Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 3
Back up the truck, the time to buy Gold is NOW (banks are selling but we're buying!); Guaranteed - Gold is the ULTIMATE long term investment (we can't give you the same guarantee for stocks)
Topic Started: 11 Oct 2013, 04:29 PM (3,440 Views)
miw
Member Avatar


Kulganis
12 Oct 2013, 12:44 PM
I'm not into gold other than what is used in my electronics, but clearly they are discussing the certificate gold on the futures exchange, not physical gold that you can hold.
The Kitco is spot gold for immediate delivery (which is effected simply by the movement of some serial numbers from one gold account to another - the bars do not physically move by default) .

A lot of places you look, as you say, give the price of the nearest month gold future because it is somewhat more liquid.

There is very little distinction. If you are long the near month future contract to expiration, you will be required to take delivery. A futures contract entails the obligation to buy or sell - it is not an option, and the near-month futures prices vary very little from the spot price, because the transaction cost of taking delivery is so low.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


goldbug
12 Oct 2013, 12:34 PM
Are you a doomer? A bunker and beans person or something. A little at odds with your investment strategy but I will answer your question.

Not all the available dollars would chase gold, very few of the working class actually have many dollars, what they have is debt, and yes they will want food in your senario. But there are other people who have quite a lot of money and they at some point will want gold and prefer it to their fiat money because they can plainly see that paper money is losing value around the world, rapidly. This has always been the case in history. It is why nations always go back to gold at some point.

But how can I answer your question properly without parameters? You could be talking about an argentinian style default (where gold was very useful) or you could be talking mad max. Personally I don't see Australia turning that bad. If you lived in Greece today and you had bought gold around the GFC you would be very happy with your decision. the same as if you lived in Iceland or any number of nations that have seen their currency devalued or their bank accounts used as bail-ins, their private pensions stolen.

Now that I have answered your question as best I could, kindly answer mine. Why have the world's central banks, especially those outside of the USD family (Aus, Eng, Can, etc) Been loading up on gold. Why did Germany, the wealthiest eurozone nation, demand theirs back from the NY vaults? Why, if gold is worthless are they divesting $US for gold?
aha! you got me - im a doomer :lol

FWIW i asked you about the doomsday scenario because you brought it up (or something similar) a while ago.

Im not going to sift through all your posts under your different accounts because i don't come here to argue or to make other people look foolish though i will say it's funny you should mention CB purchases since i actually asked you several times if you thought China was buying because they had plans to further devalue the rmb but you didn't reply to that question either.

why are CB's buying gold? my take is it's because Indian women love the shit and canned tuna isn't an option because it spoils too quickly.

If gold was the holy grail and cured all types of disease why have CB's also been selling it over the years?

lighten up and lay off the Gregory Mannarino for a while - he's bad for anyone's nervous system :lol

look, i really enjoy the time i spend at APF and i don't want to be put off from coming here so have a beer on me while i enjoy one on this end

cheers mate

actually fuck it, there's one here for Kris as well

Posted Image
Edited by mel, 12 Oct 2013, 06:54 PM.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


mel
12 Oct 2013, 06:53 PM
why are CB's buying gold? my take is it's because Indian women love the shit and canned tuna isn't an option because it spoils too quickly.

If gold was the holy grail and cured all types of disease why have CB's also been selling it over the years?
2 bloody good questions. But the runup in gold prices since the GFC has coincided with worldwide CB reserves climbing from 30k to 31.8k tonnes and physical gold ETFs going from zip to about 2k tonnes and the large funds increasing their weighting of gold from the 4% level to around the 8% level.

ETFs and the large funds are selling off their gold. What will happen if CBs follow their lead?

The title of the image below is a bit ambiguous. It is CB reserves.

Posted Image
Edited by miw, 12 Oct 2013, 07:07 PM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


miw
12 Oct 2013, 07:05 PM
ETFs and the large funds are selling off their gold. What will happen if CBs follow their lead?
good call on the big wig sell off, though honestly i haven't given much thought to CB's dumping (but anything is possible and it wouldn't be the first time!)

