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Thread: Who buys gold ?

  1. #2971

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    Quote Originally Posted by jessicasyl View Post
    I know that buying gold is a hedge against inflation and can be a good long term investment, but wouldn't purchasing bonds from the treasury be better since they pay interest over time?
    Bonds if meant treasuries,pay interest on a capital which inflation is eating faster than the interest rate pays you.

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  2. #2972

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    Poland Continues To Aggressively Buy Gold

    https://www.zerohedge.com/commoditie...ively-buy-gold

    The National Bank of Poland (NBP) increased its gold reserves for the fourth consecutive month in July as the country continues to aggressively stockpile the precious metal.

    According to calculations by the DGP newspaper, 720,000 ounces of gold were bought last month, valued at about $1.4 billion. This is more than in any of the previous three months. The paper estimated that the total gold reserves held by the Polish central bank have increased to 9.6 million ounces, or nearly 300 tons.

    Since the beginning of the year, the NBP has increased its gold supply by 2.3 million ounces.
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  3. #2973
    Join Date
    Nov 2017
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    5

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    $1892 per oz today. Time to buy??

  4. #2974

    Default i think not

    Quote Originally Posted by Maudlin View Post
    $1892 per oz today. Time to buy??
    Gold at present is well established in a secular bear market. Everything about the price action is screaming DOWN. Long open interest in all future contracts is at all time lows. ETF outflows are at the highest since GLD started trading. Every miner and junior has the greatest cash outflows in their collective history. The Fed shows every sign of tightening further. All of this is fact and has the greatest real impact on spot price. The geopolitical gibberish is just that. All fantasy and speculation. Look at gold in 2013. It fell from 1949 to around 1100. I'm not saying that will happen, or even that precedents corelate with today's different conditions, but it is absolutely a possibility. Gold is already almost 200 points off its last high, and the momentum of its crash is accelerating. We are approaching the sort of selling that requires no more reason then that the price is dropping. All past charted analogs that indicated a probability for higher near term prices have proved wrong. I never argue with the market. I never impose my opinion about what price something 'should' be at on price reality. I am way too old to buy dips and wait through an entire 15 year bear/bull cycle too. So, if you can wait many years, and are buying as a LONG term hold, this MIGHT be a good price. If you have a trader's reflexes, why would you put in a buy in a market crashing on massive short interest, where technical 'support' levels, all of them, have evaporated and stepped aside instantly with this locomotive coming through at high speed? I've been long GLD put options for 2 weeks, and have no intention of selling them yet. I'm expecting lower prices, and have no intention of buying physical anymore. I'll just trade the ETF or the options. That's me anyway. You're you and have a different agenda. When it comes to these tough calls, you can ONLY go with what you are comfortable with. If you like that price and plan to hold on, get it. If that price makes you question your judgement too much, hold off and wait. I'd rather pay a little more and buy into a rising market, then play a guessing game and buy into a falling one, especially one that shows evidence of heavy crashing.

  5. #2975

    Default

    Quote Originally Posted by El Dios De la Plata View Post
    Gold at present is well established in a secular bear market. Everything about the price action is screaming DOWN. Long open interest in all future contracts is at all time lows. ETF outflows are at the highest since GLD started trading. Every miner and junior has the greatest cash outflows in their collective history. The Fed shows every sign of tightening further. All of this is fact and has the greatest real impact on spot price. The geopolitical gibberish is just that. All fantasy and speculation. Look at gold in 2013. It fell from 1949 to around 1100. I'm not saying that will happen, or even that precedents corelate with today's different conditions, but it is absolutely a possibility. Gold is already almost 200 points off its last high, and the momentum of its crash is accelerating. We are approaching the sort of selling that requires no more reason then that the price is dropping. All past charted analogs that indicated a probability for higher near term prices have proved wrong. I never argue with the market. I never impose my opinion about what price something 'should' be at on price reality. I am way too old to buy dips and wait through an entire 15 year bear/bull cycle too. So, if you can wait many years, and are buying as a LONG term hold, this MIGHT be a good price. If you have a trader's reflexes, why would you put in a buy in a market crashing on massive short interest, where technical 'support' levels, all of them, have evaporated and stepped aside instantly with this locomotive coming through at high speed? I've been long GLD put options for 2 weeks, and have no intention of selling them yet. I'm expecting lower prices, and have no intention of buying physical anymore. I'll just trade the ETF or the options. That's me anyway. You're you and have a different agenda. When it comes to these tough calls, you can ONLY go with what you are comfortable with. If you like that price and plan to hold on, get it. If that price makes you question your judgement too much, hold off and wait. I'd rather pay a little more and buy into a rising market, then play a guessing game and buy into a falling one, especially one that shows evidence of heavy crashing.
    certainly you are a long time trader and stacker. you claim to have enough gold physical and will only trade the gld etf now. you see all systems point to gld falling and i guess taking physical down with it as in the past. ok, well you may or may not be right so if you would, give us your call as to how far down will the drop carry physical this time? i still have hope that i may see a disconnect of paper to physical when the paper tanks which i believe it will. i believe all paper falls eventually into oblivian. i have to think the frn reset is very soon upon us which will also trigger the stock market to tank eventually leaving physical precious metals alone on the launch pad. what is your call?

