muses of the moment

February 17, 2013

jesse on recent gold move

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 11:04 am

Jesse over at Cafe Americain has some updated charts on that slam in gold/silver last week. Click here.

Side musing: groovygirl has mentioned it before, but she is buying physical gold and silver on dips to hold long-term. Every year, she takes a portion of the money she saves during the year (since she still has a groovygirl day job) and purchases physical gold and silver during the course of the year.

She bought some silver in the low in January. She is buying some gold during this low. She is buying a portion, not her whole year’s budget. She is planning on completing her buying this year by August-September, as she feels gold and silver will go up from late summer thru end of the year (and probably beyond). She is coming to this conclusion not only because of Martin’s economic turning point in Aug, but because it looks like the deficit talks will kick the can at least until then, and the new upward movements in gold tend to happen every 2 or so years, retrace (2 or so years) and then move again . Notice the new highs, retracements and consolidations on this long term gold chart from Kitco (2000-2013). groovygirl hasn’t traded gold and silver since late 2010. Trade at your own risk. 

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