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  #981  
Old 13.02.2015, 20:18
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Re: Gold Buying

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The question begs to be asked... Why buy Gold bars?

If the economic climate changes enough that Gold becomes extremely valuable I would not be surprised if what happened in the US in the 1930s (not sure about the date) happens again. I.E the federal reserve issues a law or whatever that all gold is to be returned to the reserve.

If it was me I would be buying crappy gold rings etc and melting it to create my own bars and nobody will know you have it. That is the best way to strore gold long term.
Jewelry is extremely overpriced. The raw value of the materials is only a very small fraction of the price of the finished product.
Some as cosmetics. Perceived value is much higher than actual value.

If people think buying gold coins and bars is stupid, this has to stupid^2 or stupid^3...
You'd rather be better off blowing the money on holidays, cars, fancy restaurants and pretty girls.
That way, there would at least be some return on the money.


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But what do I know.
Oh well...
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  #982  
Old 16.02.2015, 15:48
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Re: Gold Buying

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Looks like USD cash is King v Gold over the last year.
Your graph might have you convinced, but...

I first turned to gold as a store of value in 2000. Today, the following five items all cost more in dollars and less in gold. Looking at the weakest example, it requires half as much gold to buy a dozen eggs today (.0016 oz.) as it did in 2000 (.0034 oz.), while the price in dollars has effectively doubled (not that I care — I barely ever use the dollar as a medium of exchange, let alone as a store of value).

Your pretty graph and nay-saying notwithstanding, the numbers seem to affirm that I made the right decision 15 years ago.
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  #983  
Old 16.02.2015, 16:00
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Re: Gold Buying

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Your graph might have you convinced, but...

I first turned to gold as a store of value in 2000. Today, the following five items all cost more in dollars and less in gold. Looking at the weakest example, it requires half as much gold to buy a dozen eggs today (.0016 oz.) as it did in 2000 (.0034 oz.), while the price in dollars has effectively doubled (not that I care — I barely ever use the dollar as a medium of exchange, let alone as a store of value).

Your pretty graph and nay-saying notwithstanding, the numbers seem to affirm that I made the right decision 15 years ago.
Gold has done well since 2000:

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  #984  
Old 16.02.2015, 17:06
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Re: Gold Buying

Interesting that gold is being used to store value to exchange for housing in the future.

Probably buying property directly will then be less volatile, but I remember the gold vs houses discussions:



https://www.bullionvault.com/gold-ne...ing_042920094/
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  #985  
Old 16.02.2015, 17:28
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Re: Gold Buying

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Jewelry is extremely overpriced. The raw value of the materials is only a very small fraction of the price of the finished product.
Some as cosmetics. Perceived value is much higher than actual value.

If people think buying gold coins and bars is stupid, this has to stupid^2 or stupid^3...
You'd rather be better off blowing the money on holidays, cars, fancy restaurants and pretty girls.
That way, there would at least be some return on the money.

Oh well...

I think you can walk through customs with more that 10K worth of gold in jewelry.

Use to be. Though I'm not totally sure anymore.
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  #986  
Old 24.02.2015, 13:45
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Re: Gold Buying

"Big Banks Face Scrutiny Over Pricing of Metals"
U.S. Justice Department investigates price-setting process for gold, silver, platinum and palladium

More details here.

Investigation is at a very early stage - Under scrutiny are HSBC, Bank of Nova Scotia , Barclays PLC, Credit Suisse Group AG , Deutsche Bank AG , Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Société Générale SA, Standard Bank Group Ltd. and UBS AG , according to one of the people close to the investigation.
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  #987  
Old 24.02.2015, 14:19
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Re: Gold Buying

There was an article in the Lex clumn today: http://www.ft.com/cms/s/3/50aac49e-b...#axzz3SfUB6GIe
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  #988  
Old 24.02.2015, 18:00
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Re: Gold Buying

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There was an article in the Lex clumn today: http://www.ft.com/cms/s/3/50aac49e-b...#axzz3SfUB6GIe
Non-members can't read it (though the [typical] MSM title says enough).
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  #989  
Old 25.02.2015, 19:59
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Re: Gold Buying

Who was question that gold is the best wealth preservation choice?

http://www.zerohedge.com/news/2015-0...y-crisis-redux

That's why you need gold. Not for the booming years of the last 2 decades, but for the next 20.
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  #990  
Old 25.02.2015, 23:37
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Re: Gold Buying

Interesting article here:
http://blog.derbund.ch/nevermindthem...nd-demokratie/

(in German)
describing the similarities between what happened in Germany in what is commonly known as the "end-stages of the Weimar Republic" and today.

