GOLD

[Nevl]

sounds good to me Nevl but would people put much faith in the govt

No different to a Govt bond cept we don't have to pay interest and have the obligation to dig up the gold one day. Also people seem to have confidence in the Kiwi $

[peat]

Just leave it there and just sell the ownership certificates.

Quite frankly thats a ridiculous idea. Although I may be overestimating peoples intelligence I dont think you'd get too many takers on that one

It doesnt take into account the primary reason why people buy gold and accept it as a store of wealth

People believe that in a time of systemic financial system breakdown (when all fiat currencies effectively become worthless ) that their gold or silver may still be able to get them goods and services...

I dont think those certificates would work too well in that scenario as they are just another fiat currency.... backed by the same people who (at that stage) will have failed you in the previous one.

[JBmurc]

well peat I think you find in both gold an silver case many people own an trade paper precious metals it actually makes up 95% of all silver traded daily is paper with no-doubt no backing of real silver tis the reason why real silver isn't worth $50oz+ atm when Goldman's an the likes can short sell millions of oz with free paper money from there mates at the FED
but the paper system won't last for ever- It's shown signs of collaspe esp .USD

personal I'd rather hold the real thing...

[Nevl]

Quite frankly thats a ridiculous idea. Although I may be overestimating peoples intelligence I dont think you'd get too many takers on that one

It doesnt take into account the primary reason why people buy gold and accept it as a store of wealth

People believe that in a time of systemic financial system breakdown (when all fiat currencies effectively become worthless ) that their gold or silver may still be able to get them goods and services...

I dont think those certificates would work too well in that scenario as they are just another fiat currency.... backed by the same people who (at that stage) will have failed you in the previous one.

actually its exactly how the system works at the moment but if you wanted the gold. Instead of going to the NYC fed reserve and then filling out forms and showing your certificate and then hiring bodyguards and security guards to carry the gold. The NZ govt would undertake to dig the gold up and mine it and deliver it if you ever needed it, and in the world that you are thinking of where the modern economy has collapsed then there is no way i would swap my food or shelter for a bunch of yellow bars no matter how pretty. Sorry in that world food and Iron and weapons would be the most valuable commodities. Not gold.

[fwu005]

Hi,
I'm new to this. How to invest in gold ?
What is the good gold list companies in NZ and Australia ?

cheers

[winner69]

Have a look at LGL Lihir Gold

Probably one of the 'cheapest' producers on the ASX / well positioned to do even better if the price of gold jumps again / and big enough that if Newcrest want to get more gold reserves to balance their overweight copper position Lihir would be the target

[shasta]

Hi,
I'm new to this. How to invest in gold ?
What is the good gold list companies in NZ and Australia ?

cheers

AGG have 5m/oz gold production (+ some uranium to boot)

[JBmurc]

well if your after bigger gains but with little more risk buying gold jnrs like -CVX,NAV,IAU reason being the costs to find decent discoverys an time frame to get into production means most majors like NCM,NEM,LGL etc are far better taking over jnrs than exploring new areas an as GOLD price moves futher north so will the value of gold discoverys

[shasta]

JBMurc

You still holding TRY, have looked into them a bit more & like there no nonsense style of getting on with it

[JBmurc]

yeah still have a indirect holding sold my direct holding at- 2.19 - to invest more into CFE NAV mainly for a short term trade play both should head higher
Do plan to buy back into TRY again before they start producing in S.A just didn't see their SP moving much in the next couple months with the loss for the halfyear not helping buying strength

late 2010 TRY will be north of $3 IMHO

IMHO it's only a matter of months till Gold silver breakout north

Jason Hommel writes:

"The CFTC is the Commodity Futures Trading Commission, and their job is to regulate futures contracts, to prevent fraud. But they protect and encourage fraud! How? They place position limits on the longs (and there should never be limits on what you can buy in a free market), but they refuse to place and enforce position limits on the shorts (who fraudulently sell what they do not have). If anything, to prevent fraud, they should limit the shorts, and not limit the longs.

Also, it is well known that JP Morgan is a major precious metals short, but the CFTC does nothing.
http://www.caseyresearch.com/displayGsd.php?id=106

http://www.investmentrarities.com/te...02-16-10.shtml

Here are a few links of importance.

This shows that the notional value of JP Morgan's derivatives exceed $72 trillion.

http://www.occ.treas.gov/ftp/release/2009-161a.pdf"

From a hard hitting article by Jason Hommel relevant to both gold and silver at http://silverstockreport.com/2010/cftc-meeting.html