The Price of Gold: Does It Matter?

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PhuBai68
Posts: 486
Joined: Wed Jul 05, 2017 3:23 pm
Location: Pickens County, SC

Re: The Price of Gold: Does It Matter?

Post by PhuBai68 » Sat Apr 04, 2020 12:23 pm

Gold: $1,637.40 +6.70
Silver: $14.59 +0.15
Platinum: $733.05 +9.95
Palladium: $2,253.85 +47.85
Updated: Fri Apr 3

The North Koreans actually were counterfeiting 50 and one hundred dollar bills that were almost perfect.
$400,000 got you one million in N. Korean "super notes".

My son way back invested in silver, I believe when it was about $26 or $28.
It was at $32 and I went to a place that buys gold and silver and asked about selling it, they were paying $4 an ounce less than market.
I have a friend who went to sell his gold eagles, same thing, he was offered (I believe) a couple hundred less than going rate.
The lesson is •••
Gold and silver are just like everything else - they're only worth what you can get for it.


https://www.telegraph.co.uk/news/2017/1 ... rth-korea/
It's not diversity, it's displacement.

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Wade Hampton III
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Joined: Fri Oct 18, 2013 10:40 pm
Location: Pontiac, SC

Re: The Price of Gold: Does It Matter?

Post by Wade Hampton III » Thu Apr 16, 2020 2:10 am

"Gold extended its rally to hit the highest in more than seven years on concern that the coronavirus pandemic will have a deep effect on the global economy, hammering corporate earnings while supercharging demand for havens. Gold prices in New York moved closer to $1,800 an ounce, a level last seen in 2011. Spreads between futures and spot prices remain wide, suggesting thinner liquidity, which is further exacerbating price dislocation. 'Liquidity conditions are challenging and market participants are understandably cautious,' said precious metal strategist Joni Teves....Bullion has soared this year as the global heath crisis tipped economies toward recession and spurred central bank interventions....Overall, gold still has room to run, according to Hans Goetti, founder and chief executive officer of HG Research. 'What's happening here is that the Fed is expanding its balance sheet and every other central bank in the world is doing the same,' he told Bloomberg TV. 'What you're looking at is massive currency debasement in the long term. That's the major reason why gold is higher, and I would think that over the next few weeks or months, we're probably going to retest the high that we saw in 2011.'"

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