- One of the good trades (too few!) I have done over the past few years - going long gold at 800 in Apr08 and getting out at 1911 in Aug11.
- Possibility of bottom at 1180 on weekly chart although my negative view of US bond markets mean that I am anticipating a new low below, possibly near to 1032/1000 before going long.
- I would do this via the SGLD ETF traded on SGX (CPF approved). Reminder : ETF units are 0.1 oz, board lot of 10 units (=1oz). So based on current prices, XAU at USD1226 per oz, USD/SGD 1.27, 1 board lot appx = SGD 1557.
- GTC order placed, around 10% below current market. Scale in patiently and conservatively for a long term investment position.
4 comments:
http://www.bloomberg.com/news/2014-01-07/10-reasons-the-gold-bugs-lost-their-shirts.html
Nice to see you back. Good luck with T4L in 2014.
Hi TS, good to see you online again. I agree that we are close to a bottom in gold, but history shows that gold doesn't turn around sharply. I expect a long sideways period, with a test below 1000 likely sometime this year. Late 2014 / gold below $1100 will be the time to start buying. Anyway, for a long-term investor a few 10s of dollars here or there don't matter.
Pandu
T: Glad to see you back !! Best of luck. Look forward to reading your thoughts once again !!
Post a Comment