Is another way to have exposure to Gold .. personal if I wanted just Gold interest I'd either hold the real deal Bullion or PMGOLD.asx ... but for me I invest in micro-cap ASX Gold plays as I like the leverage on trade ..
Printable View
I will take that as two 'NO's then. :t_up:
Hell sNOw .....
Does investment in PMGOLD add to ones total for the purposes of the $50,000 exemption under FIF rules?
Maybe here would know NOR?
https://community.sharesight.com/t/n...fif-report/379
I've had a bit of a sniff at sharesight but for what I want to know I would have to pay. Naturally that's not the first choice.
However what I notice is that their sample calculation detects the peak value and if it's over 50,000 the fif rules come into play, which is what I had always believed. BUT the guide IRG3 2021 says " There's also an exemption from the FIF rules where the total cost of all the investment for FIF purposes is below NZ$50,000." Cost means what was paid in my understanding.
Cancel that. Sharesight does calculate on peak cost. Still don't know about PMGOLD. The nearest category which could be stretched to include them would be a unit trust.but they're not that. They are options to acquire 1/100th of an ounce from the mint.
Goto
https://brc2.ird.govt.nz/opa12/web-d...lobal%24global
press the buttons to make it work and it will tell you that:
PMGOLD is not FIF exempt
Thank you for your response Snow Leopard. I've used this IRD feature to check my holdings before and I know it says PMGOLD is not exempt but I don't think this is necessarily conclusive because just as it says that Xero is not exempt (because it is not foreign and so doesn't need exemption), it might being saying that PMGOLD is not exempt because it doesn't fall into any of the four categories to start with, ie foreign company, unit trust, superannuation scheme or life insurance policy.
The closest match would be unit trust but it is not that. Perth Mint describes it as an option to acquire gold. Please post any more thoughts.
What it does not say for PMGOLD which it does say for BHP & WOW etc is this:
"Income from the shares is taxed under the general income tax rules."
Take that as it comes under FIF.
Well it wouldn't say that would it, because they're not shares.
Neither does it say they are FIF.
It says (in part)
"If the investment is a FIF, the income will generally be taxed under the:
fair dividend rate (FDR) method
comparative value (CV) method
cost method (CM)
deemed rate of return (DRR)"
Note the if.
I'll find the answer one way or another but I will need more certainly than what it doesn't say about them.
There is no helping some people.
https://c4.wallpaperflare.com/wallpa...er-preview.jpg
If you don't know either you're not much help.
Lol snow Leopard...
You got mauled...
...
Don't know if this helps but here is a definition of a foreign investment fund (FIF)
A foreign investment fund (FIF) is an offshore investment that is:
a foreign company
a foreign unit trust
a foreign superannuation scheme
an insurer under a foreign life insurance policy.
If it is not under $50,000 or on the ASX exemption list or a foreign superannuation scheme then it is a FIF.
Which of those four categories does PMGOLD fall in?
PS cash and TDs and some other things are not FIFs.
See IR461
A FIF does not include term deposits, bonds, debentures, money lent, foreign employment, pensions, qualifying foreign private annuity or rental investments.
If PMGOLD is the ticker for the ASX listed COMPANY Perth Mint then it is pretty self explanatory.
The COMPANY according to the ASX is involved in precious metals refining, minting, depository and distribution services.
It also does not feature on the ASX exemption list.
https://www.ird.govt.nz/income-tax/i...ent-fund-rules
Based on the IRDs definition I would tend to think it is a FIF. In fact it would be pretty hard to come to another conclusion, but I guess we don't all think the same way.
An ASX listed company is neither a TD, bond, debenture or any of the other things you list. I am starting to see where the confusion might be coming from.
The definition does include COMPANIES on the ASX which do not meet the exemption criteria.
Maybe you should look at the exemption criteria and see if it needs changing at IRD. I don't have time to check my self but here is a start.
Exemption for ASX-listed Australian companies
The ASX-listed Australian company exemption applies when you own shares in a company that:
-is included on the official ASX list
-is Australian resident and not treated as resident in another country under an agreement between Australia and that other country
-maintains a franking account, and
-offers stock that is not stapled.
Your dividend advice slip should show if your dividend is a franked dividend. This means the dividend has Australian franking credits attached. Note that Australian franking credits cannot be claimed as tax credits in New Zealand.
No Aaron PMGOLD is not the ticker for the Perth Mint. As mentioned yesterday it is an option to acquire 1/100th ounce of gold from the Perth Mint.