It appears your trade last night once again decimated the metal market miw. Nice work and great market timing as always. :oo:
Edited by mel, 12 Oct 2013, 08:00 PM.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


mel
12 Oct 2013, 07:59 PM
It appears your trade last night once again decimated the metal market miw. Nice work and great market timing as always. :oo:
It is yet to decimate the metal market, unfortunately. I shorted after the gap down, not before it. As of now I am out a small number of bux because gold recovered somewhat during the day. This is the main reason why I rarely fuck with PMs. Most of the action happens outside of hours when I have access to a market, so it's always all over bar the shouting for me on the big moves. For some reason there are rarely big moves between 09:30 and 16:00 US EST.

But I am looking more to what will happen on Monday when we'll have a better idea of what is happening with the debt ceiling. There will likely be a sharp leg in one direction or the other. I am obviously hoping for down, but it all depends on a bunch of useless scoundrels in Washington doing the right thing, so.......

The interesting thing about the action last night was that mostly the gold price went in tandem to the movements of the S&P500 rather than opposite to it, as you might expect. I think that is just because it was not a very choppy day on the market.

Edit: Actually on reflection I think it is because after the initial selloff, a lot of people were buying up some gold because in the event that on Monday there is no deal on the debt ceiling, gold will jump quite nicely while equities tank. It's a short-term tail hedge.
Edited by miw, 12 Oct 2013, 08:55 PM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
herbie
Member Avatar


My indifference level to gold is pretty high. But it's potential volatility does make it 'fun' to hold a tiny bit of - Shute; Me ole ma has an oz she inherited from her pa plus another couple of oz maybe of 22 ct jewellery I gave her as a gift after a trip to Dubai in 2005 - She derives a reasonable amount of entertainment from following its ups 'n downs. As do I.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
Profile "REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


herbie
12 Oct 2013, 08:37 PM
My indifference level to gold is pretty high. But it's potential volatility does make it 'fun' to hold a tiny bit of - Shute; Me ole ma has an oz she inherited from her pa plus another couple of oz maybe of 22 ct jewellery I gave her as a gift after a trip to Dubai in 2005 - She derives a reasonable amount of entertainment from following its ups 'n downs. As do I.
it's funny Herbs but even the guys here who bag gold usually own a small amount just in case. I love gold but think it's overvalued from a practical standpoint - i cant see that the 5kg bar you can hold in your hand is worth the same as a very nice house in a regional area with a brand new car in the driveway.. others obviously disagree though as there is no shortage of gold aficionados out there :)
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
herbie
Member Avatar


mel
12 Oct 2013, 08:51 PM
it's funny Herbs but even the guys here who bag gold usually own a small amount just in case. I love gold but think it's overvalued from a practical standpoint - i cant see that the 5kg bar you can hold in your hand is worth the same as a very nice house in a regional area with a brand new car in the driveway.. others obviously disagree though as there is no shortage of gold aficionados out there :)
I don't own it 'just in case' as in any end of the world type possible scenario Mel - Though I did cover off on my family's possible need for any jewellery purposes back in about 2005. Hold around 7 oz of 22 ct jewellery from Dubai plus about a pound of pre-decimal silver coins 'n a bunch of very small nuggets. No great skin off my back to sit it. (The pound of pre-decimal coins were a great buy - Got them at 'face' value - Ie 10c for a shilling etc - Plus a few grubby ole paper $1 'n $2 notes at the same time - That's what the dude wanted for them? Not that I met the dude - Simply bought them through a middle man acting on his behalf. Strange; But there you have it.)
Edited by herbie, 12 Oct 2013, 09:10 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
Profile "REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


herbie
12 Oct 2013, 09:04 PM
I don't own it 'just in case' as in any end of the world type possible scenario Mel
me either Herbs, im a motherfucking speculator :lol

i agree jewellery is nice because it can serve 2 purposes = )

Dubai is a funny place with too much bloody money IMHO. I know of a bloke from melbourne who fits out audio setups for clubs there (he spends 50 - 50 time in Aus and Dubai) and even when the media were all over the Dubai drama he came back and said things appeared to be booming like he'd never seen before. I would love to spend some time there some day.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
Pig Iron
Member Avatar
Bogan scum

herbie
12 Oct 2013, 09:04 PM
I don't own it 'just in case' as in any end of the world type possible scenario
here's the thing, gold is worthless in an end of the world scenario.

ammo and fresh water are the only things that count then.
I am the love child of Tony Abbott and Pauline Hanson
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Create your own social network with a free forum.
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 3



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy