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Gold price to go steady, dips imminent?
Comments
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It doesn't matter if people use it or not, it's the fact that things like this are happening. It's in the news, it's everywhere, people see "gold this gold that", and will buy, at some point. The fact these "We buy any gold" places are popping up really show that the public is interested.
All it shows is that there are people out there who are interested in parting the public from their gold for a bargain basement price.If there were no demand, the price would not rise. Simple business studies. If people didn't want gold, the price wouldn't rise would it??
Obviously the price is determined by demand and supply - although it is artificially kept low by fractional-reserve practices in the paper market. That just tells thus there is some demand at current prices. It tells us nothing about what demand is likely to do in the future.Be it commodities or Domino's Pizza shares, if people do not want the item, the price will fall, and vice versa.
It's the same when the bubble bursts, the price continues to fall because people are selling selling selling.
Sure, but I still have no idea why you think gold is in a bubble, given the state of the global monetary system and the fact that almost nobody actually owns gold bullion. I don't see the economic problems going away. All I see is them getting worse...all over the place, and at a rapid pace.0 -
Gold plunged in New York, heading for the biggest drop in 18 months, on speculation that financial markets may be stabilizing, eroding the appeal of the precious metal a haven.
Bullion has tumbled more than 5 percent in two days, erasing gains in the past two weeks that sent the metal up as much as 16 percent since Aug. 5 to a record $1,917.90 an ounce yesterday. On Aug. 16, Wells Fargo & Co. said climbing speculative demand from investors had pushed the market into a “bubble that is poised to burst.”
Bloomberg
It's currently down around 5% today. I must admit, when I saw a post from someone on another thread on MSE earlier this week saying that they were thinking of taking out a bank loan to buy more gold I thought hmmm maybe the dumb money is now feeding a frenzy with the bubble due to burst....Hey, who knows? :think:There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
It's probably investors taking profit. there's no way it because the financial markets have stabilized. now that's just clown talk.0
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there's no way it because the financial markets have stabilized. now that's just clown talk.
Totally agree! Anyone that is speculating that clearly needs a brain transplant!
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
I keep on reading that speculative demand isn't a possibility in the market for gold. Isn't everybody buying it viewing it as money or the only true store of value (or whatever else the goldbugs bang on about)?0
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It's a shocking plunge ........... almost back to where it was two weeks ago.
The burning question is whether the doyen of MSE investment advice will be buying this time0 -
So, Gold fell US$104, or 5.6% today, to end at US$1,757. It's the steepest percentage drop since March 2008. However, it's still up 24% for the year.
You pays your money and you takes your choice.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
I keep on reading that speculative demand isn't a possibility in the market for gold. Isn't everybody buying it viewing it as money or the only true store of value (or whatever else the goldbugs bang on about)?
Anyone sensible buys Gold to make money out of it. Nothing more or less. Go back to Autumn 2008 and it was $780. It was well worth a punt, but you'd not stick your house on it.
Curiously, they were punting Gold mining outfits at the weekend as being value. I'm not sure about that for me.0 -
It gives the lie to gold being the ultimate store of value. An efficient store of value wouldn't go flying up and down in price like this.
If you want a hedge against catastrophe, farmland is better and it pays an income.0 -
It gives the lie to gold being the ultimate store of value. An efficient store of value wouldn't go flying up and down in price like this.
If you want a hedge against catastrophe, farmland is better and it pays an income.
Half an ounce of farmland please.
I will settle up the end of the month.Not Again0
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