as I said previously I have bought in here before for large amounts and lower than today's price, I also had over 200k invested in centamin, so one thing I think I don't lack is the courage or stupidity (whichever way you look at it) to buy in at low prices, just past experiences of me buying into aim companies has left me out of pocket in most instances, so whether I believe the gold price predictions or not I certainly take them into account when pondering whether to buy back in or not.
Here we see yet more director buying and serious money being pumped in too.
Jonathan Leslie (strategic adviser to Board) seems to be particularly keen piling in with a cool £100k's worth!
This should be telling you something but, of course, most will miss out because they are intoxicated by the bearish gold sentiment. These guys (the board) can see beyond this nonsense and know where gold and this company is going longer term.
mike - yes but thats classic investor psychology to be scared to buy in when prices are very low (which they are now.) I'll be blunt with you it takes balls to buy in at or near the bottom. Much easier to follow the crowd. But contrarian investing psychology is how to make serious money long term.
Yes of course everyone is talking gold down! But they are mainly MSM analysts employed by the greedy fraudster banks. Do you actually believe these people? Do you think they are going to tell you what they really think or even worse what they are really doing? When sentiment is almost universally bearish THAT is the time to start buying in.
even though I watch this share most days, and I share your view that it is a good company, that one day will be making more profits than todays market cap, I just can't bring myself to buy in again in the short term, I know your view on the price of gold, but wherever you look so called experts/analysts are nearly all predicting big falls next year even from today's miserly price, you can either go with their view or stick to your own views, but at the end of the day these things can gather momentum. as for my previous holdings here, I bought in at 15p, then 11p, then 9p, I ended up with an average of around 13p, then I sold at around 12p lost about 8 grand, then within 2 weeks they went to around 17p, that's on my cv buy high then sell low lol. good luck here.
mpg1 - I wouldn't like to advise because I certainly would not buy into a gold (paper) ETF. Why? Because you won't know whether or not your investment is backed by pure physical and that is where the value is. If they defaulted you'd simply be repaid in cash.
But as for your other points yes indeed we are inevitably headed for some kind of financial catastrophe. How else can we not be with the huge indebtedness of all the major nations particularly the US? There is no way out for them. No way out.
Dibs, I was looking at doing a gold etf but didn't really know where to start. Do you have any ideas which I can look into? Gold looks to be very bearish at present, and with the manipulation of the market which began in April I believe we are heading for a shocker regarding the us debt ceiling and I'm looking for some additional exposure along with my shanta holding . My brother is a trader for a us bank and he has said to me many times how the market is rising so much on so little volume which is not sustainable and eventually some thing is going to give. Possibly a bond auction that could go bad and have a ripple effect. If something like that happens we could be looking at multiples of the current gold price.... GLA Mpg
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