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Will Gold Price Rise To New High?

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nowt so tragic as an unanswered post :rolleyes:

yesterday I sold my measley 0.277 kg on bullionvault at $896/kg as I think the inevitable Sunday thumbs up announcement will trigger the usual Monday equities champagne supernova and gold will head down to the low 800s by midweek whereupon I shall buy back in and contnue my lifelong mission to acquire 1kg.

I've stopped acting on common sense and am doing the opposite of my gut feeling...if they're gonna manipulate the market, it's through the looking glass time. Still buying coins every month though so I can secure my place on a Tilbury container ship to Thailand, should Blackwater UK start patrolling the streets of Essex. :ph34r:

All time highs after November, volatilty till then. (why = hyperinflation)

Edited by rokinik

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What is your opinion?

I've come to the firm conclusion that I'm a "don't know" for the present. :P

My best guess is that there will be an announcement late tomorrow night (Sunday) that a bailout has been agreed by Congress, which will probably lead to a Monday whack at the gold price.

The bailout will not satisfy thoughtful US people-in-the-street, so from then on it will depend on Press and Internet comment.

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........ should Blackwater UK start patrolling the streets of Essex. :ph34r:

Hmmmmmm. The school, the village hall and the pubs on Foulness have all been closed........ :blink:

Signed

Paranoid of Essex

.

Edited by argentos

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nowt so tragic as an unanswered post :rolleyes:

yesterday I sold my measley 0.277 kg on bullionvault at $896/kg as I think the inevitable Sunday thumbs up announcement will trigger the usual Monday equities champagne supernova and gold will head down to the low 800s by midweek whereupon I shall buy back in and contnue my lifelong mission to acquire 1kg.

I've stopped acting on common sense and am doing the opposite of my gut feeling...if they're gonna manipulate the market, it's through the looking glass time. Still buying coins every month though so I can secure my place on a Tilbury container ship to Thailand, should Blackwater UK start patrolling the streets of Essex. :ph34r:

All time highs after November, volatilty till then. (why = hyperinflation)

How much progress have you made in your efforts to get 1kg? What did you start with, have you made some losses etc?

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The answer I think is yes, gold will go up as the US pump billions and trillions of freshly printed dollars into the system. Personally I have bought physical

gold and silver as the price has dipped and shares in gold mining operations. I have no intention of selling my physical gold any time soon. I may sell up my shares on Monday if the price looks like it will nosedive and then buy them back as soon as possible before prices resume their rise.

Edited by satsuma

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Will Gold Price Rise To New High

A simple answer, no, Gold is the Fool`s investment, where it attracts those Fools to the honey, but eventually the honey loses its sweet taste. ;)

Edited by Weasel

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How much progress have you made in your efforts to get 1kg? What did you start with, have you made some losses etc?

no losses so far (since July) Bought initially @ $842, sold @944, back in @824 then added @806, out @896. about £275 up on a £4k investment at moment.

not exactly Buffet, but not Milken either ;)

If I ever get my bar I'll carry it around town singing Johnny Cash " I got it one piece at a time, and it didn't cost me a dime" (actually no I won't, there's a lot of range rovers in Essex)

Hmmmmmm. The school, the village hall and the pubs on Foulness have all been closed........

That'll be the depleted Uranium left behind by the MOD :ph34r:

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If you are not keen on gold, what is your personal preference as an "investment" in the current economic climate?

Good Luck if you can get an answer to that one. I think Weasel/Stoat has a bit of a chip on his shoulder when it comes to gold (or is it FP). See the troll sub-forum for more details.

edit -in answer to the question, I am about 10% PMs at the mo: For me it is not about what price I expect Gold to go to, but having an element of pm insurance in these uncertain times.

Edited by prophet-profit

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yesterday I sold my measley 0.277 kg on bullionvault at $896/kg

Someone got a good deal, you will have a short trading career mixing up kg and ounces like that. :lol:

I agree with you about the future of gold though, the US will insist that the bailout won't cost anything in the long run, causing the price of gold to drop, then in a couple of months there will be other bank/derivative issues and they will have to admit they were wrong.

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I just found my thread now.

I did start it a couple of days ago, but I tought it would appear on the house price main forum, so I was wandering why my thread was not appearing. I didn't even know tat there was an investment section.

