Gold

[ynot]

China probably just creating a shakeout in gold. Settle the price a bit, then buy more. They are committed to a strong gold price.

[JBmurc]

LOL


https://x.com/80IQmindset/status/1805925394941378773

[troyvdh]

JB ...What a courageous post.
Cheers.

[JBmurc]

JB ...What a courageous post.
Cheers.

those crypto boys are certainly different >>>>

[ynot]

those crypto boys are certainly different >>>>

Whats she doing in that park ? Especially when she hates it.

[Valuegrowth]

LOL


https://x.com/80IQmindset/status/1805925394941378773

Nice one. Gold Vs. Bitcoin

[Daytr]

Interesting article on the expansion of the BRICs and their appetite for gold. The standout new Comer for me is Saudi Arabia.

https://stockhead.com.au/resources/gold-digger-breakaway-brics-crib-currency-float-with-bullion-binge/?utm_medium=email&utm_campaign=Weekend-06-28-2024&utm_content=httpsstockheadcomauresourcesgolddigger breakawaybricscribcurrencyfloatwithbullionbinge&utm_medium=email&utm_campaign=Sat%20NL%20Jun%2029&utm_content=Sat%20NL%20Jun%2029+CID_fe8160104ccfee 827abbf505714269c7&utm_source=Campaign%20Monitor&utm_term=Gold%20Digger%20Breakaway%20BRICS%20on%20 bullion%20binge%20pushing%20new%20gold-backed%20currency

[JBmurc]

Whats she doing in that park ? Especially when she hates it.

It's like a metaphor for us with interests in the PM sector ...everywhere you turn you have Gayass Crypto scams or crypto-nerds talking it up ..putting out this great lifestyle if you would only just sell everything and jump on the bandwagon as the Ponzi can't keep going if the buying stops..

Gold has and will continue to hold intrinsic value doesn't matter about hype from the Gayboys

[ynot]

It's like a metaphor for us with interests in the PM sector ...everywhere you turn you have Gayass Crypto scams or crypto-nerds talking it up ..putting out this great lifestyle if you would only just sell everything and jump on the bandwagon as the Ponzi can't keep going if the buying stops..

Gold has and will continue to hold intrinsic value doesn't matter about hype from the Gayboys

Definitively follow the inverse relationship between gold and BC. The gay crypto thing is news to me !

[JBmurc]

Definitively follow the inverse relationship between gold and BC. The gay crypto thing is news to me !

GAY - Happy etc .... BUY BTC yay happy times make easy muti bagger...

All through Youtube - Twitter etc... in the comment section of Gold investment analyst etc you get Crypto scam posts ..

[Bjauck]

Whats she doing in that park ? Especially when she hates it.
Beautiful Goldie was accompanying her Grandmother, who needed the WC, for a walk. The sleazy cryptos were up to no good!

[nztx]

A little goldie really rocking & rolling - thanks TG :)

[nztx]

A little goldie really rocking & rolling again some more today - thanks TG :)

still a wee way off to reach many bags

[Daytr]

Go gold you good thing. Charging higher, but even more impressive has been silver & copper.

I've been long both silver & copper for a while & the patience has paid off in the last week or so.

And I'm long gold by proxy through gold stocks.

[nztx]

The little goldie continued rocking & rolling yesterday .. up by over 250% in as many weeks .. not a bad run with likely more due :)

[Daytr]

The little goldie continued rocking & rolling yesterday .. up by over 250% in as many weeks .. not a bad run with likely more due :)

Which little Goldie are you referring to?

[nztx]

Which little Goldie are you referring to?


Battery Minerals .. or used to be :)

Nice little ride so far

[Daytr]

Battery Minerals .. or used to be :)

Nice little ride so far

Well done !

[nztx]

Well done !


A bit more run in it today too .. nice tight register helps

makes a change seeing them up on the ceiling at close

[Daytr]

Gold back towards all time highs.
I've been long silver which has a lot of catching up to do with gold.

Gold stocks should have a great day.