So which of the four FIF categories would that fall in?
a foreign company?
a foreign unit trust?
a foreign superannuation scheme?
an insurer under a foreign life insurance policy.?
Pretty much everything getting smashed Crapto down 6% US Markets DOW futures DOWN 400+ >> BUT Gold going up AUD gold up $33oz !! last few hours ..
Sorry my mistake, I put PMGOLD into the ASB Securities search and Perth Mint came up under that ticker.
An option, in this case a call option would I think generally be considered a financial arrangement (none of the things listed above) and as such would fall under the financial arrangements rules rather the the FIF regime.
This raises a whole lot more questions than I have time to answer.
I tend to agree that it is not FIF. Which is good and bad (if true). Bad because having just got my head around FIF rules, at least to the limited extent necessary for my purposes, I will have to look at financial arrangement rules.
Hopefully there is a big threshold before it kicks in.
Gains on sale of gold bullion of any kind are taxable of course.
From an IRD document Questions We've Been Asked QB17/08
"Gold may also be invested indirectly, for example through investment in a fund that owns commodities or benchmarks its return to commodities, or through other derivatives such as forwards, futures or options. Investments in gold in those or other forms not covered by this QWBA may still give rise to tax implications under s CB 4 or under other tax rules (for example under the financial arrangements rules)."
https://youtube.com/shorts/pTrgExsjZ3I?feature=share
Warren buffet on Gold...
LOL YUP
Another Ausi pm option. ASX:ETPMAG
https://www.kitco.com/news/2021-07-0...ssociates.html
Gold buying panic in 2 - 3 years.
Now that's where financial arrangement rules could kick in I think. Have come to the conclusion that if one can't be truly rich the Holy Grail of investing must be to be a cash basis person with less than $50,000 FIF on 31st March each year.
I wonder why bitcoin is depicted as gold coloured, if gold has had its day?
the reason they are the same to me is that ultimately they rely on another buyer to have any worth whereas 'better' assets ;+) ...
provide yield such as rental income dividends or interest payments. Ultimately any asset is only worth what it can produce and that is the sum of the yield over the time period and the final disposal value. Gold and BTC and other crypto only contribute through disposal. Its a significant similarity to me. I dont really value any asset that cant produce anything without selling it.
Bitcoin and crypto inherently holds lots of value in what it can do and what it represents... its the world's first global currency... !!... its the world's first peer to peer currency (no middle men).. the advantages of crypto are so profound or what it can do is going to shock the world...
Crypto has a level of privacy it can't technically be stopped, and it's secure... and a lot of crypto is decentralized so it's hard to track and source...
This is all worth lots and lots of money...
That just shows your level of ignorance...
I am earning yields from my cryptos through staking them, farming them, and pooling them...
With farming I am providing liquidity to the market and in doing this I earn returns from fees generated from transactions...
People who run the blockchain nodes and who mine crypto get paid aswell in rewards...
...
The whole banking system is an IOU based system... the only time you ever have the real money is when you go to the bank and withdraw for cash... other than that it's just numbers on a screen which aren't backed by anything at all !! Its actually the most insane system... fiat which is not backed by anything!! ... banks used to be backed by gold but now they are backed by nothing... inflation and money printing is out of control devaluing your currency... crypto is the safest in this regard too... there is a fixed supply of bitcoin and crypto ever...
It's a huge ecosystem in itself representing 1.5 trillion dollars worth...
...
Crypto offers even more than all this...
...
Your level of ignorance is huge...
...
theirs a fixed supply of Crypto- no theres not seems ever progammer including the dog (dogcoin) are inventing a crypto daily- once Governments design their own the dog coins of this world are toast- Bitcoin will survive and may well increase in value as it becomes more mainstream. Don't see why anyones has to say your ignorant- people have differnt points of view- mainly from a biased persective of course.
I’ve been following @graddhybpc on twitter, he’s a great analyst in terms of the big trends. Says gold has made a back test of the downtrend break.
BTC is no safe haven yet again shown overnight .... GOLD up a touch .... US Markets biggest down day of the year .down 1.5-2%.. BTC down 3%. .....
