, I have learn from forumers here to trade smart, if you are smart enough to come online, then I am sure you have the ability to think,research and make proper judgement.

Gold can be bought with money but when gold's value drop, you cant eat your gold can you? Everyone can see for themselves the volatility of gold.

To newcomers trying to invest on gold, don't always give yourself the excuse that "after n years, I can recover the lost".

Trade smart,not blindly.

=bigwolf:Posted Yesterday, 11:18 PM

For me I only invest in gold long term with money that I can afford to lose. For those that I can't afford to lose, I put into safer & less risky investments. I'm not a smart trader coz I'm not that smart, period  That's because for all I know, by trying to trade smart I might end up keep on buying high and selling low and losing even more money. Hey, although can afford to lose, its still better to profit than lose ma

Therefore, I shall hold and wait for that "n years" to recover the loss. Unless someone can show me a better alternative that's worth enough to even liquidate my gold holdings at a loss now?