Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Tweet Topic Started: 3 Apr 2013, 10:29 AM (37,692 Views)
You have to go back to Aug 2011 to find the last time the price (in $AU) was lower than it is today (ie, < $AU1500). $AU Gold price has been in a consistent down trend for over 18 months now.....
The fact is that there is little meaning to Gold now. Traders must be asking themselves "what is the point of gold?". And once a critical mass (~20%) start asking that question it's only worth what industry is willing to pay.
With regards to what Shadow is saying about Steve Keen also applies somewhat to myself. Of all several predictions I have made in the past few years I'm probably LEAST correct (or most incorrect) about housing. It didn't fall as much as I predicted but I'd like to think my comments on the XJO, Apple, Gold and interest rates are redeeming.
The fact is that there is little meaning to Gold now. Traders must be asking themselves "what is the point of gold?". And once a critical mass (~20%) start asking that question it's only worth what industry is willing to pay.
With regards to what Shadow is saying about Steve Keen also applies somewhat to myself. Of all several predictions I have made in the past few years I'm probably LEAST correct (or most incorrect) about housing. It didn't fall as much as I predicted but I'd like to think my comments on the XJO, Apple, Gold and interest rates are redeeming.
Catweasel say perhaps mouse blessed with special power to know a future.
You're gold call will prove as hopelessly wrong as your XAO call
Well MY post, the one you responded to, certainly did reference the $AU price. And to those of us who live in Australia, it's the only price that matters.
Re me being hopelessly wrong, can you please quote for me my "call on Gold" please? It might be a bit hard, as I've never made one - I'm only pointing out what has already hapenned to the price....
PS: I don't trade or invest in Gold either - too speculative and meaningless for me. But well played to anyone that made cash out of it in the past 5-6 years though!
For Aussie property bears, "denial", is not just a long river in North Africa.....
. And to those of us who live in Australia, it's the only price that matters.
Re me being hopelessly wrong, can you please quote for me my "call on Gold" please? It might be a bit hard, as I've never made one - I'm only pointing out what has already hapenned to the price....
PS: I don't trade or invest in Gold either - too speculative and meaningless for me. But well played to anyone that made cash out of it in the past 5-6 years though!
Mouse need learn that world big the place.
Many the different perception exist.
And if a take place outside small universe of mouse, not necessarily the meaningless.
The fact is that there is little meaning to Gold now. Traders must be asking themselves "what is the point of gold?". And once a critical mass (~20%) start asking that question it's only worth what industry is willing to pay.
Half the central banks on the planet and all the super wealthy have been pouring into if for years now and you have an opinion that you feel lines up with traders? The shit you feed on from the mass media has one aim, to empty your pockets. No one with half a brain cares what traders say or think, they are noisy little middlemen, or at the bottom of the scale, pathetic little backyard dreamers.
Negative gearing is a form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan
A negative gearing strategy can only make a profit if the asset rises so much in price that the capital gain is more than the sum of the ongoing losses over the life of the speculation. http://en.wikipedia.org/wiki/Negative_gearing
Analysts have wondered how rents could keep climbing when jobs are being created at a sluggish rate and wage growth has been relatively stagnant: all of Reis's major markets now boast rent levels well beyond peaks achieved prior to the recession.
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