  6. #2976

    Default

    Most EtFs are just garages for excess cash, it never is the intention of ETF buyers to keep these papers in a conservative way, they are sold when they need the cash for other purposes, like repainting their balance sheets. In that respect " gold " ETFs fulfill their purpose.

    Everyday we read and hear bad econimical news from around the globe, Until these days US stocks have been at the pinacle and crowing high. I think it has been a desperate move from all bigger financial holders like pension funds and investment trusts ( like the biggest of the world a Norvegian trust ) which recently declared that the value of their US stockholdings are getting dangerously high.

    The actual US stockvalue growth under the circumstances ( value far over the earnings / profits ) show cancerous features.

    It is clear that everywhere a reset must happen, we have everywhere been throwing money out of the windows and must start redescover the value of a cent.

    It are not only the chinese who have painted themselves in a corner, The buoyent years pushed all frugal people in a corner and the spenders got the lead. Now the spenders are in trouble. They can sell ETFs, and the papergoldprice will certainly go down, but the premium for physical might just go up.

    It is clear that if god ETF prices dwindle, it becomes interesting to buy and demand for delivery. ( suppose they will force people to accept money, not physical if the demand for - cheap - physical grows, Rules can easily be altered; )

    Ups and downs always happen for different reasons, but IMO it is unwise to sell Physical gold whatever the actual price might be, if one does not really need to sell. Selling gold is IMO a last resort action.

    Golditiki2+++

  7. #2977

    Default

    It seems that the high interest rates are squeezing banks and forcing them to not lend. Lending is what keeps a debt based system afloat. So as commercial loans come due many are not able to refinance or are faced with much higher interest rates. A lot of this property may end up going back to the banks. Banks that can't eat the loss of asset value that will come from the huge supply of distressed properties on the market. Banks will fail unless something changes soon. Stocks will reflect the damage caused to hedge funds and others and investors caught on the wrong side of the market will be getting margin calls. So if as many are predicting we're headed for a major downturn then paper gold and silver will be sold off as investors are forced to raise cash for these margin calls. I've read that mining companies will fall along with everything else, but they will bounce back faster and sooner than the rest of the market. However, there will be a time where PM will be sold off by people needing cash to survive. Those that haven't overextended themselves will have a nice buying opportunity. The rest will be in for a world of hurt, IMHO.
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  8. #2978

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    in Cdn$, POG hasn't drop that much, now it cost 1.353x to buy a USD

  9. #2979
    Join Date
    Mar 2009
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    11,761

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    Quote Originally Posted by yellowsnow View Post
    in Cdn$, POG hasn't drop that much, now it cost 1.353x to buy a USD
    It seems like a no win situation. Surprised the the canuck buck dropped the last month or so.

    Makes any import item more expensive including the prices of commodities.
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  10. #2980

    Default

    Quote Originally Posted by digbird View Post
    It seems like a no win situation. Surprised the the canuck buck dropped the last month or so.

    Makes any import item more expensive including the prices of commodities.
    higher prices are there to stay, the mass of people have to swallow the higher cost ( or bettersaid depreciation of their earnings ) as a fatal ( staged) truth.

    The only one who profits from the new situation is the taxman, when everything is sixteen percent higher the taxman here gets Valued added taxes ( VAT ) on all what joe sixpack has to buy here at least 3.84 percant more revenue....a kind of hiiden taxincrease as to say ( here in the happiest country of the world the VAT is 24 pct. and we pay even in at least one case i know Vat on taxes !!!

    Golditiki2+++

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