[Bjauck]

Gold back towards all time highs.
I've been long silver which has a lot of catching up to do with gold.

Gold stocks should have a great day.In NZD terms, Silver has a comparatively recent surge, and is up by about 450% in 20 years. Gold is up by about 530%.

In that 20 yr period NZ inflation CPI is up by 67%; Housing cost index is up by 246%; NZX50 Gross is up by about 350%.

Wages are up 110%

[Daytr]

In NZD terms, Silver has a comparatively recent surge, and is up by about 450% in 20 years. Gold is up by about 530%.

In that 20 yr period NZ inflation CPI is up by 67%; Housing cost index is up by 246%; NZX50 Gross is up by about 350%.

Wages are up 110%

Yeah the turn in gold almost coincided with my commodities career. I remember when gold was about USD220/toz and gold had been going down for 20 years but now was below production costs.

Central banks including NZ had finished their selling & miners stopped hedging and in some cases bought back their hedge books.

Gold topped out just below $2000 in 2011 and silver $49.
Gold now 20% higher than that, silver still has 60% to go just to match those previous highs.

The gold / silver ratio is currently circa 77.
In the last 20 years it's traded on average about 67 so just on that basis silver should be 20% higher.

[Bjauck]

Never a dull moment in commodities! I wonder if China has resumed buying gold again.

[ynot]

Never a dull moment in commodities! I wonder if China has resumed buying gold again.

Hopefully soon. That will give the market some momentum.

[Aaron]

In NZD terms, Silver has a comparatively recent surge, and is up by about 450% in 20 years. Gold is up by about 530%.

In that 20 yr period NZ inflation CPI is up by 67%; Housing cost index is up by 246%; NZX50 Gross is up by about 350%.

Wages are up 110%

Where did you get those stats from?

[Bjauck]

Where did you get those stats from?
They are approximate. Reserve Bank Inflation calculator https://www.rbnz.govt.nz/monetary-policy/about-monetary-policy/inflation-calculator and https://goldprice.org/

[Aaron]

They are approximate. Reserve Bank Inflation calculator https://www.rbnz.govt.nz/monetary-policy/about-monetary-policy/inflation-calculator and https://goldprice.org/

Thanks, not sure how you analyse them but using my negative outlook.

A bulls*it CPI figure that the RBNZ uses to justify pushing up asset prices, with workers falling behind the owners of capital. And we wonder why wealth and income inequality keeps getting worse (or better depending on your view).

It might indicate that owning some gold to protect against monetary debasement is worthwhile at least in recent history. Today is not too shabby, mind you all assets probably going up atm with the promise of rate cuts and more monetary debasement.

Alokdhir probably jizzing in his pants after the latest from Adrian Orr.

[Bjauck]

Thanks, not sure how you analyse them but using my negative outlook.

A bulls*it CPI figure that the RBNZ uses to justify pushing up asset prices, with workers falling behind the owners of capital. And we wonder why wealth and income inequality keeps getting worse (or better depending on your view).

It might indicate that owning some gold to protect against monetary debasement is worthwhile at least in recent history. Today is not too shabby, mind you all assets probably going up atm with the promise of rate cuts and more monetary debasement.

Alokdhir probably jizzing in his pants after the latest from Adrian Orr.

The figures do not take into account tax ramifications for the various asset classes. It does show that those who could have invested in any of those asset classes twenty years ago have done quite well. Gold has been a good performer in the period. With housing many would have a boost from leveraging too.

When looking at the lower inflationary increase for wages, it certainly makes you realise the disadvantage for younger folk trying to accumulate their savings and assets, and how much more dependant they will be on inheritances, compared to the older generation, if they are lucky enough.

The Reserve Bank just operates within the remit given to them by the government. Both Labour and National have supported this in-built inflation. The exclusion of much of the inflationary asset price increases from CPI figures has certainly been helpful for keeping interest rates lower. Of course international institutions are known for considering the NZ tax system an anomaly in the OECD, but it is toxic electorally to propose fundamental reform.

[Daytr]

Gold back to record highs.
Back over NZD4k & AUD3.6k.
Giddy up!

[JBmurc]

https://www.mining.com/global-gold-demand-reaches-q2-record-report/

The latest publication by the World Gold Council showed global demand for the precious metal increased 4% year-on-year to 1,258 tonnes in the second quarter, the highest ever of any Q2 on record.


Total increased demand, says the Council, was supported by healthy over-the-counter (OTC) transactions, which were up a notable 53% year-on-year at 329 tonnes.

Sign Up for the Precious Metals Digest
Central banks and official institutions also increased global gold holdings by 183 tonnes, a slower rate than the previous quarter but still reflecting a 6% increase year-on-year.

The surge in OTC demand and continued buying from central banks, plus a slowdown in ETF outflows, helped drive gold prices to a record $2,427/oz. during the quarter. Gold averaged $2,338/oz. for the three-month period, 18% higher year-on-year.





AUD GOLD very close to $3800oz new record HIGH

[Bjauck]

Worsening situation in the Middle East, China buying more? Interest rates starting to weaken. All add to the impetus I guess.

[Daytr]

Gokd has held very well considering the turmoil in other markets.

Central Bank buying has been the key.
Just think all those CBs that sold their gokd reserves near the lows, NZ included.
Bloody disgrace.

Cost of carry is still high but set to improve with lower interest rates.
$3k is highly likely imo, but I have been saying that since it was trading around $1850....

[JBmurc]

Gokd has held very well considering the turmoil in other markets.

Central Bank buying has been the key.
Just think all those CBs that sold their gokd reserves near the lows, NZ included.
Bloody disgrace.

Cost of carry is still high but set to improve with lower interest rates.
$3k is highly likely imo, but I have been saying that since it was trading around $1850....


Yes if we indeed are running into GFC 2.0 .. will GOLD play out the same way surge like it has pre-crash then fall as many larger holders need to raise capital ??

Gold's downturn in 2008 turned out to be a bump in the road on the way to nearly $1,900/oz three years later. But why did gold fall so much in the first place? Isn't it a safe haven in times of market stress?

At the height of a selling panic like we saw in the financial crisis, everything that's not bolted to the floor tends to get liquidated. That means liquid assets such as gold are often among the first things that get sold. As a result, for several months, even the precious metals followed the stock market lower.



https://www.gainesvillecoins.com/blog/gold-price-2008-what-we-can-learn

[Daytr]

Yes if we indeed are running into GFC 2.0 .. will GOLD play out the same way surge like it has pre-crash then fall as many larger holders need to raise capital ??

Gold's downturn in 2008 turned out to be a bump in the road on the way to nearly $1,900/oz three years later. But why did gold fall so much in the first place? Isn't it a safe haven in times of market stress?

At the height of a selling panic like we saw in the financial crisis, everything that's not bolted to the floor tends to get liquidated. That means liquid assets such as gold are often among the first things that get sold. As a result, for several months, even the precious metals followed the stock market lower.



https://www.gainesvillecoins.com/blog/gold-price-2008-what-we-can-learn

Yep it was a busy time on the trading desk.
Not sure we are heading for a GFC 2.0 though, but anything is possible. As some of the heat is already being taken from the market that may prevent the type of sell the kitchen sink market ensuing.

The US commercial property market is one area of major concern for me that has been under reported. It's that sort if thing that can uncover issues at banks etc that haven't been disclosed.

My pick is that we are just seeing a healthy correction in stocks.

[JBmurc]

Yep it was a busy time on the trading desk.
Not sure we are heading for a GFC 2.0 though, but anything is possible. As some of the heat is already being taken from the market that may prevent the type of sell the kitchen sink market ensuing.

The US commercial property market is one area of major concern for me that has been under reported. It's that sort if thing that can uncover issues at banks etc that haven't been disclosed.

My pick is that we are just seeing a healthy correction in stocks.

Yes TECH esp has been overheated... I think end of the day the FED will do as they always have and print trillions more to keep it going ..inflation is going away IMHO and thats why the likes of GOLD / Silver will continue to do very well this decade