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Silver threads amongst the gold
le_loup
Posts: 4,047 Forumite
Delighted to see that precious metal rampers who used to be themselves rampant, have decided to obey the wishes of MSE and have stopped their activities.
Well done.
............... or could there be another reason?
Well done.
............... or could there be another reason?
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Comments
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What's odd is the gold is now a massively better investment that when it was up at dizzy heights. Of course, it might be even cheaper in a few months ...
Equity investors such as myself like low prices and find ourselves somewhat bemused when it all gets a bit toppy. Gold bugs seem to be the other way around, which is deeply odd.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.0 -
Bargain prices at moment in PM's - might buy up some more ;-)0
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Don't think I'm a ramper of gold, but I do buy it (physical) and have mentioned on here when I have bought.
I'm a little dissapointed by the OP in this thread. Whilst the OP may not like gold as an investment it does not give a person the right to be judgemental about fellow members choices.0 -
What about the miners. Thats an actual investment, the metal never was.
Are they reasonable to hold for a yield, you cant get a more unpopular buy right now with market high.
Some of them are in trouble with higher mining costs then market will pay. So they have no product really.
Others continue to make profits, surely a bargain.
Centamin is 3 PE, no debt and profits every day if it wasnt for a possible islamic nationalist government confiscating their license without compensation ala Iran it'd be a no brainer.
ABG is coming up 8% yield and think its still making profit. Quite a few of these miners are lumpy, needing investment while price falls but its possible its overdone
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gadgetmind wrote: »What's odd is the gold is now a massively better investment that when it was up at dizzy heights. Of course, it might be even cheaper in a few months ...
Equity investors such as myself like low prices and find ourselves somewhat bemused when it all gets a bit toppy. Gold bugs seem to be the other way around, which is deeply odd.
Tell me about it. I'm dying for a stock drop!
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Perelandra wrote: »Tell me about it. I'm dying for a stock drop!
I think this is one of the final investment tenets to click into place with most people. High prices only favour someone who has all the equity holdings they ever want and are about to flog the lot for some reason. In all other cases, you're better with prices being low.
Celebrating high share prices makes no more sense than celebrating high prices for houses or fuel. Buffett recently made a remark about a commuter welcoming high fuel prices because he'd recently filled his tank.
Of course, none of the above applies to those who are sitting on a load of cash, "waiting for a correction", and have been since the FTSE was at 5000!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.0 -
That's the whole point.markwilkinson wrote: »Don't think I'm a ramper of gold, but I do buy it (physical) and have mentioned on here when I have bought.
Why?
Do you really think we care what you have bought (or sold) any more than YOU would care if I told you when I have bought any other asset or even a pound of mince from the butcher.0 -
To be fair, people do mention when they have bought some shares and/or property.
However, they don't tend to rant on about shares in xxx being the only shares worth holding, or that equities are the only asset class that can survive the debasement of fiat currency, and all the other nonsense we see from gold rampers.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.0 -
Let me recommend the World Gold Council (WGC) "Gold Demand Trends Q1 2013" report.
Central Bank purchases are steady, though slightly less than previous.
Technology and electronic demand is still dropping......I put this down to continuing economic problems.
The most revealing news for me, was that despite outflows from gold ETF's, the WGC claim that "a proliferation of reports over recent weeks note a shift from ETF's into allocated metal accounts" (p.5)
So perhaps the need of some for liquidity, might be balanced by others taking a defensive long position. But remember, the WGC represents gold miners, suppliers and distributors...and the claims are not sourced.
Enjoy a decent read this weekend.
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Whats an example of an "allocated metal account"? Something like Bullionvault?0
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