If you got Gold Aug 2011 at almost $1,900/ounce and kept to have it, you would probably hope and be disappointed at least 3times, Nov 2011, Feb 2012, Oct 2012 at $1,800/ounce.
« Hey, 100 more! Go up! Please! Please! Pleeease! »
I can hear your scream.
Time went by. I’ve been curious about buying Gold. I bought Gold ETF Dec 2013. Because Gold Market was already rebounded at $1,200 Jul 2013. I thought the Gold chart would draw a double bottom. My thought was right. Gold went up. But, after that, the Gold chart formed a triangle and broke towards down since Aug 2014.
« Oh! My! Gosh! »
I can’t help but selling with tiny profit.
The Gold price already was under my buying-in price $1,200 Dec 2014. I have no idea how further down Gold will go. Some analysts say the next target will be $800/ounce. The Gold Market is already dead.
At a glance, my trade was success. But, it was not success. The Gold Chart by Japanese Yen is quite different. The Gold goes up late 2014. My trade failed. I should’ve wait.
What is the trick?
It’s an exchange rate. Japanese Yen is 50% weaker than 2 and half years ago against US dollar. Currency Exchange is really difficult.
Japanese Yen is rather good. Russian Ruble is abnormal.
The 2014 Gold Market is disgusting for American, so-so for Japanese, heaven for Russian.
However, even if I was a Russian and had Gold, I would not be glad. This is nothing less than currency crisis.
Should I buy Gold again for future? Not ETF but Real Gold.