Gold still going up, why?

[Deleted User]

Seems to be a strong bull run for gold at the moment, does anyone know why? is a china buying it up?

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/05/bcnchina105.xml

With a look at some of the futures market prices set to push the price up further, I decided to wack a small bit into an internet price tracker/bullion dealer until i get an incling that the bull will end.

Goldmining companies are probably not the most profitable in the world hence i dont normally invest in them but on the strength of this current market decided to get into CGM (china gold mines PLC) had a look through all of them on the aim index and this seemed the best bet as a producer in a country where things are cheap and also seemed to have good prospects. Its also mining 25,000oz and believes to be upping this in 3 years to 150K oz.

Any mining experts out there? This seem like a good investment? I have concerns about the risks esp political ones so am only in on what i can lose. Also had a look at things like cluff gold and mercator which are also producing any thoughts? What mining funds are people invested in?

purch

Gold is and always will be a 'safe haven'

added to that is the huge demand from China India and similar countries........

added to that is that the price of Gold is in many experts opinion 'historically' low.........

[Deleted User]

Everywhere I read people say the same thing, gold is money... safe haven... wealth protection. No real logic to it but hey if everyones doing it to decrease there exposure to the credit fiasco might as well join in and profit from it

ManAtHome

Page I came across some time ago - might be of interest http://www.finfacts.ie/Private/curency/goldmarketprice.htm

Largest historical rise *since 1800) was the late 1970s, then dropped, now going up again...

dolce_vita

The story of gold being desirable and valuable for thousands of years is well known. It appears to have an intrinsic quality that has survived the passing of ancient governments, economies and civilisations.

More recently (the past 40 years or so), its price has gone up whenever there has been either

1. economic uncertaintanty or
2. a threat of major conflict or
3. a fall in the value of the dollar

What is happening right now?

I would say all three.

Which is why I have just increased my stash by 20 ounces.

conspirator

Red wine FTW!!

Aged spirits, cigars and wine is worth more than gold, interesting thread though

dolce_vita

Gold is and always will be gold.

You can't eat it, drink it, smoke it or drive it.

But while you hold it you will always be able to eat, drink, smoke or drive regardless of what any other currency is doing.

[Deleted User]

conspirator wrote: »

Red wine FTW!!

Aged spirits, cigars and wine is worth more than gold, interesting thread though

Good point that also sounds like a good way to defensively invest ive also read about wine too but I dont think its as easy to get into and so probably not for me. The site i read says there are certain types of french wines to get from certain places. Stash them for a while and returns can be 10% to 15% for every year but you need at least 5Ks worth of cases to start with to easily deal them when you want to cash in.

[Deleted User]

dolce_vita wrote: »

Gold is and always will be gold.

You can't eat it, drink it, smoke it or drive it.

But while you hold it you will always be able to eat, drink, smoke or drive regardless of what any other currency is doing.

How barmys that sound :beer::j

Heres a piece of yellow metal now plough my fields for a month :rotfl:

ManAtHome

Dunno - I still reckon that lead will be more valuable if there's a real meltdown...

Strangely enough, gold didn't move much at all during WW1 and 2.

dolce_vita

ManAtHome wrote: »

Dunno - I still reckon that lead will be more valuable if there's a real meltdown...

Yeah. I can just see my missus face when I give her a beautiful lead necklace for christmas.

:rotfl: :eek: