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Gold going up this year? Post Reply Rate topic
elfinchilde Elite	14-Mar-2008 01:31        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	edit: sorry: limit for stocks is 35% of OA. so total allowed for gold and stocks is 45%.
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elfinchilde Elite	14-Mar-2008 01:27        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	lol. i see idesa has taken over my role as proponent of gold. littlenova and colorado, yes, you trade it exactly like a stock. take note that it's priced in USD though, so you need to factor in the conversion rate, too. There's no mgmt fee; only the standard brokerage fee, as per a normal stock. The one thing to take note of: each lot is 10 shares, not 1,000 shares. hence, the px you see, eg, US$97.60. means one lot will cost you US$976. (and not 97,600.) I don't invest using CPF, but yes, limit for gold is 10%, stocks is 45%. of the OA. Not sure if the streettracks gold fund counts under the 10% tho: it may just be limited to the UOB gold trust fund. need to find that out. btw, pls note that gold has a large intraday trading range. so don't be shocked if you see large movements daily; it's quite regular. Also: use RSI to track this counter. it's relatively accurate: if you're buying for longterm, wait for dip to <50. sell at ~80 if scalping. if not, just keep loading in positions whenever it dips to below 50. Long term outlook for gold: this year is expected to hit 1,000 per troy ounce (actually, 1,200 max is my tech count, via fibo). thereaft retrace a bit to the 900 level. then next year is 1,200-1,300. and by 2012-2014, the target is 2,100.  This is from a foreign analyst. the name slips me at the moment. but generally, there is concurrence: the px of gold can only increase as demand increases, and supply decreases. Advise patience accumulating this counter tho. Separate out and buy it bit by bit. Gold can do sudden dips of more than US$10 in a day; so be careful of that. have played this twice since nov alr. oh yah. one more tip: if you have market depth, you can see queues to sell consistently above: at 7,000-11,000 lots. Don't be fooled by these, they're likely false queues. Got caught out once before; i saw large sell queues, so i sold slightly less, only to see the sell queues disappear straight away, and my lots swallowed up by a foreign BB.  Consistently this has been the case, from my observance of market depth. note: caveat applies to all the above yea. pls make your own buy/sell call. am just sharing from my experience in this counter.
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littlenova Member	14-Mar-2008 01:12        littlenova About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi idesa, Looks like I'm a newbie to this as well  You mentioned that we can buy it just like stocks, so does this mean brokerage cost apply on top of the mgmt fee? Also, which exchange does this GLD 10US$ trade on? If it's NYSE, then sld be 10pm start right? I'm looking at my online trading platform now but dun see the numbers moving. Is there some lag time? Many thanks in advance for your great advice!
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colorado Member	14-Mar-2008 00:21        colorado About Contact  Quote this Post!
x 0   x 0  Alert Admin	ideasa168, thank you for the information.  By the way, can we use cpf to invest then?  I understand that there is a gold limit as well as a stock limit.  If my memory did not fail me, the gold limit is 10% while it is 35% for stocks.  Looking at the situation, the equities market does seem quite volatile and commodities may be a better bet.  I've parked some money in UT that buys into resources and it is growing.
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idesa168 Elite	13-Mar-2008 20:25        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Very high chance GOLD will reach US$1,000 mark tonight. I have just saw the GOLD trading at US$995.60 a minute ago, US$4.00 shy from that mark. Those who are in this ETF will be rewarded tomorrow I guess....Colorado, infor for you: you can trade this ETF just like buying and selling a stock, bidding and asking price. All broker house offers that. There is absolutely mgt fee if not the manager eat what? However the fee is factored into the trading price reflected. You look at the trading price as like any stocks. Difference is the board lot is 10 while most counters have 1000 share a board lot. I think Creative Technology is still trading 50 share a board lot.
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terencefok Master	11-Mar-2008 23:01        terencefok About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hmm...anyone has physical gold and silver at home? Hehe...