BTC is not Digital Gold as much as the pumpers what to believe it is and advertise using a pic of a GOLD coin with B on it .... it's a High risk TECH play..
https://www.zerohedge.com/crypto/mal...gs-steamroller
I see as AUD Gold is up $2468oz .... great for ASX Gold sector ..yet market sell off might well create more good buying >>
Holding BBUS would like to shift along with the FAT Profits to oversold Gold play >>> OBM my pick after its JUNE Qty report any day now ... low teens to see 20's++ later in the year on successive operations + higher AUD Gold
The FED is trapped; they cannot fight inflation without blowing up financial markets. The only question is when do investors begin to move money from negative real yield Treasuries & money markets to PM's to resources that are bumping along on lows Vs SP500 value ....
I had never heard of BBUS - have been trying to investigate this as a Plan B backup strategy this morning but I haven't had a lot of luck finding out too much - apart from the fact that it should be a winner if the US Stack Market keeps declining. Seems worth while having a few $$ on this as a worst case scenario ?
Yeah I've held a few times with mixed results .. not a long term hold play with the way we see the FEB bailing out the markets on every minor correction ...like say Gold but more of a swing trade ... I was planning to buy recently would have netted a nice 10%-15% gain while the markets got hit ... may still get a few ..as plenty of catalyst to see bigger falls in the SP500
Mr jbmurc aka dirk digger...
I do agree that everything moves together but crypto moves far bigger...
Last night though oh my...
DOW down 5 hundie and crypto looking pretty bang on 😉....
I need to complete one last quarter and then I'm retired 😉
And I only had $60k in the bank at the beginning of the year... what a dream year this has become !!!!!
https://www.statista.com/statistics/...eturns-global/
gold is only returning a lowly 10% per year on average over 4.5 decades.... maybe you think this is a good return... but in this new era of investment 10% is so low I personally wouldnt even waste my time...
With Financial markets cooked and heavily valued, minimal sort of returning assets just wont cut it.....
when you compare golds annualised return over the last 10 years its return is 1.5% per year...
bitcoins annualised return in 10 years is 230%...
stupid is what stupid does...
https://twitter.com/charliebilello/s...-decade-by-900
Hi CC,
You are on here banging on about the lack of performance of Gold . All we ever heard from you was the 100’s of % you were making in Crypto .
I just had a look at the Crypto competition . Seems you have a negative return if I’m reading it right .
Your one place to prove yourself , looks like an epic fail ……
Iol I am cracking crypto this year... I only have 3 holdings left now plus 20kish in loose change...
My plays are
Pancakeswap
Pulsechain
And babycake
I have been furiously staking cake to the ceiling for the last 3 months...
And,
I am probably winning the asx stock picking competition Two years In a row with my crypto tips...
Has anyone ever won it two years in a row?
:t_up:
I'm planning on that next year. The debate of stock v crypto is tiring to be fair CC. I'm reading these threads to learn about good companies with good resources and good management.
Someone brings up the topic I feel entitled to reply...
If you go back through the thread this is merely what I have done !..
You mad...
Your missing out on opportunity of a lifetime here...
Just checking with those with clearer heads. Holding gold and gold miners due to central bank money printing and suppressed interest rates. A reluctance from central banks to change course but US Fed slowing their money printing and pressure on interest rates to rise as inflation takes off. Rising interest rates not good for gold as it has no yield.
TeslaGod adamant interest rates will go negative at the first signs of trouble, but they have been kicking the can down the road for a long time.
Is gold still a good investment?
P.s. enjoyed a few up days so piqued my interest.
Has gold lost its lustre with investors on this site or are other people working when they are supposed to.
I guess even if interest rates are rising, inflation may be rising faster so real rates are still negative.
appears to have rejected $US1700 now and testing the upside
AUD Gold cranking higher last seven days we have seen it move from 2380 to 2550 !!! $170oz ..for Gold thats light-speed
This is a depends question I suppose...
Do you hold for insurance? Then yes all good all of the time
Do you hold for speculation? Then you need to be a trader and watch movements, which can be stressful
Do you hold for "investment"? Then we need to look at the fundamental reason you invested in the first place. Pays to have this written down as I tend to forget.
I think that there are so many good reasons to invest in all things gold and every time folks tell us that "it's a pet rock" or "gold is dead", they get proven wrong fairly quickly, so I tend to write those arguments off. One reason will be the forever tailwind...debt and inflation, which is what all governments seem to be addicted to.
Thanks for the replies. Another up day today, gotta stop looking.
I guess based on the amount of research I do you would have to say speculation, as not that much thought gone into it.
I speculate by buying gold producers who pay a dividend, the dividends have been increasing, but if they don't find more gold or buy someone elses discovery the business is limited. A bit like a property developer, reinvesting everything until the market turns and gets wiped out.
