Last chance to buy Gold under US$1,000

[Goldbull]

The new resistance level is US$1,000 before or hell breaks loose, the sky's the limit. The major fundamental driving the gold price is the weakening dollar.

[SimonPB]

last chance ever, or last chance until the next chance ??

[Goldbull]

Simon dislikes gold and I think it is because he lost his shirt on it a few years ago.

[SimonPB]

actually no .. I don't trade what I don't understand, an I don't understand gold .. but people welcome to make large buckets on money on gold, doesn't cost me anything ..

[#5]

So let me see . . . we had the worst financial crisis in modern history, a near collapse of the world's financial system (basically all the things the gold bulls always warned us about) and the best the gold price could do (so far admittedly) . . . is to almost break through USD1000/oz (3 times if I count correctly). Must say that if I had to buy commodities I would prefer something that has a use other than making the misses feel good.

[#6]

1000 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[kwagga]

I think a little gold fever had hit. Maybe time to think about taking some profit off the table - first target 1007, second 1034 third 1100. Interesting how GLD that actually follows the gold price and R/$ has retracted the past few days, due to the strengthening of the rand That means gold shares are actually running ahead of themselves, where as in the days just before the gold price started running (week before last) gold shares showed no interest in moving with an increase in the price of GLD due to the depreciating R/$ value. Funny how the sentiment in gold works, and how it can grab the imagination of the masses. That's probably why so many financial people dislike gold - why too unpredictable for their liking. Personally gold has been good to me over the past few years, so I try to cut out the noise of these finance people and the noise from the gold bulls and just find my footing in between.

[topgun]

Agreed, the Rand goldprice as tracked by Newgold (GLD) is the reality check...and this is going nowhere as the strengthening US$ gold price is neutralised by the appreciation in the R/US$ exchange rate...so, the goldmines' revenue lines don't change while costs are still escalating and divi prospects remain unaltered but speculators are prepared to mark up their values? Merely playing musical chairs again...

[#9]

If you compare the JSE gold index over the past month to gold-R and gold-$, it has followed gold-$ much more closely than gold-R. Same with platinum. It seems that the punters are not aware that the costs for mining in SA are paid in rands. Perhaps we should put a notice to this effect on the OST front page?

[theyoungster]

overheated starting to fall??

[Goldbull]

Hey Tomato cut the 'noise' when you decide to buy I'm selling KISS keep it short and simple

[#12]

Last chance to buy gold over US$1,000

[#13]

Seems like thats whats happening.. $1001 Now..

[saash]

Lol - and look how the market responded !!

[#15]

Gold back under $1000!!! This is wonderful..Hope it continues to drop!!

[Werner_1]

Shanil, hows trading going lately?

[#17]

It has being a wonderful week indeed, but it could get better!!

[#18]

Chances are 1000 is making a base

[Surf_Rat]

Ok I am back from the namibian desert no gold there just sand and 120km of family riding horses throught the dunes not fun Me think the dollar is going to strenghten in the next couple of days as the US doing some auctions so gold may keep its gains and the rand will weaken and GLD will go to the 8200 level.So rand needs to go somewhere near 820 short term .If this is not going to happen then I need to go diving to suck some oxygen .GLD is like a mellow trade it sort of hovers cruises to 8000 then cruises to 7200

[#20]

Hope you fellows didnt buy too much under $1000.. Its back to $993