Wt Phys Gold � Discussion Threads

[eric gardener] 01/8/2010 19:02

does anyone know the advfn ticker for gold in £ ?

The £ hasn't risen that much against the dollar.

[fasteddy] 01/8/2010 18:17

There are a few gaps in the chart around the £68 level looks like its just closing them. i was a buyer around the £73/75 level where there were some big gaps but now im waiting to see the bottom of this correction as iv only got one more tranche to buy back to cover my sells for capital gains tax reasons.

[cassini] 28/7/2010 22:20

This isn't getting cained any more than gold is in GBP. The £ has risen against the dollar which accounts for the steeper drop than in pure $ terms. However, holding PHAU wouldn't save you as you'd still have to turn it back in £ if you wanted to cash in.

Good buying opportunity, especially if you edge in over some time I reckon.

The only worry in my mind is if the £ continues to rise...

[eric gardener] 28/7/2010 22:12

to me just from a quick glance this looks like its getting cained? gold is only down less than 100 from it top of 1250 something this looks like its getting bashed twice that.

[traderabc] 28/7/2010 22:09

Only a little bit more to go, then it bounces on strong support and $1500 by Christmas (hopefully)

[atflores] 28/7/2010 19:50

As a buying opportunity, this must be unsurpassed in recent weeks.

[notanewmember2] 28/7/2010 19:20

And down. OK we capitulate, we capitulate! Have mercy on our mortal souls.

[atflores] 26/7/2010 15:21

I have seldom seen such a buying opportunity.

[m w] 26/7/2010 12:16

I see the £ getting stronger over the next few months so this could drift lower

[pokerbrat] 26/7/2010 11:51

We've had a 10% correction now, and are getting late in the cycle. So I wouldn't hesitate for too long and let the bull take off without you.

I see strong support around 7300, but my initial target for topping up is 7500. So I will be buying this week on any further weakness.

[fasteddy] 25/7/2010 14:00

Pleased to see this threads actually attracting more attention recently, a bullish sign perhaps. Any suggestions where the bottom will end in this correction? Plenty of gaps in the chart further down, im looking to buy back after selling to lock in capital gains at the lower level.

[atflores] 23/7/2010 20:14

Man, is this ever a buying opportunity!

[atflores] 20/7/2010 09:46

If I keep saying 'buying opportunity', one day I'll be right.

Buying opportunity.

[atflores] 14/7/2010 12:17

How about removing those gold coin images at the top of this thread?

Most threads I use allow you to see the price charts in one click. This one however, requires a scroll down past those increasingly annoying pictures of coins.

[notanewmember2] 06/7/2010 20:39

Don't be disheartened. A weekly close below £675/oz ish and the uptrend is ended by my indicators (the lower chart's blue lines). Nothing to worry about here, yet.

[notanewmember2] 06/7/2010 17:40

Probably will hit £750/oz.

[notanewmember2] 05/7/2010 17:22

Good luck, I don't know how far this pullback will go though.

[atflores] 05/7/2010 17:13

I think this is a buying opportunity.

[spob] 18/6/2010 21:53

Gold hits record high as investors seek havens
By Javier Blas in London and Gregory Meyer in New York

Published: June 18 2010 12:48 | Last updated: June 18 2010 18:01


Gold prices hit a nominal record high above $1,260 a troy ounce on Friday, boosted by investors buying bullion-backed exchange-traded funds.

EDITOR'S CHOICE
Report casts doubts on new commodity futures rules - Jun-17US questions oil price benchmark - Jun-17Coffee growers warn of rise in narcotics crops - Jun-16Lex: Natural gas - Jun-14Holdings at the New York-listed SPDR Gold Trust, the largest gold ETF, surged this week to a record high of 42.05m ounces, up more than 7 per cent over the past month.

Holdings of other large gold ETFs have also surged.

However, Edel Tully, precious metal strategist at UBS in London, said support for the gold rally was "quite narrow," noting that "physical safe haven buying was lagging well behind that of May".

In London, spot gold surged to an intraday high of $1,260.20 an ounce, up 3.6 per cent on the month. Adjusted for inflation, however, gold is still a long way from its record high above $2,300 an ounce in 1980.

Traders and bankers said hedge funds remain extremely bullish on gold because they believe that, sooner or later, the central bank's recent massive monetary expansion would translate into inflation.

Bankers said that some hedge funds have internal forecasts above $1,300-$1,500 for the end of the year.

But with demand for jewellery, the traditional backbone of the bullion market, declining, some consultants are cautioning that gold might lack the strength to sustain the recent move above $1,250 an ounce for a long time.

Investors last year bought more gold than buyers of jewellery for the first time in three decades, according to GFMS, the London-based precious metal consultancy.

Elsewhere in commodities markets, oil prices rose over the week as investors returned to risky assets. Nymex July West Texas Intermediate rose 4.6 per cent to $77.19 a barrel while ICE Brent climbed 5.5 per cent to $78.47.

ICE July Arabica coffee rose 9.7 per cent to $1.5895 a pound, touching a 27-month high in the week. Tobin Gorey, a JPMorgan analyst, said: "The market is trying to decide whether the sharp move higher was simply a short-term trading phenomenon or something more fundamental."

[mctmct] 08/6/2010 11:18

Still heading up

[dasv] 13/5/2010 16:41

8600 for starters

[notanewmember2] 12/5/2010 18:23

We're off to the races

[notanewmember2] 09/5/2010 23:59

Tada £800 smackers. Like taking candy from a baby.

[abc125] 07/5/2010 21:46

I bought a splodge of these today. Fiat currencies are going down the`swanny imo.