Aussie Gold Drops Below $2500

Discussion in 'Gold' started by ozcopper, Jun 3, 2020.

  1. ozcopper

    ozcopper Administrator Staff Member

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    Aussie Gold Drops Below $2500. It's been a little while since we had $24XX gold. It's all the rise in the Aussie dollar.

    [​IMG]
     
  2. hardyakkagold

    hardyakkagold Active Member

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    Not cool bro!
    I had put in some $10k in action bids a few weeks ago when the gold price was much higher, for an auction that is ending soon.
    Some of those gold coins are looking a bit overbought now, although the silver ones are still ok.
    Luckily the banksters have come to my rescue again.
    Just got a letter in the mail from Westpac offering 0% balance transfer for 6 months with NO balance transfer fee.
    So, I will pay for my purchases with my woollies credit card to receive the free gift card, then transfer the balance over to
    the Westpac one for 6 months.
    Luckily the auction place does not charge a surcharge for paying by credit card like most do.
     
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  3. OneDay

    OneDay Active Member

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    Its not the AUD that is strong.

    Its the USD that is weakening.
     
  4. Jason1

    Jason1 Well-Known Member

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    Ouch that would hurt those who cashed in super in april to buy gold.
    especially when they Sold super when markets were at a very low period and bought gold at record high AUD.
    A Double hit on that decision for those guys. Sold low to buy high.
     
    Last edited: Jun 3, 2020
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  5. serial

    serial Well-Known Member Silver Stacker

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    Except that it will be short lived, gold will continue to be a safe haven for wealth
     
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  6. ozcopper

    ozcopper Administrator Staff Member

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    Was overdue a 10% correction.
     
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  7. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    There was a person on the forum that said buy the dip. :D
     
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  8. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    Why was the leper the life of the party ?




















    Because they used him for cheese dip :eek:
    Was it the same person ?
    :p
     
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  9. Ag bullet

    Ag bullet Well-Known Member

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    Don't care. I took the exceedingly rare opportunity to access MY super while THEY let me.

    I'm holding it until I would have accessed my super in 30 years time. (If I they let me then)
    A lot can happen in the meantime.

    Bring on round 2 of covid super at these prices.....
     
  10. madaw1

    madaw1 Well-Known Member

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    Time to buy again...
     
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  11. lunar

    lunar Member

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    Probably, yes. The Chinese frantically buying AUD will realise soon enough the reasons why AUD was tanking pre-Covid.

    I would have done the same. Not for gold, instead to invest my savings how I want to invest my savings.
     
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  12. Ag bullet

    Ag bullet Well-Known Member

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    well gold is how i wanted to invest my savings.
     
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  13. hardyakkagold

    hardyakkagold Active Member

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    It seems that no one with money to spend is taking too much notice of the current drop in gold prices down to bellow $2500.
    (Except for probably some of the tight arses on this forum;))

    I can report that bidding was very brisk on all the gold lots at this evenings auction.

    I only managed to get a couple of gold coins, despite bidding on more than 20.

    The half sovereigns were on fire, with the cheapest going for about $420 with commission!
    .
    The sovereigns went nearly as well, with even the dark dogs bringing in close to $700 with commission.

    The silver coins are also selling at their strongest prices since silver was over $30 per ounce, which was many years ago.

    I noticed this also at last months Downies sale, that some stuff is selling for higher prices than on eBay!

    I dont quite know where all this new money is coming from? Surely it can't all be from people accessing early supper?

    And take no notice of the naysayers who take great pleasure when the price drops saying I told you so.

    I would rather have $100k in gold and silver, than twice as much in paper or digital assets which will evaporate to next
    to nothing in the coming world economic crisis.

    For those of you who think that the worst of the economic crisis is over I got news for you, stick around for a few years
    because you ain't seen nuttin yet!
     
    Last edited: Jun 3, 2020
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  14. ozcopper

    ozcopper Administrator Staff Member

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    Where was the auction?
     
  15. hardyakkagold

    hardyakkagold Active Member

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    I am not going to state that publicly on here ozcopper, as I don't need any more competition than what I have already.

    But anyone doing a bit of basic research can find out for themselves quite easily.
     
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  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The AUD is also gaining strong against SGD, up almost 10% in just over a month.
     
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  17. OneDay

    OneDay Active Member

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    The idea of how Singapore will cope during a massive finacial crisis is a concern. (I guess every where is).

    A city state island with no food security and limited water security.

    Its a financial hub. Take away the financial part. Whats left?
     
  18. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Does it have the potential to gain as a financial centre if faith in the sovereignty of Hong Kong is lost?
     
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  19. OneDay

    OneDay Active Member

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    Not with how strong this financial storm seams to be heading to.

    The global economy is in quick sand and its fighting harder to keep its head up.
     
    Last edited: Jun 3, 2020
  20. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Maybe then they manage slightly less financial devastation in comparison to Hong Kong.
     

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