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  1. #1921

    Default

    It's just not worth paying interest on a gold investment that isn't going anywhere.

  2. #1922
    Join Date
    Dec 2007
    Location
    Vienna, Austria
    Posts
    2,662

    Default

    Quote Originally Posted by eri View Post
    another drop, now $1165

    could confidence in the us$ be returning?

    why would that be?

    Nowadays the price of gold is set by the market rather than by official diktat. When explaining shifts in the bullion market people tend to think in terms of supply and demand. Perhaps, however, they should view gold-price movements in terms of investors’ confidence in the dollar, and in paper money in general.



    http://www.economist.com/node/16646034
    I think it isn't so simple.. a few months ago Bugs were crowing about central bank purchases, they went quiet when it was discovered some of those purchases were involved in swaps ( gold offered as security for cash loans with the BIS) and now they are a bit caught out by the fact that in European Union more gold had been sold than bought by central banks. A very telling signal has been yesterdays attempted talk up of gold by the World Gold council. But it is very early days and still part of the summer doldrums. I wouldn't bet in any direction until September( may be) at the earliest where gold will go.

    Overall I get the impression that too many ( mum and dad investors thought gold was on a determinant rise and hadn't really factored in the risk of a correction.
    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

  3. #1923

    Default

    Okay, so you're backing out of your bet then?

  4. #1924
    Join Date
    Dec 2007
    Location
    Vienna, Austria
    Posts
    2,662

    Default

    NO way...............Just I have watched the gold market for too many years to get excited .............I think our prediction is reasonable and logical..........problem is I wouldn't say the same about the market at the moment............too many are emotionally involved with the yellow stuff..........they'd give up on their Harleys ( note not wives) first!!! opps wrong ICON should be +> :-)
    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

  5. #1925

    Default

    Yeah cos that's why the wives don't like amalgam fillings

    Keeps couples in one piece, gold dentures, better than a wedding ring really.

  6. #1926
    Join Date
    Dec 2007
    Location
    Vienna, Austria
    Posts
    2,662

    Default Contango Trap

    Bloomburg seems concerned( gold is currently in a contango) For those who have the solid stuff and think your safe: just look how much of the investment market is dominated by ETFs:


    http://www.businessweek.com/magazine...9050970461.htm
    Last edited by Austrokiwi; 29-07-2010 at 04:21 AM.
    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

  7. #1927

    Default

    Long term there's the US Federal Govt debt, NK and Iran.

  8. #1928
    Join Date
    Dec 2007
    Location
    Vienna, Austria
    Posts
    2,662

    Default

    Quote Originally Posted by Realist View Post
    Long term there's the US Federal Govt debt, NK and Iran.
    Don't forget the south Americans
    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.

  9. #1929

    Default

    Don't worry, Chavez is full of crap.

  10. #1930
    Join Date
    Dec 2007
    Location
    Vienna, Austria
    Posts
    2,662

    Default

    I have to disagree: he gets rid of it every time he gives a speech
    The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.


 

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