#207. Current Gold Price

Where Is The Current Gold Price Direction

Today's gold price is dipping. The price has been dipping since evening of 20 January 2010. I didn't give a sell signal. Why? Learning from last year, it is wiser to hold on. And buy at every dip when it is on an uptrend. We are still on a major uptrend in gold price.

Furthermore, I have just bought at the valley in early January 2010. Gold price has gone up soon after I bought and reached a peak in the mid of January. Meanwhile the US Dollar was descending down the stairs in the same period.

I bought the AmPrecious Metals fund that invests in gold mining stocks in the USA. Since the USD went down even while gold price went up, the gold price's climb seems to be cancelled out by the declining dollars (when you translate it into Ringgit). Didn't make any profit at all although price has gone up. You may be experiencing the same thing.

In that case, just hold on. Gold price will dip a little and will climb up again. Gold price is behaving like this recently as I have mentioned before. It will move in bigger waves of ups and downs. We just got to ride these waves. Buy low, sell high. Catch the timing.

The current gold price may have a few more days or a week more to run its course. Down. After that, it's time to buy at the valley again. From the past few months' records since September 2009, price always rose at the beginning of the month (which also coincides with the full moon). If this is the trend, we might see the full moon on 29/30 January 2010 effecting the gold price again. Still, it will be best to keep your eyes on the charts. Charts will tell you for sure whether it will go up or down after the full moon day.

I will buy more when it dips to the valley. Will post again when the price has reached the valley. Don't miss it. Come back often to keep updated on the current gold price situation.