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colorado Member	11-Mar-2008 22:51        colorado About Contact  Quote this Post!
x 0   x 0  Alert Admin	Err.. this is an absolute newbie here.  A few clarifications: How do you go about trading in this ETF?  Which broking house to use?  It appears that there is no management fee so what other fees does it entail beside the exchange rate? They are traded in lots of 10s so how do I look at the price? Thanks so much especially to Elf who has been sharing so generously!
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idesa168 Elite	11-Mar-2008 20:05        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am very very interested in GOLD now. Just bought in somemore today.....I think eventually all my stock holding will be converted to here...I am still waiting for the big day to come, up $6.00 in one day!
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elfinchilde Elite	07-Mar-2008 17:19        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	locked in: ie, locked in profit. my own lingo i guess. today at abt 97.17. citibank had bought from me, that's how i knew they were accumulating. cos they bought up the other quotes. if i buy, it's a strike. watching a counter = call. (altho sometimes a call can be watching to sell, too. a call is basically my signal to watch a counter for action.) cos i bought my second batch at abt US$89. so good to take some profit as a practice. trailing stops. should be retracing a bit for a while now. no mgmt fees. only exchange rate. o/w, it's like a normal stock. just that traded in lots of 10 and not 1000s.
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idesa168 Elite	07-Mar-2008 15:31        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You said "just locked in some". You meant locked in some profit or you took bigger position? I intend to keep my lot till the cow comes home. My holding so small, take profit also see no meat! Maybe when GOLD is US$1500, I will consider sell. Cheers.....BTW, this is an ETF. Will they charge us management fee on top of the share we paid? or they mgt fee are all factored into the price reflected?
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idesa168 Elite	07-Mar-2008 15:19        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	thanks elf.
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elfinchilde Elite	07-Mar-2008 14:56        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	fyi: foreign funds are in. via counterparty tracking: Citigroup global is buying gold above US$97. They're lidding it too, is my guess. that's why you see the 7,000-11,000 queue to sell. when the really big BBs move, take note. herald of things to come. ie, equities likely down. gold/oil up. idesa, use RSI for gold. above 80 sell, below 50 buy. it seldom drops to below 45. caveat as usual yea. i just locked in some more today.
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idesa168 Elite	06-Mar-2008 08:48        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can we see more cheong from this ETF today? I have taken more position yesterday at US$95+. It's been down for a couple of days already, I was thinking it will rebound soon to a higher ground after several dips, hence took more position.
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elfinchilde Elite	04-Mar-2008 00:18        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	it's a buyer/seller willing phenomenon. So the px tmrw is likely to be around 98, if you ask me. Supply is rather limited though, at this stage. I won't be surprised if you find lots of buyers but little sellers, except at high prices. (unless some ppl need to lock in gold so as to shore up stocks.) The variation can be as big as $2, pls note. Note in event of some ppl selling down due to margin calls on other counters, you can expect natural rectification of the px, since savvy investors will take the chance to grab it below 95, and sell it the next day when the price 'corrects' itself to about 98 or so.   not sure which broker you're using, but for me, i click settlement in S$, so it's auto converted at whatever that current bank rate is. Wld advise to hold gold til 2Q of year. The collapse of the dow will tell you when it is time to sell gold. o/w, my earlier call at 1,100 to tech max of 1,200 still holds. (cf my earlier posts in this thread. since nov, if not earlier...can't rem hte exact date i posted)
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idesa168 Elite	03-Mar-2008 22:57        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks Elf. Now the spot px is US$988, up US$13.00. Will this increase be reflected in tomorrow's ETF? I had bought somemore at US$97 today. BTW, I have not pay any of my purchases. When time to pay up will they convert the US$ denomination to S$?