I don't panic about fluctuations so much as gold is considered an insurance in times of turbulence.
Fundamental reason for investing is that I think central bankers are either bat **** crazy, gutless cowards or possibly evil minions of the wealthy. They will use their control of interest rates and money supply to keep pushing up asset prices even if they destroy the currency. As the inflation tax is a regressive one it is probably the preferred option by the people in charge.
Gold cannot be so easily destroyed and while central banks hold gold in their vaults it must still be considered an option in a worst case scenario. The banks can create their own crypto and outlaw others they don't like.
The talk lately is of less money printing and higher interest rates, so it is a matter of seeing what happens if interest rates do rise significantly and asset prices fall. Will interest rates go negative to save the owners of the wealth once more? Negative rates totally nonsensical but what do I know.
I could also be easily convinced that gold is a worthless rock that provides no yield.
When I was a young fella, my sister in law was single and thought she would take a big punt on the racehorses, she won $21,000 which was a fortune then, like you could buy houses for $40 k.
The next week we all put bets on the horses, and lost it all. Just goes to show lucky gambling doesnt mean it will continue or we will all be lucky. Virtuually even though everyone thinks Crypto is a mainstream "investment" , it isnt. Its nothing, new cryptos are popping up all of the time. it like a cloud, one day poof and its all gone.
At least Gold is a store of wealth and a physical asset. Plus it is used, for many purposes. Yes and I have heard it all before, Bitcoin is exactly the same. Good luck with bitcoin, we have heard about million dollars being made quickly, but millionaires can be lost. for every winner there will be a loser. The crypto bubble will burst. All you will have left of any value will be gold.
Well, I think you are the bone head. Can't get much of a meaty investment at that time for a few hundred bucks. Well we thought my sister in law was taking a risk. She could now buy and sell you many thousands of times. Not my brag, but I know how many tens of millions she is worth now. So whose the bone head.
And she wouldn't invest in crypto in any means whatsoever.
Well golds time to shine didn't last long.
I look at the graphs at gold price.org but haven't explored the site fully so have no idea about volume or whether the gold market is set at the edges.
Non digital money with a natural restraint on supply should have some appeal in this crazy world of free money and digital dollars.
Lol my man !...
Gold is literally fools money...
It is one of the lowest performing asset classes of all time...
It does not earn passive incomes
Transaction costs for buying physical gold is extreme...
Storage is a problem...where do you store it?....
Historically gold crashes with all other asset classes in global market crashes...
:cool:cc
Gold has just been crushed again by you know what.
...
;)cc
It must be time to buy Gold Miners & Explorers then ?
Some good candidates out there with 'interesting potential'
Thanks for the heads up - Crypto .. I'm eternally grateful for your observations
Being a bit contrarian in the high thermals - hope you dont mind if I help myself, while everyone is looking the other way :)
Crypto banned in China, being banned in India and Sweden is going to ban mining it. At least gold has the advantage that it can't be turned off.
You are obviously following old news... India has not banned crypto far from it...
You can't turn crypto off... thats the point...
Even if the Internet went down and/or total power supply failed crypto will still survive (especially bitcoin)..... to eliminate crypto you would have to have a supernova swallow up our whole solar system...
In El Salvardor more people now have crypto wallets than they do bank accounts...
Over 300 million people worldwide now use crypto or about 4% of people...
This number will trend towards 100% crypto adoption in the future... ...
Gold is fools money...
you would only ever buy gold if you or someone you loved was held to ransom and they asked specifically asked for gold...
Otherwise it's just financial suicide...
This year gold has been decapitated by crypto and this will continue to happen over the long term...
People are selling gold (fools money) ... and switching it to epic performing asset class....
Posters here have continued to sink themselves over your same arguments but all crypto does is blow up ccock a hoot...
It's never too late to have skin in the game...
:cool:cc
Trueeeee,
Another reversal from what I'd heard recently...
It just shows how amazing crypto really is... they are that threatened by it they feel they need to take it off the table...
America won't be banning it and crypto will still flourish 100%...
With a VPN smart people will still trade it... you can say you can ban crypto but you can't ban crypto!!
:cool:cc
Sell gold and miners now and buy back in when Jerome goes from slightly hawkish to uber dovish?
Will probably just do nothing and see what happens.
Gold sliding due to a more hawkish Fed apparently.
https://www.reuters.com/markets/euro...on-2021-12-02/
But if we follow the playbook raising rates will induce another debt meltdown which will require a return to zero rates and even more money printing than last time.
