Saturday, Aug 08, 2009
Gold price falls
Telegraph: Gold falls in value by 10pc for UK investors
Like this bit "even though gold has appreciated by 2.2pc over the period. ", yes, amazingly although the value is down 12%, its appreciating ! Going up but down. Simultaneously. Basically in summary gold is down in sterling, but up in dollars.
Posted by stillthinking @ 12:13 PM (668 views) Add Comment
5 Comments
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1. alan said...
This represents a buying opportunity, I think.
Gold (IMHO) will reach $1750 before this crisis/crunch is over. No surprise that the Royal Mint is working overtime producing sovereigns.
2. jack c said...
Some of you might find the following link useful (particularly those that like graphs) it covers the commodity markets insight report as of 29/07/2009
www.fitzwilliamasset.co.uk/downloads/Commodity%20Market%20Insights%20-%20July%202009.pdf
3. hpwatcher said...
It's only down in Sterling because of a weak dollar, no other reason.
Certainly not because people are going off gold, as posters seem to be suggesting here.
4. debtfree said...
Those who doubt gold are just not quite on the buzzer. Some of us get it and some of us don't. They can mock and say bubble or that gold is of no use, but that's ok, because they don't understand, it's over their heads.
If gold is in a bubble and fiat currency was worth holding, then why have central banks lowered the quota for dumping gold onto the market ?
http://seekingalpha.com/article/154715-new-central-bank-sales-agreement-is-very-bullish-for-gold?source=email
5. techieman said...
hmmm maybe this might help alan? http://www.bbc.co.uk/iplayer/episode/b00hzyg9/Book_of_the_Week_The_Decisive_Moment_Episode_3/