The price of Gold


#4241

:laughing: Peter Schiff has capitulated.


#4242

He’s often spoke about the uses of gold and silver when people point out to him that they’re just useless chunks of metal.


#4243

S Korean cleaner loses out after finding gold in bin
bbc.com/news/blogs-news-from … e-43972394

Imagine being in that position…(lugging 7kg of gold though an airport, all stressed :confused: )

buy gold they said! :slight_smile:

Seems a bit bullshitty. The cleaners right to claim (imho) should exist outsider his terms of employment.

(Perhaps a poster versed in the law would have a better reason why he would forfeit that right?)


#4244

Gold seems to be tanking (slowly)

Below $1,200 now.

Presumed flight to US Treasuries paying 3% vs Golds… nothing?


#4245

GOLD - Who has the most in the world?

It appears the US has and by a mighty wide margin, perhaps this is all that matters (+ ability to defend it) for the foreseeable future.

Is it BUY?

For the small guy more importantly is it a last chance to get in, by months, by weeks, maybe days (don’t really think days) before the economic crustal plates of economic stability begin to stir, panic sets in then grips.

Do you get your seat on the escape rocket headed for the Moon now or do you wait? :sweat_smile:


*$1,316
*€1,165

* goldprice.org @ time of posting.

#4246

Its a tough one. The price has been stuck in around the same range for the last 4/5 years. I’ve bought some but have regretted it and its making me adverse to buying more (there’s probably a term for this). My head says buy more but me heart is saying no


#4247

It’s only the Bankers who get to decided that Gold is Tier-3 asset right.

Actually to update that post, no. Under Basel II a country could choose, however it’s Basel III now but that does not appear to have changed.

What was the purpose of Russia and China buying up so much gold over the last broadly speaking decade.

How has Gold price or general price manipulation been enacted (historically) and is it effective in the short medium or long term.


#4248

What about QE4/5?

Yours only if you can keep it.

This is also this risk to consider…(there’s plating too.)


#4249

@snaps You (we) are the enemy. :crazy_face:


#4250

I’m playing devils advocate. :japanese_ogre:


#4251

USA comes off Gold, Nixon address the Bugaboo of de-valuation.


“…If you are among the overwhelming majority of Americans, who buy American made products in America, your dollar will be worth as much tomorrow as it is today…”


#4253

One problem with storing part of a country’s wealth in Gold reserves.
What if you get a foolish government that decide to sell it off?

Between 1999 and 2002 the Treasury sold 401 tonnes of gold - out of its 715-tonne holding - at an average price of $275 an ounce, generating about $3.5bn during the period.

Some countries - she cites Vietnam as a good example - have bought gold as security for raising money on the international financial markets in order to avoid default.

It’s clear that for many governments, the demise of gold has been greatly exaggerated. The World Gold Council (WGC) says that purchases by central banks in the first three months of 2019 were the highest in six years as countries diversified away from the dollar. China and Russia were the biggest buyers.


#4254

Surely that is a problem with the government having the authority to and suffering no consequences for making bad investment decisions on behalf of the country rather than a problem intrinsic to gold specifically?


#4255

That’s true, it’s not a problem with gold in itself.
The chancellor (Brown, who had the authority) over ruled the BOE at the time.

Gold will be of use <1% of the time in the longer economic cycle. (in which time Governments will come and go.)


#4256

I went digging back in 2011 around the issue of Irish Gold and the pursuance of the same sell-off policy which mirrored the UK via Gordon Brown sell off at a low.

Old Thread is here, replete with Uncle Windows trademark typo and full spectrum grammar fluidity: