Gold at all-time high

[Susco]

5 minutes ago, Logosone said:

What's your point?

No point your highness

[Brunolem]

9 hours ago, Logosone said:

Gold fell from 1960 to 1940.

 

It's something. 

Then it went back up.

 

A consolidation around this level would be welcome.

 

The next step will depend on the size of the relief package Congress is going to vote...the bigger the better...for gold, that is...

[LivinLOS]

On 7/25/2020 at 11:40 PM, LivinLOS said:

Will gold go up ? anyone who says they know is lying, correct bets on things like this make billionaires.. My bet is we will soon see new usd highs, then a breakthrough into the low 2k and in the next 18 - 24 months maybe even work into the mid 2k range. If all the forces that are possible combine, gold could be 3 - 5k USD this decade.. It could also be 12 or 1300 again, thats the beauty of markets. 

I expect silver to break the mid 20s resistance inside 6 - 12 months and be 30s in the next <24 months.. 50 will be big psychological resistance as that is the rim of that long term cup, but a break past 50 ?? 80 ?? 100 ?? 150 ?? Measured in very long terms, centuries and millennia, silver is as cheap as it has been in 1000s of years. 

On, and in, the money so far.. ???? 

[Brunolem]

1 hour ago, LivinLOS said:

On, and in, the money so far.. ???? 

"If all the forces that are possible combine, gold could be 3 - 5k USD this decade."

 

I see gold going way beyond 5K by the end of this decade, because most Western currencies, starting with the USD, are in the final phase leading to their intrinsic value, which is...zero!

 

[samtab]

So should we buy ?

[bkk6060]

Buy Apple or Facebook stock.

Gold is useless.

[Dazinoz]

1 minute ago, bkk6060 said:

Buy Apple or Facebook stock.

Gold is useless.

Wow

[bkk6060]

5 minutes ago, Dazinoz said:

Wow

Yes thanks.

That is what I am saying as I have seen my investment in those companies triple over the past several years.

[warcy]

23 hours ago, Brunolem said:

"If all the forces that are possible combine, gold could be 3 - 5k USD this decade."

 

I see gold going way beyond 5K by the end of this decade, because most Western currencies, starting with the USD, are in the final phase leading to their intrinsic value, which is...zero!

 

 

I really don't understand how the US can just print and print money without losing value. If every country print more money, nobody needs to work anymore.

 

 

 

 

 

[Susco]

On 7/26/2020 at 5:40 AM, LivinLOS said:

My bet is we will soon see new usd highs, then a breakthrough into the low 2k and in the next 18 - 24 months maybe even work into the mid 2k range.

I think history shows that when the dollar rises, gold price decreases in US currency, and vice versa.

 

So both increasing at the same time would be exceptional.

[nauseus]

33 minutes ago, bkk6060 said:

Yes thanks.

That is what I am saying as I have seen my investment in those companies triple over the past several years.

All good bad things come to an end. Maybe you should consider a trim, at least?

Edited August 8, 2020 by nauseus

[nauseus]

29 minutes ago, Susco said:

I think history shows that when the dollar rises, gold price decreases in US currency, and vice versa.

 

So both increasing at the same time would be exceptional.

But it's been happening on some days recently. Exceptional times.

Edited August 8, 2020 by nauseus

[Brunolem]

1 hour ago, bkk6060 said:

Yes thanks.

That is what I am saying as I have seen my investment in those companies triple over the past several years.

This is called inflation, and has nothing to do with the companies' performances. 

 

Just have a look at the stock market in Venezuela... going up vertically... 

 

So you are surfing on the inflationary wave of (fake) money unleashed by central banks. 

 

Gold on the other hand is only measuring the diminishing value of currencies. 

 

Over time, gold doesn't go up or down, it just maintain its purchasing power. 

 

It is the money of reference. 

[Brunolem]

1 hour ago, warcy said:

 

I really don't understand how the US can just print and print money without losing value. If every country print more money, nobody needs to work anymore.

 

But it is losing value, a lot! 