Sorry I am a newbe :unsure: .

BTW there a couple od things I woul like to know:

- I agree that gold price could go up quite dramatically as I expect some sort of stagflation in the UK for a long time, with house price going steply down, unemployment raising, GDP decling (Deflationary), on the other hand the price of commodities will go up, the Pound seriously devaluated, leading to inflation

My question is what would happen to the price of gold in the case of a deflationary scenario?

- Also I have read many comments of people suggesting to hold physical gold such as coins, as opposed to buy paper gold through a dealer. Could anyone explain me why?

- FInally in the case of buying gold and reselling it at a later date, what taxes would be involved?

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- Also I have read many comments of people suggesting to hold physical gold such as coins, as opposed to buy paper gold through a dealer. Could anyone explain me why?

At the end of some particularly bad day, maybe not this year or next, but sometime,

you may find that a piece of paper with letters and figures is just that - a piece of paper with letters and figures.

Gold is gold. One ounce of it may go up and down in value compared with paper money, a loaf of bread, or a gallon of petrol

and it will never earn any interest, but it will always have value everywhere in the world.

Gold is expensive to insure and to keep safe from thieves, but so long as it is in your possession

(and not represented by a piece of paper saying someone has it under guard in their secure vault :( )

then you, your children and your children's children, even unto the ninth generation, will be able to exchange it for things you need.

So it seems prudent to keep some physical gold against a rainy day.

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- Also I have read many comments of people suggesting to hold physical gold such as coins, as opposed to buy paper gold through a dealer. Could anyone explain me why?

Behold, they speaketh boll0cks

but so long as it is in your possession

then you, your children and your children's children, even unto the ninth generation, will be able to exchange it for things you need.

:rolleyes:

Edited by Mark Uttley

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Behold, they speaketh boll0cks

:rolleyes:

Please elaborate,

Why do you continue to post in the PM forum, if you have no REAL information to offer why waste your time no one pays any attention to your posts and i find you quite irritating therefore placed you on IGNORE.

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i find you quite irritating therefore placed you on IGNORE.

If you agree with the poster I was quoting then your head is probably so far up your @rse that you couldn't hear me anyway.

Gold is a commodity. It may be a good buy at the moment, or it may not. Anyone who thinks that by buying it they are "protecting themselves" or their great-great-great-great-great-great-great-grandchildren is a twit, and deserves to be told so. My great-great-great-great-great-great-great-grandchildren are getting nothing from me.

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At the end of some particularly bad day, maybe not this year or next, but sometime,

you may find that a piece of paper with letters and figures is just that - a piece of paper with letters and figures.

Gold is gold. One ounce of it may go up and down in value compared with paper money, a loaf of bread, or a gallon of petrol

and it will never earn any interest, but it will always have value everywhere in the world.

Gold is expensive to insure and to keep safe from thieves, but so long as it is in your possession

(and not represented by a piece of paper saying someone has it under guard in their secure vault :( )

then you, your children and your children's children, even unto the ninth generation, will be able to exchange it for things you need.

So it seems prudent to keep some physical gold against a rainy day.

I see your point, but that seems like a Armageddon scenario, like in case of a world war. I am not saying that it is not possible, but I suppose there should be some reliable (relatively speaking) institutions storing gold in exchange of a certificate.

If we should get to that point then money or bonds would be worthless. Or am I being naive?

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I see your point, but that seems like a Armageddon scenario, like in case of a world war. I am not saying that it is not possible, but I suppose there should be some reliable (relatively speaking) institutions storing gold in exchange of a certificate.

If we should get to that point then money or bonds would be worthless. Or am I being naive?

I dont think gold is a hedge againt the end of the world, yes if the world economy falls apart and the west crumbles then a few ounces of gold might be useful to buy passage to more favourable climes. However if this happens then it will take a few years and the price of gold will also collapse as demand drops off.

The senario I see is a period of inflation where the buying power of western currency decreases. In this situation gold prices increase bit by bit with a big increase now and again. As I said recently the billions and trillions that will be pumped into the markets by the US will feed into a reduction in the buying power of the dollar. I would see small gold mining operations becoming more profitable and in fact this trend has already started. There is realy money to be made by investing in these companies. The price of gold will go down in the future but I think that is a few years off.

Edited by satsuma

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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