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(Globe and Mail)   Latest rally in gold will last   (theglobeandmail.com) divider line 30
    More: Obvious, gold bar, precious metals, European Central Bank  
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870 clicks; posted to Business » on 08 Sep 2012 at 11:45 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-08 12:03:42 PM
At some point, gold will go down, then, later, it will go up again. Then it will go down. Then up...
 
2012-09-08 12:44:43 PM
Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").
 
2012-09-08 01:09:31 PM
I trade gold, oil, and certain forex. Friday's rally made my month and I'm very happy.
 
2012-09-08 01:43:16 PM
Cant go wrong with canned food and shotguns
 
2012-09-08 01:53:35 PM
I've got all my money in pumpkin futures. I've got a feeling they're going to peak right around January, and then I'll score!
 
2012-09-08 04:38:47 PM
you know i am all for these double articles. But the POINT of them is that they come from the same source to show pandering or lack of knowledge on the subject.

When you source two ENTIRELY different publications all you are doing is showing that people have different opinions.

Its not funny and its obvious.
 
2012-09-08 05:00:23 PM
assets.amuniversal.com

hot hot hot
 
2012-09-08 05:16:04 PM

nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").


It amazes me that some people still think that wealth comes from the money supply
 
2012-09-08 05:20:43 PM
You should buy gold it's a good investment. It's a good investment because it will keep increasing in value. It keeps increasing in value because people think it will keep increasing in value. People keep thinking it'll keep increasing in value because I keep telling them its a good investment.
 
2012-09-08 05:31:47 PM

nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").


Wrong: it's a counter to the perceived expansion of the money supply.

And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.
 
2012-09-08 05:39:16 PM

Smackledorfer: nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").

Wrong: it's a counter to the perceived expansion of the money supply.

And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.


What is also interesting is that there isn't usually a large deviation from the price of mining gold to the market price of gold. The gold supply also increases at roughly the same rate as world population. Those factors have helped Gold be the world standard of currency since humans started bartering and needed to add durability to their exchanges.
 
2012-09-08 06:41:27 PM

Smackledorfer: nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").

Wrong: it's a counter to the perceived expansion of the money supply.

And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.


and it's a damn good conductor
 
2012-09-08 06:51:06 PM

cleveralthere: Smackledorfer: nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").

Wrong: it's a counter to the perceived expansion of the money supply.

And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.

and it's a damn good conductor


Which doesnt come close to accounting for its value.
 
2012-09-08 07:56:47 PM

Smackledorfer: And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.


Gold has a number of physical properties that make it ideal for certain applications: it's an excellent conductor, it doesn't tarnish, it's easily malleable, and can be pounded and spun thinner than many other metals. Does that necessarily justify its price? Perhaps not, but neither does the price of diamonds, or oil, or DVDs. Capitalism requires demand, but it doesn't require that the demand be sane. The Dutch Tulip bubble proved that centuries ago.

Gold's price means demand is growing faster than supply. Is a worldwide growth in the middle class and disposable income a bad thing?

On the other hand, some of the demand is due to the sheep mentality, because of "runaway inflation" and "impending financial meltdown." So, if gold is going to be so valuable, why are you selling it now, at a lower price, in exchange for the cash that's soon to be worthless? The best time to buy gold is when the economy is humming ($250/oz in the early 2000s), not when it's hurting ($1800/oz today).
 
2012-09-08 08:22:03 PM

ImpendingCynic: Smackledorfer: And before anyone tries to justify gold's price: there are more useful metals that should be worth more. All gold has is shine and a history of value.

Gold has a number of physical properties that make it ideal for certain applications: it's an excellent conductor, it doesn't tarnish, it's easily malleable, and can be pounded and spun thinner than many other metals. Does that necessarily justify its price? Perhaps not, but neither does the price of diamonds, or oil, or DVDs. Capitalism requires demand, but it doesn't require that the demand be sane. The Dutch Tulip bubble proved that centuries ago.

Gold's price means demand is growing faster than supply. Is a worldwide growth in the middle class and disposable income a bad thing?

On the other hand, some of the demand is due to the sheep mentality, because of "runaway inflation" and "impending financial meltdown." So, if gold is going to be so valuable, why are you selling it now, at a lower price, in exchange for the cash that's soon to be worthless? The best time to buy gold is when the economy is humming ($250/oz in the early 2000s), not when it's hurting ($1800/oz today).