 

Since the creation of the Fed, a little more than a hundred years ago, the dollar has lost 98% of its value against gold, and in purchasing power. 

 

What keeps the dollar going is that it is the world reserve currency, and notably the currency used to buy and sell oil. 

 

But more and more countries are getting fed up with the US abuse of its privilege, and the pressure is growing. 

[warcy]

1 hour ago, Brunolem said:

But it is losing value, a lot! 

 

Since the creation of the Fed, a little more than a hundred years ago, the dollar has lost 98% of its value against gold, and in purchasing power. 

 

What keeps the dollar going is that it is the world reserve currency, and notably the currency used to buy and sell oil. 

 

But more and more countries are getting fed up with the US abuse of its privilege, and the pressure is growing. 

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

[meechai]

8 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

Hahah go ask Saddam Hussein how that worked out for him

[Brunolem]

11 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

In the early 70s Henry Kissinger went to Saudi Arabia and made a deal: in exchange for US protection, Saudi Arabia, and by extension all its oil cartel neighbors, would sell their oil only in dollars.

 

It has worked quite well for both sides, since the Gulf feudal regimes are still in place, and the dollar is still the currency of reference.

 

Those who tried to sell their oil in other currencies are either not here anymore, Saddam and Gaddafi, or under tremendous pressure, like Iran or Venezuela.

 

The US is acting exactly like the mafia, on a much larger scale, using protection racket to keep under its control vast areas of the world.

 

The dollar is the world reserve currency because, beyond oil, many other commodities, starting with gold, are bought and sold using dollars.

 

Think that even Alibaba, a Chinese corporation selling Chinese products, charges its customers in USD, not in Yuans.

 

[Brunolem]

13 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

Here is an interesting article with lots of data regarding gold and the currencies... 

 

https://www.voimagold.com/insight/gold-price-crosses-2-067-us-dollar-devalues-by-99-against-gold-in-100-years

[AverageBloke]

6 hours ago, Brunolem said:

In the early 70s Henry Kissinger went to Saudi Arabia and made a deal: in exchange for US protection, Saudi Arabia, and by extension all its oil cartel neighbors, would sell their oil only in dollars.

 

It has worked quite well for both sides, since the Gulf feudal regimes are still in place, and the dollar is still the currency of reference.

 

Those who tried to sell their oil in other currencies are either not here anymore, Saddam and Gaddafi, or under tremendous pressure, like Iran or Venezuela.

 

The US is acting exactly like the mafia, on a much larger scale, using protection racket to keep under its control vast areas of the world.

 

The dollar is the world reserve currency because, beyond oil, many other commodities, starting with gold, are bought and sold using dollars.

 

Think that even Alibaba, a Chinese corporation selling Chinese products, charges its customers in USD, not in Yuans.

 

It's really quite interesting because in the last 5 years Russia and China have been working towards a trade agreement that will exclude the US dollar. This could have huge ramifications regarding their reserve currency status. These uncertainties tend to make people very nervous and that is probably another driver for gold. 

[warcy]

4 hours ago, AverageBloke said:

It's really quite interesting because in the last 5 years Russia and China have been working towards a trade agreement that will exclude the US dollar. This could have huge ramifications regarding their reserve currency status. These uncertainties tend to make people very nervous and that is probably another driver for gold. 

 

I thought Russia has huge amount of oil, why do people need to buy from the Arab countries?

[Brunolem]

12 hours ago, warcy said:

 

I thought Russia has huge amount of oil, why do people need to buy from the Arab countries?

Oil buyers want to be as diversified as possible, so as not be dependent on one or two countries for their energy supplies.

 

So they buy from both Russia and the Middle East, and a few others...

[LivinLOS]

On 8/8/2020 at 2:15 PM, Susco said:

I think history shows that when the dollar rises, gold price decreases in US currency, and vice versa.

 

So both increasing at the same time would be exceptional.

We will first see gold at new USD highs (happened already) and then a break to the mid 2s level.. Fairly easily. 

