Because we live in Australia here zaph, and some of us were even born here too.
And that is the currency we use here, not US dollars.
The fact is, if gold was looking cheaper in Aussie dollars, the bulls would be using that number iinstead.
Gold is surging in aussies dollars, up around 4% in the last month.
If gold is rising in AUD because the AUD is falling against the USD, you are not getting richer. Your purchasing power is being eroded and replaced with more useless AUD. Yeah sounds like you are on to a winner...
If gold is rising in AUD because the AUD is falling against the USD, you are not getting richer. Your purchasing power is being eroded and replaced with more useless AUD. Yeah sounds like you are on to a winner...
Derr.....
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Because we live in Australia here zaph, and some of us were even born here too.
And that is the currency we use here, not US dollars.
The fact is, if gold was looking cheaper in Aussie dollars, the bulls would be using that number iinstead.
Gold is surging in aussies dollars, up around 4% in the last month.
If you want to play with USD then fair enough. Gold is transacted in USD. If you want to transact gold it will be in USD. The AUD/USd is irrelevant to the gold price.
If you want to play with USD then fair enough. Gold is transacted in USD. If you want to transact gold it will be in USD. The AUD/USd is irrelevant to the gold price.
You are talking bollocks.
I bet your house has gone down quite a lot in USD terms as well.
Gold isn't oil. It isn't transacted exclusively in USD. If I buy from Perth Mint, the price quoted and paid is in AUD. When I sell back to Perth Mint, they give me back AUD. USD doesn't come into it. My only interest in the Gold price is how many AUD it will buy me.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
I bet your house has gone down quite a lot in USD terms as well.
Well yes it has. When the AUD was worth about $1.10 USD my house was probably priced above what most foreign buyers would pay, but now that the $AUD has fallen by 21% my house is looking very much like a bargain on the world market.
I might put the price up.
Any expressed market opinion is my own and is not to be taken as financial advice
Well yes it has. When the AUD was worth about $1.10 USD my house was probably priced above what most foreign buyers would pay, but now that the $AUD has fallen by 21% my house is looking very much like a bargain on the world market.
I might put the price up.
If the foreign buyer happens to have a pile of USD then yes, it would be cheaper for them. Fact is though that most currencies have fallen against the USD over the last month.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
If the foreign buyer happens to have a pile of USD then yes, it would be cheaper for them. Fact is though that most currencies have fallen against the USD over the last month.
Well as a matter of fact many do have USD$
Here is an interesting chart for those wanting to compare the various asset types although property isn't included.
The assets considered by many to be the safest have performed miserably over a long period of time. That is pretty much the point that Doc Watson constantly makes. The economic "system" wants us to buy assets, not store our wealth in money or gold which has no benefit to the economy.
The assets considered by many to be the safest have performed miserably over a long period of time.
By definition, a safe asset should be a store of value and according to the chart, Gold has been exactly that.
Stocks may have provided many with great riches but they have also made many very poor.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
By definition, a safe asset should be a store of value and according to the chart, Gold has been exactly that.
Stocks may have provided many with great riches but they have also made many very poor.
It's called risk management.
By definition someone who has invested $1 in 1802 to make $2.21 2012 years later has managed their risks very poorly, in fact not much better than someone who blew the lot and had to start again.
Don't forget that the above graph ends in 2013. Since then gold has started to return (fall) to the mean and stocks have risen.
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