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> Gold investment corner V5, Will gold price achieve USD2000 by 2012?

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bcteh
post Aug 29 2012, 10:21 AM

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QUOTE(pubmut @ Aug 29 2012, 09:17 AM)
Here is a recent posting from Robert Kiyosaki for contemplation:

DON’T BUY GOLD OR SILVER

You may have noticed the prices of gold and silver are rising. As I write, gold is up over $30 to around $1,670 an ounce and silver has increased around $1 to approximately $30 an ounce.

I have been a gold and silver bug since 1972, but I do not recommend buying gold and silver now simply because other people are.

The most important thing to do is ask, “Do I understand gold and silver and do I even like gold and silver?” I love gold and silver but I don’t jump in just because prices are going up.

As some of you know, I began buying a lot of gold and silver when gold was under $300 an ounce in 1998. I purchased more when it passed $800 an ounce. For me, $800 an ounce was a benchmark, marking the previous high back in 1979. You do not have to be a math major to know that I doubled my money.

I remain bullish on gold. My view is that gold will be around $3,000 an ounce in less than five years. The problem is that $3,000 an ounce does not double my money from a buy price of $1,600 an ounce. Before I buy again, I better know what is going on in the market.

At present, the price of gold and silver are going up because investors believe the Federal Reserve Bank will announce QE 3. If the Fed does so, gold will push upwards to $2,000 an ounce. Again, $1,600 to $2,000 is not enough to be excited about.

My logic is the same reason I do not buy Apple Stock, even though I love Apple. At $600 a share, a prediction of $1200 a share is not logical. I would risk too much for too little.

If you are tempted to buy gold, silver or Apple, I suggest you find out more about gold, silver, Apple, and global market conditions.

All markets are manipulated. This is why you have to be smarter and know more than just the price or the trend of the price.

As I said, I love gold, silver and Apple. But buying for the sole reason that prices are rising is a silly reason to buy anything. As Warren Buffet said:

“For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don’t understand or because they worked last week for someone else. The dumbest reason in the world to buy a stock is because it is going up.”

Yet that is what most people do and that is why we have so many people in financial trouble.

Just a few years ago, millions of idiots began buying houses because prices were going up. Then in 2007 the housing bubble burst. Today, we have millions of people buying houses at lower prices, many in foreclosure, in anticipation of housing prices going back up. This is nuts. They fail to notice that market conditions have changed and housing prices may not go up. In fact, they may go down again. Prices may go down again when amateur investors, investors who have been chasing lower prices, realize that prices may not be going back up and the cost of carrying their investment property is more than their rental income. Different markets, same idiots.

I do not sell stocks, gold, silver, or real estate. I sell financial education and coaching. To me investing in education and coaching is smart. I continue to invest in my education. As stated in Conspiracy of the Rich: Knowledge is the new money.

Simply put, don’t chase prices. Chase knowledge.

Robert Kiyosaki
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Maybe he don't have much money to invest in gold, that's why profit is small. Thus properties give better profit.

But it make sense for banks and Soros who have few hundred millions and billions.

This post has been edited by bcteh: Aug 29 2012, 10:22 AM
helzboyz
post Aug 29 2012, 10:28 AM

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its been 2 days the price still remain around MYR163, a sign for no further increase?????want to sell, but still waiting the price to go up...already gain RM6...
turion64
post Aug 29 2012, 11:47 AM

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QUOTE(helzboyz @ Aug 29 2012, 10:28 AM)
its been 2 days the price still remain around MYR163, a sign for no further increase?????want to sell, but still waiting the price to go up...already gain RM6...
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if u look at UOB, it's Rm165.50 now..
pisces88
post Aug 29 2012, 01:42 PM

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Lol to me 1600 to 2000 an ounce is very exciting
zest168
post Aug 29 2012, 03:32 PM

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PBB now Sell RM171.47/gm Buy RM164.74/gm ; sold mine and wait for it to drop later and buy back with UOB currently at Sell RM168/gm Buy RM166/gm. Gained RM1200 smile.gif
j.passing.by
post Aug 29 2012, 03:39 PM

