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Thread: Gold

  1. #7876
    FEAR n GREED JBmurc's Avatar
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    Yes the bulk of my portfolio is now in IRC,WWI,EAR ... all gold plays well oversold that should bounce hard during 2019 which I believe will be a very strong yeah for the PMs

  2. #7877
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    Quote Originally Posted by Joshuatree View Post
    US$1262 an oz atm.It is now 1% up in one year!. My Goldies are very green in a sea of mainly Red.
    Im wrong.$1269.07 according to Trading economics was the gold price 1 year ago. US$ 1260.50 atpit, heading there.

  3. #7878
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    I see that the NZD price of gold is currently at $1909/Troy Oz which has had a bit of jump Up recently and is up about 3.5% this year. That is still an underperformance compared with NZ shares over the past year. However I was wondering if now is the time to add to my small collection of lovely old sovereigns.

    I saw an item recently about the Irish boosting their gold purchases as Brexit looks increasingly dire which may bring about a further collapse of the GBP Sterling. With other issues also facing the EU, with Trump and with the South China Sea issue, are the tailwinds blowing gold upwards? On the other hand are interest rates inevitably going to go higher and put a dampener on the price of gold?

    Apologies if if this is the wrong forum for a general discussion on gold.
    https://news.sky.com/story/northern-...rexit-11593769

  4. #7879
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    Gold doing well, silver is doing even better. Because silver (physical and ETF) is only 3 per cent of my portfolio, I never like to see it do well. Almost certainly it means everything else is in the toilet

    Peter Schiff (who sells metals of course) notes that silver is doing a little better than gold in his latest podcast (21.45 mark)

    https://youtu.be/L6iLPS4VF04?t=1307

  5. #7880
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    Quote Originally Posted by Bobdn View Post
    Gold doing well, silver is doing even better. Because silver (physical and ETF) is only 3 per cent of my portfolio, I never like to see it do well. Almost certainly it means everything else is in the toilet

    Peter Schiff (who sells metals of course) notes that silver is doing a little better than gold in his latest podcast (21.45 mark)

    https://youtu.be/L6iLPS4VF04?t=1307
    Silver value is more industrially based I guess. Also the trouble with silver is that the premiums seems to be higher. Compared with gold, there also seems to a greater risk of discolouration and other environmental effects which could destroy the higher premiums.

    What do you think about platinum (and palladium)? Will platinum continue its downward spiral with Diesel engines on the way out?
    Last edited by Bjauck; 30-12-2018 at 09:07 PM.

  6. #7881
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    Yes, silver premiums are huge. Tarnishing never affects value, however: An ounce of silver is an ounce of silver.

    I don't know much about platinum. My small PM holding is just a little bit of last resort insurance and I hope I never make any serious money off it
    Last edited by Bobdn; 30-12-2018 at 10:51 PM.

  7. #7882
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    Anyone who has read my posts will know I am a bit of a doom merchant, but I see gold jumped 1% overnight and may crack $1,300.00oz. My gold producers are up 65% over the last couple of years EVN, NCM & NST as well as RMS a leftover from when I got wiped out years ago and it went into the bottom draw. Only small amounts invested as I have no faith in my ability to see into the future and I see gold as a speculation rather than an investment so not willing to invest life changing amounts in gold companies but my theory is that if Central Banks continue with money printing and low interest rates eventually faith in cash will wane and gold will be seen as a more valuable currency alternative. As long as central banks around the globe continue to hold gold it should have some value as a currency. If stock markets continue to fall it won't be long before interest rates fall and more bond buying begins (or some other "innovative" financial engineering i.e. money printing) surely this is positive for gold. I am tempted to become a momentum speculator but know this is dumb as my understanding of the global market for gold, production statistics and actual gold mining is non-existent. What are other peoples views on the price of gold. I am tempted to just dive in and make a significant speculation based on recent success. (I think there is a name for that way of thinking like recency bias or something)
    Last edited by Aaron; 04-01-2019 at 10:26 AM.

  8. #7883
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    These are the sort of doom sayers I am reading.

    https://www.zerohedge.com/news/2019-...-beginning-end

    Might be a bit out there but looks like they are trying to use facts to support their arguments.

  9. #7884
    Senior Member airedale's Avatar
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    Hi Aaron, my view is that the US$ index has peaked and is declining. POG is inversely related to the $ index. As the index declines then POG will increase. That makes Aussie gold producers more profitable. I have stayed away from political discussion about market rigging etc. when the $ index increases again then the party is over until the next time.

  10. #7885
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Aaron View Post
    Anyone who has read my posts will know I am a bit of a doom merchant, but I see gold jumped 1% overnight and may crack $1,300.00oz. My gold producers are up 65% over the last couple of years EVN, NCM & NST as well as RMS a leftover from when I got wiped out years ago and it went into the bottom draw. Only small amounts invested as I have no faith in my ability to see into the future and I see gold as a speculation rather than an investment so not willing to invest life changing amounts in gold companies but my theory is that if Central Banks continue with money printing and low interest rates eventually faith in cash will wane and gold will be seen as a more valuable currency alternative. As long as central banks around the globe continue to hold gold it should have some value as a currency. If stock markets continue to fall it won't be long before interest rates fall and more bond buying begins (or some other "innovative" financial engineering i.e. money printing) surely this is positive for gold. I am tempted to become a momentum speculator but know this is dumb as my understanding of the global market for gold, production statistics and actual gold mining is non-existent. What are other peoples views on the price of gold. I am tempted to just dive in and make a significant speculation based on recent success. (I think there is a name for that way of thinking like recency bias or something)
    I certainly believe the boom times we have seen in the major ASX Gold producers will feed down to the much unloved micro-cap Gold developers/explorers and new producers ..

    we have just seen usually consertive Macquarie Bank sign a 107mill loan agreement with CMM (50mill micro-cap) really BULLISH sign along with the AUD gold price break to new all time interday highs this week

    Not that the likes of RMS can't go much higher just that the likes of EAR,IRC,WWI of the market could well muti bag
    Last edited by JBmurc; 04-01-2019 at 12:22 PM.
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  11. #7886
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    Turned myself into a prospector over the last week and been panning for gold on the West Coast. Loads of fun and even came back with some as a souvenir. Its easy to see why people get the gold bug

  12. #7887
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    Quote Originally Posted by minimoke View Post
    Turned myself into a prospector over the last week and been panning for gold on the West Coast. Loads of fun and even came back with some as a souvenir. Its easy to see why people get the gold bug
    Sounds like fun but I think I will stick to investing in gold miners. Did you get an ounce? nearly $1,300 US for a weeks work.
    Last edited by Aaron; 31-01-2019 at 08:45 AM.

  13. #7888
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    Quote Originally Posted by Aaron View Post
    Sounds like fun but I think I will stick to investing in gold miners. Did you get an ounce? nearly $1,300 US for a weeks work.
    Sadly not an ounce. The potential thought is certainly there. With a bit more practice and better targeted efforts that would be achievable. Might have to plan me a longer trip next time.

  14. #7889
    Senior Member airedale's Avatar
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    I knew an old guy in Cromwell, he used to do a bit of prospecting and on his mantelpiece he had a row of little medicine pill bottles full of gold he had panned or dug.

  15. #7890
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    Quote Originally Posted by airedale View Post
    I knew an old guy in Cromwell, he used to do a bit of prospecting and on his mantelpiece he had a row of little medicine pill bottles full of gold he had panned or dug.
    Yes certainly good Gold country around here >> I should get me a backpack dredge
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