Demographics, debt possibly maxing out, technology all potentially deflationary. I recall Gary Shilling saying that outside of war a smooth running economy is generally deflationary.
So tempted to sell up my gold producers and take a profit now before the profits disappear entirely and wait until the next crisis and next round of money printing.
Currently central banks pretending to do something about inflation is enough to put downward pressure on the gold price.
What are others doing? Keeping the faith in this faith based investment or jumping in and out as the economic news changes.
Massive money printing inflationary.
Money printing currently winning, so far only admitted that the "transitory" idea was only a delaying tactic to do nothing, while inflation takes care of the debt problem.
You need to ask yourself what has changed from a fundamental perspective compared to when you purchased.
All the good gold producers on the ASX are making so much free cash flow at the moment at the current gold price - with continued upside from exploration and organic growth and the massive upside if the gold price takes off - in the mean time I'll take the dividends and keep them in the bottom drawer.
Definitely dividends increasing, but just hearing Powell admit inflation is not transitory and interest rates starting to head up slightly. The central banks will drag this out as long as possible and find excuses not to raise rates as they need this inflation to reduce the debt problem they created.
Previously fuel and interest rates were low so a couple of major inputs were low and the price of gold was heading up but now stuck somewhere between 1,700 and 1,900, just wondering ,gold like crypto is faith based.
Good to see the Singapore central bank buying more the other day.
https://www.bloomberg.com/news/artic...ime-in-decades
Just getting impatient I guess. No real change in the reason for investing in this area but there are signs of a shift.
You don't hear about Evergrande anymore I assume the Chinese govt printed up some cash to sort it out.
Gold no longer move's with the dollar (US)
As the Fed sounds more hawkish, and eventually increases rates possible as early as June 2022 this will strengthen the dollar on a strengthening U.S economy , weakening the need for gold as a hedge or protection.
This is golds headwinds in 2022.
Hope this helps.
It might if you were consistent with your predictions. I thought you were predicting transitory inflation with technology, demographics and debt quickly switching us back to deflation with the central banks dropping interest rates and printing money in the near future to counter this.
I guess we could have even nearer term dollar strength as the Fed pays lip service to tightening and stops printing and maybe even starts raising rates.
Unfortunately I am not a nimble investor so prefer to know what your longer term trends are. I was sticking with gold as I believe the central banks will respond to any crisis with moah money and suppressed interest rates.
I Am still predicting transitory inflation, so is the bond market.
I Follow the US 10y treasury yield.
There will be a correction when the supply chains re open, technology, outsourcing labour will drive down inflation.
Biden getting involved with Federal reserve policy trying to scare the markets (like Robertson on Orr) *to push his trillion dollar infrastructure bill will only make matters worse for the bottom half of society.
*(Not the infrastructure bill,playing politics getting involved with central bank policy)
Holding gold does not protect your investments in financial crisis, stockmarket crashes... in 2008 gold hit $1000 and a low of $690 a retracement of 30%...and selling off with all asset classes.. .
People are liquidating assets to pay for debts, margins, rent, survival...
Another way to think about it... if you have one asset which has dumped, you are selling other assets which havnt dumped to Dollar cost average that... in turn pulling the price of that asset down...
Attachment 13285
Since the reset of 2008 you wouldn't have even doubled your money with gold (old)....
It's literally the worst performing asset (if you could even call it that)....
Gold is also now being switched to greater performing assets...
:cool:cc
True in 2008 gold and a lot of blue chip companies sold off hard as they were the only assets anyone wanted to buy and all the people with a margin call needed to come up with some capital. If we have another major financial crisis I imagine BTC will hold up quite well.
I guess nobody believes central banks will raise interest rates significantly.
Gold should hold up OK as we wait first for central banks to pretend to fight inflation and then if this slightly hawkish change creates another downturn more money printing and interest rate cuts.
Or is this the bottom of the cycle with interest rates onwards and upwards from here, however slowly.
The ball has been passed to China to stoke inflation, while the US Fed pretends to fight it.
https://www.zerohedge.com/markets/me...-stimmy-record
Based on this article the US fed not fighting very hard. In fact not fighting at all as monetary policy is just less loose rather than tightening.
https://www.zerohedge.com/economics/...tant-admission
Labour busy stoking inflation here at home. Rather than fighting it.
https://www.newshub.co.nz/home/polit...rom-april.html
Bad for the portion of society without any significant assets, labours traditional voter base. Poor people need to wake up and join a radical party as they are getting screwed by Labour or National.
