Saturday, February 20, 2010

MY VIEW ON GOLD


Sir, I would like to know the fate of reliance gold purchased @1720, .is it wise to book loss?
Ask by shri Robert Joseph
Robert ji,
1. My view is negative on gold and I think gold may touch price below 10000 in coming years.
2. Every commodity trade in a cycle and gold is not an extraordinary commodity and you knew that gold already down 10% from it all time high 18300.
3. I have no any unit of gold ETF and wait for invest in gold ETF below 10000.
4. But remember I am not a specialist of commodity market my experience in commodity is near about zero. And I may be wrong like other investors. So make your own decision about book loss or hold.
5. I think reason of high gold price is future trading on MCX and when price fall below 15000 stop loss triggers in huge quantity and then gold fall sharply. But when it happen I do not knew.

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