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aaronbennett
Contributor
I just read on Bloomberg that gold has fallen for the 3rd day in the asian markets. What implications would this have on us? I ve seen the "boom" in recent gold miners shares, and unfortunately im still to cautious to have investor my excess capital into that.... unfortunately Im riding a down hill spree with CFR, which is not wonderful because its the first shares I bought.... BUGGAR!!! haha Im considering looking at buying shares in SIM? I still think it is undervalued and could rise... but like i said.. still a beginner.. haha thanks
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to invest in any gold share, gold has to consolidate above $900
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aaronbennett
Contributor
so basically your saying caution be the word?? maybe a possibility for new buying opportunities....
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Super Contributor
Ignore gold. It could make you rich but it is just as likely to make you mad, drooling into your soup. Governments, hedge funds, jewelery - all these mad things come together with gold, to make an unpredictable snake that bites you when you hug it.
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Like clockwork, the london exchange takes the wind out of the gold rally's sails. Momentum, I concur with the $900 consolidation, but at what rand/$ price do you think it has been factored in?
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gold in rands need to consolidate above R305'000 per kilogram, bad news though, india one of the major importers of gold, bought 90 % less gold in jan 2009 compared to jan 2008, they bought only 1.2 metric tons in jan 2009, jan 2008 they imported 18 metric tons of gold
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