Where Is Gold Going In This Market

[yoshiwara]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Gold is priced in Baht in Thailand. Gold is priced in many currencies depending on where you buy it. You try buying gold here in USD at the gold shops and see how that goes for you. That chart doesn't lie. You can twist it however you want. Gold has reached a new all time high against the EURO. If I bought XAUEUR anytime in the past and sold it at today's peak then I made money. You think that chart is just some sort of trick to show a high gold price that doesn't exist? I bet that in europe, the gold stores sell in EURO. Or are you going to argue that as well. Pathetic. FULL STOP.

Gold (and oil) are priced in dollars and then translated into other currencies. This is the reference point.

eg If the price of gold against the dollar does not move at all but the Euro drops 10% against the dollar, the extra price of gold for someone living in Euroland is caused by the rise of the dollar, not by any movement in gold. For you the problem is understanding graphs, which you appear to have difficulty with.

Edited September 21, 2012 by yoshiwara

[Jayman]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Gold is priced in Baht in Thailand. Gold is priced in many currencies depending on where you buy it. You try buying gold here in USD at the gold shops and see how that goes for you. That chart doesn't lie. You can twist it however you want. Gold has reached a new all time high against the EURO. If I bought XAUEUR anytime in the past and sold it at today's peak then I made money. You think that chart is just some sort of trick to show a high gold price that doesn't exist? I bet that in europe, the gold stores sell in EURO. Or are you going to argue that as well. Pathetic. FULL STOP.

Gold (and oil) are priced in dollars and then translated into other currencies. This is the reference point.

eg If the price of gold against the dollar does not move at all but the Euro drops 10% against the dollar, the extra price of gold for someone living in Euroland is caused by the rise of the dollar, not by any movement in gold. For you the problem is understanding graphs, which you appear to have difficulty with.

I guess you just realized why many here are being gold. To hedge against the debasement of currency.

I have no problems understanding graphs. It's actually quite easy to see that today made a new ALL TIME high in gold priced in euros. That Euros have lost a lot of their value is the very reason why many bought gold. Do you actually think that the EURO is going to keep getting stronger or weaker? What currency do you get paid in? What currency are your savings accounts denominated in? You kept saying how lame and worthless gold is but it seems today it's worth more in EURO's than ever before in history.

Also, XAUEUR is trade-able at many brokers. Facts are facts and profits are profits. You can keep trying to twist it all however you want but I doubt you will convince many here that purchased gold with euros that they couldn't sell it today for more euros than they purchased it for.

Are you going to say.. well euros today are worth less than before and won't buy you as much in assets? Voila! Welcome to the reason why many choose to buy and own gold.

[Naam]

Even if you are one of those traders do you know I couldn't be less interested and I don't think there would be that many other people on this forum that would be interested within that context either.

As the world and stock market rejoices at QE3 a in USA s if just one more time will make all the difference in the world the Japanese experience exposes just to what extent this whole exercise of quantitative easing is a complete farce and is setting up the next generations for an unimaginable debt burden just so people like you can continue to play the market.

if that is the case (nobody interested) why did you post some non-interesting comment in this forum and now add two not only irrelevant but wrong comments?

some people moan in public forums, others act and try to protect their holdings and income to the best of their ability no matter how disgusting you may find that

[OriginalPoster]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

[Jayman]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

Glad to see that someone understand

[Naam]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

there is no doubt that Gold is constant and its the currencies that fluctuate. the impression you get when driving a car is that you are moving, but that is not the case! actually it's the road that is moving and you in your car remain at a fixed point.

then there is the proverbial chicken that crosses the road... or is the road crossing under the chicken?

[yoshiwara]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

Glad to see that someone understand

Actually that just makes two (and counting) that don't understand. I have no doubt you will soon have enough to put together a football team.

[mccw]

Currencies will steadily, or maybe quite dramatically, devalue against a basket of commodities and food stuffs I think. Simply put there isn't a whole lot more physical oil or gold appearing in the world but governments are actively trying to weaken currencies relative to one another.

Food stuffs will leap in price over next few months and years I think as the extreme weather continues and feed for animals becomes more expensive.

Does anyone know how I can bet with leverage on a rise in the price of pork? An etf maybe?

