What a funny world we live in! lol "The negative carry on gold is actually smaller than the negative carry on say the euro or some of the other currencies," he said. "It is more expensive to carry euros then it is to carry gold and that in itself is a good reason to buy gold."
it all depends on how long you are holding them. Eu holding fee 0.005- depreciating ac year for the first year, and hyperinflation for the far future years. for gold, you get hit by ask bid spread, then forgone any opportunity cost that is getting smaller far into the future with the risk that gold can be kidnap BUY more what is performing better. and chop off all bad investment.
One should be brave to buy gold, considering how big the stocks of governments are. During 2010 - 2015 they added 2820 tonnes. The gold price, in USD: 2010 1224.53 2011 1571.52 2012 1668.98 2013 1411.23 2014 1266.40 2015 1160.06 We're now back to 2010's price level. What would the gold price have been, without central banks "supporting" its price? Well, if they cease that support, and instead even start to do the opposite, wel lol, hello $700?
Geez. I don't understand why someone with such a negative outlook for gold would still be here on a daily basis instead of offloading and departing before "disaster" strikes. It's amazing how the same group of regulars can turn any and every bit of positive info on gold and silver into a negative. It happens in many a thread, notice that?
I don't have an ounce gold. I never had an ounce gold. For aboves reason. About negative outlook: 1970 35.94 1971 40.80 1972 58.16 1973 97.32 1974 159.26 1975 161.02 1976 124.84 1977 147.71 1978 193.22 1979 306.68 1980 612.56 1981 460.03 1982 375.67 1983 424.35 1984 360.48 1985 317.26 1986 367.66 1987 446.46 1988 436.94 1989 381.44 1990 383.51 1991 362.11 1992 343.82 1993 359.77 1994 384.00 1995 384.17 1996 387.77 1997 330.98 1998 294.24 1999 278.88 2000 279.11 2001 271.04 2002 309.73 2003 363.38 2004 409.72 2005 444.74 2006 603.46 2007 695.39 2008 871.96 2009 972.35 2010 1224.53 2011 1571.52 2012 1668.98 2013 1411.23 2014 1266.40 2015 1160.06 What is the outlook here? The price of a house may have doubled between 2000 and 2010. If we'd say okay gold doubles too, then Do you really expect the gold price too then $600 is a price that would not be... special. It's now nearly double that. If one does all the best he can, to find a POSITIVE outlook, tell me what elements you see, for that?
After that response I seriously wonder WTF you're doing here. Piroccco has no gold. I am very wary of someone who is so active with over 4500 posts on a precious metals site but who does not own any. (Perhaps here you were being clever by specifically saying "gold" and omitting any possible silver holdings ???? But even though silver may potentially go up much more than gold, they are both monetary metals and will in all likelihood move in essentially the same direction, so if your gold outlook is so negative so too would your silver outlook be.) Why so active, and be so knowledgeable, on a site which discusses an investment you have little interest or huge pessimism in? Btw, let's use your example of house prices: my mother bought her house in 1970 for $12,000 and today it's worth $1.2m. That's a 100 x increase. 100 x $35 = USD $3,500 And that ignores the formerly (before blatant price suppression) direct link between gold price and the available currency supply.
Far better to play the ball than the man we all have a right to be here, so many experts are drips under pressure we can all learn from others if we have a mind to. This isn't Pokemon go were looking at.
I do own precious metals, ment as savings on long term, just that I chosed to avoid gold from the beginning, and only bought silver, first time feb 2011, when USD spot was $32, then a couple times more later that year, at and under that $32, and continued in the subsequent years, at steadily lower prices. In the process, I learnt myself some understanding of these specific and general markets, and collected historical data (all something I've should have done before I decided to buy silver). I am not "knowledgeable" in this matter at all, just that I'm not that stupid that I would be unable to recognize relations / mechanisms / relevances. There IS a price relation between gold and silver, but within the last half century it varied between 14 and 94. That's a multiply by 7. Matters. About your "blatant price suppression", that's when governments sell. One can't sell without buying (or by force taking) it from the market first. So ahead of a big government stockpile, there was "blatant price bloating". And as shown, since 2011 there was such "blatant price bloating". And whatever you name it, like it or not, that's how things are, that's what governments do. Thinking them away won't deliver you more dollars for your precious gold. Just a btw too!
I have slowly come round to the view, after many years, to do roughly the opposite of what everybody else does and tells me to do, especially in the media, who are so slow they tend to be right at the death of any cycle...
Pretty much this, if the media (read: vested interests) are telling you to do something then odds are good that you should probably do the opposite. Especially when you have people like Jean Claude "When time are tough you have to lie" Junker in charge... :lol:
