Price of Gold to Sell or keep. Your Predictions Thanks
Discussion
1. What target price did you have in mind when you bought?
2. Are you there yet?
Also, depending when you bought and the extreme circumstances created by Rus/Ukr, some might consider it a gamble to hold further. As always, DYOR applies.
I sold out 50% last week.
2. Are you there yet?
Also, depending when you bought and the extreme circumstances created by Rus/Ukr, some might consider it a gamble to hold further. As always, DYOR applies.
I sold out 50% last week.
Edited by S17Thumper on Wednesday 16th March 09:45
S17Thumper said:
1. What target price did you have in mind when you bought?
2. Are you there yet?
Also, depending when you bought and the extreme circumstances created by Rus/Ukr, some might consider it a gamble to hold further. As always, DYOR applies.
I sold out 50% last week.
i had no target in mind, the cost was about 1380 OZ when i bought during covid . I was told during covid gold would hit the roof, I've been waiting and it seem to dip and rise. Would lke to sell on a high. Part of me thinks inflation and war will further rocket gold prices. That makes me feel that i should hold on for a bot longer. 2. Are you there yet?
Also, depending when you bought and the extreme circumstances created by Rus/Ukr, some might consider it a gamble to hold further. As always, DYOR applies.
I sold out 50% last week.
Edited by S17Thumper on Wednesday 16th March 09:45
I’d be waiting 20 years on gold.
It’s price is suppressed so it’s unlikely to move meaningfully during turbulent times and allow ‘quick wins’
As for the whole Ukraine thing. We’ve seen war in Iraq, Afghanistan, Syria etc, had a massive earthquake in Japan with a nuclear meltdown, god knows how many other disasters, the GFC, dot com crash aftermath, all in the last 20 years… gold has done sod all.
If you can get out with profits and aren’t keen on staying in then I’d jump now.
It’s price will only really find a true market level when the USD finally loses its value, but that might be decades away (or next month)
It’s price is suppressed so it’s unlikely to move meaningfully during turbulent times and allow ‘quick wins’
As for the whole Ukraine thing. We’ve seen war in Iraq, Afghanistan, Syria etc, had a massive earthquake in Japan with a nuclear meltdown, god knows how many other disasters, the GFC, dot com crash aftermath, all in the last 20 years… gold has done sod all.
If you can get out with profits and aren’t keen on staying in then I’d jump now.
It’s price will only really find a true market level when the USD finally loses its value, but that might be decades away (or next month)
You need to look at the USD price as the GBP price includes Cable.
Russia has been buying reserves to prep for their war. Sanctions have been harder than they expected and they're going to have to discount oil to get money in and may end up having to sell down their gold reserves.
Global inflation is also temporary and a spike due to exiting Covid.
Not necessarily many reasons for future rises but a few for it coming back down over the next 12-24 months.
Russia has been buying reserves to prep for their war. Sanctions have been harder than they expected and they're going to have to discount oil to get money in and may end up having to sell down their gold reserves.
Global inflation is also temporary and a spike due to exiting Covid.
Not necessarily many reasons for future rises but a few for it coming back down over the next 12-24 months.
4Q said:
Mr Whippy said:
I’d be waiting 20 years on gold.
in the last 20 years… gold has done sod all.
Unless I’m missing something really obvious gold seems to have gone up about 50% in the last three years.in the last 20 years… gold has done sod all.
And everything else ‘investmenty’ has done a good chunk too.
And we’re probably at a good peak now so sell if you don’t like having money in it.
Ultimately we’ve had enough ‘events’ to see it peak and trough over 25 years, and you’ve got the price charts, so you can get a feel for things enough from that I’d say.
It’ll be better than cash (at near 0% in bank) vs inflation. It’s CGT free.
Long term it’s good on that basis.
But had you put a few £££ into bitcoin at same time…? Or Tesla? Or Nvidia? Or a hundred other stocks.
Like everything, buy if you like it, don’t if you don’t.
I’d sell mine if I had a better place for the money but I don’t. It balances the other stuff I have nicely so all good
Mr Whippy said:
I’d sell mine if I had a better place for the money but I don’t. It balances the other stuff I have nicely so all good
I agree with this, it's unexciting (in recent history) but does tend to retain value so no huge monthly spikes (or perhaps importantly troughs)?Op talks of selling at a high, rewind to may 2006......gold had run up approx 50% in 6 months, and then you could have sold at the peak which at the time was close to the previous all time high in 1979. It pulled back a little but then nearly doubled again by March 2008 and a new all time high of approx $1000
Another peak to sell at, then it lost a 1/4 of it's value by Nov 2008, you'd have felt good selling then for $1000, but then went on to double from this low by Aug 2011 to another new all time high. So the last few times, gold has pulled back then surged on to higher highs.
It's absolutely not to say it'll happen again but just to highlight what holding would have meant. Saying this if you hadn't sold in the 1979 blip though it would have been 30 years until you got back to that, it was flat for decades...
Food for thought............for me if you had to bury a time capsule today for your great/gran/kids I'd put an oz of gold in over $2000 or £1600 in notes, or a Tesla etc share certificate or bitcoin wallet key?
DonkeyApple said:
You need to look at the USD price as the GBP price includes Cable.
Russia has been buying reserves to prep for their war. Sanctions have been harder than they expected and they're going to have to discount oil to get money in and may end up having to sell down their gold reserves.
Global inflation is also temporary and a spike due to exiting Covid.
Not necessarily many reasons for future rises but a few for it coming back down over the next 12-24 months.
Others might argue all the factors that have moved Gold since 2004/5 to date are largely still there. Rates low, real rates negative, rates increases being actioned/discussed are very low, high rates would hit the markets hard and mortgages etc, so they can't do a Volcker which arguably stopped the 1979/80 Gold spike, USD debt trending to exponential, currency devaluation risks? Russia has been buying reserves to prep for their war. Sanctions have been harder than they expected and they're going to have to discount oil to get money in and may end up having to sell down their gold reserves.
Global inflation is also temporary and a spike due to exiting Covid.
Not necessarily many reasons for future rises but a few for it coming back down over the next 12-24 months.
I wouldn’t trade gold to make money.
Buy and hold.
Pound cost average buy it would be best I’d say.
Since Gordon Brown told everyone he was dumping our gold and cratered the price (more manipulation?), gold trend line is basically keeping ahead of cash in bank and inflation.
It’s CGT free in Britannia coins (and bars?)
It won’t make you a millionaire but it’ll be as good as cash for all the benefits of cash, BUT it’ll return in excess of cash.
Plus as I keep mentioning in these kinda threads, jangling lots of coins through your hands/fingers is quite fun… definitely better with sov/0.25oz… 1oz coins too big.
Buy and hold.
Pound cost average buy it would be best I’d say.
Since Gordon Brown told everyone he was dumping our gold and cratered the price (more manipulation?), gold trend line is basically keeping ahead of cash in bank and inflation.
It’s CGT free in Britannia coins (and bars?)
It won’t make you a millionaire but it’ll be as good as cash for all the benefits of cash, BUT it’ll return in excess of cash.
Plus as I keep mentioning in these kinda threads, jangling lots of coins through your hands/fingers is quite fun… definitely better with sov/0.25oz… 1oz coins too big.
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