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Has anyone seen a gold bug recently?
gadgetmind
Posts: 11,130 Forumite
They do seem to be rather quiet. I wonder why?
http://www.investmentweek.co.uk/investment-week/news/2175376/gold-falls-bear-market-territory
http://www.investmentweek.co.uk/investment-week/news/2175376/gold-falls-bear-market-territory
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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Was it lvader that said something along the lines of when the sh*t really hits the fan people turn to the dollar rather than gold? Spot on if so.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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The main reason I never invested directly in gold is I don't understand it. It is supposedly a safe haven in times of trouble but time and again I see it fall in value when panic grips the market.
I know the article you link to says this is because people sell gold to cover losses elsewhere but then they go on to talk about people holding cash currencies instead. Either they have assets in need of a haven or they don't.
As the golden rule is don't invest in what you don't understand I have stayed clear.0 -
if more people followed the golden rule, then a lot of gold would be needed to make enough golden rules, and so the gold price would rise.0
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It's insurance. Insurance doesn't pay off until it does.Free the dunston one next time too.0
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What confuses me is that gold is essentially worthless, you need a tiny amount for certain electrical circuits but holding it as an investment seems a bit mental. Like holding any commodity, it is really a bit silly. I know people who have their entire portfolio in Gold, that is a 100% investment in a single commodity.
Look at indexmundi.com, it's really interesting, did you know that peanuts are up 32% over the past 12 months, whilst Gold is up 11.48%, meaning peanuts were a better investment that Gold over the last year.
Maybe we'll see an equally moronic flight to peanuts!0 -
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Gadget- you make me laugh- I was just thinking that yesterday!!!
TBH, even though I hold some gold, I don't check the price all that often, but saw yesterday it was 1500 ish. And all those rampers are silent having told widows and orphans to invest all their money in gold at 1800 or higher.0 -
Maybe we'll see an equally moronic flight to peanuts!
is there an etf for that??? ;-)0 -
no, there is one for soy beans but not peanuts, go figure...0
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"Always believe in your soul".
But, there is a trustnet article today claiming that the euro crisis will spark a 2008 style rally.I play the game - I didnt make the rules.0
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