HUhhh? How would owning gold be of any benefit to people in Christchurch? Cannot see any logic in that at all.
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Most people go for an income stream, something gold doesn’t provide.
On another note…
“Paulson's US$700 million (NZ$827m) gold fund lost a whopping 27 per cent in April, when the price of the metal plunged 17 per cent over a two-week stretch, according to performance figures provided by a person familiar with the fund.
The jarring one-month decline in the Paulson gold fund brings the year-to-date loss for the fund to about 47 per cent, the source said. The fund's losses were magnified by the fact that its bullish bet on gold was enhanced with leverage, or borrowed money, and derivatives tied to the price of gold.”
…We hear a lot about the paper gold sellers/manipulators, but never the paper gold buyers/manipulators eh.
What are you talking about? Manipulation? Give me a decent example of 'manipulation'. Not Keiser, Sinclair, KWN or any others talking up a load of Schiff, but something substantial.
There's no difference between 'paper' gold and the real thing. 'Paper' gold as you call it is far more desirable because it's much more liquid and the buying and selling premiums are less.
What's not to like about that?
Bit of tongue in cheek there Skol (I’m certainly not a conspiracy theorist), my point was that if there are paper sellers of Gold (Manipulators as Gold bugs tend to call them) there is just as much chance as paper gold buyers. Looks like Paulson himself was a paper buyer. Just pointing out that it can go both ways. But Paulson got seriously burnt with a 47% loss ouch. Gold is meant to be a safe haven? Doesn’t appear that way to me.
Money printing (actually it's bond buying, not money printing) hasn't translated into inflation and the gold price is suffering accordingly. Gold is still overvalued and I expect more dramatic falls in the not too distant future.
After the 1980 gold crash it took gold 20 years to hit rock bottom, at the moment we're nowhere near it.
Still it is always good to get a mix of ideas. Anyone else got any thoughts on which way is up?? For the last few weeks gold has stayed nicely in the tight trading range of 1445 to 1475 and from here I read that it will fall to 700 or rise to 3000 all within a year.Better take up fishing as I know where I am.
Going a bit too far here Skol - theres a huge difference.
Paper gold is an asset that is only as good as the liability on the other side.
Actual gold is a possession that can only be taken away by the government or a thief.
In any transaction would you rather have the thing, or the promise to deliver the thing?
Mostly they're the same of course - except for that very time when the Schiff hits the fan and promises start to get broken every where in the system.
There's no difference, a new generation of goldbugs with some strange idea that the entire economic system is gonna collapse, they've pushed this barrow for years, it's really tedious, if it was going to happen it would have happened 5 years ago. The same as they bang on about confiscation and manipulation, but there isn't a shred of evidence, it's in their minds, they're brainwashed. The govt., or anyone else for that matter isn't interested in gold.
In the meantime of course, those that own equities.........................