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  #341  
Old 15.09.2011, 11:44
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Re: Gold Buying

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Apparently it is common for banks to lend out their gold in return for US dollars.
According to the FT today, so many banks are doing this that the lease rate (interest rate) is now in negative territory!
There's an alphaville article on this: http://ftalphaville.ft.com/blog/2011...datedcontent=1
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  #342  
Old 19.09.2011, 20:16
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Re: Gold Buying

From today's papers "European central banks have become net buyers of gold for the first time in more than two decades"

Ah ha! why? what do they know or suspect?
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  #343  
Old 19.09.2011, 21:44
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From today's papers "European central banks have become net buyers of gold for the first time in more than two decades"

Ah ha! why? what do they know or suspect?
That is a sell sign if ever I saw one, remind me what the price was when most central banks were selling?
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  #344  
Old 19.09.2011, 21:52
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Re: Gold Buying

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That is a sell sign if ever I saw one, remind me what the price was when most central banks were selling?
threepence a kilo?
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  #345  
Old 20.09.2011, 07:00
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Re: Gold Buying

First country to introduce gold buying restrictions...
Austria restricts gold purchase by individuals
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  #346  
Old 20.09.2011, 07:03
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Re: Gold Buying

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That is a sell sign if ever I saw one, remind me what the price was when most central banks were selling?
Are you talking about the famous Brown Bottom?
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  #347  
Old 20.09.2011, 08:32
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Re: Gold Buying

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That is a sell sign if ever I saw one, remind me what the price was when most central banks were selling?
Below $400 and around $270 if you were Gordon
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  #348  
Old 20.09.2011, 08:38
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Re: Gold Buying

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Below $400 and around $270 if you were Gordon
Of course those $ were worth twice as much in CHF terms as they are today. So $800 in todays dollars may well not turn out that bad.
Of course if they had invested in good business's they would have doubled their money again, but governments never manage to do that.
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  #349  
Old 20.09.2011, 08:53
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Re: Gold Buying

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Of course those $ were worth twice as much in CHF terms as they are today. So $800 in todays dollars may well not turn out that bad.
Of course if they had invested in good business's they would have doubled their money again, but governments never manage to do that.
In absolute terms the Swiss Franc has not fared so well as one thinks. It's only when one compares it to $ or £s that it LOOKS good.
This article and its graphics illustrates the reality.....

James Turk: The Swiss National Bank gives up
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  #350  
Old 23.09.2011, 12:45
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Re: Gold Buying

this thread has grown awfully quiet recently, don't ya think?
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  #351  
Old 23.09.2011, 14:03
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Re: Gold Buying

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this thread has grown awfully quiet recently, don't ya think?
We're watching the latest 'take down'.

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  #352  
Old 23.09.2011, 14:05
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Re: Gold Buying

Wouldn't now be a better time to buy?
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  #353  
Old 23.09.2011, 14:15
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Re: Gold Buying

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Wouldn't now be a better time to buy?
Sure, but you need good nerves to catch a falling knife. (besides money that is)
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  #354  
Old 23.09.2011, 15:16
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Re: Gold Buying

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Wouldn't now be a better time to buy?
To buy something with very little value at todays prices, you can dig it out of the ground for $800, why would anybody pay more?
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  #355  
Old 23.09.2011, 15:31
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Re: Gold Buying

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To buy something with very little value at todays prices, you can dig it out of the ground for $800, why would anybody pay more?
Where can I go and dig gold out of the ground for $800 (per ounce I presume)?
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  #356  
Old 23.09.2011, 16:16
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Re: Gold Buying

One view is that people are selling their gold now because share markets are crashing down & they need cash to cover margin calls. Consequently gold will start rising again soon because the fundamentals are unchanged.

As I said that is one view; might not be the correct view
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  #357  
Old 23.09.2011, 16:21
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Re: Gold Buying

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To buy something with very little value at todays prices, you can dig it out of the ground for $800, why would anybody pay more?
You could say the same thing about diamonds, silver, copper, rare earths &&& but they all sell for more than the "out-of-ground" cost.

There is also the question of supply & demand; nearly all the gold that was ever dug up is still around which is a big pile of gold. So increasing the supply by a significant percentage is very difficult i.e. not possible.
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  #358  
Old 23.09.2011, 16:44
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Re: Gold Buying

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Where can I go and dig gold out of the ground for $800 (per ounce I presume)?
Buy shares in any Goldmine, that's there business. If Gold was going to stay above $800 for any length of time then Gold miners share prices would be way higher.
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  #359  
Old 23.09.2011, 16:45
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Re: Gold Buying

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You could say the same thing about diamonds, silver, copper, rare earths &&& but they all sell for more than the "out-of-ground" cost.
.
For much of the last 30 years Gold sold for less than the 'out of ground' cost. It's intrinsic value must way lower than $800, there is more above ground than can ever be used!
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  #360  
Old 23.09.2011, 20:58
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Re: Gold Buying

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One view is that people are selling their gold now because share markets are crashing down & they need cash to cover margin calls. Consequently gold will start rising again soon because the fundamentals are unchanged.

As I said that is one view; might not be the correct view
Another view might be that the big boys are shacking the branches to see if they can get any fruit that is not securely held to drop down which they can quickly collect up and then let the price go back up again. I am give to understand that in the trade this is generally called 'shacking down'. The sods wont get any on mine though...
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