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Gold strategy in the current economy


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#1 Lepista

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Posted 19 July 2011 - 08:59 AM

It has now hit the main headlines on the BBC business page - surely this now deserves merit to be discussed in the main page of HPC? After all, I'd like to think that we are "ahead of the curve"..

Gold price climbs to new record on debt uncertainty

The price of gold has hit a new record price of $1,610 an ounce as debt worries in the US and Europe have intensified.

It climbed above $1,600 for the first time on Monday, capping a record-breaking rally of 11 days of gains.

Gold is considered a safe investment and usually gains at times of global economic uncertainty.

Silver also continued to climb, to above $40 an ounce, its highest price for two months.

"Gold hit another milestone... at $1,600 as investors lose confidence in the ability of politicians to get a grip with the debt problems weighing down on sentiment," said Michael Hewson from CMC Markets, a trading group.

"More advances look likely," he said.

The record breaking price comes ahead of Thursday's summit of eurozone leaders in Brussels where they will once again try to contain the growing debt crisis.

Investors are concerned that Greece may default on its debt, and countries such as Italy and Spain, who are also struggling with high debt levels, will get pulled into the crisis.

US default?

Meanwhile in the US politicians are struggling to reach an agreement on a deficit reduction plan in time to avoid a debt default before the deadline of 2 August.


Gold price reaches new high on eurozone debt fears
Nicholas Brooks, the head of investment strategy at ETF Securities, told the BBC investors were worried about the US economy.

"I think the concern is that if we see another round of so called quantitative easing, it's basically de-basing the US dollar. It's putting new dollars into the system and that of course makes investors concerned about holding on to US dollars.

"When they look at the alternative, the euro and the issues that are now affecting the euro, they look for alternatives and gold of course is one of the first places they go, along with other so-called hard commodities," he said.


Mixed signals here - on the one hand they are flying the warning flag, saying "prices are higher than they have ever been before", but then almost in the same breath saying that the price will go higher, and that it is "considered a safe investment"... Note that they don't put any disclaimer on it - it is therefore "never" an unsafe investment...
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Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig

#2 Bruce Banner

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Posted 19 July 2011 - 09:02 AM

Stand by for the invasion of the messianic goldbugs.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#3 Bloo Loo

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Posted 19 July 2011 - 09:03 AM

my teeth must be worth a mint
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it





#4 hotairmail

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Posted 19 July 2011 - 09:05 AM

my teeth must be worth a mint


the tooth with a hole?


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"The chicken is radiating disorder out into the wider universe."


#5 pezo

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Posted 19 July 2011 - 09:09 AM

I saw them going on about gold prices have gone up consistently for the last 10 years about 3 weeks ago and painting the picture of gold only ever goes up in price. There not wrong but I do recognise the type of "journalism". Do you recon they have all sold their houses and bought gold?

#6 Lepista

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Posted 19 July 2011 - 09:10 AM

Stand by for the invasion of the messianic goldbugs.


Wouldn't it be nice if we could have one, just one, thread on the main page, where people could discuss gold as part of the wider economy...? i think it would stop all this "gold-hijacking" of other threads.
---------------------------------------------------------------------------------------------------------------------

Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig

#7 Bloo Loo

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Posted 19 July 2011 - 09:10 AM

Wouldn't it be nice if we could have one, just one, thread on the main page, where people could discuss gold as part of the wider economy...? i think it would stop all this "gold-hijacking" of other threads.


wot, like we used to have?
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it





#8 Bruce Banner

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Posted 19 July 2011 - 09:16 AM

Wouldn't it be nice if we could have one, just one, thread on the main page, where people could discuss gold as part of the wider economy...? i think it would stop all this "gold-hijacking" of other threads.


I don't agree.

Gold has it's own forum http://www.housepric...hp?showforum=50 , this one is about house prices.

It would be nice if there could be the odd mention of gold in threads in this forum, but as soon as it's mentioned the goldbugs turn up and trash the thread :(.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#9 Lepista

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Posted 19 July 2011 - 09:16 AM

wot, like we used to have?


