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Interesting week for gold...

Old 06-19-2019, 06:19 PM
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Default Interesting week for gold...

Currently at $1383.

I am trying to figure out why, but nothing in the news seems to support this.

Anyone?
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Old 06-19-2019, 06:27 PM
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Volatility, trouble in the middle east and pacific and domestic tariffs seem to be driving gold upward.

Another three hundred rise and I can break even from the 2011 gold bug fever.
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Old 06-19-2019, 06:33 PM
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Old 06-19-2019, 06:35 PM
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Originally Posted by savage View Post
Volatility, trouble in the middle east and pacific and domestic tariffs seem to be driving gold upward.

Another three hundred rise and I can break even from the 2011 gold bug fever.
Sorry for the fever. I'm in a little better shape.
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Old 06-19-2019, 06:43 PM
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Originally Posted by savage View Post
Volatility, trouble in the middle east and pacific and domestic tariffs seem to be driving gold upward.

Another three hundred rise and I can break even from the 2011 gold bug fever.
itís not if, but when.... hang in there.......
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Old 06-19-2019, 06:58 PM
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Just had a talk with my uncle about gold price. He has made some bizarre investments over the years. (I like to hear about his failures lol) In 2007 he was doing work for some middle eastern guys and they offered to pay him in gold. It was almost $600 then. He took it. The payment was mid 5 figures. He hasnít done anything with it yet.
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Old 06-19-2019, 07:00 PM
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Originally Posted by WPBTH View Post
Just had a talk with my uncle about gold price. He has made some bizarre investments over the years. (I like to hear about his failures lol) In 2007 he was doing work for some middle eastern guys and they offered to pay him in gold. It was almost $600 then. He took it. The payment was mid 5 figures. He hasnít done anything with it yet.
Hope it's gold?!
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Old 06-19-2019, 07:50 PM
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Originally Posted by WPBTH View Post
Just had a talk with my uncle about gold price. He has made some bizarre investments over the years. (I like to hear about his failures lol) In 2007 he was doing work for some middle eastern guys and they offered to pay him in gold. It was almost $600 then. He took it. The payment was mid 5 figures. He hasnít done anything with it yet.
The S&P 500 has gone up 97% since 2007, about the same.
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Old 06-20-2019, 03:10 AM
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Skibum

My thought right now is that this is the smart money positioning in front of the mania money. Tell your uncle to call me. :-)
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Old 06-20-2019, 05:00 AM
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They aren't even pining for zee gold over on zero hedge. Jit coin has taken away the lure of gold.

And there is a lot of commentary on gold's surge. You're not looking in right places. A Van Eck (mutual funds) rep was in our office last month. They are a specialty shop with a long history of metals exposure. Their web site might have some useful info for you. Or seeking alpha.

https://seekingalpha.com/symbol/GLD?s=gld
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Old 06-20-2019, 09:18 AM
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Ps I'm not a gold bug
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Old 06-20-2019, 09:36 AM
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I am going to dump all my gold this week. It’s a good time.
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Old 06-20-2019, 10:25 AM
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Look at the 5 year return for gold... Spoiler- its 0%. last time there was QE, inflation was zero. Some would argue deflation. Face it, america is the cleanest dirty shirt when it comes to monetary policy.
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Old 06-20-2019, 11:43 AM
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Originally Posted by ncmallard78 View Post
Look at the 5 year return for gold... Spoiler- its 0%. last time there was QE, inflation was zero. Some would argue deflation. Face it, america is the cleanest dirty shirt when it comes to monetary policy.
True...Gold is at all time highs in many other currencies...it is going to go much higher in USD terms, too. I'm continuing to buy and own a lot of miners in my portfolios.
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Old 06-20-2019, 11:59 AM
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Originally Posted by ncmallard78 View Post
Look at the 5 year return for gold... Spoiler- its 0%. last time there was QE, inflation was zero. Some would argue deflation. Face it, america is the cleanest dirty shirt when it comes to monetary policy.

What’s your point? Over 15 years it’s been 220%, over 8% per year. Over the last 6 months it’s been 9.5%.
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Old 06-20-2019, 12:08 PM
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Originally Posted by C3D View Post



What’s your point? Over 15 years it’s been 220%, over 8% per year. Over the last 6 months it’s been 9.5%.
I think its a bad investment. it pays no income and has been flat the past 5 years. Gold is a hedge against inflation. the 10 year treasury, a key marker of inflationary pressure, is under 2%.

On second thought, you should load the boat.
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Old 06-20-2019, 01:06 PM
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Originally Posted by ncmallard78 View Post
I think its a bad investment. it pays no income and has been flat the past 5 years. Gold is a hedge against inflation. the 10 year treasury, a key marker of inflationary pressure, is under 2%.

On second thought, you should load the boat.
Gold is not a hedge against inflation. That's a misnomer. Gold is insurance against catastrophe. It will never make you rich, it's great at making sure you're never poor.
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Old 06-20-2019, 01:09 PM
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I've always wondered how you'd spend it, if you need to. Scrape some off a gold bar and trade it for a gallon of milk and some TP?

And if gold is so valuable, why do places want to trade my worthless money for it?
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Old 06-20-2019, 01:22 PM
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Originally Posted by SrqCraig View Post
Gold is not a hedge against inflation. That's a misnomer. Gold is insurance against catastrophe. It will never make you rich, it's great at making sure you're never poor.

But in a world where asset correlation unexpectedly occurred (think of the value of every asset plummeting in 2009 so cash became the only thing that held its value), precious metals should form an important — but small — part of every asset portfolio. If you have 3-5% of your net worth in Au/Ag/Pt that’s a good thing.
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Old 06-20-2019, 01:31 PM
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Originally Posted by ncmallard78 View Post
Look at the 5 year return for gold... Spoiler- its 0%. last time there was QE, inflation was zero. Some would argue deflation. Face it, america is the cleanest dirty shirt when it comes to monetary policy.
Just because an investment does nothing for a period of time, doesn’t in and of itself make it a bad investment.
Originally Posted by C3D View Post

But in a world where asset correlation unexpectedly occurred (think of the value of every asset plummeting in 2009 so cash became the only thing that held its value), precious metals should form an important — but small — part of every asset portfolio. If you have 3-5% of your net worth in Au/Ag/Pt that’s a good thing.



Does dusting all of those bars get old? .....
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Last edited by aubv; 06-20-2019 at 01:39 PM.
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