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Gold - is it a buying opportunity?

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Post by harharmahadev Fri Mar 30, 2012 9:38 am

Oil prices are rising, while Gold is stagnant.

I would attribute the stagnancy to the Jeweler strike in India: http://economictimes.indiatimes.com/markets/commodities/jewellers-strike-enters-14th-day/articleshow/12468649.cms

A positive is the Chinese households are overtaking Indians are hoarders of gold.

On the other hand, a few central banks (Russia) is out selling their gold reserves.

I think it is a buying opportunity...although downside risks are there. At any rate, I don't see gold prices going significantly lower (below 10% of current levels).

I'm buying.

harharmahadev

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Post by FluteHolder Fri Mar 30, 2012 10:11 am

Long term resistance levels rejected. You are buying phyical gold or investing in gold related etfs? Though I donot like predicting, I expect it to fall. Smile

Goodluck! Smile

FluteHolder

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Post by harharmahadev Fri Mar 30, 2012 10:15 am

I buy physical...with an intention to hold long term.

harharmahadev

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Post by Maria S Fri Mar 30, 2012 10:25 am

I have always been consistent on this one- Gold and Oil..Up or down, small or big, they will always be good long term investments.

*If nothing else- Gold will always be extremely valuable (financial, sentimental and practical levels) as a gift/donation..especially in India.
Maria S
Maria S

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