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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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 Post subject: Re: The price of Gold
PostPosted: Sun Aug 23, 2015 5:02 pm 
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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: 4191
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: 4191
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: Mon Nov 02, 2015 3:58 pm 
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Of Systemic Importance

Joined: Feb 8, 2007
Posts: 5197
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: 2670
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: 5197
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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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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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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 Post subject: Re: The price of Gold
PostPosted: Fri Jan 01, 2016 2:46 pm 
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Under CAB Investigation
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Joined: Apr 2, 2008
Posts: 2050
Location: Cork and Kerry
conork wrote:
conork wrote:
Jan 2014 gold price $1225/€900

Jan 2015 gold price $1160/€985

approx


Jan 2016 gold price $1061/977


The big story here it seems in the ongoing weakening in the value of the Euro versus the Dollar.
This has also be seen versus Sterling.
Where to next?

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 Post subject: Re: The price of Gold
PostPosted: Fri Jan 01, 2016 5:58 pm 
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Neo Landlord

Joined: Aug 26, 2012
Posts: 281
Terra Incognita wrote:
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 http://Www.goldbank.ie they are based in D8 and I've always found them easy to use.


i would seriously advise against using the above crowd , bought off them a number of years ago , when i tried to sell back eighteen months later , they wanted 8% commission , sold to goldcore instead who charged 1%

luckily i got out at the right time ( early 2012 ) having bought in 2010


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 Post subject: Re: The price of Gold
PostPosted: Wed Jan 06, 2016 2:34 pm 
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Under CAB Investigation

Joined: May 2, 2008
Posts: 1613
Location: Ireland
I am selling more of my 1oz coins (5 of them). If anyone is interested, PM me. I will sell at spot.


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 Post subject: Re: The price of Gold
PostPosted: Sun Jan 10, 2016 11:31 pm 
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Posts: 23174
Wasn't sure where to post this... :x

Quote:
Nine planes belonging to country's royal fleet are reported to have made unscheduled landings in Switzerland due to serious medical alert - See more at: http://www.middleeasteye.net/news/qatar ... SjfH7.dpuf

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 Post subject: Re: The price of Gold
PostPosted: Sun Jan 10, 2016 11:41 pm 
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Location: Somewhere up in the hills
That story is 2 weeks old now.

Edit: Ah right, I see what your getting at now. Hat tip to Daniel.


Last edited by Coles2 on Mon Jan 11, 2016 12:38 am, edited 1 time in total.

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