Ah yeah Apocalypto, you sure told us!
Wanna buy physical silver right now? Spot price ~10USD/troy oz, try and find me any .999 bar less than 40AUD!
Wanna buy physical gold right now? Used to be able to go to any coin store in Wynard and pay standard price of $250 for a sov. Go walk down there now and we are talking $400-450 a sov! Same on eBay RIGHT NOW.
If you were curious, $450 a sov at ~7.7g at 22kt = $2000+ AUD per troy ounce for physical gold!
What I fail to understand is why gold-bugs are still proclaiming this a victory? Granted, in terms of AUD gold has been a good performer; but gold on it's own has been a terrible performer, and for many months now.
Nyden said:... surely gold bugs understand that it's the USDs strength that's been helping their positions - and not that of Golds? I just don't get it
cuttlefish said:But all digs aside I'd have to acknoweldge being suprised by the USD strength this year.
(which is to some extent the bigger driver for the AUD gold price rise, and yes the irony is that a direct USD investment would actually have been the best way to go this year).
What I fail to understand is why gold-bugs are still proclaiming this a victory? Granted, in terms of AUD gold has been a good performer; but gold on it's own has been a terrible performer, and for many months now.
... surely gold bugs understand that it's the USDs strength that's been helping their positions - and not that of Golds? I just don't get it
Ah yeah Apocalypto, you sure told us!
Wanna buy physical silver right now? Spot price ~10USD/troy oz, try and find me any .999 bar less than 40AUD!
1 month ago i picked up 10 1kg silver bars (pure .9999) for $3500 (35c per gram). The market price at the time was around 55c p/g (once you include the spread)
Thats the benefits you have when dealing in the 2nd hand market.
Today was interesting, market price for gold is around 1130p/o (including the spread at the time) which is around $36.30p/g, picked up about 300 grams for $34.51 of fine gold.
As they say when investing you money is made when you buy not when you sell.
Gold 5K by the end of next week!
Yeh, good stab at it but probably some some more (unwinding) lows yet. Maybe close in 2 years prof.
And Yaaaaawwwwnnn, the long term holders have had few problems in this.
The frustrations speak volumes.
Yeh, good stab at it but probably some some more (unwinding) lows yet. Maybe close in 2 years prof.
And Yaaaaawwwwnnn, the long term holders have had few problems in this.
The frustrations speak volumes.
Though I'm slightly less confident about how gold will go in an inflationary scenario - it really depends a lot on what actions china and the middle east take in the event of a loss of confidence in the USD. Gold may feature, or oil could come back into the picture, or they may have other ideas altogether.
Hmm, gold prospects not looking bright in the short term. Futures drop as much as $16 in market pullback.
http://www.marketwatch.com/news/story/Gold-futures-drop-much-16/story.aspx?guid={AB36D21B-E980-4C96-B92A-916C3816B8BC}
Oil, I think will go down further into the 40's, probably early next year. When that happens and most major countries will be at pretty low interest rates at the same time, there has to be good potential for increased consumption (by volume at least) of all the basic commodities... and inflationary pressure as well.
A$350 per kilogram?
Silver sold at A$486/kg (+ or - ) today.
Correct....... buying at a discount is always a good thing, i bought it off a pawn broker (1 of my customers) and alot of the time i come across pure bullion in both silver and gold.
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