buying gold here?

I am tempted to pick up some GLD......
(I am afraid it will be a mini correction for 15-20 points at least with major support of ~500, minor supp 525.....

 

if you can figure out if the next $50 is up or down
in spot gold or the next 50 cents up or down in spot silver

let me know !!

 

I am hoping for a pullback to $500 ish and then I will unload some of my USD. I think gold is golden to 750 at least, but there will be pullbacks.

 

What's the best way to get long gold for the "longer term" ?

Short, I guess, of buying bullion. Moving long futures forward in a carry market seems a losing proposition? Or am I missing something?

 

You could buy GLD shares that track Gold or a Perth Mint Cert, which has a 2% comm on it.

 

There is no cost paid to hold GC back months: the difference between back months and spot, which appears to be lost with time, is derived from the risk-free-rate. An example: should you borrow money to buy bullion, you would have to pay interest for the loan.

 

If you play in gold now, I'd leave a trailing stop, when gold tanks it really tanks.

 

I just bought GLD for my family trust account small.

 

I just did....

 

surely a $25 off list price sale hasn't cure all that ills the earth...