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Gold and silver. Discuss - Page 4

post #46 of 289
Quote:
Originally Posted by Connemara View Post
It only matters if you're a crank.

+1
post #47 of 289
Gold is a formerly precious metal with little real value underlying it's high price. We'll never return to the gold standard and frankly I'd rather have a barrel of sweet crude oil in my cupboard than an ounce of Gold. And also a while back when the entire financial system almost ground to a halt - why didn't gold go to $4000 an ounce?, if its such a safe haven.

Silver however has economic uses underpinning its price and there is becoming more demand for the products that use silver.

With both products however - beware of the widely differing and unreliable data about the amounts of both metals in and out of the ground vs demand.

One last thing - when (not if) the bubble bursts - make sure you are standing REALLY close to the exit door.
post #48 of 289
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
post #49 of 289
copper!
post #50 of 289
Quote:
Originally Posted by chabe View Post
Gold is a formerly precious metal with little real value underlying it's high price. We'll never return to the gold standard and frankly I'd rather have a barrel of sweet crude oil in my cupboard than an ounce of Gold. And also a while back when the entire financial system almost ground to a halt - why didn't gold go to $4000 an ounce?, if its such a safe haven. Silver however has economic uses underpinning its price and there is becoming more demand for the products that use silver. With both products however - beware of the widely differing and unreliable data about the amounts of both metals in and out of the ground vs demand. One last thing - when (not if) the bubble bursts - make sure you are standing REALLY close to the exit door.
So frankly, you prefer something that has a market value of $150, over something that has a market value of $1400... smart.... your analogies aren't very good..what does standing REALLY close to the exit door mean.. Does it mean if you're invested in a Gold tracking ETF, that its very liquid? Or if you hold gold bullion that you can readily liquidate them incurring large transaction costs?
Quote:
Originally Posted by asdf View Post
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
nice... apart from ancient kings, indians and dragons hoarding gold, uses of gold are primarily in electronics being a good conductor
post #51 of 289
Quote:
Originally Posted by ginlimetonic View Post
So frankly, you prefer something that has a market value of $150, over something that has a market value of $1400...

smart....

So, frankly, you prefer something just because its market value is higher...

even smarter...
post #52 of 289
Quote:
Originally Posted by mkarim View Post
So, frankly, you prefer something just because its market value is higher... even smarter...
You completely misunderstood ginlimetonic's post. chabe said he'd prefer $150 over $1,400 (1 barrel VS 1 ounce) which makes no sense unless you think oil will increase to 10x the price with gold staying flat or declining.
post #53 of 289
Thread Starter 
Quote:
Originally Posted by asdf View Post
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

Buffett said this in his 2009 shareholder letter. However, he also made a nice amount of money when he bought silver for $4 and change around 1997. He sold it sometime ago, however.
post #54 of 289
Quote:
Originally Posted by deveandepot1 View Post
What happened to make gold jump and fall so fast in 1980?

Edit- Nothing is coming up from a quick wikipedia search.

This might be of interest:
http://goldcoin.org/gold/is-the-gold...80-v-2010/973/
post #55 of 289
Quote:
Originally Posted by ginlimetonic View Post
nice...
apart from ancient kings, indians and dragons hoarding gold, uses of gold are primarily in electronics being a good conductor

So little of the world's gold production is used in industrial uses that it is almost irrelevant. approximately half goes into jewellery, and almost half goes into investments, buried in the ground with people guarding it like buffet says.
post #56 of 289
gold and silver will continue to increase nominally as long as central banks print more fiat into oblivion (qe3 anybody?) we are only beginning to see the effects in food price inflation the entire monetary system is clearly unsustainable and we will experience a systemic crash somewhere down the road. when that happens you wont be able to buy gold or silver even if you wanted to with that said im bullish on both metals but my position is heavily biased towards the yellow stuff - the reason being: silver's industrial applications and demand actually hurt its candidacy as a monetary metal; supply stability is way more important than scarcity imo! plus, how many central banks hold silver?
post #57 of 289
I was poo-pooing precious metals for a while, but after seeing what QE is doing to food and energy prices, as well as seeing the govs topple in the middle east, not to mention the shitstorm going on in WI, which is just the beginning as far as austerity goes here... I'm convinced. Intend to by 6 or 7 kg of silver bars ASAP for starters. Also, China currently trying to buy ALL the gold in the world has many thinking they are considering going to a gold standard and pulling the rug out from everyone.
post #58 of 289
Quote:
Originally Posted by javyn View Post
I was poo-pooing precious metals for a while, but after seeing what QE is doing to food and energy prices, as well as seeing the govs topple in the middle east, not to mention the shitstorm going on in WI, which is just the beginning as far as austerity goes here... I'm convinced. Intend to by 6 or 7 kg of silver bars ASAP for starters. Also, China currently trying to buy ALL the gold in the world has many thinking they are considering going to a gold standard and pulling the rug out from everyone.
I'm guessing gold will hit around 1900 an ounce and silver around 50 in a year or so. You got a little room to work with.
post #59 of 289
I have no idea honestly, but I have a strong gut feeling a fiat fiasco is on the horizon.
post #60 of 289
i have gold and silver coins taped to my body...just in case.....just in case............
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