GOLD 0.51% $1,391.7 gold futures

gold, page-69014

  1. 10,439 Posts.
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    Hi guys, again what a bloody day, i just cant believe how much the gold miners were smashed, yet gold is still AUD$2,550
    I finally bought 2 stocks today, as i know im a terrible stock picker, and i know i always make fun of paper assets etc... but today things just looked too cheap on the surface at least, i bought some GOR at $1.03 today, considering its one of the best gold miners on the asx and it was $1.77 a mere 2 weeks ago, and the gold price is still the same, and the company said their gold production is unaffected by the virus, id say $1.03 is a great buy, and i bought IOZ (the etf that tracks the asx200) this was my SAFE BET, like i said im a terrible stock picker, at least the entire index cant go to 0 like induvidual stocks can, and i will keep adding to my position every 10% we continue to drop, DOW futures are terribly down again, now what shocked me today is the ABC radio had a mainstream stock broker on and he basically said IT LOOKS LIKE A CRASH WILL HAPPEN (unless govts globally do a tonne of QE,lol) i thought the ABC host would cut him off, but he didnt, now for a mainstream stock broker to even use the CRASH word is a shock, usually these people try and sugar coat things when they are down. so there you have it guys, i just hope the GOLD MINERS recover soon, even finance book always says the gold miners get sold off as well during market falls, but they are one of the first to strongly recover.
    Ive got plenty of dry powder left, i thought whats better buying more gold at $2550 which is near its high or some of the gold miners which are down like 40% from 2 weeks ago, and virtually nothing has changed except this virus all over the news, buying the miners makes alot more sense than the metal as they have been beaten down so much, they are too cheap, i might buy EVN tomorrow if we get another down day.
    what have you guys been buying today? or are you guys waiting for further falls before buying in?
    cheers.
 
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