BuffaloRescue Posted April 9, 2012 Share Posted April 9, 2012 (edited) Gold is going up.. in the long run. Period. As with any investment if you can keep ahead of the real rate of inflation you are doing WELL. Gold has traditionally always kept up with the rate of inflation... almost exactly actually. Compare a chart of the money supply to gold price...http://goldnews.bullionvault.com/gold_money_supply_012820093 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. People dont make money from gold.. they just protect their money. Central banks have been robbing us for years... robbing the poor people who are most exposed to inflation. And they expect you to pay tax on your "gains" even though they arent actually gains at all. Trying to trade is is a mugs game. Watching the charts every day is a waste of time. There s a good argument for 20-50% of your money in Gold/Silver. Of course.. if we are heading for a systemic collapse there may be a huge bubble in the gold price while everyone moves to gold (probably pre-cedded by a drop as everyone moves to the dollar before they figure out that is also <deleted>**ed). Chance to make some huge gains 50-100%+ temporarily if you are brave and get in and out at the right times. The strange thing with gold, looking at the shot term, ive noticed is that fear of inflation drives the price up.. but actual inflation (stats provided by Gov) drives it down. I cant get my head around that one. If you are a risk taker get a doubler ETF otherwise just hold the metal.. think of it as your retirement fund. I honestly cant see how people can make money trading it? Probably better to play poker Thailand is an excellent place to buy gold. The spread is low.. even with jewelry. 30 baht gold chains can be easily taken through customs without having to pay import taxes. Gold bars are usually subject to duties. Coins are best (but not generally available in Thailand), Silver is a no-go as it carries GST in Thailand. Read Daily Reckoning, Money Week / Morning, Zero Hedge Edited April 9, 2012 by BuffaloRescue Link to comment Share on other sites More sharing options...
Naam Posted April 9, 2012 Share Posted April 9, 2012 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. People dont make money from gold.. they just protect their money. Link to comment Share on other sites More sharing options...
BuffaloRescue Posted April 9, 2012 Share Posted April 9, 2012 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. People dont make money from gold.. they just protect their money. I do appologise old bean.. if someone already said that.. i didnt read all 6000 replies! Link to comment Share on other sites More sharing options...
Naam Posted April 9, 2012 Share Posted April 9, 2012 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. am i right to assume that the tailors and the shoemakers charged in 1970 only 35 dollars for a suit and shoes, in jan 1980 they hiked their price to around 800 dollars, ten years later in 1990 they reduced the price to 350, another ten years they charged only 250 and last year they demanded 1,900 dollars? AW JEEZ! Link to comment Share on other sites More sharing options...
Jayman Posted April 9, 2012 Share Posted April 9, 2012 FXstreet.com (Barcelona) - After testing support around 1635 as the trading week started, Gold went off to the upside above the opening price at 1642, printing its daily high at 1638.70 in early NY session. Resistance plunged the commodity back to the opening price area, but Gold quickly recovered and has returned to daily highs. “Gold short-term trend remains weak beneath its 200-day average”, writes MIG Bank analyst Howard Friend, adding that it’s “still worth remembering the dramatic $103 one-day drop which will continue to offer psychological pressure for investors and traders”. MIG Bank analysts point to 1600, 1567 and 1522 as supports for the pair. Below there, gold could even drop to 1460 and 1300. “Only a sustained confirmation above $1810 will put the bearish scenario on hold and offer further extended recovery higher on gold”, says Friend. http://www.fxstreet.com/news/forex-news/article.aspx?storyid=a819c8cd-3d5e-42b7-b02e-0ff2b04cb583 Link to comment Share on other sites More sharing options...
