Author Topic: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?  (Read 1272 times)

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Offline Birdman

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February 15, 2013, Wall Street Journal article, “Gold Settles at Six-Month Low"

http://online.wsj.com/article/SB10001424127887323478004578305992657615694.html

Today, gold dipped below $1600, a level not seen since six months ago in August.  What are the implications for gold Chinese pandas?  What are your thoughts?  I have some thoughts, but I don’t want to bias responses, so I’ll toss this question out for general discussion.

Happy Friday...N38

Offline NBM

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Re: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?
« Reply #1 on: February 15, 2013, 08:01:26 PM »
Get them while you still can.

Offline r3globe

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Re: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?
« Reply #2 on: February 15, 2013, 09:02:35 PM »
IF IF you find pre-2009 gold pandas at any reasonable price, buy them. This will be an opportunity to buy.

Offline Birdman

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Re: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?
« Reply #3 on: February 15, 2013, 09:08:33 PM »
IF IF you find pre-2009 gold pandas at any reasonable price, buy them. This will be an opportunity to buy.

Get them while you still can.

I agree.

Although I funneled money into the stock market after the crash of spring 2009, and continued over the next several years, I started to reverse course over the last several months.  I have started trimming, incrementally, some holdings in (now overvalued) stock and have been buying more better-date gold pandas.

Here is an anecdote from today (Feb. 15, 2013) that makes me feel even more uncomfortable with the current soundness of stocks. The video clip is entitled, "16 year old actress turns day trader." 

http://finance.yahoo.com/blogs/breakout/16-old-actress-turns-stock-day-trader-143823005.html

There were about three years where people didn't talk much about stocks, but now I'm starting to see giddiness return to the market.  The market has more than doubled from the low of the crash of 2009 and has been headed essentially straight up (with inflation assistance by the actions of the Federal Reserve).  As a result of such a prolonged upswing, people are mistakenly thinking that their skillful stock picking is what led to their “gains.”  The rising tide (even if it is an artificial tide of quantitative easing) lifts all boats, even the shoddy ones.  In 2006, waiters and cab drivers were sharing stock tips.  Shortly thereafter we had a big crash.  Things were quiet for years, but now in 2013 we have a 16-year old actress who is jumping into stocks and speaking confidently about her “instincts”.  It is time to start taking some money off the traditional bond and stock table and invest it elsewhere.

Given the investment alternatives, I still like the fundamentals of select, better date gold pandas. Time will tell if this was the right decision.  (moderator disclosure: as I’ve stated before, I own a number of gold pandas, particularly gold ½ oz dates).

Offline pandamonium

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Re: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?
« Reply #4 on: February 15, 2013, 09:13:43 PM »
The price drop in bullion is temporary as the strong hands are taking from the weak hands.  Same old story.  Ya all are right, buy them while you can.  When will the price break out?   Next month?  Second half of this year?   It will happen...........

Offline pandamonium

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Re: "Gold Settles at Six-Month Low”…Implications for China Gold Pandas?
« Reply #5 on: February 15, 2013, 09:22:13 PM »
I forgot to add this.  My group of new collectors are buying like madmen and not sitting on the sidelines.  They compare the ebay listings today to last year.   Not much on ebay today.   Prices have gone up too.  They also read CCF and get my articles that I post here.  Got another new collector on board today.  This one lives in Hawaii and I have never met him...........