Cheers

[cloudhopper]

Currencies will steadily, or maybe quite dramatically, devalue against a basket of commodities and food stuffs I think. Simply put there isn't a whole lot more physical oil or gold appearing in the world but governments are actively trying to weaken currencies relative to one another.

Food stuffs will leap in price over next few months and years I think as the extreme weather continues and feed for animals becomes more expensive.

Does anyone know how I can bet with leverage on a rise in the price of pork? An etf maybe?

Cheers

Don't forget about the demand side mccw. How will all these high prices actually be paid by people who are in debt up to their eyeballs, the unemployed and those facing it, and those stuck in crap low-paying jobs, all those on fixed pensions, relying on interest income and transfer payments of all types etc. Zero or negative interest rates can only survive in an environment of deflation.

Did you say ETF?

[yoshiwara]

Something to really freak out the gold bugs!

You might be poorer than you think.... http://tinyurl.com/bwjm6zp

[mania]

Something to really freak out the gold bugs!

You might be poorer than you think.... http://tinyurl.com/bwjm6zp

No more than an ignorant person who would accept conterfiet currency

[yoshiwara]

Something to really freak out the gold bugs!

You might be poorer than you think.... http://tinyurl.com/bwjm6zp

No more than an ignorant person who would accept conterfiet currency

Read and watch the article. He is a trader.

BTW, isn't conterfiet a counterfeit spelling?

[Naam]

Something to really freak out the gold bugs!

You might be poorer than you think.... http://tinyurl.com/bwjm6zp

No more than an ignorant person who would accept conterfiet currency

if you withdraw a substantial amount of cash from your bank account will you check each and every note whether it's fake or not? and if you don't, are you an ignorant person?

[binjalin]

If what you are doing is working for you.. have at it. Just curious, how many Kilo bags are you buying and selling at a time?

Also, please clarify, are you doing this in Thailand? Buying silver pellets and letting the store hold them for you? What is your guarantee they are what they claim they are? Are they backed or certified by any government or mint?

I can tell you don't live in Thailand a friend of mine had some assayed in BKK and they are perfectly legit - big company with 3 shops in chiang mai alone - I had 40 kilos

[mania]

if you withdraw a substantial amount of cash from your bank account will you check each and every note whether it's fake or not? and if you don't, are you an ignorant person?

I cannot of course speak for others.

But when I buy bullion I buy from a reputable source. It is all one can do.

As for checking bills at a bank I would assume they have already done so too.

Edited September 22, 2012 by mania

[mania]

Read and watch the article. He is a trader.

BTW, isn't conterfiet a counterfeit spelling?

Yes sh!t happens same as in counterfeit

Sorry about the spelling hope it did not confuse you.

[mania]

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

In a sense that is true if we say the purchasing power of gold is more constant than currencies

I know folks hate it when someone compares prices of a gallon of gas in gold or other things but it is hard to

ignore the fact that it has been very stable in comparison to currencies.

Bread is a interesting one too.

Because for over a hundred years you could always buy between 300 & 388 loaves of bread for one ounce of gold.

Can any currency make that claim?

But as always there will be folks gold does not sit well with.

Fortunately there is the option for folks who do not like gold to not purchase it.

That will not stop them from negatively chiming in constantly but everyone needs a hobby I guess.

[yoshiwara]

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

In a sense that is true if we say the purchasing power of gold is more constant than currencies

I know folks hate it when someone compares prices of a gallon of gas in gold or other things but it is hard to

ignore the fact that it has been very stable in comparison to currencies.

Bread is a interesting one too.

Because for over a hundred years you could always buy between 300 & 388 loaves of bread for one ounce of gold.

Can any currency make that claim?

But as always there will be folks gold does not sit well with.

Fortunately there is the option for folks who do not like gold to not purchase it.

That will not stop them from negatively chiming in constantly but everyone needs a hobby I guess.

Totally wrong of course, but then gold bugs live in their own little bubble.

Bullion hasn’t kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In 2009 dollars, that would have been $2,287 and according to the U.S. Labor Department’s inflation calculator for that year. Not to mention the yo-yo ride the last 12 months.

