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View Poll Results: Are you giving up?
No. Never! 27 90.00%
Yes. Going to sell all now & might buy back again when one fine day, PM restarts a bull run. 1 3.33%
Yes. Selling & never going to touch PM again! It's a scam! 2 6.67%
Voters: 30. You may not vote on this poll

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  #21  
Old 21-12-2013, 11:01 PM
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bargains.singapore bargains.singapore is offline
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Shorting in USD or SGD?

Quote:
Originally Posted by daniel.yrh View Post
Actually I did give up. I am shorting silver on forex and that means only 1 thing: I don't have confidence in metals, it will continue to go lower.

It has been a while since I last touched my silver stash. Some of them I bought earlier this year for $45 for 1oz silver. I am having lunch now and I was at GSC this morning... $30 for a kook!

Nowadays I enjoy waking up my computer screen first thing when I wake up, to see how much silver has dropped and what is my unrealized gains.
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  #22  
Old 22-12-2013, 12:31 AM
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Quote:
Originally Posted by Slowdown View Post
What time were you there at GSC today? Maybe we bumped into each other without knowing. You are definitely not that fellow who bought 5 x 100gm of PAMP Gold Bar I assumed. That was a cool 25K sgd.

There were two groups of people there this morning. One group bought so much silver that the lady cannot carry it into the room for them to inspect. A guy had to help carry the stack into the room.

Another group kept attacking Anlok's favorite cast gold bar of 100gm....

This morning a lot of 'fierce' people there. All high rollers. I felt so tiny in the shop.....
Poor people like me can only stack 5g gold
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  #23  
Old 22-12-2013, 02:46 AM
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Originally Posted by GoldenMao View Post
Poor people like me can only stack 5g gold
Look at it from another angle. 5g is for rich people cos high premium
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  #24  
Old 22-12-2013, 07:55 AM
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Originally Posted by Slowdown View Post
This morning just whacked two ounces of gold. Won't give up but won't jump in like a headless chicken. I salute the guy who brought 500gm of gold bar this morning. Cool 25K sgd.....
For that same amount of fiat, the guy can only bring home 350gm of gold around Jan 2013. Gold is on sale!
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  #25  
Old 22-12-2013, 08:08 AM
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Come to think about it. Buying is waning this time round where most dealers still have abundant gold pieces for sales unlike the last time in april almost everywhere is out of stock. Is this sign that spot will go down further with lower physical demand? :
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  #26  
Old 22-12-2013, 09:10 AM
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Quote:
Originally Posted by havefun View Post
Come to think about it. Buying is waning this time round where most dealers still have abundant gold pieces for sales unlike the last time in april almost everywhere is out of stock. Is this sign that spot will go down further with lower physical demand? :
I believe it could signal the bottom, as more and more people get fearful and avoid investing in precious metals.

During the April madness where there was a brief supply deficit, aunties and uncles were all queuing up to buy gold. I was of the belief at that point in time that the bottom wasn't in yet.

“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett
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  #27  
Old 22-12-2013, 09:51 AM
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True. Also can bring home 650gm of gold around Jan 2014.

I also wanted to whack one kilogram (so to achieve same level as Anlok). However I realized people collect brick and dust while I collect air. Cannot fight. So cannot whack. Can only nimble.

You should see my face at GSC that morning.....more ugly than William Hung (of American Idol fame)

I just came back from overseas and missed the critical below 1200 point......but now a good time to source for PAMP Lunar Horse Gold Bar 100gm...........hoping to get from overseas without GST factored in.

Quote:
Originally Posted by bean View Post
For that same amount of fiat, the guy can only bring home 350gm of gold around Jan 2013. Gold is on sale!
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  #28  
Old 22-12-2013, 10:11 AM
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We don't see anymore of those USD80 and above "freefall" daily range in gold for the last half year after June from 1180. I believe we won't be too far off even if 1180 isn't the final correction bottom as daily range records are no longer set by price drops, but by price rises since June. Also, the market is taking a longer time to come back near to this level (3 months) from the recent peak 1434 which took only 2 months to achieve. The price correction is mainly due to paper PM instruments like ETF liquidation rather than physical drop in demand.

When the paper traders are back to take the bull's horns again, PM will run up very quickly and we can see USD80 and above daily price spikes again, but on the upside. Tapering is not monetary contraction, it is still expansion at a very slightly slower rate than the current. I am still holding on to my belief that gold will reach 5000 by 2020... and silver? BOOM!!!
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  #29  
Old 22-12-2013, 10:51 AM
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Can add one more cat in the poll for those who r on sideline now?
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  #30  
Old 22-12-2013, 12:48 PM
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Smile My two cent thought of PM

Quote:
Originally Posted by havefun View Post
Can add one more cat in the poll for those who r on sideline now?
Hi All,

Like what most of you have mentioned, since price of PM is on a downward trend especially US Fed has already announced their tapering of QE3, plus the fact that there are more signs of US economic recovery hence its more likely that the price of PM may slide further.

Personally, I will try to rebuild my own liquidity cos I have already purchased quite a fair bit of PM in 2013.
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