Who said I'm selling gold now, and what the hell are you talking about wrt cash becoming worthless?
 
2012-09-08 08:42:10 PM

ImpendingCynic: Gold has a number of physical properties that make it ideal for certain applications: it's an excellent conductor, it doesn't tarnish, it's easily malleable, and can be pounded and spun thinner than many other metals.


I wouldn't call gold an "excellent conductor." It has resistivity about 50% higher than copper, has over twice the density of copper, and has less than 1/3 the heat capacity of copper. You'll often see gold plating on electrical connections for the other reasons you listed, but you'll never see it used to actually carry current. There may be some exotic applications that require a very specific type of property that use gold to carry current, but I haven't come across any outside of an academic lab. Copper and aluminum are the kings of current. Aluminum is commonly used because it's cheaper and lighter than copper to achieve the same ampacity rating, although it takes up more cross-sectional area because of it's higher resistivity, making it great for applications where space is not an issue. Sometimes you'll also see silver carrying current in very specific applications, such as dual-element fuses, because it has the lowest resistivity of any metal.
 
2012-09-08 09:05:41 PM

Smackledorfer: On the other hand, some of the demand is due to the sheep mentality, because of "runaway inflation" and "impending financial meltdown." So, if gold is going to be so valuable, why are you selling it now, at a lower price, in exchange for the cash that's soon to be worthless? The best time to buy gold is when the economy is humming ($250/oz in the early 2000s), not when it's hurting ($1800/oz today).

Who said I'm selling gold now, and what the hell are you talking about wrt cash becoming worthless?


I wasn't referring to you personally, I was referring to the people pushing gold. They tell you that you better buy gold now before money becomes worthless, because gold will be the only thing that has value.
 
2012-09-08 09:29:31 PM

ImpendingCynic: Smackledorfer: On the other hand, some of the demand is due to the sheep mentality, because of "runaway inflation" and "impending financial meltdown." So, if gold is going to be so valuable, why are you selling it now, at a lower price, in exchange for the cash that's soon to be worthless? The best time to buy gold is when the economy is humming ($250/oz in the early 2000s), not when it's hurting ($1800/oz today).

Who said I'm selling gold now, and what the hell are you talking about wrt cash becoming worthless?

I wasn't referring to you personally, I was referring to the people pushing gold. They tell you that you better buy gold now before money becomes worthless, because gold will be the only thing that has value.


Ah yes. And then bonus they sell gold coins to the rubes too. Pure profit.
 
2012-09-08 09:41:38 PM
Late last year into early this year, I kept reading plenty of people posting here that the gold bubble was ready to pop and the price would be sub-$1,000 in a few short months. Of course they turned out to be dead wrong. Thankfully, the idiots who think Glenn Beck influences the price of gold and think that everyone who loves gold are whacked out end-timers have crawled back into their caves.

Gold is not currently in a bubble. I've been investing in precious metals and gold stocks for about 25 years. Since about 2009, a lot of people have thought that gold prices were about to tank, but they've been wrong. Gold is just starting to get warmed up. Central banks in China, Russia, Mexico, Turkey and North Korea have been snatching it up. Soros and John Paulson have recently increased their gold investments, Dennis Gartley is now strongly bullish. Even Bill Gross of PIMCO said last week that in the current market environment, gold and precious metals are a better choice than stocks and bonds. And considering that Bill is nicknamed "The Bond King", and made billions of dollars of his own fortune in bonds, this says a lot.

There will be a time in the next 2-3 years where there will be a mania in gold. People will go crazy for gold and gold stocks. Precious metal newbies will offer their "expert opinions" about the metals market. Those Cash-4-Gold stores will start to close because no one will want to part with their gold. THAT'S when you know the bubble is about to pop. We are nowhere near that point.
 
2012-09-08 11:01:41 PM

Atomic Spunk: Late last year into early this year, I kept reading plenty of people posting here that the gold bubble was ready to pop and the price would be sub-$1,000 in a few short months. Of course they turned out to be dead wrong. Thankfully, the idiots who think Glenn Beck influences the price of gold and think that everyone who loves gold are whacked out end-timers have crawled back into their caves..


