http://www.smh.com.au/money/investing/still-lots-of-reasons-to-hold-gold-20131219-2zm45.html The market price of gold might have fallen during the year but hoarding of the precious metal by individuals and central banks is approaching record levels. In trading terms, it has been a tough year for the yellow metal. The price has fallen 28 per cent in 12 months. But the fundamentals, characteristics and attractions of gold are undiminished because we are in times of extreme intervention by governments, the outcome of which is completely unknown....
Didn't you know, Bitcoin has made gold ownership obsolete. Kind of like what email did to snail mail.
...and the best reason is: because your can get it cheaper! I still wonder how deep the bottom will be. We're already sub-production costs.
I am in Bangkok now, was in Chinatown today and I was planning on ducking into one of the gold dealers. There were that many people in there it was crazy. Two deep in places all along the counter. Went past a couple of places and it was the same. I was thinking maybe bus loads of Chinese tourists? Or if it was Thais they are certainly looking not sure if they were buying. Certainly a lot of interest in gold here by the look of it.
Sarcasm smiley I hope. It's interesting snail mail is alive and kicking, although I must say the best service delivery is from the private contractors like Toll and Star Track Express - BUT NOT FROM FASTWAY!!!!!! Auspost is slightly better than Fastway. USPS Interantional is shite. Strap your parcel to a goldfish and toss it in the Atlantic and hope it arrives FFS! Sure, it does eventually, fkn fish dies, floats down to the Antarctic circle then some dumb Greenpeace vessel picks it up and carries it to fkn Oz, 4 fkn weeks later. Stupid goldfish. Should this be in "Rant of the Day?". Explanatory note: I've been in 24 /7 chat with Telstra about my mobile bill for about 45 mins. :|
Not below production costs for most mines. Considering gold has only been above $1200 for 3 plus years, I am not sure why people don't understand that production costs can go down. Suppliers are being squeezed by the mining companies to lower costs. Lower pm prices should ease the demand for geologists, etc. and lead to lower wage prices. It will be interesting to see which CEO and Presidents of the pm companies can manage the lower prices and keep their companies afloat. This downturn will eliminate most of the mining companies that shouldn't be in business. The strong companies will survive and thrive.
Just had a nice dinner and my daily foot massage actually (I love foot massages), these places you speak of Soi cowboy and Pat Pong they sell gold there? I thought China Town was the place to go.... I will have to check them out.
Yeah right ! Okay if you are buying gold today but check the 28% drop if you bought a year ago. The fundamentals were pretty much unchanged and the recommendation a year ago was to buy gold for wealth protection. A drop of 28% doesn't back up the wise advice at the time does it ? Fiat in the bank would have not lost anything and regular stocks & shares rose by about 28% over the same period.
Buy low, sell high same applies in all markets. If your comparing cash to bullion at these low prices your either hurting because you brought in high or your a banana. Banana's, bullion and digital currency will be here when cash is trash. Like soonish
:lol: Still waiting for my USPS "Priority" international (been weeks ). Shame Mises.org use them (not sure what the alternatives are/cost, however).
There have been many stackers who bought bullion at low prices, only to find that those low prices weren't so low after all. If you are not comparing cash to bullion at every price, you are investing based upon ideology. Ideological investing rarely ends well.