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cowboy panda walks into a bar, drink, eat, shoots and leaves.
turion64
post Aug 29 2012, 03:44 PM

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UOB Rate Rm166 now...wow
endau02
post Aug 29 2012, 04:08 PM

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QUOTE(zest168 @ Aug 29 2012, 03:32 PM)
PBB now Sell RM171.47/gm Buy RM164.74/gm ; sold mine and wait for it to drop later and buy back with UOB currently at Sell RM168/gm Buy RM166/gm. Gained RM1200 smile.gif
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must b alot of money..
pubmut
post Aug 29 2012, 04:25 PM

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QUOTE(prophetjul @ Aug 29 2012, 09:30 AM)
biggrin.gif


Added on August 29, 2012, 9:36 am

http://www.tatumba.com/blog/archives/1354
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Prophetjul - I can see that you're not at all impressed with RK. Neither am I but there are some instances in his comments that make sense, although most of them are unabashed subconscious product plugs.

Like the song says, "...buang yang keroh, ambil yang jernih..."

Peace. smile.gif
WintersuN
post Aug 29 2012, 04:44 PM

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fuuu i just soldmine at 12pm now it go up 166 sad.gif

My prediction so bad.. cos i tot it will drop.. wont up for long
joker88
post Aug 29 2012, 04:48 PM

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Next month do u think price will drop or increase?

biggiesmalls
post Aug 29 2012, 04:52 PM

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this friday increase i think
turion64
post Aug 29 2012, 04:56 PM

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QUOTE(joker88 @ Aug 29 2012, 04:48 PM)
Next month do u think price will drop or increase?
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i think it will go all the way up till 180...wahahaha *daydreaming
endau02
post Aug 29 2012, 06:05 PM

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dun mang.. i let go jor

wait for dat fella drop till 160, then i buy
adam09
post Aug 29 2012, 07:04 PM

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why u all think gold price will drop again?
.O.
post Aug 29 2012, 07:20 PM

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QUOTE(biggiesmalls @ Aug 29 2012, 04:52 PM)
this friday increase i think
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mayb, mayb not 50/50 hmm.gif
mbj78
post Aug 29 2012, 09:06 PM

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I plan to sell if UOB gold price at 166.5 by tomorrow
mtsen
post Aug 29 2012, 11:48 PM

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TGG offers Guaranteed 20+%, anyone knows how reliable this is ?

http://malaysiapersonalfinance.blogspot.co...rough-gold.html
EddyLB
post Aug 30 2012, 12:27 AM

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QUOTE(mtsen @ Aug 29 2012, 11:48 PM)
TGG offers Guaranteed 20+%, anyone knows how reliable this is ?

http://malaysiapersonalfinance.blogspot.co...rough-gold.html
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Another Genneva with same scheme ! sweat.gif

1. You pay 25% above market price for the expensive piece of gold
2. They use your 25% premium you paid to repay you back the so called "return/hibah" of 1.7% per month (have to wait > 1 year before you get back the 25% premium)
3. The "guarantee buy back" is not a written guarantee but verbal / usual "business practice"
4. If they don't buy back from you, you have to sell their gold bars/coin to other retailers. Prepare to lose 30-40% discount on the original price you paid

There must be a lot of greedy and stupid investors in Malaysia. So there are many of these gold investment companies emerge now and then yawn.gif

mtsen
post Aug 30 2012, 12:57 AM

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QUOTE(EddyLB @ Aug 30 2012, 12:27 AM)
Another Genneva with same scheme !  sweat.gif

1. You pay 25% above market price for the expensive piece of gold
2. They use your 25% premium you paid to repay you back the so called "return/hibah" of 1.7% per month (have to wait > 1 year before you get back the 25% premium)
3. The "guarantee buy back" is not a written guarantee but verbal / usual "business practice"
4. If they don't buy back from you, you have to sell their gold bars/coin to other retailers. Prepare to lose 30-40% discount on the original price you paid

There must be a lot of greedy and stupid investors in Malaysia. So there are many of these gold investment companies emerge now and then  yawn.gif
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Was geneva like this too ? Thanks for the info !

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