I couldn't possibly comment.
---------------------------------------------------------------------------------------------------------------------

Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig

#10 MrFlibble

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Posted 19 July 2011 - 09:29 AM

It's a very bland but factual non-committal article from the BBC, shame they cannot write stuff like this about housing instead of resorting to spouting VI rubbish.

News should be simply reported, not interpreted, spun and then reported with bias.

Joe Sixpack having read this article would come away having no idea whether to invest or not, which is exactly how it should be. Every man should be allowed to make up his own mind and not be steered towards making decisions by cretins who have vested interests.
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Norm Franz

In Gold we trust...

#11 Lepista

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Posted 19 July 2011 - 09:29 AM

I don't agree.

Gold has it's own forum http://www.housepric...hp?showforum=50 , this one is about house prices.

It would be nice if there could be the odd mention of gold in threads in this forum, but as soon as it's mentioned the goldbugs turn up and trash the thread :(.


Actually, this one is about house prices and the economy

I agree about the trashing of threads (to an extent) however the anti-gold bugs are often just as guilty of fanning the flames (mentioning no names).

However, wouldn't letting the "bugs" some outlet on the main board relieve the trashing to some extent - there would be an outlet on the main board for them.

Finally, it is useful for visitors and newbies to our site - many, many people will never venture to the other forums, and the HPC forums are only this mauin page. Having a balanced portfolio in the main forum allows people to get an overall view of what peoples opinions are on here.
---------------------------------------------------------------------------------------------------------------------

Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig

#12 Lepista

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Posted 19 July 2011 - 09:31 AM

It's a very bland but factual non-committal article from the BBC, shame they cannot write stuff like this about housing instead of resorting to spouting VI rubbish.

News should be simply reported, not interpreted, spun and then reported with bias.

Joe Sixpack having read this article would come away having no idea whether to invest or not, which is exactly how it should be. Every man should be allowed to make up his own mind and not be steered towards making decisions by cretins who have vested interests.


It's interesting that it's their top business story. Gold has peaked again and agin over the last couple of years.

I guess it's just because it's hit the 1,000 / oz limit that it's "interesting" news.
---------------------------------------------------------------------------------------------------------------------

Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig

#13 Lagarde's Drift

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Posted 19 July 2011 - 09:37 AM

Ahhhh. I did post on the gold sub-forum about my OH asking me if I held any. No wonder, if it's now headlining on the BBC website.

#14 Bruce Banner

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Posted 19 July 2011 - 09:45 AM

I agree about the trashing of threads (to an extent) however the anti-gold bugs are often just as guilty of fanning the flames (mentioning no names).


I agree. They're as bad as each other and the result is that many interesting threads get taken off topic. Best keep it to the gold forum where they can argue to their heart's content without spoiling other peoples' enjoyment of the forums.

It's not as though gold can't be discussed by those that wish to, but some of the goldbugs appear to be on a mission to influence/convert as many guests as possible to their point of view and to do that they post on the main house price forum rather than the gold forum which has less guests viewing.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#15 Lepista

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Posted 19 July 2011 - 09:51 AM

I agree. They're as bad as each other and the result is that many interesting threads get taken off topic. Best keep it to the gold forum where they can argue to their heart's content without spoiling other peoples' enjoyment of the forums.

It's not as though gold can't be discussed by those that wish to, but some of the goldbugs appear to be on a mission to influence/convert as many guests as possible to their point of view and to do that they post on the main house price forum rather than the gold forum which has less guests viewing.


Have a look down the topics on the first page. Now look at all the sub-forums. Strictly, most topics should be moved to other sub-forums.

I don't know what the answer is - when there was a single thread allowed (the "gold" thread) it seemed to work best. it was a place where posters could ramp, or otherwise, to their hearts content, allowing people to vent their spleens on the main board.
---------------------------------------------------------------------------------------------------------------------

Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible behaviour drift into behaviour akin to that of Cinderella at the ball. They know that overstaying the festivities...will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is a helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

My favorite post ever:
By Ruffles the Guinea Pig




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