Precious Metals
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They charge you duty on excessive jewelry, expensive watches and handbags ect. That used to be a good way to carry wealth without declaring it before the caught on
Are you saying that you think gold will be demonetized?
Contrarily I’ve started to view gold as a global money. No matter where you go in the world with gold you can easily exchange it for local currency or goods/services outright. It’s been like that for thousands of years and will continue, even if they outlawed it.
Yes, but I won't derail the thread. You can easily find my point of view elsewhere. I don't think it will, by the way, I know it will. People will still like it for jewelry and a few applications, though. As far as money goes, we've already discovered something better. Central banks or sovereigns will keep buying gold though for the time being, you just don't have as much time as you think you do, is all I'm saying.
You would have a very hard time convincing me of that.
Silver hit a 5-year high today, even beating the silver-squeeze peak a few years back. Still, the new Chinese exchange is trading at dollars higher:
Caduceus
Heritage
Back in the years 2011 to 2013 silver traded at almost 50 US Dollars per troy ounce.
People who bought silver more than 10 years ago are still waiting to just break even.
As much as I like silver, 90% of the time it really has terrible returns even if you wait entire decades to cash in.
This is the move that confirms the inflation that they've denied for a long time.
The world will go to higher and higher levels of inflation until something gives, which usually is coincident with larger scale war.
Metals are up a lot this AM.
Here's a short summary from Eric Sprott noting how Gold Miner stocks have a history of correlation to Silver pricing, moreso than actual gold. Sprott claims the mining stock "horses are still in the barn" and have a long way to go.
Article was written 2 days ago:
Here's a short summary from Eric Sprott noting how Gold Miner stocks have a history of correlation to Silver pricing, moreso than actual gold. Sprott claims the mining stock "horses are still in the barn" and have a long way to go.
Article was written 2 days ago:
Gold closed the week at an all time high: $2414.50 per ounce
Silver closed the week at a 13-yr high: $31.49 per ounce
Still, the Shanghai exchange is trading at roughly 10% higher than the US exchange.
Miners have been lagging but are starting to catch up. For now, only gold/silver bugs are paying attention.
Silver closed the week at a 13-yr high: $31.49 per ounce
Still, the Shanghai exchange is trading at roughly 10% higher than the US exchange.
Miners have been lagging but are starting to catch up. For now, only gold/silver bugs are paying attention.
That is amazing how expensive silver has now become.
Lucky I got most of my silver bars after that peak had happened
An explanation of that peak from 2011 is here -
The current rally in the silver price started 3 months ago, February 2024. What happened then I wonder to set silver on that course. Gold price is related to how peaceful or politically unstable the world is, more unstable, more expensive gold is, but not sure if silver has quite the same driver. Silver has more real world uses than gold, so it is linked to industrial demand more, not just to investor demand.
Gold took a tumble today with the news that china didn’t report any buying last month. I wonder if they are just trying waiting/drive the price down or if it could be ominous of something bigger.
Unfortunately I don't think it will go down again until there is peace in the world. It's probably overall a sign of health in the world when it gets cheaper, ie moving away from the risk of WW3.
From 2015 - 2018 it was cheap. Well, about US$1100 per ounce. Happy I bought some then but wish I'd bought more. It's currently almost US$2300 (omg that's crazy..)
It's 'ominous' the higher it goes, an 'ominous' sign of end times, we could relax a bit if it would go back down again (and if it goes down enough, consider going and getting some). Not going to be much point having bought some at the current high prices if it has to go up much higher than it currently is it will be mushroom clouds.
Great points. Same with BTC as I have said, we win in one way as things get crazier, lose in another ...
A friend of mine owned gold bars. He sold it because it was messing with his head. You want the world to get worse to get more profits.
Caduceus
Heritage
That's the wrong mindset.
One should not buy gold to get profits, but rather to ensure your savings do not become worthless through inflation.
For profits invest in something else.
China has been buying tons of gold to prepare for something. Now they stopped. Did they stop because they are ready for whatever they were preparing for?
Caduceus
Heritage
It's only really a "stop" if they do not buy any more for years.
Also, they may be waiting for the price to go down before buying again.
Wouldn't you do the same ?
He bought right before the 2008 crisis. And sold after with a huge profit. He was like a madman telling everybody to buy it. He convinced his parents to sell real estate to buy gold. One of times I was with him. He said real estate. This was in 2018/19 I think.
Silver is probably better than gold. There´s a video of a bitcoin fan in SA. Converting money to goods. Bitcoin was the worse I think. For me the best would be to own real estate in several countries. I´ve started the process a while ago but never completed. Which was a mistake. It will make my tax income statement more complex.
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Exactly. The real value of gold DOES NOT CHANGE over time. Other commodities and currencies only change in value in relation to gold.
Evidence: an iPhone in 2014 coat the same amount of physical gold as an iPhone in 2024.