letitbe Posted April 9, 2012 Share Posted April 9, 2012 Gold is going up.. in the long run. Period. As with any investment if you can keep ahead of the real rate of inflation you are doing WELL. Gold has traditionally always kept up with the rate of inflation... almost exactly actually. Compare a chart of the money supply to gold price...http://goldnews.bullionvault.com/gold_money_supply_012820093 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. People dont make money from gold.. they just protect their money. Central banks have been robbing us for years... robbing the poor people who are most exposed to inflation. And they expect you to pay tax on your "gains" even though they arent actually gains at all. Trying to trade is is a mugs game. Watching the charts every day is a waste of time. There s a good argument for 20-50% of your money in Gold/Silver. Of course.. if we are heading for a systemic collapse there may be a huge bubble in the gold price while everyone moves to gold (probably pre-cedded by a drop as everyone moves to the dollar before they figure out that is also <deleted>**ed). Chance to make some huge gains 50-100%+ temporarily if you are brave and get in and out at the right times. The strange thing with gold, looking at the shot term, ive noticed is that fear of inflation drives the price up.. but actual inflation (stats provided by Gov) drives it down. I cant get my head around that one. If you are a risk taker get a doubler ETF otherwise just hold the metal.. think of it as your retirement fund. I honestly cant see how people can make money trading it? Probably better to play poker Thailand is an excellent place to buy gold. The spread is low.. even with jewelry. 30 baht gold chains can be easily taken through customs without having to pay import taxes. Gold bars are usually subject to duties. Coins are best (but not generally available in Thailand), Silver is a no-go as it carries GST in Thailand. Read Daily Reckoning, Money Week / Morning, Zero Hedge Gold is going up.. in the long run. Period. As with any investment if you can keep ahead of the real rate of inflation you are doing WELL. Gold has traditionally always kept up with the rate of inflation... almost exactly actually. Compare a chart of the money supply to gold price...http://goldnews.bullionvault.com/gold_money_supply_012820093 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. People dont make money from gold.. they just protect their money. Central banks have been robbing us for years... robbing the poor people who are most exposed to inflation. And they expect you to pay tax on your "gains" even though they arent actually gains at all. Trying to trade is is a mugs game. Watching the charts every day is a waste of time. There s a good argument for 20-50% of your money in Gold/Silver. Of course.. if we are heading for a systemic collapse there may be a huge bubble in the gold price while everyone moves to gold (probably pre-cedded by a drop as everyone moves to the dollar before they figure out that is also <deleted>**ed). Chance to make some huge gains 50-100%+ temporarily if you are brave and get in and out at the right times. The strange thing with gold, looking at the shot term, ive noticed is that fear of inflation drives the price up.. but actual inflation (stats provided by Gov) drives it down. I cant get my head around that one. If you are a risk taker get a doubler ETF otherwise just hold the metal.. think of it as your retirement fund. I honestly cant see how people can make money trading it? Probably better to play poker Thailand is an excellent place to buy gold. The spread is low.. even with jewelry. 30 baht gold chains can be easily taken through customs without having to pay import taxes. Gold bars are usually subject to duties. Coins are best (but not generally available in Thailand), Silver is a no-go as it carries GST in Thailand. Read Daily Reckoning, Money Week / Morning, Zero Hedge silver is meant to attract GST but you can easily buy 99.99% silver beads used for jewellery and are not charged tax. Weather this is because its exempt or just another example of how no one seems to obey law or rules here I dont know. I have bought and sold silver 99.99% pellets over years and spread at moment is 1000 baht a kg which is around 3% instead of 0.5% or less for gold. GST is never charged for this type of silver Link to comment Share on other sites More sharing options...