How you doing AS? You're right the have gone back to their caves. I still love to read what new comers have to say though, good for a laugh.
 
2012-09-08 11:56:58 PM

nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").


Printing money would have been quantitative easing, not the stimulus. Get your moronic talking points straight, moron.
 
2012-09-09 12:16:15 AM

Smackledorfer: And before anyone tries to justify gold's price: there are more useful metals that should be worth more.


I'm waiting for the credit-card marketing departments to figure out that "platinum" is now a lower tier than "gold".
 
2012-09-09 12:49:02 AM

thurstonxhowell: nmemkha: Its a counter to the devaluation of currencies due to stimulus (i.e. "printing money").

Printing money would have been quantitative easing, not the stimulus. Get your moronic talking points straight, moron.


As someone pointed out earlier, it is the perception of devaluation jackass. I may have been wrong, but you're an asshole.
 
2012-09-09 03:38:26 AM

pmdgrwr:
How you doing AS? You're right the have gone back to their caves. I still love to read what new comers have to say though, good for a laugh.


Hey pmdgrwr, I'm doing great, and im glad that gold is starting to breakout! Next week we have a FOMC meeting, and the German courts will rule on the constitutionality of some of the Eurozone bailout vehicles, which may very well determine the fate of the Euro. By next week Friday, we could be seeing gold over $1,850 or under $1,600. I'm pretty sure it will be another strong pivot point this upcoming week.
 
2012-09-09 03:47:52 AM

Smackledorfer: ImpendingCynic: Smackledorfer: On the other hand, some of the demand is due to the sheep mentality, because of "runaway inflation" and "impending financial meltdown." So, if gold is going to be so valuable, why are you selling it now, at a lower price, in exchange for the cash that's soon to be worthless? The best time to buy gold is when the economy is humming ($250/oz in the early 2000s), not when it's hurting ($1800/oz today).

Who said I'm selling gold now, and what the hell are you talking about wrt cash becoming worthless?

I wasn't referring to you personally, I was referring to the people pushing gold. They tell you that you better buy gold now before money becomes worthless, because gold will be the only thing that has value.

Ah yes. And then bonus they sell gold coins to the rubes too. Pure profit.


www.kickswall.com
 
2012-09-09 05:50:00 AM
I don't care if it's gold or gummy bears. If I think it's going to go up I want a piece of it. I got it what I would consider late in the game as far as gold goes but have still made 17% on my money. Hard to argue with double digit returns
 
2012-09-09 03:16:37 PM
Anyone who doesn't have gold in their portfolio is a fool.

All the dumbasses out there who still think gold is in a bubble are being destroyed by inflation with every passing day.

On the good side, these muppets are useful idiots who help to keep the price of PMs low for the rest of us to back the truck up. Thanks!
 
2012-09-09 08:36:35 PM
I sold a lot of 1oz .999 silver and gold coins (grandfather's estate) a few months back. No one in my family is a survivalist nutjob and we were more than willing to sell the coins so grandma could have a bit more sane of an investment.

Took the 5000 (roughly) and invested in NASDAQ stocks with high dividend payouts for grandma. She gets money. I got a steak dinner and a good 3 dozen positive feedbacks on my ebay page out of the deal.

If someone can make money in precious metals, more power to 'em, but that's not my game.
 
2012-09-10 08:38:58 AM
Personally, I'd ignore investing in gold, and instead invest in companies that extract gold, and can extract it profitably even if gold took a 55% tumble in price (percentage pulled out of ass). That way, if a gold rally lasts, the extractors are making money hand over fist. If it crashes, they're still making profits, and if they've reinvested their profits intelligently, they should still be well off while further laying ground works for longer term investing (gold will rise again, at some point in the future).
 
2012-09-10 09:48:55 AM

Modguy: Personally, I'd ignore investing in gold, and instead invest in companies that extract gold, and can extract it profitably even if gold took a 55% tumble in price (percentage pulled out of ass). That way, if a gold rally lasts, the extractors are making money hand over fist. If it crashes, they're still making profits, and if they've reinvested their profits intelligently, they should still be well off while further laying ground works for longer term investing (gold will rise again, at some point in the future).


Especially true since gold stocks, especially junior mining companies are extremely undervalued right now. The profit takers took everything last year and some fundamentally strong companies are showing good prices. It's a buyers market.
 
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