The future of gold

Discussion in 'Gold' started by mmm....shiney!, Dec 31, 2017.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I’ve written off any notion that silver will have a function to play as a currency in the future. In my opinion it’s value will be reserved for industrial or cosmetic purposes. I’m now having doubts about gold. In fact I am giving some thought to a fall in value for the precious metal which I love so much. Ie no future as a store of value or an asset to make my retirement more comfortable and make me rich.

    There are a number of reasons for my thinking, curious to hear other’s ideas.
     
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  2. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    I agree, Silver will go the way of Aluminium as PM, not relevant. Cannot see silver ever coming back as money besides a nuclear holocust making reliable electricity world wide difficult. Besides as phyical currency, it is too unwieldy and not worth a lot.

    If we start talking gold backed currency what would be the benefit of that in the modern era. However gold will always have a draw card aka scarcity and desirability to have it, as jewellery.

    You can’t discount that as more people get richer more people will want it, and just that alone will hold its price.

    Just look at lipstick made from petroleum $10 to $100 which is coloured Vaseline and with the invent of artificial diamonds what value does either have other than want.

    The one caveat though, once we start mining mid ocean rift there will be so much gold we could make dishes with it and the average well of could afford it.
     
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  3. Peter

    Peter Well-Known Member

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    The Chinese and Russian governments are buying lots of gold.
    They are not fools.
     
  4. DrSilver

    DrSilver Member

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    I agree Russia and China have had a longstanding plan that involves gold and other governments including Germany have made great efforts to repatriate their gold. Remember in 2011 Silver charts were beginning to look a bit like crypto charts as Silver hit the high $40 range. JP Morgan were in trouble due to their incredible short position that would have seen them out of pocket billions of dollars. Since that time they have gradually unwound that position and now hold around 650 million Oz physical silver. I can’t see China/Russia and JP Morgan losing in the upcoming financial crisis.
     
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  5. leo25

    leo25 Well-Known Member Silver Stacker

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    Funny how people have been thinking this for a good hundred years, yet gold still remains important. Don't really know why, but rather just an observation.

    I don't see gold ever going away, no more then saying people will lose the desire for sex. It's hardwired into most of us. I guess there are even some people who don't like sex.
     
    Last edited: Jan 1, 2018
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  6. l***g

    l***g Active Member Silver Stacker

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    LOL No it's not.
     
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  7. willrocks

    willrocks Well-Known Member Silver Stacker

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    I remember the Aust gov selling gold at very close to the absolute low. Are they fools?

    Most people working in government are either numpties or have self-serving motives.
     
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  8. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    As long as they (reserve) got more value than holding it in absolute terms.
     
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  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    They would have spent it. So the “value” would have been destroyed.
     
  10. jerrygold

    jerrygold Active Member Silver Stacker

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    33 million tonnes of aluminium produced each year vs 25000 tonnes of silver. Silver will likely always be relevant because it has been known as a physical currency.
     
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  11. leo25

    leo25 Well-Known Member Silver Stacker

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    So you or your wife/husband own no gold jewellery?
     
  12. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    sooner or little later silver to the moon baby!
     
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  13. Alee

    Alee New Member

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  14. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Aluminium was not so long ago the most expensive metal once in the world. Royalty used aluminium cutlery and their guest gold :)
     
  15. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Still better value than had they borrowed it and we would be paying interest.
     
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  16. l***g

    l***g Active Member Silver Stacker

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    They also own silver jewellery. What's your point again?
     
  17. leo25

    leo25 Well-Known Member Silver Stacker

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    My point is almost everyone finds gold appealing and willing to pay good money for it. (so it's hardwired/ Intrinsic desire) This then goes into the free will theory.

    If you spend a lot of money on something, there has to be a reason. Silver is cheap so doesn't count.

    So either you are a very easily influenced person or there is something you find appealing about it (known or unknown) in order to spend a decent amount on. Which one is it?
     
    Last edited: Jan 1, 2018
  18. ozcopper

    ozcopper Administrator Staff Member

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    I love how everyone thinks silver does not count and is unimportant... It's very bullish!
     
  19. jerrygold

    jerrygold Active Member Silver Stacker

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    Because it was rare then. Silver continues to be relatively rare and shiny.
     
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  20. leo25

    leo25 Well-Known Member Silver Stacker

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    And how long did that last... :rolleyes: Intrinsic desire fixed that up quick.
     
    Last edited: Jan 1, 2018

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