Im just waiting for the right time to sell off all my gold. Its been a roller coaster ride the past 3 years and I think there are better investments out there. Gold just isn't what it used to be no matter how well u predict prices.

I think the more important question which you should be asking yourself is:

1) Why do i want to invest in gold?
2) What kind of profit do i intend to make over what period

It would be wise to revisit the wisdom of Buffett and his thoughts on gold:

1. “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

2. “The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you….it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.”

3. “Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything."

4. “I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils (XOM) and you could have a trillion dollars of walking-around money…And if you offered me the choice of looking at some 67 foot cube of gold and looking at it all day, and you know me touching it and fondling it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils.”

5. “The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.”

6. “What motivates most gold purchasers is their belief that the ranks of the fearful will grow. During the past decade that belief has proved correct. Beyond that, the rising price has on its own generated additional buying enthusiasm, attracting purchasers who see the rise as validating an investment thesis. As 'bandwagon' investors join any party, they create their own truth — for a while."

7. “I have no views as to where it will be, but the one thing I can tell you is it won’t do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot — and it’s a lot — it’s a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that."

Dun waste your time la. Go and invest in something that can give you a steady return every year. How much can you invest now at your age anyway?

Assuming you invest 200g at RM146/g (RM 29,200) and assuming prices rise RM200 about 10 years from now, your net profit would be about RM 10,200. But if you had invested that RM 29,200 in one of those Amanah Saham giving out say 5.5% returns yearly, your total accumulated profit in 10 years would be RM 20,677.

See the difference? Do the math. Don't blindly assume that gold gives you good returns. Gold is only good as an investment diversification tool for those who have invested lager portions of their portfolio in other forms of investment.

http://www.bloomberg.com/news/2013-09-13/g...y-gains-1-.html

Yes that's what I said before. Gold is too high a risk. And gold price is gonna keep dropping further. 2014 will see the demise of gold for a while before it begins to climb again.

This still stands true!

So what will you do with these gold bars when the price of gold drops to RM95/g?

Why buy gold now? Are you reading the news? Are you observing the markets? Gold will drop further in 2014 before it bottoms out and recovers in 2015. The worst is yet to come for gold.

Thats the worse case scenario. That wont happen. The economy is in trouble but we wont reach doomsday status. A slump is coming but there is not gonna be a crash. Huge difference.

(P/S: I too invested in gold a few years ago and the drop this year alone wiped out all my accumulated profits. Thats why i have now realised that gold is and never will be a good investment tool).

Do read some of my previous posts on this thread

This post has been edited by cybermaster98: Dec 13 2013, 09:43 AM

Well yes thats a fair plan for the future. But i always believe in maximising investments while reducing risk exposure.

No its not. The end of the gold slide is not in sight yet. 2014 will be worse for gold. Do not make the mistake and invest in gold now. I regret investing in gold now. I invested in May 2010 and now all my earnings accumulated over 3 years have absolutely vanished.

I would now advice ppl not to waste time investing in gold. Go and invest in something that can give you a steady return every year.

Assuming you invest 200g at RM130/g (RM 26,000) and assuming prices rise to RM200/g about 10 years from now, your net profit would be about RM 14,000. But if you had invested that RM 26,000 in one of those Amanah Saham giving out say 6% returns yearly, your total accumulated profit in 10 years would be RM 20,562.

See the difference? Do the math. Don't blindly assume that gold gives you good returns. Gold is only good as an investment diversification tool for those who have invested larger portions of their portfolio in other forms of investment and want some form of stability.

This post has been edited by cybermaster98: Dec 31 2013, 09:41 AM

Warren Buffet:

“I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils (XOM) and you could have a trillion dollars of walking-around money…And if you offered me the choice of looking at some 67 foot cube of gold and looking at it all day, and you know me touching it and fondling it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils.”

Even worse! Maybe 10 years also no untung.

I wont be surprised to see it go to RM100/g. World economy picking up while ringgit is being devalued.

So what does this mean?

Meaning a future drop?

OK. But any indication about future paper gold pricing? I think the small increase the past few days will not last long. A dip is coming. What you think?

Why u wanna invest in gold? WHats your plan? Purpose? WHat kind of returns u wish to gain in what time frame? Dont blindly invest when u dont have a plan and u dont know the product well enuf.

Doesnt matter what the resistance levels are. Gold is going down further this year.