letitbe Posted April 9, 2012 Share Posted April 9, 2012 In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. am i right to assume that the tailors and the shoemakers charged in 1970 only 35 dollars for a suit and shoes, in jan 1980 they hiked their price to around 800 dollars, ten years later in 1990 they reduced the price to 350, another ten years they charged only 250 and last year they demanded 1,900 dollars? AW JEEZ! In roman times an Oz of gold bought a gentleman a good tunic, boots and a belt. Today and Oz of gold will buy you a good suit and good shoes. am i right to assume that the tailors and the shoemakers charged in 1970 only 35 dollars for a suit and shoes, in jan 1980 they hiked their price to around 800 dollars, ten years later in 1990 they reduced the price to 350, another ten years they charged only 250 and last year they demanded 1,900 dollars? AW JEEZ! dont be silly its beneath your normal good comments no asset over time exactly matches inflation but real assets over long long term normally do All things being equal which they are not gold and silver is probably overpriced but that does not stop me having 30% or so of our total assets in stuff just in case since if doomsayers are right and they could easily be its about only easily convertible asset around. Property is great IMO and over time will bet gold since it can give an income so are shares but in a real emergency only PM again IMO p gives a means to get quickly and easily fiat money or whatever to buy what is needed. I am of course talking real physical stuff although we do hold 1/2 our PM in places like bullinavault and gold silver and even HSBC London unallocated gold and SLV GLD. Obviously HSBC london loco unallocated cant be fully backed or at all backed by real stuff but then if they go bust its a whole new game and SLV GLD is same but it provides a very liquid way to get fiat stuff to buy real assets like property or shares or whatever or to get fiat rubbish needed to buy bread etc. Link to comment Share on other sites More sharing options...
KamalaDreamer Posted April 9, 2012 Share Posted April 9, 2012 now India is back from strike ..'Trading closed with a premium of about 10 dollars for gold and about 12 cents for Silver compared to US close on Thursday. because India has introduced recently a 1% special tax on precious metals trading? You seem to have an answer to every question Mr Naam. The questions that matter get deleted. Never mind. most facts (like the one above) which i post are either ignored, negated or labelled negatively if they do not comply with resident prevailing wishful thinking. an undeniable fact is that India has introduced recently an additional tax which will not be scrapped because some "dreamer" posts the irrelevant and unwarranted comment "you seem to have an answer for every..." The never-ending price hike of gold rates seems to have an adverse effect on gold traders following the additional taxes levied by the Union in this year’s Budget. Speaking to reporters on Monday, S Venkatesh Babu, member of All India Gems and Jewellery Trade Federation (AIGJTF), said, “There has been a constant increase in our business. One per cent custom duty has been increased to 4 per cent, in addition to the 3 per cent central excise duty and 2 per cent of VAT. Likewise, when it comes to cash sales, 1 per cent for cash transactions of `2 lakh is being paid.” “With this kind of decision, various illegal activities like smuggling and black markets will flourish, and affect middle class people who are already at the receiving end. They will suffer from price rise,” he warned. http://ibnlive.in.co...879-60-119.html Probably best ignored Naam. I'll settle for varnished wood. Careful on the bar stool. Link to comment Share on other sites More sharing options...
KamalaDreamer Posted April 9, 2012 Share Posted April 9, 2012 Back to page 1. OP's original post is possibly the longest ever on TV. Well done Churchill. A thread of Gold. First instinct is usually the correct one. Link to comment Share on other sites More sharing options...
Naam Posted April 9, 2012 Share Posted April 9, 2012 dont be silly its beneath your normal good comments no asset over time exactly matches inflation but real assets over long long term normally do All things being equal which they are not gold and silver is probably overpriced but that does not stop me having 30% or so of our total assets in stuff just in case since if doomsayers are right and they could easily be its about only easily convertible asset around. Property is great IMO and over time will bet gold since it can give an income so are shares but in a real emergency only PM again IMO p gives a means to get quickly and easily fiat money or whatever to buy what is needed. I am of course talking real physical stuff although we do hold 1/2 our PM in places like bullinavault and gold silver and even HSBC London unallocated gold and SLV GLD. Obviously HSBC london loco unallocated cant be fully backed or at all backed by real stuff but then if they go bust its a whole new game and SLV GLD is same but it provides a very liquid way to get fiat stuff to buy real assets like property or shares or whatever or to get fiat rubbish needed to buy bread etc. -a typical "rebuttal" and unsuccessful attempt to steamroll hard facts (35, 800, 250, 1900 dollars) with an irrelevant noncommittal platitude, -followed by a number of statements which have no bearing at all on the last discussion "roman tunic then, suit now." Link to comment Share on other sites More sharing options...
