Gold busted through $1200 and on its way to $5000 some say. So load up, but don't count on your jewelry. Although gold value increases the price in retail gold jewelry, it does not hold the same value on re-sale, hence you can never count on getting your money back. In fact much gold jewelry ends up being melted down by those buyers who pay a fraction of your cost for them. In a pinch however jewelry is good barter.
On the other hand, gold coins are a good bet and can be worn as jewelry. Mounted in a pretty frame,called a bezel, it makes a lovely pendant on a gold chain and they have also been incorporated in a ring, and more rarely in a brooch. So consider that for your gift list instead. My favorite is the Austrian Ducat which is among the purest strikes, but I favor it for personal reasons. If you do decide to search for a gold coin, be sure to study the subject and go to a reputable coin or antiques dealer. Here area a couple of sites to start your off:
http://www.goldprice.org/gold-coins.html and http://www.goldline.com/
Disclosure: The above postings are for information purposes only. I have no affiliation with these sites, nor have I made any purchases from them.
Now for a little departure from the norm, here are some gold trades:
SA Long above $26.50 and $27.50 to about $28.50- $29, heading higher above $29.50 to near $31. Short below $25 and $24 to about $22.
AUY Is a potential break out play. Here it's trying to break above the $14 and has made several attempts. For AUY the key is to hold between $13.50 and $14.00 a strong volume break above, will propel it toward the $15.30 area and then to $16,00. Consider it for a short term hold. It has some severe pullbacks so, please consider your risk tolerance here.
GLD Remember last August, in a strategy session I said long above $95.00? Well this horse has left the barn, yet it may not be quite finished. Depending on how intense gold fever may get I still see more highs before lows, but don't bet the barn on it, your horse may need it once again. I will stay cautious here and just watch. For a scalp,Short below $118 to about $115, Long above $118 to near $120.
BIDU let some air out near close, and judging from that, I'll keep the calls to same level as yesterday, with an added caution for the downside. Seems dissapointement of an at the close rally may have sent this and others tumbling, so who's to say it won't happen again.
MA is on a good track here, so this too will keep it the same as yesterday with the above mentioned caution.
and for a final note:
Happy Trading, Living and Dancing