Old Skoll, I had forgotten about him, the misery guts he was / is.
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Im an amateur historian.History always repeats."We' the world is well overdue for a major conflagration i.e War.
I believe that nationalism is one of the main issues.
After WW1..League of Nations...fail.
After WW2..United Nations....pretty much useless and failing miserably currently.
Interesting prospects that Newmont left behind .. anyone riding along on these ? :)
I've pretty much sworn off speckies, horrendous losses in percentage terms not so much in dollar terms thankfully. The exception will be Impact's divestment Burrindong? or suchlike coming up sometime, soonish, maybe. But, getting wiser, I will probably duck the IPO and scoop up a few when inevitably they have fallen to half price, not on bad news or anything, it's just what happens.
Oops Wrong figures and wrong thread!
NVIDIA can’t survIve without Gold. For that matter all AI GPU maker like NVIDIA, Samsung, Ỉntel, AMD all need tons of Gold to manufacture GPU vital to AI Revolution
GPU microchips are made with gold as well as other metals like minum, silicon, and copper because of their useful conductive properties. Of course, the monetary value of gold provides an incentive to minimize its use, but the chemical properties of gold remain so useful that manufacturers continue to use gold in chips and sometimes in internal computer wiring and switches despite their co
Gold got smacked as dollar rallies.
It's now failed twice around $2340 to give gains pretty smartly.
It's gone from going up the elevator to down & up the stairs.
A good washout of froth is a good thing & I wouldn't be surprised to see gold come back further before carrying on its way towards $3,000.
yes I ended up taking my profit and selling out of most of my GAU:TSX $2.26 and all of my ADZN position 43c the latter is being taken over in a scrip deal by Silvercorp TSX..wasn't keen on the Lead silver miner in china
So sitting on a large cash pile .. MAY-JUNE is generally the sale months for ASX stocks with tax-loss selling etc ... so not stressed to be kicking back still got a few Gold explorers and KSN minor GOLD/Silver Producer
Started just watching gold on the 6 monthly chart, better perspective.
"Investment Strategy
Monetary inflation, tariff barriers and preferred treatment with tax breaks and subsidies, are actually good for selected stocks, in the short run.
However, this sugar hit does not last.
There is an old Scandanavian proverb to this effect:
Don't wet your own pants in a blizzard just to stay warm."
https://www.livewiremarkets.com/wire...THE%20INSIGHTS
Gold seems to be consolidating which is not a bad thing.
The obvious question is where to from here?
With US interest rates likely to go lower in the near future, I would back higher.
The other question, what does that mean in currency gold. I.e. AUD or NZD?
I suspect NZ is as close or closer to cutting rated so overall favourable to NZD/Gold
Nah it took six months for the Perth Mint to fulfill the order, so it was airfreight to Tokyo in 4 ton shipments from memory.
I do remember the guy at the Perth Mint basically dropping the phone when I placed the order.
The biggest enquiry I got was for $10Bln of gold and this 13 years ago or so, all held by one Uber rich guy. I called BS, but apparently it was legit.
Did you guys get to see the one tonne Perth mint 2012 Gold coin? I wouldn’t mind finding that, down the back of the couch!
https://www.perthmint.com/visit/attr...nne-gold-coin/
Not that I recall .. I've seen 64,000oz Silver Bullion a mate purchased 2007... think he will do very well next several years .... Wish I had a big pile of Bullion ..sadly only got around 200oz these days ... but do have many dollars in the GOLD/Silver miners .. I like the leverage
He has a lot of silver bullion. He must have been tempted to sell it in 2011 when silver spiked to about $NZ60/oz. I just have a few Perth mint 1oz and 2oz kookaburras and lunar coins I was lucky enough to be given as gifts over the years. Some of them in great proof finish.
yes he did sell like 5000oz close to the peak back to the dealer..
yes might well add a few more silver bars to the pile be great to get back to 1000oz
Few kiwis doing it tough Cost of living etc .. seeing a few great bullion prices around on TM - facebook marketplace close to spot silver price
I was gobsmacked at the spread the physical traders in NZ were charging when I did a tour of them back in 2005ish. I think the bid offer spread on gold was something like $70 and that was when gold was trading around $US650ish.