waza Posted April 10, 2012 Share Posted April 10, 2012 I agree with Namm gold isnt money, its a heavy metal with a universally accepted market value. I feel that investing in gold is akin to investing in any commodity profit is made when market demand is high and losses are made when it is low. I keep a certain amount of gold as a golden parachute, that is if I can break a few links of my heavy chains to barter a way out. This is the true value of gold. as a safe haven. However, when you consider value per weight nothing beats plastic, for example I have a small plastic card here worth over $100,000 US Link to comment Share on other sites More sharing options...
flying Posted April 10, 2012 Share Posted April 10, 2012 . However, when you consider value per weight nothing beats plastic, for example I have a small plastic card here worth over $100,000 US Link to comment Share on other sites More sharing options...
udonguy Posted April 10, 2012 Share Posted April 10, 2012 so... where is Gold going? Link to comment Share on other sites More sharing options...
flying Posted April 10, 2012 Share Posted April 10, 2012 so... where is Gold going? Right now in dollars? Up As the USD goes down Link to comment Share on other sites More sharing options...
waza Posted April 10, 2012 Share Posted April 10, 2012 so... where is Gold going? Gold is going into vaults and jewelery boxes, The price of gold will stagnate til he US economy takes a dump then it will rise or it will continue to decrease as the US economy appears to improve. In my lamen opinion I believe the price of gold is in a bubble and is slowly deflating. Link to comment Share on other sites More sharing options...
Naam Posted April 10, 2012 Share Posted April 10, 2012 so... where is Gold going? Gold is going into vaults and jewelery boxes, The price of gold will stagnate til he US economy takes a dump then it will rise or it will continue to decrease as the US economy appears to improve. In my lamen opinion I believe the price of gold is in a bubble and is slowly deflating. i'm not sure whether it's a bubble but a lot of people realised that gold is not marching along a one-way street. minus 15% in 7 months is scary for some "investors" who timed their entry wrong. Link to comment Share on other sites More sharing options...
waza Posted April 10, 2012 Share Posted April 10, 2012 (edited) so... where is Gold going? Gold is going into vaults and jewelery boxes, The price of gold will stagnate til he US economy takes a dump then it will rise or it will continue to decrease as the US economy appears to improve. In my lamen opinion I believe the price of gold is in a bubble and is slowly deflating. i'm not sure whether it's a bubble but a lot of people realised that gold is not marching along a one-way street. minus 15% in 7 months is scary for some "investors" who timed their entry wrong. I see people are realising gold is a poor investment as it pays no dividends or interest. The only way to make money on it is through capital gains, minus transaction costs and storage fees, which is totally dependant on markets forces. I bought my gold at 18000 per baht which i think would be closer to its true value. But this is just my uneducated simplistic opinion. Edited April 10, 2012 by waza Link to comment Share on other sites More sharing options...
