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Comments
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The Aussie dollar isn't. Gold is lower than this time last year in Aussie dollars, i.e. gold is in freefall vs the Aussie dollar.
For the last 50 years all sorts of people in Australia have used the Aussie dollar as money.
If you think the Aussie dollar will outperform monetary precious metals over the next few yrs then I have to disagree with you!0 -
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tomsanderson617 wrote: »
But yes you are right goldand silver are world markets, all the worlds currencies are in freefall in relation to gold and silver.
Gold price @ 11 November 2011 - £1108.61
Gold price @ 9 November 2012 - £1091.18
Doesn't look like sterling is in freefall in relation to gold to me.0 -
Gold price @ 11 November 2011 - £1108.61
Gold price @ 9 November 2012 - £1091.18
Doesn't look like sterling is in freefall in relation to gold to me.
What he meant was that they will be in freefall once housing benefits are capped, all repossessions have been cleared out and nobody will be accepting fiat currency as payment. And you probably didn't know this, but batteries need lots of silver and probably gold as well. At least 5 ounces of gold per battery I read on some blog.
He also forgot to mention he always buys in dips, so you quoting comparisons between last year and present is irrelevant really.0 -
tomsanderson617 wrote: »No all the gold used in industry is got back its only silver that gets used up 50percent of mined supply every yr.
What happens to the 50% of the mined supply that isn't used by industry?0 -
Australia or your nearest Koalaruggedtoast wrote: »Where does one obtain these Aussie dollars from?tomsanderson617 wrote: »If you think the Aussie dollar will outperform monetary precious metals over the next few yrs then I have to disagree with you!
Australia own a gold mine I think, I wonder how many central banks produce not just hold gold. I think they do. China was one of the worlds largest gold miners, now production is channelled to back the currency apparently and its still 1% backing only?
Have a look at 2009. UK QE started this year, I bought gold then and it rose alot. I regretted not buying more in the spring dip but if you down under you lost money buying gold, you should have just held plain notes and collected the interest
It could be true now maybe, depends how well their export demand is going, ultimately that might determine how popular the currency is and useful to hold onto
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