.... been quiet
Published on Monday March 7th, 2011 at 07:45PM by colstreamer
OK so I mean I'VE been quiet not the market. Not that I've not been trading at all, I've been trading oil and indecies AND I decided to jump on the yellow bandwagon. I did a bit of research into gold. Seems, although it may be posrting higher dollar amounts, if you take inflation into account it still hasn't reached it's high of january 1980 when it reached $666 (or thereabouts I just like the "Omen" coincidence) and yeah $666 in 1980 bought you A LOT more than it will now. With inflation money seems to lose nearly half it's value every 10 years. OK this may not be 100% accurate as inflation and interest rates vary but it serves as fair rule of thumb. Anyway as I was saying with inflation adjusted dollars if gold were to hold the same value today it would be well over $2000 an Oz!!! So with the current lack of faith in money I reckon people will continue to buy gold. I'm even getting some myself and I don't mean to trade with. I mean actually getting myself a few ounces. British coins of course, my blind patriotism knows no bounds it seems. Seriously though, if you had to choose between an engraving of a noble Britannia with shield and trident with the union flag in the background or a maple leaf with a hockey player which would you go for? LOL
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On Tuesday March 8th, 2011 at 12:35AM by virgiliolayug - Like - 0 People
On Tuesday March 8th, 2011 at 06:25AM by butandingpanda - Like - 0 People
On Wednesday March 9th, 2011 at 05:46AM by colstreamer - Like - 0 People
Paolo, I'm divorced so I'll keep my money for me, and if I buy gold physically it'll be british soveriegns and britannias, beautifully minted very collectable coins.
Angelina, I was lucky enough to go long on oil at $84.92a few weeks back just before it soared up past $100.00 and I've done very well on XAU/USD I only don't post those trades as there is no oil/USD option and trading gold you can easily get 1,000 pips per trade which is deceptive when compared with forex trades where 100+ is bloody good and I didn't want to screw up my stats by posting 3,500 pip wins on gold. I'll keep posting my forex trades and seeing who's doing what, I sometimes get good ideas from the trades other people are planning on meetpips.
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