araratgold Posted July 21, 2022 Share Posted July 21, 2022 So much for the so called experts saying the gold price is going to rise! ? Since they announced this, the price has just fallen like a stone to be now under $1700 USD for the first time in over a year! ? Well done "experts", you have mozzed us all! Rick 5 3 Link to comment Share on other sites More sharing options...
Popular Post jasong Posted July 21, 2022 Popular Post Share Posted July 21, 2022 Markets are all so highly manipulated these days it's insane. Like, it's not even conspiratorial, it's right out in the open and no attempt to hide it. We have this guy "Cramer" on a big financial channel here in the US who does a show where he supposedly helps "the little guy" out with quasi-insider advice. He used to be a large hedge fund manager. Anyways, I just watched a leaked video interview of him plainly stating he uses that show/platform to manipulate prices for his hedge fund buddies, and states outright that he'd be a fool not to take advantage of it. Also goes on numerously to state stuff like "lying is part of the game", basically say whatever you want to manipulate prices and then make the little guy pay for it all, just to make your billionaire hedge fund buddies 1 yacht richer. In either that interview or another one he talks about doing the same shady shit to manipulate commodity prices too, and he did the same thing with Bitcoin recently as well. They know all their buddies run the SEC and other regulatory agencies, so they just do it outright without a care in the world about being caught, and openly admit they are lying and cheating. No risk of going to prison. It's unbelievable how dirty it is now. Look that video up to see the words from the horses mouth. These are the same people that manipulated markets and sold dirty derivatives and default swaps, causing the Great Recession, and causing people like me and I'm sure others here to lose all their savings, and then on top of that managed to convince the government to spend trillions of our money to bail them out so they can keep doing stuff like manipulating the price of gold and causing us to lose again, and again, and again. 12 Link to comment Share on other sites More sharing options...
klunker Posted July 21, 2022 Share Posted July 21, 2022 Myself and others have recently made thousands of new gold discoveries that are accessible with minimal costs. Mining equipment and employee costs have fallen dramatically and parts, maintenance and fuel costs are of little concern. Central banks, nation states and ultra rich are all divesting of gold inventories and golds' anti-corrosive characteristics for industry just aint what they used to be. Furthermore gold has fallen out of fashion with the ladies. Yup. I see no hope for a rise in the price of gold whatsoever. So I guess I'll have to "Lay up my treasures in heaven". 1 5 Link to comment Share on other sites More sharing options...
Clay Diggins Posted July 21, 2022 Share Posted July 21, 2022 The physical price of gold is not connected to the paper COMEX futures market. It's been quite a few years since there has been a relationship between derivative paper gold and physical gold. Gold price does have a direct relationship to the purchase power of fiat currencies. If the dollar goes to zero gold goes to the moon - but so does food and fuel and all the other things we need to live. $10k-$50k gold is certainly a possibility under those circumstances but it's not something a reasonable person would wish for. Every physical gold dealer I know of will pay you more than market spot for gold. Right now most dealers are offering $25 over spot or more. Actual physical American Eagle gold ounce prices are about $120 an ounce more than the paper market price. What you see on television or market reports from pundits is often BS but the real physical market is not fooled by media hype. Look a little further than the TV and you will see that gold has risen in all currencies over the last 5 years. Our Australian friend's gold prices have risen from $1173 to $2063 today (56%). In the US during the same period gold has risen from $1200 to $1800 (66%). Please don't "invest" in gold. Gold is a zero sum game - there is no "profit" from gold. On the other hand a zero sum game is looking pretty good when the value of the dollar is tanking and household inflation is around 25% this year. 3 1 Link to comment Share on other sites More sharing options...
geof_junk Posted July 21, 2022 Share Posted July 21, 2022 On 7/21/2022 at 7:58 AM, Clay Diggins said: Please don't "invest" in gold. Gold is a zero sum game - there is no "profit" from gold. On the other hand a zero sum game is looking pretty good when the value of the dollar is tanking and household inflation is around 25% this year. I find that gold follows the stock market over long stable periods but go the other way when things are under short term deviations ( a couple of years). Remember 7½% interest double every 10 years and 10% interest doubles every 7½ years. It is inflation that throws a spanner into the work so how can you win, all you can do is try to stay stable. I guess my gold will be spent by my descendants making billionaires a bit richer. ? Link to comment Share on other sites More sharing options...
Randy Lunn Posted July 26, 2022 Share Posted July 26, 2022 Over time gold will follow inflation and hold value. Big spikes in value take a crisis. Gold has not gone up recently with the market downturn because gold is used for liquidity when people do not want to sell their stocks and people sell their gold when interest rates go up to get current income. 1 Link to comment Share on other sites More sharing options...
Norvic Posted July 26, 2022 Share Posted July 26, 2022 To me gold has kept well ahead of the vehicle price inflation cost that I use, in 1986 it took 50ozs to buy a new 70 Series Toyota Troopcarrier, in 2020 it took 35ozs to buy a new 70 series Toyota Troopcarrier, also the 2020 model is a very much refined model over the 1986 model it has A/C, coils on the front, front and rear diff lock, navigation, electric windows, central locking etc etc. but the same basic body with extra capabilities for the job of getting me to the gold. Thus I believe gold proves it belongs in a well balanced investment portfolio. 6 Link to comment Share on other sites More sharing options...
1515Art Posted August 5, 2022 Share Posted August 5, 2022 Gold and silver have rebounded a little that’s nice to see, gold looks like it hit the floor at around 1700 and at 1775 heading into the weekend. 1 Link to comment Share on other sites More sharing options...
araratgold Posted September 21, 2022 Share Posted September 21, 2022 Gold now at it lowest US dollar price in 2 years, despite what the so called " EXPERTS " predicted ! https://california-gold-rush-miner.us/gold-price-3/?fbclid=IwAR3s2SNqcEKgCwW7TnEfCrL6kD7aqd_6TXLKdaTitbH3ceLfte8j1z1bBao 2 Link to comment Share on other sites More sharing options...
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