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  #701  
Old 04.01.2014, 20:28
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Re: Gold Buying

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It's not a store of wealth at all as anyone who bought in 1980 or in the last 3 1/2 years has found out. It's value is based on what a greater or lessor fool will pay nothing else.
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Time will tell.
Maybe traditional Asian Indian people, who preferred gold over any other means of payment and stashed it at home rather than kept it in banks vaults, knew something that contemporary economists would ignore or fail to notice

But moneys of the world are just sheer paper printed in lots which can either easily inflate or burn in fire. Gold on the other hand is a precious metal that doesn't melt easily (needs higher temp), holds weight and value.

Therefore diamonds, gold, platinum is what Mother Earth gave us and will preserve value of. No matter what rare earth metals and stones will always be valuable.
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Last edited by jacek; 04.01.2014 at 20:59.
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  #702  
Old 04.01.2014, 20:52
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Re: Gold Buying

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How long are you talking, 5 years, 25 years or 50 years?...
How can I be expected to give a specific time frame? I have no control over the timing, tricks or repertoire of the central banks and their close friends.

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...And from what buying price?
What will 'buying price' matter after fiat currencies worldwide have collapsed en masse upon the very fraud which they embody? What does 'buying price' mean, when one has no access to the 'wealth' credited to one's one-time [fiat currency-based bank] account?
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  #703  
Old 04.01.2014, 20:58
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Re: Gold Buying

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How can I be expected to give a specific time frame? I have no control over the timing, tricks or repertoire of the central banks and their close friends.


What will 'buying price' matter after fiat currencies worldwide have collapsed en masse upon the very fraud which they embody? What does 'buying price' mean, when one has no access to the 'wealth' credited to one's one-time [fiat currency-based bank] account?
You said time would tell, so some concept of when you might be proved worn or right would be useful.

I think you will find the $ will strengthen rather than collapse
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  #704  
Old 05.01.2014, 06:47
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Re: Gold Buying

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You said time would tell, so some concept of when you might be proved worn or right would be useful...
Like I said, I can't say when — but the monetary policies practiced consistently by western central banks (especially that of the US) for the past many decades have always ended the same way historically. They can manipulate and delay the inevitable, but they never escape it. I can't be expected to predict with any precision when the dam will break, but based on the historical record I have no reason to doubt that it eventually will.

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...I think you will find the $ will strengthen rather than collapse
I see no factual, historical or logical basis for arriving at such a conclusion, and you haven't presented any. But — again — time will tell who is right.
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  #705  
Old 05.01.2014, 13:35
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Re: Gold Buying

Where me gold's at

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  #706  
Old 06.01.2014, 22:16
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Re: Gold Buying

Gold trading halted today after sharp drop to 1215/oz, then it recovered. Some trader from CNN is stating this is the beginning on the turn to new lows, and expects 1000 as a practical low in the near future.


Any thoughts? Is it time to buy in so I can lose 25% or more of my investment?
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  #707  
Old 06.01.2014, 22:24
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Re: Gold Buying

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Gold trading halted today after sharp drop to 1215/oz, then it recovered. Some trader from CNN is stating this is the beginning on the turn to new lows, and expects 1000 as a practical low in the near future.


Any thoughts? Is it time to buy in so I can lose 25% or more of my investment?

About "Some trader from CNN is stating this is the beginning on the turn to new lows, and expects 1000 as a practical low in the near future."


Reminds me of the trader some 10 or 12 years ago who forecast Swisscom shares would rise to 1,000 but they went in the opposite direction.
I think the moral is that people who forecast a future share or commodity value plan to profit in some way from their forecast - there is no such thing as a free lunch.


I have no clue if gold value will go up or down but I also take any value forecasts with a large pinch of salt.
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  #708  
Old 06.01.2014, 22:30
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Re: Gold Buying

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About "Some trader from CNN is stating this is the beginning on the turn to new lows, and expects 1000 as a practical low in the near future."


Reminds me of the trader some 10 or 12 years ago who forecast Swisscom shares would rise to 1,000 but they went in the opposite direction.
I think the moral is that people who forecast a future share or commodity value plan to profit in some way from their forecast - there is no such thing as a free lunch.


I have no clue if gold value will go up or down but I also take any value forecasts with a large pinch of salt.
I really would not be surprised to see 600, I still would not buy at that level....
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  #709  
Old 06.01.2014, 22:32
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Re: Gold Buying

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About "Some trader from CNN is stating this is the beginning on the turn to new lows, and expects 1000 as a practical low in the near future."


Reminds me of the trader some 10 or 12 years ago who forecast Swisscom shares would rise to 1,000 but they went in the opposite direction.
I think the moral is that people who forecast a future share or commodity value plan to profit in some way from their forecast - there is no such thing as a free lunch.


I have no clue if gold value will go up or down but I also take any value forecasts with a large pinch of salt.