BuffaloRescue Posted April 10, 2012 Share Posted April 10, 2012 (edited) dont be silly its beneath your normal good comments no asset over time exactly matches inflation but real assets over long long term normally do All things being equal which they are not gold and silver is probably overpriced but that does not stop me having 30% or so of our total assets in stuff just in case since if doomsayers are right and they could easily be its about only easily convertible asset around. Property is great IMO and over time will bet gold since it can give an income so are shares but in a real emergency only PM again IMO p gives a means to get quickly and easily fiat money or whatever to buy what is needed. I am of course talking real physical stuff although we do hold 1/2 our PM in places like bullinavault and gold silver and even HSBC London unallocated gold and SLV GLD. Obviously HSBC london loco unallocated cant be fully backed or at all backed by real stuff but then if they go bust its a whole new game and SLV GLD is same but it provides a very liquid way to get fiat stuff to buy real assets like property or shares or whatever or to get fiat rubbish needed to buy bread etc. -a typical "rebuttal" and unsuccessful attempt to steamroll hard facts (35, 800, 250, 1900 dollars) with an irrelevant noncommittal platitude, -followed by a number of statements which have no bearing at all on the last discussion "roman tunic then, suit now." I accept what your saying. The big question is what other investment hasn't had bubbles like that? Where else to put your money.... so your wife cant find it? What are you comparing it against? Comparing to house prices in the UK its back to 1990 adjusted levels now which i suppose is scary in a way but then maybe that makes it a good buying opportunity. The only trend i can see is for gold is comparing it to the money supply. 30-50% id agree with. But what else to buy? Edited April 10, 2012 by BuffaloRescue Link to comment Share on other sites More sharing options...
Naam Posted April 10, 2012 Share Posted April 10, 2012 long-term outlook positive Gold • Uptrend since 2008 to be broken in 2Q12 • Insufficient investment demand is likely to trigger a break of the uptrend in gold that has been ongoing since 2008. • A deteriorating technical picture poses risks for a large part of the 460 tons in non-commercial net long futures positions by non-commercial accounts. • Given the high likelihood of a price dip to USD 1,520/oz, we strongly recommend that investors protect their gold long positions during 2Q12. Higher prices require stronger financial demand Investment demand needs to grow to keep the gold price appreciating. We now estimate that financial demand has to advance by around 335 tons (+20%) this year versus 2011. This year, higher mine output (+50 tons), less gold buying by central banks (–140 tons) and less jewelry demand (– 138 tons) are the key drivers that call for additional investment demand. Such a demand increase is unlikely to materialize in a world that is seeing better economic activity than initially expected. With the US Fed less likely to engage in more quantitative easing, investors need the right incentive to buy gold. We think this will come with a soft patch in prices during 2Q 2012. Thus, we recommend that gold investors protect their positions against short-term price volatility. Investors should not build up new positions at current levels, nor should they engage in yield-enhancement strategies as the risk of conversion from USD to gold is very high. Lower gold prices, which improve the expected return outlook for the metal, should provide the necessary condition to secure sufficient financial demand, including demand from central banks. What about the long-term outlook? Although we lowered our 12-month gold forecast in recent weeks from USD 2,200/oz to USD 1,820/oz, the message remains unchanged. In the long run, we expect prices to appreciate due to the risk of debt monetization and firm wealth creation in emerging economies. Link to comment Share on other sites More sharing options...
schlog Posted April 10, 2012 Share Posted April 10, 2012 Tungsten Filled 1 kilo Gold Bar Discovered in UK http://silverdoctors.blogspot.co.uk/2012/03/tungsten-filled-1-kilo-gold-bar.html lets get ready to rumble...... Link to comment Share on other sites More sharing options...
flying Posted April 10, 2012 Share Posted April 10, 2012 (edited) Tungsten Filled 1 kilo Gold Bar Discovered in UK http://silverdoctors...o-gold-bar.html lets get ready to rumble...... That is one a strong magnet may have revealed to buyer I *think* ? tungsten usually has cobalt & nickel in it? Not 100% though Edited April 10, 2012 by flying Link to comment Share on other sites More sharing options...