Possibly good for gold as the ponzi nature of it all hopefully becomes apparent to the general population. Looks like the someone is going to pay for the inflation free lunch after all.
BOJ ensuring interest rates don't rise. Great to see central planners making the world a better place.
https://www.zerohedge.com/markets/ba...tain-bond-rout
Are you still around? TeslaGods posts have dropped off.
What is the timeline for your prediction when does transitory end?
https://www.cnbc.com/2022/02/10/janu...-expected.html
Who is buying US treasuries at such low yields? The trend still seems to be upwards?
https://www.cnbc.com/quotes/US10Y
Gold up 2% overnight, US $ index also up slightly. Very unusual.
Airedale,
LOL
...2%..
Very unusual? said aswell because a 2% movement is big for gold.... geeze airedale have you been snoozing.... .....
Lol how times have changed...
....
Investments Nowadays are evolving all the time... for me personally unless I can try to return at least 10% on an investment per day then it's barely worth the cost of time or transaction cost or market risk......all markets are coming into total rug pull terrioityy and no asset class is safe....I seriously think 18k dow is happening....
All markets are now on high alert of serious capitulation ... if you didn't hear in the last day the top dog at the FED said rates up 1% by July in 1 hit...this is it peeps... I've beening telling you about this for over 5 years.... they have printed the most money possible over the last 5 10 years to starve off the inevitable....
The major reset....and why?
.....
Banks have to fail to put in the central bank digital currencies which are coming...and
Id think the true US inflation Is more like 12%....
Look at this sicko anup is onto it...
https://m.youtube.com/watch?v=EKJ-rgf2XM0
....
Airedale,
Gold is literally funny money.... it offers zero protection of collapse from contagen risks from all financial markets...it is cumbersome asset... clunky and expensive and costly to move and transact with... its literally done nothing in 2 decades to even wink about .....
If you are buying or selling physical gold you are getting creamed real big... aswell as the security of holding gold you nearly have to bury it in the ground... leave a will and a treasure map.... ....
With what is on the table,
Gold is honestly fools money....
And over many years that is what I have seen...
Jbmurc Gold stocks are more profitable than physical gold... unless I needed it to wipe my bum I wouldn't bother with it... gold is and has been a huge waste of time and opportunity cost....
2% ....lol...
Listen to anup he does a solid stockmarket wrapup aswell...
https://m.youtube.com/watch?v=EKJ-rgf2XM0
....
The future is fast approaching.... AI... VR.... AR.... metaverse...
And then we have airedale toiling a 2%er.....
Oh my...
:cool:cc
Shrewdy, Thanks for that learned advice and wise words, I am doing fine with my gold miners. I hope that you are still winning at Texas holdem poker.:)
When would you suggest that the central banks start selling their gold holdings? I would like to sell my miners before this happens so a heads up would be good.
Is it possible that crypto currencies, NFTs etc are just a side effect of easy money and low interest rates.
To me they seem absurd, relying on the greater fool theory of investing. Time will tell.
Do you and Cathy Wood share a similar investing approach and philosphy?
4.14 am - must have been slow morning on Crypto earlier ? ;)
Okay - it looks like the Poms are all holed up indoors as Eunice sweeps the country
and the Yanks are beside themselves coming to terms with their new fancy toys
from Germany on a Car Transporter in process of being turned to ash off the Azores :)
AU just under $1900 Oz ATM.My Goldies,a good hedge in my portfolio , starting to shine,starting to prove their worth in this moment.
Addend - Post taken to more appropriate thread
Gold rose from March 2020 after more money printing. Money is less loose possibly tightening, I guess todays rise is gold as a safe haven in troubled times or is there an expectation the stock market fall will set off a reverse of central bank policy direction.
I guess digital gold will be doing well in these uncertain times. Crypto might want to give an update on BTC. "The new digital gold". I did see a headline where someone on the Federal Reserve Board discussed the possibility of the Fed owning BTC but didn't bother to read it.
No articles discussing any central banks considering selling physical gold though.
$1939 Oz ATM and Brent oil $104 bbl
Gold up Bitcoin down??? WTF !!!
I may have crowed too soon, looks like gold is already over the war in Ukraine.
Yes. The further issue is that Russia doesn't like NATO's expansion. But not being in NATO for a former Eastern Block country is a license for Russia to invade. I wonder what will happen there.