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 Gold Investment Corner V7, all about gold

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hey_there
post Sep 17 2013, 05:03 PM

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QUOTE(prophetjul @ Sep 17 2013, 04:46 PM)
No.
Just as when I bought, I had no target.

It was the numbers and situation of the financial outlook which prompted me to go in....and that was after I started studying
gold in 1999 and first bought in 2002.

The present numbers and world financial situation do not prompt me to sell, just yet.
*
what's the quantity? do u mind sharing?
hey_there
post Sep 17 2013, 05:24 PM

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QUOTE(prophetjul @ Sep 17 2013, 05:08 PM)
TOO Much!  biggrin.gif

In todays value, its about 20% of my investment portfolio.
*
u bought it from bank's GIA? they have GIA in 2002?
hey_there
post Sep 17 2013, 05:40 PM

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QUOTE(prophetjul @ Sep 17 2013, 05:39 PM)
No

No GIA thos days...........just plain solid gold pieces
*
you mean physical gold?
hey_there
post Sep 18 2013, 12:07 AM

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QUOTE(lamode @ Sep 17 2013, 11:44 PM)
SL at 1260 and target 1380.

price now 1310 again.
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What is SL?
hey_there
post Sep 18 2013, 10:33 AM

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QUOTE(prophetjul @ Sep 18 2013, 07:19 AM)
Yessum
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where did u usually buy them? as a physical gold investor, will u afraid of the problems in selling them? does looking for buyer is a problem in liquidating ur gold?

btw, 1294/oz now drool.gif getting my money ready to buy more...
hey_there
post Sep 18 2013, 10:39 AM

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QUOTE(prophetjul @ Sep 18 2013, 10:36 AM)
The Kijang gold coin...........no problem selling bk to Maybank
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oooh kijang. smart you.. biggrin.gif
hey_there
post Sep 18 2013, 11:09 AM

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QUOTE(prophetjul @ Sep 18 2013, 10:40 AM)
And you can buy

Maples, Pamps, Nuggets from UOB as well...........no problem    thumbup.gif
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haven't purchase any physical gold before. only physical silver at the moment
hey_there
post Sep 18 2013, 11:17 AM

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QUOTE(yan7 @ Sep 18 2013, 11:10 AM)
hey_there, how long do u think gold price will rebound back?
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i dont know. but logic tells me that the price wont stay low for long. ppl will rush out to buy when the price is low and thus affect the price. again, gold is unpredictable. anything happening in the world could have easily affect the price. should ask many sifus here... biggrin.gif
hey_there
post Sep 18 2013, 11:25 AM

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QUOTE(yan7 @ Sep 18 2013, 11:18 AM)
after FOMC meeting?
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i have no idea. dont forget about syria. a bit of threatening from US could push the price up. for short, gold is unpredictable. buy at ur comfortable price. dont put all ur money at once. that's how i do it. i started paying attention to gold price in august. so i'm very green to comment on it. maybe any sifu here can advice u better?
hey_there
post Sep 18 2013, 03:45 PM

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QUOTE(AVFAN @ Sep 18 2013, 02:30 PM)
all the qe/bond buying in the past years = lots of liquidity, lots of new usd money floating around = weak usd = high gold price.
add the hedge funds/etfs piling on gold = incredibly high gold price.

etfs have since pulled out, gold price dropped.
if qe tapers, usd will strengthen, gold price will drop further.
the uncertainty is how sharp is the taper, fast taper or slow taper or zero/never taper?
that will depend on fed's view of us economy, whether it is recovering, pretty sick or very diseased.
whatever it is, the usd is not going to get weaker than most currencies. as we all can see, after trillions of new usd, a usd sneeze sent rupees, rupiahs, bahts and ringgits down the drain quickly. see how weak some currencies actually are?
*
im confused. so QE will strengthen or weaken usd?
hey_there
post Sep 18 2013, 03:57 PM

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QUOTE(AVFAN @ Sep 18 2013, 03:51 PM)
qe theortically weaken usd since there is more and more usd around.
qe taper, i.e. gradual reduction shud then strengthen usd.
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will they actually reduce the money that has already been circulating? like dispose the paper dollar?
hey_there
post Sep 18 2013, 05:20 PM

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QUOTE(AVFAN @ Sep 18 2013, 04:08 PM)
no... qe taper means reducing the size of the continuous easing. not reducing the actual money in circulation.

usa's qe has more to do with new money buying back old bonds. google n u will find a couple of nice videos that explains it.

many countries do that, incl japan now. which currency strong or weak, it's all relative - which currency is in higher or lower demand.
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One more question:

"FOMC is expected to announce a $10 billion reduction in the monthly pace of its quantitative easing purchases, or QE, "

Does this mean the US will taper $10bil or reduce QE by $10bil and thus will prevent usd from weakening?

