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Why don't wait for £1? That would be even lower!

 

Touché. Or not.

 

If your question wasn't so obviously flippant, I might've tried a rational, reasonable and objective reply. We'd both know I'd be wasting my time, though.

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is it just me or does anyone else get quizzed by the banks when wiring funds over to goldmoney

 

how did we sleep walk into state control

 

its my money and I want to be able to do whatever i want with it without being forced to answer the questions

 

Yep me too. I loath their prying. 'Money laundering' they say to me. Bloody hell, I think, perhaps if you'd scrutinised your own investments more closely we wouldn't be in this mess. :angry:

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Looks like martyn Armstrong might be right about gold making a low in april. Do I have it correct that if thats he tthinks the dow will crash from here to june? What about gold, will it rally as a safe haven?

 

I dont know why CID have such a large premium on 100g gold bars. Its cheaper to buy 5 x 20g or about the same price as 20 x 5g! Bairds are cheaper for bars. I might buy some nuggets. https://www.coininvestdirect.com/main.php?a=11&id=5 Do they come in capsules?

 

 

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Any idea what caused today's sudden fall?

 

NEW YORK (MarketWatch) -- Gold futures fell more than 1% Thursday as fresh jobs data fueled hopes that the U.S. economy is stabilizing and as deflation worries reduced gold's attractiveness as a hedge against rising prices.Dampening gold's safe-haven appeal, the Labor Department reported early Thursday first-time claims for state unemployment benefits fell to their lowest level since the end of January in the latest week. Meanwhile, J.P. Morgan Chase & Co. reported better-than-expected earnings results.

"There is a knee-jerk reaction to the earnings news and jobs data that are stripping gold of the safe-haven bid," said Brian Kelly, chief executive officer of Kanundrum Research, a commodities and macroeconomic research firm.

Gold for June delivery ended down $13.70, or 1.5%, at $879.80 an ounce on the Comex division of the New York Mercantile Exchange, ending below $880 for the first time since April 6.

Gold investors also closely watched for signs of deflation, as the metal is seen as a hedge against rising prices.

In gold trading, it's "almost a tug of war between buyers and sellers, inflation or deflation believers," said George Gero, a precious-metals trader for RBC Capital Markets.

http://www.marketwatch.com/news/story/Gold...40DA151D09EF%7D

 

Though I think it is not so clear cut as a simple tug of war between inflation and deflation as the article makes out. Gold spiked on fears of a deflationary collapse... and then did not do much when they pulled the QE trigger. pog may fall here as investor sentiment improves. Inflationary expectation would only support the price here. I imagine pog will spike again once the wave of optimism recedes and we see new lows in the Dow and renewed fears for the economy. May take a few months.

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I might buy some nuggets. https://www.coininvestdirect.com/main.php?a=11&id=5 Do they come in capsules?

I haven't bought Nuggets from them. But the various other one-ounce coins I have bought from them (Luna Mouse, Maple, Philharmoniker, Britannia, Panda, Krugerrand, Eagle) do not come in capsules, just in a little plastic bag.

 

Some of the one-ounce silver coins come in capsules: Panda and Australian ones. Others (Maple, Philharmoniker, Eagle, Libertad, Britannia) are in plastic bags.

 

The 1-kilo Koala is in a capsule.

 

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I dont know why CID have such a large premium on 100g gold bars. Its cheaper to buy 5 x 20g or about the same price as 20 x 5g! Bairds are cheaper for bars. I might buy some nuggets. https://www.coininvestdirect.com/main.php?a=11&id=5 Do they come in capsules?

 

when I got half a dozen nuggets from them, they came in individual plastic cases

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http://jsmineset.com/index.php/2009/04/16/...ctions-on-gold/

I recently did the math again and was sadly shocked to see what the price of gold would have to be to balance the international balance sheet of the USA today. That price for gold is more than twice Alf’s projected maximum gold price.

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To buy or not to buy. :huh:

 

The trend is down... but a slooow down as investors look indecisive. We have further QE looming in the background, but now deflation expectations are once again coming to the fore. A schizophrenic market could see pog go either way... but I think short term the trend is down. Even so, I will look to start averaging in shortly. My aim is free hold property and I think it is a fair bet that in a few years time 100 ounces should be able to achieve this. If the deflated price of an average property should be worth 3 years earnings, and given I save most my income, I reckon 4 years savings should buy a property. 100 ounces divided by 48 months is 2 ounces. Therefore, by my reckoning, if I can buy 2 ounces of gold with my monthly savings that represents excellent value [as long as I keep some powder dry for the possible big dip]. Presently, gold looks like a good buy to me and if it gets cheaper, all the better the value. Even though pog does not look likely to explode at the present moment, one has to wonder for how long pog will remain at these levels.