I dont see that happening in a straight line, and actually thought the run to high 20xx was a bit fast so the current pullback is expected and welcomed, I lightened up on some of my highly leveraged trades and am trying to build a bigger position now but hard to pick bottoms. 

[LivinLOS]

On 8/7/2020 at 2:29 PM, Brunolem said:

"If all the forces that are possible combine, gold could be 3 - 5k USD this decade."

 

I see gold going way beyond 5K by the end of this decade, because most Western currencies, starting with the USD, are in the final phase leading to their intrinsic value, which is...zero!

 

its possible, I also think that this is a not insignificant possibility but not my probability case. 

 

I have significant stored metal holdings out side of thailand and any event even halfway there secures me for many lifetimes. Its the bet I have been banking on for a while. 

[Captain Monday]

So I should sell all my EETFs now????

Should I go all US dollars or all "gold coins"?

[Brunolem]

39 minutes ago, Captain Monday said:

So I should sell all my EETFs now????

Should I go all US dollars or all "gold coins"?

Yes you should...

 

https://goldswitzerland.com/buyer-beware-gold-etfs-like-gld-own-no-gold/

[bkk6060]

1 hour ago, Captain Monday said:

So I should sell all my EETFs now????

Should I go all US dollars or all "gold coins"?

For long term dump it all don't drink the kool aid of the gold/crypto fanatics. Gold over the past 10 years has not even kept pace with a conservative index fund.

It is a brainless non-productive lump of metal wasting away in a safe. 

Take it out everyday and hold it makes some feel rich I guess.

 

 

Edited August 14, 2020 by bkk6060

[Brunolem]

2 minutes ago, bkk6060 said:

For long term dump it all don't drink the kool aid of the gold/crypto fanatics. Gold over the past 10 years has not even kept pace with a conservative index fund.

It is a non productive brainless lump of metal wasting away in a safe. 

Take it out everyday and hold it makes some feel rich I guess.

 

 

Cherrypicking one more time.

 

Why don't you look at gold performance against all currencies during this century or, if you prefer, since 1971 and the closure of the gold window by Nixon, at a time when gold price was at 35 dollars an ounce, and had been the same for decades?

 

[bkk6060]

36 minutes ago, Brunolem said:

Cherrypicking one more time.

 

Why don't you look at gold performance against all currencies during this century or, if you prefer, since 1971 and the closure of the gold window by Nixon, at a time when gold price was at 35 dollars an ounce, and had been the same for decades?

 

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  ????

 

Edited August 14, 2020 by bkk6060

[Dazinoz]

11 minutes ago, bkk6060 said:

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  ????

 

Why is it you have to go back so far to say an "investment" is good or not? Why can it not be varied to suit the times?

 

I bought a rental house in Australia, had it 10 years and after rent income, tax savings etc I lost $50,000 out of pocket. Yes another 6 months and I would have broken nearly even. 

 

I had many shares they disappeared off the board and everything lost.

 

I came to Thailand 7 years ago and after reading predictions on possible future economies I starting buy Thai gold bars as easy to do so. I started this 5 years ago. I bought and sold and was up to 50 baht total but now down to 32 baht. If I sold right now at time of writing I would make 306,208 baht profit. Not too bad for 5 years. 

 

I also bought 100kg pool allocated silver in Australia around the same time. I have sold 60 kg, 20 of which were very recent. On that I HAVE made a $14,036aud profit. Again 5 years.

 

Gold and silver may drop in value over time but I will NEVER lose on them unlike many shares I had owned in Australia.

 

I have also played around with a few cryptos in about a 2 to 3 year period and I am up $10,000aud on paper as of today.

 

I have my exit plans for all 3 investments.

 

If you, as an "anti golder", think bad investments good for you. I have done well out of these.

 

 

[jimgilly]

2 hours ago, Captain Monday said:

So I should sell all my EETFs now????

Should I go all US dollars or all "gold coins"?

Right, go all USD.  You'll soon be a trillionaire just like in Zimbabwe.  Of course it will cost 1 million to buy that cup of coffee at Starbucks.  The handwriting is already on the walls.  You just need to read it.