Edited September 22, 2012 by yoshiwara

[OriginalPoster]

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

In a sense that is true if we say the purchasing power of gold is more constant than currencies

I know folks hate it when someone compares prices of a gallon of gas in gold or other things but it is hard to

ignore the fact that it has been very stable in comparison to currencies.

Bread is a interesting one too.

Because for over a hundred years you could always buy between 300 & 388 loaves of bread for one ounce of gold.

Can any currency make that claim?

But as always there will be folks gold does not sit well with.

Fortunately there is the option for folks who do not like gold to not purchase it.

That will not stop them from negatively chiming in constantly but everyone needs a hobby I guess.

Totally wrong of course, but then gold bugs live in their own little bubble.

Bullion hasn’t kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In 2009 dollars, that would have been $2,287 and according to the U.S. Labor Department’s inflation calculator for that year. Not to mention the yo-yo ride the last 12 months.

Why compare against the peak of a bubble? The NASDAQ peaked at 5,048.62. Since it's now only 60% of that, does it follow that no one should ever invest in tech again?

Edited September 22, 2012 by OriginalPoster

[mania]

Totally wrong of course, but then gold bugs live in their own little bubble.

Bullion hasn’t kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In 2009 dollars, that would have been $2,287 and according to the U.S. Labor Department’s inflation calculator for that year. Not to mention the yo-yo ride the last 12 months.

The Old Testament states that in 600 BC, during the rein of King Nebuchadnezzar’s, a loaf of bread was worth 350 loafs of bread to one ounce of gold.

In 1997-98 gold was $480 per ounce and bread cost $1.60 or 300 loafs of bread per ounce

In 2007 -08 gold was $800 per ounce and bread cost $2.50 or 320 loafs of bread per ounce

In 2010 gold is $1360 per ounce and bread cost $3.50 or 388 loafs per ounce of gold

But put gold aside for a moment & let me ask you,

How crazy is it for a person who obviously has a problem with gold to so often post in a gold thread?

I am just curious what in the world you get out of it?

I could really care less if folks want to invest in any stock market, bond market, commodity market etc.

But personally I do not.

Yet the thought never occurred to me to log onto a site like Motley Fool & start telling all the buy & hold folks they are nuts.

Just curious & I understand as I said everyone needs a hobby but I do find it very strange behavior for an adult.

Edited September 22, 2012 by mania

[churchill]

The World's Major Currencies Vs. Gold 2000 - 2012

http://www.ftense.com/2012/01/gold-vs-major-currencies-2000-2012.html

[Naam]

The World's Major Currencies Vs. Gold 2000 - 2012

http://www.ftense.co...-2000-2012.html

the usual rubbish to BS ignorants by not taking into account that "currencies" are not kept rotting under the mattress but are made to work hard 24/7 earning more "currency".

[Naam]

The Old Testament states that in 600 BC, during the rein of King Nebuchadnezzar’s, a loaf of bread was worth 350 loafs of bread to one ounce of gold.

a typical ridiculous goldbug argument. did the old testament specify what kind of loaf? pita bread? baguette? rye or wheat bread? pumpernickel? weight? water content?

[yoshiwara]

Totally wrong of course, but then gold bugs live in their own little bubble.

Bullion hasn’t kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In 2009 dollars, that would have been $2,287 and according to the U.S. Labor Department’s inflation calculator for that year. Not to mention the yo-yo ride the last 12 months.

The Old Testament states that in 600 BC, during the rein of King Nebuchadnezzar’s, a loaf of bread was worth 350 loafs of bread to one ounce of gold.

In 1997-98 gold was $480 per ounce and bread cost $1.60 or 300 loafs of bread per ounce

In 2007 -08 gold was $800 per ounce and bread cost $2.50 or 320 loafs of bread per ounce

In 2010 gold is $1360 per ounce and bread cost $3.50 or 388 loafs per ounce of gold

But put gold aside for a moment & let me ask you,

How crazy is it for a person who obviously has a problem with gold to so often post in a gold thread?

I am just curious what in the world you get out of it?

I could really care less if folks want to invest in any stock market, bond market, commodity market etc.

But personally I do not.

