Raises the middle finger to the last couple of days of stupid MSM commentary doesn't it. Shove that up your arse Mr Debelle :lol:
In the video embedded the SMH article at ~5:35 the guy says: "we are closer to an end of quantitative easing closer to the end of gold's magnified role as an incorruptible shadow currency when QE was devaluing currencies. Markets will shift before the shift occurs and arguably they now have" But the physical market is going crazy. Who is "the market"?
Love that photo of the queue at Australian Bullion Company! Funny that MSM seems to want to dismiss gold and trivialise the 'rush' to physical. Ideally though, if we are on the bull run, we *should* be seeing reports like this -- mainstream punters 'rushing' to buy, not SS tinfoilers in despair over losses? Anyway, I see no long-term reason to stop buying, even if my net worth took a direct hit.
Dunno, but whoever it is they're going to get a nasty shock when the interest bill from all that QE comes due.
From the comment section: he he he... Why would you line up for hours when you can just click a few buttons?
Poor old silver didn't even get a mention. Oh well the less people who know, the better. I'm surprised a few people I know (who weren't into PMs) have told me they're buying gold. At the very least all this exposure has brought in quite a few new stackers.
Because some of them are buying tens of thousands worth, so they need to do ID checks ... etc. Most in the line probably don't have accounts.
Do you need to show ID for transactions less than $10000. ? I always thought you got people collecting in person so they could make CASH transactions .... and avoid a paper trail.
I believe dealers are required by law to record ID for all transactions $5k and over - online or in person.
Yep, thats why i dont have an account the less people that know the better. It also feels better handing my dirty fiat over for the cold hard stuff!
I don't know, it's a bit disconcerting. The gold rush is supposed to be when prices are rising, not falling. Bottoms occur where there is despair, not enthusiasm for low prices. At least as far as I know from my limited time in the markets....
If all this buying is only getting the price up by a few points, who is going to do all the buying to get it up to 3000 or beyond? That's the question I'm asking. Lows should only have the hardcore holding.
Might take a while for it to flow through to the paper price of gold. Retailers have to order and take delivery of more bullion, wholesalers the same and the manufactures have to order more metal once they have run down stock and up the food chain to affect the paper price. Meanwhile paper traders will continue to lean on the price.
Tuck it away and forget about it people. I dont even bother reading news headlines anymore. I suspect it will have to settle a little more yet, but so what your not selling.
