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 Post subject: Re: The price of Gold
PostPosted: Sun Aug 23, 2015 3:17 pm 
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Real Estate Developer

Joined: Jun 10, 2010
Posts: 889
I agree completely, but I believe right now, the fundamentals couldn't be better for gold.
I'll obviously sell it at some point, that being when I think there is sanity in the monetary system.
Right now, it's still on life support - remember the longer low interest rates are in place, the riskier people become investing.

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Irving Fisher, economist, October 17, 1929 - "Stock prices have reached what looks like a permanently high plateau"
Gold and Economic Freedom by Alan Greenspan - 1966
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 Post subject: Re: The price of Gold
PostPosted: Sun Aug 23, 2015 5:02 pm 
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Posts: 14892
Miner strikes gold as Kazakh currency drops by a quarter - -> http://www.telegraph.co.uk/finance/mark ... arter.html

A week in gold: Miners face loss of currency prop says researcher - -> http://www.proactiveinvestors.co.uk/com ... 09786.html

Quote:
Industry leader Barrick is one of those facing some very uncomfortable decisions if gold does dip again, especially with debts of more than US$12bn, but it said it was preparing for the worse.
At US$1,100 an ounce it reckons it can remain cashflow positive, at US$1,000 it will cut back staff and stop stripping at some mines but at US$900 it will take more drastic action.
Mines will be shut down and the focus moved to high grade ore.
All of the miners have retrenched to a degree so far, but most have so far stopped short of actual shut downs.
One of the props helping them to avoid mine closures has been the rise of the US dollar.
In South Africa, in particular, the rand’s depreciation against other currencies has been crucial in helping offset a weaker gold price.
According to research house Capital Economics falling currencies elsewhere have also played a big role in cushioning mining companies’ margins in recent years, but this may be about to end it suggests. A significant proportion of miners’ costs are denominated in local currencies, including labour and power.

there is more


Gold Miner Buenaventura: Losses Continue, Copper Optimism? - -> http://blogs.barrons.com/emergingmarket ... -optimism/

SA gold‚ platinum mines in trouble: Zuma - -> http://www.timeslive.co.za/sundaytimes/ ... ouble-Zuma

Kinross Gold swings to loss, but cuts debt - -> http://www.theglobeandmail.com/report-o ... e25762821/

One in 10 gold mines now uneconomical - -> http://www.mineweb.com/news/gold/one-in ... conomical/

BHP, PetroChina Slip as Commodity Rout Deepens on China Concern - -> http://www.bloomberg.com/news/articles/ ... ut-deepens


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 Post subject: Re: The price of Gold
PostPosted: Sun Aug 23, 2015 5:45 pm 
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Too Big to Fail

Joined: May 18, 2009
Posts: 4193
Forget about gold and shares, think I'll invest in lego instead. :)

Quote:
It may appear as no more than a popular children's toy, but investors were able to secure a better return buying Lego sets over the past 15 years than from the stock market, gold or bank accounts, a Telegraph analysis found.
Share prices tumbled on Friday, cancelling out all the gains made this year. The value of the FTSE 100 is no higher than it was in February 2000, meaning the average annual return to savers over the past decade and half is just 4.1 per cent once dividend payouts are included.
By contrast, Lego sets kept in pristine condition have increased in value 12 per cent each year since the turn of the Millennium, with second-hand prices rising for specific sets as soon as they go out of production. Modern sets are performing even more strongly, with those released last year already selling on eBay for 36 per cent more than their original price.


http://www.telegraph.co.uk/finance/pers ... -gold.html

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 Post subject: Re: The price of Gold
PostPosted: Sun Aug 23, 2015 6:21 pm 
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Too Big to Fail

Joined: May 18, 2009
Posts: 4193
Forget about gold and shares, think I'll invest in lego instead. :)