 

a.gif

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From the attached report by UBS

 

What if there was a new gold standard?

 

One question, once unthinkable, is increasingly being asked by investors: where

could gold go if a new gold standard was adopted to support currencies, but

most pressingly the world’s reserve currency, the US dollar.

 

The answer is reasonably simple if one assumes that the only currency in

circulation needs to be backed directly and completely by gold.

 

If one uses the current value of the US monetary base, which has risen at an

unprecedented rate recently, and compares this with official US holdings

data, which suggest the government holds 8,134 tonnes, a value of

US$6,498/oz is derived for gold. That is, gold would need to be valued at

this level to support the value of the dollar, given the supply of dollars in

circulation. We have also calculated the implied gold price using the

monetary base level before the recent spike; this corresponds to US$3,250/oz.

 

If one includes Japan, as the world’s second-biggest economy (given its gold

holdings are significantly lower at 765 tonnes), a value of US$8,459/oz is

calculated.

 

Finally, if one also includes China (using the base money supply for all three

countries and combined holdings of gold), a value of US$9,562/oz is

calculated.

 

 

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To buy or not to buy. :huh:

 

Price is irrelevant. Just buy bit by bit, month by month. I am buying at $900, $800, $700, or anything higher or lower. Gold is gold.

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Price is irrelevant. Just buy bit by bit, month by month. I am buying at $900, $800, $700, or anything higher or lower. Gold is gold.

 

Surely price is relevant? Are you telling me your behaviour would be the same at 6000 an ounce as at 600 an ounce?

 

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Surely price is relevant? Are you telling me your behaviour would be the same at 6000 an ounce as at 600 an ounce?

What he means is that a price range of $500-$1,000 is a superb buying opportunity given that the more conservative calculations for equilibrium prices range at $5,000-$6,000. As usual, the market will overshoot.

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If one includes Japan, as the world’s second-biggest economy (given its gold

holdings are significantly lower at 765 tonnes), a value of US$8,459/oz is

calculated.

 

Finally, if one also includes China (using the base money supply for all three

countries and combined holdings of gold), a value of US$9,562/oz is

calculated.

A shame they didn't also consider the major West European economies: Germany, France, the UK and Italy.

 

Don't these four outweigh Japan plus China in terms of GDP?

 

I get the feeling that many people are increasingly overestimating Asia, or at least underestimating Western Europe.

 

Culturally the central source of nearly all that people call "modern science, technology and medicine" is Western Europe: the U.S.A. and Canada are largely cultural outgrowths of Western Europe.

 

And contrary to the beliefs of many Americans, a lot of the most important inventions are from Europe (for example, the internal combustion engine developed by Belgian and German inventors).

 

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A shame they didn't also consider the major West European economies: Germany, France, the UK and Italy.

 

Don't these four outweigh Japan plus China in terms of GDP?

 

I get the feeling that many people are increasingly overestimating Asia, or at least underestimating Western Europe.

 

Culturally the central source of nearly all that people call "modern science, technology and medicine" is Western Europe: the U.S.A. and Canada are largely cultural outgrowths of Western Europe.

 

And contrary to the beliefs of many Americans, a lot of the most important inventions are from Europe (for example, the internal combustion engine developed by Belgian and German inventors).

 

If you look at medical research, then Europe is really beginning to lag behind China. There are far too many constraints here compared to over there. The American position on stem cell research set them back considerably. So whilst historically you are right, the future will be much different.

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What he means is that a price range of $500-$1,000 is a superb buying opportunity given that the more conservative calculations for equilibrium prices range at $5,000-$6,000. As usual, the market will overshoot.

 

Fair enough. I tend to agree, although hopefully will get more at the lower end of the range!

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Price is irrelevant. Just buy bit by bit, month by month. I am buying at $900, $800, $700, or anything higher or lower.

If you believe there will be a super abundance of "money" in some hyper-inflationary flood of it, then yes, buy as much gold and as soon as you can because your paper will soon be worthless. If on the other hand you believe, as I do, that there will be a scarcity of money in the next few deflationary years you will be much more cautious in how and when you spend it. Gold will only double... or at most triple in price from recent peaks. Hence if I can buy twice as much gold with my limited reserves and income, I will do a lot better than buying willy nilly.

 

The prime reason to buy gold is not because paper will become worthless, but because currencies may depreciate against real assets.

 

Gold is gold.

And the market is the market, and money is what people take it to be. Get with the program. :lol:

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