It's a very narrow ledge.
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  #991  
Old 06.04.2015, 12:56
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Re: Gold Buying

Gold price proving very resilient versus the dire forecasts in the last two years, now back over $1200/oz.
Soon there will be the Asia festivals that are a price driver.
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  #992  
Old 30.04.2015, 02:02
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Re: Gold Buying

Venezuela has done some sort of complex deal with CITI by "swapping" gold worth $1.7Bn for $1Bn in cash (US$).
I assume they did not sell their gold for half price so can anyone explain in simple terms what they did do?
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  #993  
Old 30.04.2015, 07:05
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Re: Gold Buying

details of the transaction, as always, will remain a secret. partly because Venezuela would not want the world to know how desperate it is. more because Citi would not want to advertise how it is screwing Venezuela.

but in simple terms, it appears that V is borrowing 1Bn, and providing some 1.7Bn worth of gold as collateral.
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  #994  
Old 18.07.2015, 21:34
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Re: Gold Buying

China's gold reserves revealed:
http://www.bloomberg.com/news/articl...ure-since-2009

Not as much as some speculated - but still up 60% in six years.
Now I can see where our (German) gold (gullibly assumed to be in Kentucky and New York) went...
;-)
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  #995  
Old 20.07.2015, 22:14
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Re: Gold Buying

Just to bump this thread.
Today, Gold was bellow USD 1100.

PS: Wake me up when Gold has is bellow 30k in CHF/kg
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  #996  
Old 24.08.2015, 19:39
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Re: Gold Buying

Another thread-bump / update…

Gold's 30-day history as of Monday 24 August 2015:


Meanwhile: Black Monday: Wall Street plummets 1000 points at opening bell

Could prove to be quite temporary, but at the very least it suggests that somebody's dead cat has far too much bounce for the current market.
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  #997  
Old 25.08.2015, 19:52
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Re: Gold Buying

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Another thread-bump / update…

Gold's 30-day history as of Monday 24 August 2015:


Meanwhile: Black Monday: Wall Street plummets 1000 points at opening bell

Could prove to be quite temporary, but at the very least it suggests that somebody's dead cat has far too much bounce for the current market.
I know your a gold perma bull, however it's lower now than 5 years ago or 1 year ago.............
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  #998  
Old 25.08.2015, 20:16
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Re: Gold Buying

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I know your a gold perma bull, however it's lower now than 5 years ago or 1 year ago.............
Keep telling yourself whatever it takes (that's all that matters)...
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  #999  
Old 25.08.2015, 20:33
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Re: Gold Buying

I disagree.
At the moment the entire financial edifice of our interconnected world is cracking and breaking.
This means that all assets that by essence rely on a counterparty, carry an inherent risk of default by said counterparty.
Laws passed recently in many European countries event put a question mark over the counterparty risk on regular vanilla bank accounts.
Funds in these accounts are treated now as unsecured loans to the bank. So if said bank goes bust, your money is also kaput.

Physical assets, with natural no counterparty risk thus enjoy a growing advantage. Re, metals, think carefully about storage.

Some facts I learnt about precious metals investing in Switzerland.
-Silver purchases incure 8% MwSt, while gold does not.
-Spot prices + a production premium are the basis for physical metal pricing.
Often this is adjsuted at the minute of making the purchase.
-Expect about a 2% spread at least between buy and sell prices.

Gieger is a good place for physical purchases.

XE is a good place online for real time currency and precious metals exchange rates. Also has SDR and BTC crosses!

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think through carefully before you acquire metal. most people are better served by acquiring gold funds, or trade online, or even buy gold futures.

there are few good reasons for buying physical gold if you are not a goldsmith, which i suspect you are not...

or a central banker, which I am certain you are not
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  #1000  
Old 26.08.2015, 00:43
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Re: Gold Buying

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I disagree.
At the moment the entire financial edifice of our interconnected world is cracking and breaking.
This means that all assets that by essence rely on a counterparty, carry an inherent risk of default by said counterparty.
Laws passed recently in many European countries event put a question mark over the counterparty risk on regular vanilla bank accounts.
Funds in these accounts are treated now as unsecured loans to the bank. So if said bank goes bust, your money is also kaput.

Physical assets, with natural no counterparty risk thus enjoy a growing advantage. Re, metals, think carefully about storage.

Some facts I learnt about precious metals investing in Switzerland.
-Silver purchases incure 8% MwSt, while gold does not.
-Spot prices + a production premium are the basis for physical metal pricing.
Often this is adjsuted at the minute of making the purchase.
-Expect about a 2% spread at least between buy and sell prices.

Gieger is a good place for physical purchases.

XE is a good place online for real time currency and precious metals exchange rates. Also has SDR and BTC crosses!
Counter party risk has always existed, covered for 100k euro in the EU, not that difficult to protect yourself from, just buy companies quoted on the stock market if you can't find enough banks to hold your stake
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