Quote:
It may appear as no more than a popular children's toy, but investors were able to secure a better return buying Lego sets over the past 15 years than from the stock market, gold or bank accounts, a Telegraph analysis found.
Share prices tumbled on Friday, cancelling out all the gains made this year. The value of the FTSE 100 is no higher than it was in February 2000, meaning the average annual return to savers over the past decade and half is just 4.1 per cent once dividend payouts are included.
By contrast, Lego sets kept in pristine condition have increased in value 12 per cent each year since the turn of the Millennium, with second-hand prices rising for specific sets as soon as they go out of production. Modern sets are performing even more strongly, with those released last year already selling on eBay for 36 per cent more than their original price.


http://www.telegraph.co.uk/finance/pers ... -gold.html

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"Abortion is the only event that modern liberals think too violent and obscene to portray on TV. This is not because they are squeamish or prudish. It is because if people knew what Abortion really looked like, it would destroy their pretence that it is a civilized answer to the problem of what to do about unwanted babies." ~ Peter Hitchen


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 Post subject: Re: The price of Gold
PostPosted: Mon Nov 02, 2015 3:58 pm 
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Of Systemic Importance

Joined: Feb 8, 2007
Posts: 5203
A bit off topic, but maybe someone here can help. A relative of mine recently passed away and left behind a whole pile of old silver coins (just over 2Kg of pre 1920/1947 UK crowns, half crowns and shillings). The family were going to sell these to a coin dealer (who made an obscenely low offer). I ended up paying a little extra over the coin dealer (but still well below spot price).

Any suggestions on where I can dispose of these?


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 Post subject: Re: The price of Gold
PostPosted: Mon Nov 02, 2015 4:48 pm 
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Under CAB Investigation

Joined: Oct 19, 2010
Posts: 2686
Location: Dublin SE
HouseBuyer wrote:
A bit off topic, but maybe someone here can help. A relative of mine recently passed away and left behind a whole pile of old silver coins (just over 2Kg of pre 1920/1947 UK crowns, half crowns and shillings). The family were going to sell these to a coin dealer (who made an obscenely low offer). I ended up paying a little extra over the coin dealer (but still well below spot price).

Any suggestions on where I can dispose of these?

Try Www.goldbank.ie they are based in D8 and I've always found them easy to use.

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 Post subject: Re: The price of Gold
PostPosted: Wed Nov 04, 2015 12:40 pm 
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Of Systemic Importance

Joined: Feb 8, 2007
Posts: 5203
In case anyone is in the same predicament, I threw the lot up on Donedeal at spot price. Had someone call that very evening to take the lot away at 2.5% under spot. Much better than the 2/3rd's of spot the dealer had offered.


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 Post subject: Re: The price of Gold
PostPosted: Wed Nov 04, 2015 5:41 pm 
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Speculator

Joined: May 23, 2009
Posts: 453
Risky business though! "Yeah random stranger drop over and take a look at my gold pile, see you soon"


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 Post subject: Re: The price of Gold
PostPosted: Sun Dec 13, 2015 4:07 pm 
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Posts: 14892
Why US investors claim half the treasure found in Colombia’s Caribbean - -> http://colombiareports.com/why-an-ameri ... caribbean/

Quote:
The gold inside the sunken galleon San Jose, found off the Caribbean coast of Colombia on Friday, is worth between a staggering $4B and $17B but is disputed by a US investor group that claims half of the treasure.

President Juan Manuel Santos tweeted late Friday night that divers had found the ship and its massive treasure 307 years after a British war ship sank the vessel just off the coast of Cartagena, now a tourism hotspot.

there is more


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 Post subject: Re: The price of Gold
PostPosted: Fri Jan 01, 2016 1:49 am 
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Real Estate Developer

Joined: Jun 10, 2010
Posts: 889
conork wrote:
Jan 2014 gold price $1225/€900

Jan 2015 gold price $1160/€985

approx


Jan 2016 gold price $1061/977

_________________
Jean-Claude Juncker - “We all know what to do, we just don’t know how to get re-elected after we’ve done it.”
Irving Fisher, economist, October 17, 1929 - "Stock prices have reached what looks like a permanently high plateau"
Gold and Economic Freedom by Alan Greenspan - 1966
Milton Friedman best moments


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