The Aussies had much tighter spreads & most of the NZ guys source from the Perth Mint anyway.
There is a tiny refinery in Melbourne that recycles gold, but I can't remember the name of it.
Wow that's mind-blowing!
I've been thinking about Gold's pullback & is there anything more to it than a correction as the dollar strengthened & the likes of copper & to lesser extent oil all came back.
The US has delivered a handbrake to Israel recently & that should mean a little less tension to be factored in, overall though I think it's just a correction in a much bigger move higher.
Interesting view from Forbes on returning to a gold standard. Seems unlikely, but China certainly has a strong affinity to gold.
https://stockhead.com.au/resources/g...0says%20Forbes
By 'spread', do you mean the difference between retail price minus spot gold price? If so, it is half the amount that you are suggesting. As a % that's a tiny profit margin to the seller.
Gold Price 1 Troy Ounce ($NZD) $3,812.19 https://goldbroker.com/charts/gold-price/nzd Gold Price ‘NZ Pure’ 1 Troy Ounce Bar 999.9 ($NZD) $3,924.90 https://gogold.co.nz/shop/1oz-nz-pur...ast-bar-999-9/ Spread $NZD $112.71
Spread % 2.87%
By spread I refer to the price at which you can sell your gold versus the price at which you can buy gold. The “gold price” is more or less the mid point.
“The price spread is the difference between the price offered to you when you want to buy precious metals and the price bid for your bullion when you want to sell.”
I presume Daytr was referring to that usual definition of ‘spread”, as he referred to bid-offer.
Gold dealers will buy gold bullion at a price less than the quoted gold price.
Yep but the Government set the price.
I wonder who got exemptions?
Anyway I'm just pointing out that even in a country like the US the so called land of the free things like this can happen.
India has done something similar by raising duties on gold to try & modernize the rural economy.
They compensated at about $20/ounce which was the price (and face value of a gold eagle coin) for years but then they revalued gold to about $35/ounce!! Difficult times, can result in drastic actions. American exemptions included industrial uses, and a personal allowance of 5 ounces.
With respect to sovereign reserves, gold in vaults in your own country are safer than foreign currency funds. For example Russian sovereign foreign currency funds held overseas were effectively blocked as Europe and the USA prohibited transactions with Russia’s Central Bank. Whereas Gold from your own vaults would not be encumbered and Russia could use them to transact with friendly countries. China would have taken note.
Edit: Info. on prosecutions was incorrect.
To move to another definition of margin or spread or profit margin. If one buys an ounce of gold at NZ 3,000 dollars from a reputable dealer. What would the dealer offer if it was offered back to him the next day [assuming the bullion and exchange rates stayed the same].
Reportedly China has paused its gold purchases. Always hard to know with Chinese data but last month holdings stayed static after significant purchases over the last year or two.
I hear they are pretty well stocked with copper as well.
It will be interesting to see if it's a data blip or short term thing, which that latter I suspect is correct.
China probably just creating a shakeout in gold. Settle the price a bit, then buy more. They are committed to a strong gold price.
JB ...What a courageous post.
Cheers.
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/g...ked%20currency
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
A little goldie really rocking & rolling - thanks TG :)
A little goldie really rocking & rolling again some more today - thanks TG :)
still a wee way off to reach many bags
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.
The little goldie continued rocking & rolling yesterday .. up by over 250% in as many weeks .. not a bad run with likely more due :)
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.
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.
Never a dull moment in commodities! I wonder if China has resumed buying gold again.
They are approximate. Reserve Bank Inflation calculator https://www.rbnz.govt.nz/monetary-po...ion-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.
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.
Gold back to record highs.
Back over NZD4k & AUD3.6k.
Giddy up!
https://www.mining.com/global-gold-d...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
Worsening situation in the Middle East, China buying more? Interest rates starting to weaken. All add to the impetus I guess.
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/blo...t-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.