Thread: Gold Buying
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Old 13.10.2010, 20:21
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Re: Gold Buying

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if you would not buy gold here - why are you holding it at these prices?

I did mean exchange contracts, for example, LME copper:

http://www.lme.com/copper.asp

Note forward prices are lower than spot. So you actually get 'paid' to store it if spot prices stay constant.

However, if you think the financial system will not honour financial contracts like LME copper (which is physical delivery via warrant) then you best sell your gold and buy guns.
But in post #135 on the previous page you said "note I said (useful) 'things' rather than (financial) assets". It appears that you did mean financial assets.

Gold isn't a buy for me personally, it's a hold. If it doubles again, it'll probably be a sell.

Your last sentence doesn't make a great deal of sense to me. One of the properties of (physical) gold is default & catastrophe insurance. That's why central bankers own hundreds of tonnes of the stuff. There's plenty of guns in switzerland anyway.
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