Gold Just Hit AU$2,000

Discussion in 'Gold' started by GoldenEye, Jun 20, 2019.

  1. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Theres no explanations that would make any sense! That's the sad part! Hehe
     
  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Conspiracies make better movies.
     
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  3. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    [​IMG]
     
  4. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I've posted this elsewhere but the message is still relevant.

    conspiracy.JPG
     
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  5. prospect

    prospect Active Member

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    In the past, I did contemplate selling part of my gold stack when it reached $2k and paying off the mortgage.
    But, now that I am in that position I have decided to hold out for another 3 years before doing that.
    My reasoning is that mortgage interest rates are very low and going lower, so to hold the mortgage for another
    3 years will only cost me about 10%, which in percentage terms is less than where the gold price was at the start of the year.
    So its a no brainer really as the gold price is increasing and expected to peak according to some in about 2022/23.
     
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  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Question, given a choice, cash deposit/Govt bonds (sgd/usd) vs silver. No loans. Gold and silver same ratio and will be maintained. Will you buy some more silver at $15.36 or leave the cash in the bank to earn the 2% interest?
     
    Last edited: Jul 4, 2019
  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    You'll lose more than you gain with inflation. Maybe if it was 10 percent.
     
  8. alor

    alor Well-Known Member Silver Stacker

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    people who retired, some may want to earn that 2%
    some people who hold metals can slowly sell and pay for expenses
    metals can be expensive for some people to hold, as they do not have sufficient cash/asset/metals etc
    buying silver, you pay for premium and later sell them for spot

    well retire people who collect rental income is better off, they can buy metals
    other expenses can be covered from their rental income etc
     
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  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Agree if status quo remains, but what happens if an Asian financial crisis hits? We're almost due for one.
     
  10. JulieW

    JulieW Well-Known Member Silver Stacker

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    If there's an Asian crisis Australia is cactus.
     
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  11. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    It only affected people who ran out of money ie bad investment or lost their jobs.
    Most people's life was pretty normal through all the financial crises and for those with money it opened up great opportunities.

    Nevertheless I totally agree that the world is due at least a China Recession within a decade, nothing sinister or due to some conspiracy.
    One has to remember there is nothing special about China compared to Korean, Taiwanese or Japanese development.
    All had double digit growth out of poverty and each had multiple recessions as they transitioned from agrarian economy to low skill/low wage to a developed high tech/services economy.

    Lets not forget... in the 60's Jap Crap, the 80's Korean Nike rip offs and Taiwanese junk of 90's but look at them now.
     
    Last edited: Jul 4, 2019
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    97, I was already working part-time in Singapore and Indonesia, and to be honest it wasn't bad in Singapore because the tech export sector is still doing well - dot com boom era. However, the property price collapse caught the wealthy and property flippers by surprise so quite a couple of property developers went bankrupt and dragged down the banks. Singapore Inc. had enough resources to bailout the banks of their bad loans quietly so it's really business as usual for most people. I would assume the same if another financial crisis hits.

    In Indonesia, some people lost money when banks folded and owners absconded overseas, but most Indonesians were poor at that time with high unemployment even before the financial crisis, and it's not difficult for poor people to get used to even more poverty, e.g. venezuela.
     
    Last edited: Jul 4, 2019
  13. alor

    alor Well-Known Member Silver Stacker

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  14. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Also lets not forget, unless there is WW3....

    Australia is going to have a China led mineral BOOM like nothing else we have seen before, maybe 100 times larger, when the average Chinese families in the "cities and rural" China can all afford a car or two, all the white goods they want, AC and toys we take for granted.
     
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  15. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Global trade enhances prosperity. Adam Smith pointed it out 200 years ago.
     
  16. JulieW

    JulieW Well-Known Member Silver Stacker

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  17. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    There ya go....US trading opens and gold drop USD15.00 in 5 seconds.
     
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  18. whay

    whay Well-Known Member

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    Yipppeeeeeeeee.............................
    Freefall.jpg
     
  19. JOHNLGALT

    JOHNLGALT Well-Known Member

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    "There ya go....US trading opens and gold drop USD15.00 in 5 seconds."

    NOPE, my stack didn't drop even .00001% because I measure my stack in Ounces & kilograms not paper with numbers on it.
     
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  20. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    I think understand your position on how and why you place a non-monetary value on your PM's, however market value must play a factor in what you buy and when?
     
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