I don't really put stock into analysts to be honest. Just trying to provoke a conversation about the price drop. I remember when this guy, I can't remember his name but he was very often on CNBC making forecasts about gold, and he at one point had said it could go up to 5000 before the end of, like 2 years ago. Another analyst who thought it would go down, was so upset with him trying to stoke the paranoia of "you better get in before it is too late", he almost started to cry with emotion.


It is a shame when people throw fear of the unknown into commodities trading, but then again, it does seem that has been the principle driver of the markets in both directions for the last several years.
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  #710  
Old 06.01.2014, 22:33
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Re: Gold Buying

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I really would not be surprised to see 600, I still would not buy at that level....
Well what is gold being used for at this point? It seems that a security play, for the next several years is off the table.
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  #711  
Old 06.01.2014, 22:36
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Re: Gold Buying

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Well what is gold being used for at this point? It seems that a security play, for the next several years is off the table.
A little is used in industry, however more is mined every year, so all things being equal it should fall in value year after year.
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  #712  
Old 06.01.2014, 22:40
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Re: Gold Buying

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A little is used in industry, however more is mined every year, so all things being equal it should fall in value year after year.
In the last 3 days, I have seen 5 different places set up in hotels, in the Zurich area, still doing cash for gold. What is the logic in this unless they are offering nothing?


And even still, why sell gold that people enjoy to wear as jewelry or have held this far for nothing?
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  #713  
Old 06.01.2014, 22:41
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Re: Gold Buying

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Well what is gold being used for at this point? It seems that a security play, for the next several years is off the table.


It used to be, in my belief, that shares & commodities rose or fell depending on changes in the market that were well understood and could be evaluated.


Now, it seems to me, that prices change on a very emotional basis - there is a sort of herd instinct that drives changes. Probably there are very large players in the background that drive these changes to create profits for themselves - you just have to look at the LIBOR investigation to understand that changes are not driven by market forces but people lining their pockets; small players like us have no chance to forecast what will happen.
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  #714  
Old 06.01.2014, 22:46
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Re: Gold Buying

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It used to be, in my belief, that shares & commodities rose or fell depending on changes in the market that were well understood and could be evaluated.


Now, it seems to me, that prices change on a very emotional basis - there is a sort of herd instinct that drives changes. Probably there are very large players in the background that drive these changes to create profits for themselves - you just have to look at the LIBOR investigation to understand that changes are not driven by market forces but people lining their pockets; small players like us have no chance to forecast what will happen.
All people buy assets hoping to make a profit, however for every buyer there is a seller. The 'clever money' read stupid follows the crowd and always looses. There is always a risk the market is large & real.
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  #715  
Old 06.01.2014, 23:18
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Re: Gold Buying

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All people buy assets hoping to make a profit, however for every buyer there is a seller. The 'clever money' read stupid follows the crowd and always looses. There is always a risk the market is large & real.

Gold rose 1% today......
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  #716  
Old 06.01.2014, 23:27
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Re: Gold Buying

http://www.tagesanzeiger.ch/schweiz/...story/18096514

"We've got no plans to sell gold, nor do we have plans to buy any more of it. We've got these 1040 (metric) tons and we'll leave at at that for the moment"
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  #717  
Old 07.01.2014, 00:36
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Re: Gold Buying

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I really would not be surprised to see 600, I still would not buy at that level....
at what level WOULD you buy gold?
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  #718  
Old 07.01.2014, 06:00
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Re: Gold Buying

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I really would not be surprised to see 600, I still would not buy at that level....
At what level would you buy gold?
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  #719  
Old 07.01.2014, 06:19
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Re: Gold Buying

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http://www.tagesanzeiger.ch/schweiz/...story/18096514

"We've got no plans to sell gold, nor do we have plans to buy any more of it. We've got these 1040 (metric) tons and we'll leave at at that for the moment"
The SNB sold off 1300 tonnes of the nation's gold (if memory serves around 2000 to 2005 or so just after Gordon's "Brown Bottom" ).

IF the SNB had NOT sold off that gold when they did but sold it TODAY they would have enough cash in the till to pay the whole cost of the NEAT (Trans-alpine railway tunnel) and have a few francs left over to buy a round of coffees.

So don't think the Swiss's SNB are any brighter than Gordon Brown was, who has been laughed at for nearly two decades now.
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  #720  
Old 07.01.2014, 06:54
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Re: Gold Buying

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All people buy assets hoping to make a profit...
Wrong. You don't appear to understand the difference between storing wealth and profit seeking. Lumping them both into a single category (as you've done more than once in this thread) is an act of ignorance.

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...The 'clever money' read stupid follows the crowd and always looses...
There's a huge 'crowd' avoiding and disparaging metals these days. It's pretty obvious in this thread who's following it and who's not.
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