This post has been edited by hey_there: Sep 18 2013, 05:27 PM
hey_there
post Sep 18 2013, 06:06 PM

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QUOTE(AVFAN @ Sep 18 2013, 05:46 PM)
us fed has been doing qe1-2-3 to the total amount of 3 trillion so far, i think.

the below news mean they will reduce monthly qe 85 bil to 75 bil, a tapering of 10 bil a month.

whether that is a lot or nothing, i have no idea. only that any taper by itself and itself only shud mean usd will not weaken, does not help gold price.
*
Ahh, I got a clearer picture now. Thanks rclxms.gif
hey_there
post Sep 18 2013, 11:24 PM

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QUOTE(lamode @ Sep 18 2013, 08:59 PM)
FOMC is coming 2AM, lets sleep well and wake up tml see how high the gold can hit la  icon_idea.gif
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How sure r u that it will go up?
hey_there
post Sep 19 2013, 02:14 AM

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QUOTE(lamode @ Sep 18 2013, 08:59 PM)
FOMC is coming 2AM, lets sleep well and wake up tml see how high the gold can hit la  icon_idea.gif
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U r damn right. I take a peek at the price b4 I sleep at 2am and the price shot straight to 1345/oz from 1300/oz. luckily I've bought some yesterday morning at 1298/oz
hey_there
post Sep 19 2013, 10:55 AM

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QUOTE(Marine Boy @ Sep 19 2013, 06:50 AM)
Hi bro, what type of gold investment are you investing in? Thanks
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GIA from maybank
hey_there
post Sep 19 2013, 11:32 AM

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QUOTE(PhilHellmuth @ Sep 19 2013, 10:33 AM)
guys... can someone summarize whats FOMC and what is taper and how does it affect tthe gold price?

thanks thanks
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fomc (federal open market committee). read the previous page regarding taper and how does it affect gold price. some sifus have just educated us on it. biggrin.gif
hey_there
post Sep 19 2013, 11:38 AM

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QUOTE(ck23 @ Sep 19 2013, 11:02 AM)
i invested in CIMB when it was 164/g. Now cannot sell, as it is too low.

What can I do?
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there r few things that u can do, in my opinion

1) wait for the price to go up.
2) sell it and lose some money
3) buy more at lower price so that it'll help averaging the price. dollar cost averaging method

example: u buy at 1g x 164/g, 1g x 154/g, 1g x 138/g

164 + 154 + 138 = 456 /3g = 152/g

if u sell at 152/g, u'll beak even.
hey_there
post Sep 19 2013, 11:51 AM

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QUOTE(ck23 @ Sep 19 2013, 11:40 AM)
I have 40g average price 163.995/g

Put in FD at least got some money.

If I sell, rugi at least RM1000.

Option 1: Very Hard
Option 2: Will do when it reaches >155 again
Option 3: Will buy in when it drops to 125 again

Egypt war ended already?

Last month was 143 all the way rise to 158-159 due to Egypt war.

Now drop back~~
*
it was 1298/oz which was rm138/g yesterday. didnt buy any? the price soar almost 90 degrees on chart after the news from fomc is out. syria's case is still pending negotiation. i dont know, dont think the price will go any lower. so u better hope that the price soar up more than 164/g.
hey_there
post Sep 19 2013, 12:53 PM

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QUOTE(ck23 @ Sep 19 2013, 12:22 PM)
Didnt buy lo.

I am afraid of it already.

Now im buying raw gold.

My friend who is doing gold trading business sold some used gold to me at RM125/g for 916 in June.

Im thinking to buy more just to average out my paper gold losses. Don't think I will buy paper gold again.

I am still monitoring gold market daily though.

If adding the physical gold at 125/g, my average cost is now RM148/g.

Hopefully can dilute more.
*
do u mean physical gold in a form of bar or gold that has not been processed? 125/g is a good deal. where can u sell them back to?

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