Yet the thought never occurred to me to log onto a site like Motley Fool & start telling all the buy & hold folks they are nuts.

Just curious & I understand as I said everyone needs a hobby but I do find it very strange behavior for an adult.

Why let BS stand uncontested?

[Naam]

Why let BS stand uncontested?

bingo! especially when there are people who seek unbiased information.

[yoshiwara]

Of maybe it's gold that is constant in value and it's the currencies that are going up or down.

In a sense that is true if we say the purchasing power of gold is more constant than currencies

I know folks hate it when someone compares prices of a gallon of gas in gold or other things but it is hard to

ignore the fact that it has been very stable in comparison to currencies.

Bread is a interesting one too.

Because for over a hundred years you could always buy between 300 & 388 loaves of bread for one ounce of gold.

Can any currency make that claim?

But as always there will be folks gold does not sit well with.

Fortunately there is the option for folks who do not like gold to not purchase it.

That will not stop them from negatively chiming in constantly but everyone needs a hobby I guess.

Totally wrong of course, but then gold bugs live in their own little bubble.

Bullion hasn’t kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In 2009 dollars, that would have been $2,287 and according to the U.S. Labor Department’s inflation calculator for that year. Not to mention the yo-yo ride the last 12 months.

Why compare against the peak of a bubble? The NASDAQ peaked at 5,048.62. Since it's now only 60% of that, does it follow that no one should ever invest in tech again?

No it doesn't but that isn't the point.

The point to be contested is that gold is permanently stable, a place of safety in a volatile world.

It isn't. It wasn't and it won't be.

Trading in gold or another asset is fine with me.

What I object to is the selectivity of the gold bugs who want to convince the world of something that isn't.

Carry on (and I am sure you will. They all do).

[mania]

Why let BS stand uncontested?

Well if your that bored have at it.

As I said everyone needs a hobby.

While your at it perhaps you could post a comment on the site with the article you linked.

After all anyone with even the most basic understanding of metallurgy

would know what they claim is not possible.

Hollow out? Hilarious

They hollowed out that bar leaving that thin shell shown in the pictures with stamps & numbers

intact then filled with tungsten & sealed it all up

What makes it so devious is a real gold bar is purchased with the serial numbers and papers,

then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up.

That is a sophisticated operation.

Possibly someone coated a Tungsten bar & re-stamped it.

But hollow out & yet leave that thin shell intact?

go get em tiger, Don't let BS stand your work is not complete.

Edited September 22, 2012 by mania

[yoshiwara]

Currencies will steadily, or maybe quite dramatically, devalue against a basket of commodities and food stuffs I think. Simply put there isn't a whole lot more physical oil or gold appearing in the world but governments are actively trying to weaken currencies relative to one another.

Food stuffs will leap in price over next few months and years I think as the extreme weather continues and feed for animals becomes more expensive.

Does anyone know how I can bet with leverage on a rise in the price of pork? An etf maybe?

Cheers

Sounds as if you are looking to trade on CME exchange figures http://quotes.ino.com/exchanges/exchange.html?e=CME

[churchill]

From earlier this year ..

Salted Gold or a Fishy Tale..?

http://screwtapefile...fishy-tale.html

and here .. http://www.perthmintbullion.com/Blog/Blog/12-03-26/Fake_Bars_-_The_Facts.aspx

Edited September 22, 2012 by churchill

[Naam]

Why let BS stand uncontested?

Well if your that bored have at it.

As I said everyone needs a hobby.

While your at it perhaps you could post a comment on the site with the article you linked.

After all anyone with even the most basic understanding of metallurgy

would know what they claim is not possible.

Hollow out? Hilarious

They hollowed out that bar leaving that thin shell shown in the pictures with stamps & numbers

intact then filled with tungsten & sealed it all up

What makes it so devious is a real gold bar is purchased with the serial numbers and papers,

then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up.

That is a sophisticated operation.

Possibly someone coated a Tungsten bar & re-stamped it.

But hollow out & yet leave that thin shell intact?

go get em tiger, Don't let BS stand your work is not complete.

you are of course right. "hollowing out and filling with Tungsten" as decribed in the article is nonsense. heavy gold plating of a "minted" Tungsten bar must be what was done.