Gold Fades From Investment Picture

doughnutmachine

Perelandra wrote: »

You think that's bad? I hear that there is some concern about the wording of the referendum question:

"Do you think that the United Kingdom should be a member of the European Union"

might need to be changed, in case voters don't realise that we are already part of the EU.

Honestly... if people don't realise that we're part of the EU, they shouldn't be allowed to vote!

I suggest two questions:

"Is the United Kingdom part of the European Union" and
"Do you think the UK should remain part of the EU"

would sort things out. Anyone who answers "no" to the first has their vote to the second vote disregarded.

a hundred years ago you would need to be a male, protestant, property owner to vote. I can't help thinking that's the right way to run a democracy, letting someone get the vote just because they made it to 18 means a lot of half wits get the vote

Imho letting woman vote was the reason Britain lost it's empire.

grey_gym_sock

perhaps ppl who troll too blatantly on internet forums should lose the right to vote.

gadgetmind

planteria wrote: »

and i don't know about 'bugs' per se, but wise investors look to buy low & sell high....with gold aswell as property and equities

Agreed, but that's not what you see with gold bugs. They don't show any interest in assets other than gold, only come out of the woodwork when the price is at long-term highs, and rather than seeming to want the price lower so they can buy more (as I'd hope most of us view equities and property) they do all they can to encourage others to buy and ramp the price.

Being generous, this is all a ruse and behind the scenes they are selling into their ramping.

Being realistic, they are all as nutty as a fruitcake.

A_Flock_Of_Sheep

SGLN - iShares Physical Gold Price 1669p

SGLN - iShares Physical Gold Sell 1660p

So you are already down 9p per share when you buy in.

Who dreams up these bid offer spreads - and this EFT is consistently rubbish in this.

Converesly MIDD: 1523 / 1521 so only 2p!

brasso

gadgetmind wrote: »

Agreed, but that's not what you see with gold bugs. They don't show any interest in assets other than gold, only come out of the woodwork when the price is at long-term highs, and rather than seeming to want the price lower so they can buy more (as I'd hope most of us view equities and property) they do all they can to encourage others to buy and ramp the price.

Being generous, this is all a ruse and behind the scenes they are selling into their ramping.

Being realistic, they are all as nutty as a fruitcake.

I don't disagree with your general view, GM, but weren't you railing against 'fiat currency' earlier and promoting bitcoins? Or were you being sarcastic? Apologies if you were.

The language and glassy-eyed gaze of the bitcoin bugs remind me strongly of gold zealots.

gadgetmind

Yes, heavy sarcasm, hence the honk and gibber.

I actually lifted some gold bug wording from a web site and just replaced "gold" with "bitcoin"!

Glen_Clark

A_Flock_Of_Sheep wrote: »

SGLN - iShares Physical Gold Price 1669p

SGLN - iShares Physical Gold Sell 1660p

So you are already down 9p per share when you buy in.

Who dreams up these bid offer spreads - and this EFT is consistently rubbish in this.

Converesly MIDD: 1523 / 1521 so only 2p!

I guess the bigger spread is a reflection of the risk the dealer is taking by holding gold.
If the price of shares dropped I wouldn't be concerned because they are worth keeping for their dividends. So I don't need to sell them.
Wheras if the price of gold dropped I would be concerned because the only way to get your money back is to sell it. Who wants to keep a lump of useless metal if nobody wants to buy it?

IronWolf

Lol looks like we still have some gold bugs around.

I love the 'paper promises' theories, it sounds convincing until you realise that this is how every single commodity in the world is traded. Most traders that deal with gold futures have absolutely no intention of ever taking physical delivery, just like most oil futures traders have no intention of ever taking physical delivery. So it doesn't matter that there isn't enough gold to fulfill all the promises.

The problem with gold is that there is no sustained demand, it has no industrial uses, so the price doesn't follow the usual supply/demand cycles like other commodities. It is solely based on investor sentiment, and relying on the 'greater fool' to buy it at a higher price.

IronWolf

A_Flock_Of_Sheep wrote: »

SGLN - iShares Physical Gold Price 1669p

SGLN - iShares Physical Gold Sell 1660p

So you are already down 9p per share when you buy in.

Who dreams up these bid offer spreads - and this EFT is consistently rubbish in this.

Converesly MIDD: 1523 / 1521 so only 2p!

Bid/offer spreads are determined by the market as a whole, not an individual. The more market makers there are, and the more the shares trade, the tighter the spreads will be as market makers compete with each other.

brasso

gadgetmind wrote: »

Yes, heavy sarcasm, hence the honk and gibber.

I actually lifted some gold bug wording from a web site and just replaced "gold" with "bitcoin"!

I]wipes sweat from brow[/I

Oh phew, you've no idea how relieved I am .

I was thinking, oh god, if they've even brainwashed Gadgetmind, there is really no hope....