Naam Posted April 10, 2012 Share Posted April 10, 2012 Tungsten Filled 1 kilo Gold Bar Discovered in UK http://silverdoctors...o-gold-bar.html lets get ready to rumble...... That is one a strong magnet may have revealed to buyer I *think* ? tungsten usually has cobalt & nickel in it? Not 100% though Tungsten is neither magnetic nor would a fraudster use Tungsten adulterated with any other stuff. reason: specific weight would go down and the difference to Gold too obvious. Link to comment Share on other sites More sharing options...
flying Posted April 10, 2012 Share Posted April 10, 2012 Tungsten is neither magnetic nor would a fraudster use Tungsten adulterated with any other stuff. reason: specific weight would go down and the difference to Gold too obvious. :jap: I figured you would know Link to comment Share on other sites More sharing options...
edgarfriendly Posted April 11, 2012 Share Posted April 11, 2012 long-term outlook positive Gold • Uptrend since 2008 to be broken in 2Q12 • Insufficient investment demand is likely to trigger a break of the uptrend in gold that has been ongoing since 2008. • A deteriorating technical picture poses risks for a large part of the 460 tons in non-commercial net long futures positions by non-commercial accounts. • Given the high likelihood of a price dip to USD 1,520/oz, we strongly recommend that investors protect their gold long positions during 2Q12. Higher prices require stronger financial demand Investment demand needs to grow to keep the gold price appreciating. We now estimate that financial demand has to advance by around 335 tons (+20%) this year versus 2011. This year, higher mine output (+50 tons), less gold buying by central banks (–140 tons) and less jewelry demand (– 138 tons) are the key drivers that call for additional investment demand. Such a demand increase is unlikely to materialize in a world that is seeing better economic activity than initially expected. With the US Fed less likely to engage in more quantitative easing, investors need the right incentive to buy gold. We think this will come with a soft patch in prices during 2Q 2012. Thus, we recommend that gold investors protect their positions against short-term price volatility. Investors should not build up new positions at current levels, nor should they engage in yield-enhancement strategies as the risk of conversion from USD to gold is very high. Lower gold prices, which improve the expected return outlook for the metal, should provide the necessary condition to secure sufficient financial demand, including demand from central banks. What about the long-term outlook? Although we lowered our 12-month gold forecast in recent weeks from USD 2,200/oz to USD 1,820/oz, the message remains unchanged. In the long run, we expect prices to appreciate due to the risk of debt monetization and firm wealth creation in emerging economies. do you agree with this? since reading this the price has risen from 1643 to 1657.80 Link to comment Share on other sites More sharing options...
Naam Posted April 11, 2012 Share Posted April 11, 2012 do you agree with this? i neither agree nor disagree as i have no freaking idea in which direction the price of gold is heading. and neither have the "anals" of my bank -whom i quoted- an idea. using the unprecise term "in the long run" is proof enough for me. Link to comment Share on other sites More sharing options...
ronz28 Posted April 11, 2012 Share Posted April 11, 2012 (edited) Nondestructive testing of metals is possible, but when tests point to an issue, suspect item is cut open, melted down, etc. in a somewhat destructive test Here is one for gold bars http://www.runtogold...ten-gold-found/ Gamma ray inspection to identify composition of a "gold" bar might also be used. Edited April 11, 2012 by ronz28 Link to comment Share on other sites More sharing options...
metisdead Posted April 11, 2012 Share Posted April 11, 2012 Another trolling session has been removed and the troller given a holiday. Link to comment Share on other sites More sharing options...
waza Posted April 12, 2012 Share Posted April 12, 2012 What did I miss?? Link to comment Share on other sites More sharing options...
midas Posted April 12, 2012 Share Posted April 12, 2012 doesn't this sound like a novel idea? They’ll actually pay you to store your gold http://www.sovereignman.com/expat/theyll-actually-pay-you-to-store-your-gold/ Link to comment Share on other sites More sharing options...
Naam Posted April 12, 2012 Share Posted April 12, 2012 Technically, it’s not permissible now for Vietnamese banks to pay interest on gold deposits anymore, but it still happens in practice.So much for Warren Buffet’s assertion that gold is just a silly cube that doesn’t pay any yield. perhaps ol' Warren does not trust Vietnamese banks? Link to comment Share on other sites More sharing options...
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