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elfinchilde Elite	03-Mar-2008 22:36        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	relax idesa. the ETF will roughly track the px of gold, but actual movement will depend on the ppl buying/selling, which accounts for the difference. considering the index dropped big today, won't be surprised if some small fries had to sell off gold to shore up other counters. Also:  GLD at 985 spot px is today's px from the US Comex, you need to account for time difference. ie, tmrw on the STI, then you'll likely see ~98.5. Rem that if you look day to day, this ETF actually went up to 98 before the comex spot px, so a bit of 'correction'--if you can even call it that-- is to be expected. Pls note that this ETF intraday fluctuation is quite high. my advice is to sell to buyer. unless you can queue high to sell.
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idesa168 Elite	03-Mar-2008 19:41        idesa168 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why gold rised on Friday evening and Monday, but this ETF went down instead? First time playing ETF (small betting), dun know what to expect from this. How this ETF tracks the GOLD price? GOLD at US$985, but this ETF traded at US$96-97. Anyone to advise?
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terencefok Master	27-Feb-2008 17:47        terencefok About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow!!! Metals are going mad. Seems like the winning horse at Kranji Turf Club..haha
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elfinchilde Elite	27-Feb-2008 17:40        elfinchilde About Contact  Quote this Post!
x 0   x 0  Alert Admin	ah. apologies, jalan_tiong, only just stumbled on this thread again. KC--well, it has hit above 11. :) be careful of the dow. 12,800 is the level to break. if it can't break that, it's down. KC: seems to be holding well. If you aren't eyeing other counters, could just sit in. will benefit as oil surges past 100. proxy play for oil. be careful close to 11.5 (or more precisely, 11.3 now) though: needs to break that on increasing buy vol. if it can't, it'd likely be down for the short term. long term, it's a good counter though. so if you aren't in a hurry to buy any other counter, may be alright to stay in. follow the charts though. :)   whee! gold!
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mirage Veteran	27-Feb-2008 17:31        mirage About Contact  Quote this Post!
x 0   x 0  Alert Admin	Quotes: The complete article: Gold roared above $960 an ounce on Wednesday to its highest level ever By Lewa Pardomuan SINGAPORE (Reuters) - Gold roared above $960 an ounce on Wednesday to its highest level ever, with investors pouring money into the metal as oil hit another record above $101 a barrel and the U.S. dollar tumbled against other currencies. Spot gold rose as high as $963.40 an ounce, with buying particularly from investors and speculators in Japan. It was up from $946.60/947.40 late in New York on Tuesday and has gained as much as 16 percent this year. Silver rallied to its loftiest level since November 1980 on investor buying as it was still cheaper than other precious metals. Palladium jumped to its best level in more than six years while platinum hovered below last week's record. "Investors are still very concerned about the fluctuations and troubles in other markets," said Darren Heathcote of Investec Australia in Sydney. "Let's just say $970 is not inconceivable. As I guess $1,000 is not inconceivable. There doesn't seem to be much reason to sell gold," he said. The dollar hit a record low beyond $1.50 to the euro after surprisingly weak U.S. data and comments by the Federal Reserve's No. 2 official reinforced views that the central bank will keep cutting interest rates. "The stock markets and oil are going up and that attracts buying interest. Going ahead, we are talking about $970," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, who pegged support at $930 an ounce. Gold shrugged off any worries about sales by the International Monetary Fund of some of its bullion reserves, which Leung said would be done in stages and in limited quantity and were unlikely to cause a sharp drop in gold prices.  The United States said on Monday it supported the sale of a limited portion of the International Monetary Fund's gold stocks and was confident Congress would support the move. The IMF is the world's third-largest gold holder. But the metal, shrugged off worries about possible IMF sales and extended its gains this year to above 14 percent. "Any decline in gold should be viewed as a near-term correction because we expect that higher prices will remain well supported," Standard Bank said. Gold's rally boosted other precious metals. Silver rallied to its highest level in 27 years and was last at $19.16/19.21 an ounce versus $18.65/18.70 late in New York on Tuesday. Spot platinum rose to $2,158/2,168 an ounce from $2,130/2,140 an ounce but off last week's record high of $2,192 an ounce. Palladium rose as high as $552 an ounce, its best level in more than six years, up from $523/528 late in New York.
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