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RE: [sharechat] gold question by macdunk

From:	"Allan Potts" <ajp7079@excite.com>
Date:	Tue, 6 Jan 2004 01:58:43 -0500 (EST)


Hi MacDunk,

I have a fresh, real life, real time example for you to ponder.

When I saw gold spike up today I thought it might be a short squeeze, probably 
followed by a correction, so I sold about 75% of a fairly recently established  
position with the hope of buying it back a short distance down the road at a 
lower  price.  Only time will tell whether that analysis/action was correct or 
not.

However, this enables me to answer your question with an actual example.

Averag price of the gold mutual fund $15.51 sold today at $19.04 for a 22.76% 
profit.  Average holding time 1.5 months.

Kiwi dollar in US dollar terms during that time .5988 vs .6695 today for a 
11.81%  profit.

While both positions made a tidy  profit for me the gold did about twice as 
well.  I'd be happy to double my return anytime anywhere with any legal/moral 
product.

Ergo, while you Kiwi dollar is doing just fine thank you, gold is doing twice 
as well.

Cheers,

Allan






 --- On Mon 01/05, Duncan MacGregor < d-m_macgregor@xtra.co.nz > wrote:
From: Duncan MacGregor [mailto: d-m_macgregor@xtra.co.nz]
To: sharechat@sharechat.co.nz
Date: Tue, 6 Jan 2004 09:52:09 +1300
Subject: [sharechat] gold question by macdunk

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<DIV><FONT size=2>The year 2003 has come and gone.���� 
�The posters that have advised buying gold at the start of 2003 now Is the 
time to come out, and let us all know the 
result.�������� LAZY HAGGIS can I ask a 
few questions please?.��� I have absolutely no Interest In the 
quantity you bought or sold, only how you went about It, where you got It, how 
much In NZ dollar terms, what the price was at the start of the year, and what 
It was worth at the end.����� I can go on brokerage to 
buy and sell etc, the percentage of profit against what you made after 
expences.���<BR>To keep It simple you bought 10 ounces of gold on 
the first trading day In jan 2003 and sold on the last trading day In 
dec.<BR>The question Is open to all people buying and selling gold 
.���� Its pointless saying Gold was worth this In�US 
dollar terms and now It Is worth that when the dollar has dropped against ours 
making gold look much better than It really 
Is.<BR>������������������������������������������� 
� cheers 
macdunk<BR>����������� 
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