Thinking of buying gold bars !!

masonic

sabretoothtigger wrote: »

Boilers are expensive and for that amount of money gold would be fine so long as you have somewhere in driving distance who will cash it in for you which is probably the case with most if they wanted

Chances are the boiler catastrophe will coincide with a rather large dip in the gold price. Short-term volatility will be the main concern for someone investing their emergency savings in gold.

experience08

$1852....not long before it hits the magic $2,000 :money:

sabretoothtigger

Gold up another 1% this morning to nearly 1900 an ounce
Its roughly in line with peak prices of 2009, I dont think its massively overdone but could top out around here easily

I think 2000 for this year is a fair target

PRECIOUS METALS: Gold Touches New High In Asia; Silver Jumps 2.3% Early

By Arpan Mukherjee
Of DOW JONES NEWSWIRES

WELLINGTON (Dow Jones)--Spot gold scaled new highs in the Asia session Monday as risk aversion and a safety-first approach weighed on other markets, pushing most regional equities bourses into negative territory.

Spot gold touched a new high of $1,881.73 a troy ounce intraday, and was trading at $1,878.50/oz around 0550 GMT, up $25.40 from its previous close.

"It looks like a one-way street for gold for now," IG Markets strategist Ben Potter said. He tipped a breach of key psychological resistance at $1,900/oz in the next day or two.

Gold rallied last week as fears over global growth deepened after a lack of decisive action to alleviate the euro-zone debt crisis added to investor worries.

The yellow metal, considered a value store especially in times of market turmoil when most assets erode in value, has risen by more than 14% since the start of this month.

Still, ongoing turbulence in the Middle East--with rebel Libyan forces entering the capital Tripoli Sunday, meeting little resistance from troops loyal to Col. Moammar Gadhafi--is of secondary importance to safe-haven buyers, a Hong Kong-based trader said. "The economy is more important today."

Analysts and traders said that there is no immediate downside news that could induce a correction in gold prices, although the rapid rise has raised the risk of a pullback.

MF Global said prices could find support early in the week due to soft global equity markets and re-pricing of the odds of a recession.

It said that the market will hit key resistance at $1,946/oz and will need "an extraordinary event" to move above that level.

Silver, which has mostly lagged gold during the bull run of the past weeks, outperformed its sister metal early in the session, rising more than 2.3% to an intraday high of $43.935/oz.

"Hedge and macro funds are buying, though physical buying remains weak," while the grey metal is also gaining due to a positive correlation with gold, a Tokyo-based trader said.

Silver was at $43.58/oz, up 68 cents.

Platinum was at $1,886/oz, up $13, while palladium lost $2 to $749/oz.

Barclays Capital said potential supply disruptions are still lurking in the background as biennial wage negotiations for miners continue in South Africa, although there are concerns about demand for platinum group metals. Still, it said it expects prices to extend their gains as fundamentals remain supportive.

-By Arpan Mukherjee, Dow Jones Newswires; 64-4-471-5990; arpan.mukherjee@dowjones.com

(END) Dow Jones Newswires

August 22, 2011 03:19 ET (07:19 GMT)

Is palladium a useful investment? Or platinum are these somehow the sensible choice now

Geoff23

sabretoothtigger wrote: »

I think 2000 for this year is a fair target

I don't think you can put a number on a "fair target" for gold right now. I don't believe there is any numeric level it can get to where people will say "OK, that's now a fair price for gold." It is more to do with how the world's policymakers react to whatever happens - gold will stop going up when people look at what is happening in the world and decide that enough has been done to stablilise the world's major fiat currencies. I don't know what that will take - and neither does anybody else, because nobody knows (for examples) what is going to happen to the eurozone or what this "special commitee for making cuts" is going to decide in the US. Nobody knows whether QE3 is going to happen, or how big it will be if it does.

Sooner or later either decisions taken by policymakers or a series of events which nobody is in control of will lead to the current widespread uncertainty being replaced with a clearer picture of where the world is going. It doesn't matter so much if that picture is dismal, just so long as it is clear. What the price of gold is when that happens is anybody's guess. Could be $2500. Could be $25000 for all I know.

experience08

sabretoothtigger wrote: »

Gold up another 1% this morning to nearly 1900 an ounce

Touched $1911 just now, regret not buying more at $1500

sabretoothtigger

Ive not bought any since it was 850 or so and even that seemed high at the time. I only get miners which have been a miserable investment except silver, I think their time will come eventually just so long as they make the sales its all money

Gold peaked today, dollar not down much or up even but I keep expecting a proper price pull back. Where are all the speculators selling off their quick profits. The average price this year will keep rising over the last which is what makes the miners profits solid

Geoff23

sabretoothtigger wrote: »

Ive not bought any since it was 850 or so and even that seemed high at the time. I only get miners which have been a miserable investment except silver, I think their time will come eventually just so long as they make the sales its all money

Gold peaked today, dollar not down much or up even but I keep expecting a proper price pull back.

What level would you consider to be a "proper pullback"?

If it goes below £1060 then things might get interesting. I suspect we are in a waiting period right now though. Everybody wants to know what Helicopter is going to say on Friday.

Geoff23

Ade67 wrote: »

With gold and silver prices being so high, is it still a great time to invest?? What is the general consenus, comments would be much appreciated...

Ade

When you look at the severity of the monetary/fiscal/growth problems the world faces, and the historic value of gold and silver, I don't think the current prices are particularly high.

Geoff23

Ade67 wrote: »

I agree, i think it's a great time to invest in gold. I think there's much further to go, I only wish I's been a little wiser a few years ago. Who knows where gold prices will be in 2/3 years time on the back of the current poor economic climate. Gold is the only safe investment out there at the moment if you ask me.

I think it is misleading even to call it an investment. I think gold is money, plain and simple. It is taking on the role as the de facto global reserve currency, by default. Unless the powers that be make it illegal for private citizens to own gold bullion then it will find its own proper value with respect to however much paper currency is in existence when the politicians finally realise they have to go back to gold-backed currency. The Eurozone has 10,000 tons of gold. The US has 8000. With the price going where it is going, a return to the gold standard will be possible. It will be tougher for the UK, because of a certain fat, Scottish windbag who decided it would be a good idea to sell half the UK's gold reserves for rock bottom prices a few years back.

Ark_Welder

Geoff23 wrote: »

With the price going where it is going, a return to the gold standard will be possible. It will be tougher for the UK, because of a certain fat, Scottish windbag who decided it would be a good idea to sell half the UK's gold reserves for rock bottom prices a few years back.

A gold standard are the root of depression economics. Adherence to a gold standard exasperated the problems of the 1930's - for those countries that were on one at the time (countries that were not did not suffer as badly).

Perhaps performing a little bit of adequate research into central bank gold sales would inform you that Switzerland sold almost three times the amount of gold that the UK did, and did so around the same time.