This is an interesting concept I haven't really thought about... but WTF would you value gold against base metals? Yep, no disconnect.
Its Interesting to have a non Comex counter view against the trend...... however the author Ric is a former RBA economist and permanent Gold bear. Ahh Poor Ric.... he still clings to the faith of the declining value of Gold and still hasn't learnt his lesson from his previous mistakes. Back in 1997 he was directly part of the team that decided to sell off 167 tonnes of our Gold reserves. A decision which has been estimated to have cost us $5 billion dollars if we sold that at todays prices in the $1400s. http://www.miningindaba.com/speakers/ric-deverell/#.UZYhIrWnq24
" ... Gold, down 17 percent since January, is poised to lose 20 percent in a year as inflation fails to accelerate and with the worst risks to the global economy waning, Credit Suisse Group AG said. ... " Cricky - someone should check their stats. No sign of inflation abating one iota in Europe and we haven't woken up to the fact that most of the Western world, excluding perhaps Germany, Switzerland, Norway to list a few, are technically bankrupt and doing very little to reduce their growing National Debts. True, austerity is cutting the overspend a bit but the real monster is still lurking in the cupboard and not many politicians are brave enough to debate this topic. The Titanic is still steaming ahead on its course.
its probably worth about $700 an ounce AUD... but i think a wiser man than me once said The market can stay irrational longer than you can stay solvent good luck
Inflation will typically happen as soon as economy 'recovers', with the recovery measured as 'more spending'. And then the crisis will be right back, worsening upon every such cycle. Not that I care much, I got out of a bank account/fiatmoney. I see lower prices just as more silver (my case) for the newly earnt fiat. I didn't care about $50 too. I waited for the early $30 to revisit, then $27, and earlier this year $29. Sometimes I wonder about all those forecasts. Hey, who decides if we sell our gold or silver at those lower prices? Not them. We.
I've said it many times already on this site......IF Obama raises the DEBT CEILING or removes it alltogether their WILL be a MAJOR pm correction for many years ahead...... The printing will just go on and on and on just like Japan has done for 20years..... Pms will not be the safehaven they once were.....Real Estate on the other hand???....Now thats a whole different story which we all discuss in the proper area on this site.
This number is a bit out of nowhere. Some miners have costs above $1,100 an once. Of course that does not guarantee anything as others have lower costs. But it maybe it can provide some sort of guidance? In the end, it's all so uncertain.
Once upon a time, oil sold for $20 a barrel, and The Economist magazine ran a cover story explaining why petroleum prices were set to go much lower. The US Department of Energy and International Energy Agency were forecasting that, by 2010, oil would probably still be selling for $20 a barrel, but they also considered highly pessimistic scenarios in which the price could rise as high as $30. Where would gold be 5 years from now?
five years from now, on May 18, 2018 gold will be $456.56 at day's close. Don't buy gold then, wait for the date June 29th, 2019 - gold will be $385.92 - that's where you buy and hold for 15 years - then you can sell it for 735.57 on September 12th, 2034. SO, should I go to CNBC, MSM,Business Week and alike to publish this prediction?
Hey TheEnd; Can you explain to me why you think real estate will be different? And any qualifiers e.g. different where (country, suburbia vs. farm land) and why? ------------------------------ Only 6 months ago, most of these same banksters were issuing statements predicting gold and silver doing record highs in 2013. Google for yourself, it is all there. Where else would I put my money? In the most over-valued property market in the world? In a stock money pumped full of funny money, doing record highs with no underlying growth? In the bank with tax on interest, fees, counter party risk? No thanks. These fuckers have no idea. Ill stack alcohol, dunny paper and firewood before I stop stacking. Real stuff, you can put your hands on - that is the name of the game.
Yeah, that's precisely the issue at hand. No great other local option :/ if our RE market had just had a massive correction, I would probably consider things differently, but as we stand, RE is too much of a risky game for my liking despite Oz being "different here"...
Pretty much what Phiber just said.... If PMs do crash their wont be much left to invest in and at least with RE you can always rent it out and claim neg gearing etc...... Though I still think there will be a RE correction also within a few years.... It all depends on so many variables now, the future is VERY uncertain indeed. p.s I do think farmland is viable as food is always going to be required....As long as you can sell your produce for a profit though???
I've been in two minds for months now Phiber...And the way it's going I think I will wait until the end of the year before re-stacking.... I now want to see what Obama does with the debt ceiling and see what PM's do after his decision....In the meantime I only have the stock market to invest in really as I cannot afford RE....Or just earn 3% in a bank account and get taxed on that.... Am also waiting for some shares to mature this year beofre cashing them in.
I do think GLD (paper) gold will go under, however, will we actually able to buy physical is another unknown. Will we need to pay another 1000 bucks to get the real physical gold when spot is 1000 (below cost)?
Sorry, my common sense (also known as the 6th human sense, not available to all humans) prevented me reading beyond this paragraph.
Dont believe everything you read, you should all make your own judgements. There will all be people for and against. I do believe Gold and silver will fall more but dont think it will be anywhere near the time period they are giving
