Gold Reaches All Time High And In Uncharted Waters
In September 2009, I mentioned about gold going to break out to higher level.
Gold price climbs higher and higher and topped at USD1,061.40 on 8 October 2009. Amazing. It was so fun to see the news on Bloomberg and CNBC daily where people are talking about gold. And also seeing the price flashing and scrolling on the TV screen showing higher and higher price.
Gold price climbs higher and higher and topped at USD1,061.40 on 8 October 2009. Amazing. It was so fun to see the news on Bloomberg and CNBC daily where people are talking about gold. And also seeing the price flashing and scrolling on the TV screen showing higher and higher price.
I believe soon this Post Title will have second part and third part and so on. Why? Because price will keep breaking the previous high and continue to go higher.
But as I write, gold price is taking a breather just like someone who has just finished climbing all the 272 steps up Batu Caves.
It's now around USD1046-1047 region. I have also sold part of my holding to cash out some profit. This morning the bank price went to RM112.75 and I did see it topped at RM113.XX in the past few days.
So, I am now happily waiting for the next minor dip to repurchase. Or perhaps diversify a little bit into a precious metal unit trust fund.
Price will surely make another rush again soon, possibly beginning end of this month or mid of next month. Just have to be patient for now. And the next rally will surely be a strong one that we can see going up for at least 3 months.
Let's just wait and see.
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2 comments:
Hi Carson,
Do you think Gold will hit another all time high over USD1600/ ounce? Seems like so many people are rushing to buy gold at once.
Jeremy,
We might see that number next year. Reading from a few places on the world wide web, I found that USD1,600 is a possible figure soon.
Just hang on tight and ride with the trend. Read post #187 and #188 to see how you can benefit most from this strong trend.
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