Gold Price Discussion

[Outback]

Gold hit it's all time high earlier today in our currency !

Going over $1900

Could be over $2000 before this years prospecting season even starts

 

[diggit]

$AUD vs $USD took a nosedive this week also which plays a role in the $AUD price increase but gold is looking bullish.

 

[yep]

it was a wild week upward with gold hitting a new high even though for a short time with the AU weakening dramatically to $66.00 v US because of china's slowing growth,the weakest since the GFC in 2008 to the point were apple iphones sales in china fell 10%

the AUD bounced back to $71.00 with gold finishing the week at $1804.00 just $14.00 below last weeks close

The golden Rule - whoever owns the gold makes the rules erfect:

 

[user 4386]

it was a wild week upward with gold hitting a new high even though for a short time with the AU weakening dramatically to $66.00 v US because of china's slowing growth,the weakest since the GFC in 2008 to the point were apple iphones sales in china fell 10%

the AUD bounced back to $71.00 with gold finishing the week at $1804.00 just $14.00 below last weeks close

The golden Rule - whoever owns the gold makes the rules erfect:

Gee, I thought we were much worse against the $US - only $0.70 or so

 

[user 4386]

Precious metals are way under priced , most other asset classes are artificially overvalued & are about to hit the wall .
Having money in a bank account is dangerous now , Why ? because the Govt voted in bail in law' Feb this year !

All our banks can confiscate deposits if needed to help stop their collapse .
The dream Govt guarantee of $250,000 per account is just not possible !!! :argh:

"The dream Govt guarantee of $250,000 per account is just not possible !!!" - but don't tell people because we need them to think it is....!

 

[MacRob]

Yellow starting to dip considerably at the moment. The big question is how is $2000 AU looking this year?

 

[Outback]

This recent video explains what is being done to the gold price , it will be a real eye opener for many ! :8

[video=480,360]https://youtu.be/hjdhIIcfftU[/video]

 

[thedigger]

$1910 AUD $61.42 gram

 

[RM Outback]

:Y: and still going up

How long for is the wedge question :|

 

[user 4386]

Gold has moved little in the last six months, it has been about $US1310 plus/minus 30 dollars (its price is set in American dollars). Most of the movement in the $A price of gold is our crashing dollar, which has been in steady decline relative to the $US over that time. So - good if you have some in Australia and only want Australian dollars when you sell - but it does not say there is any significant fundamental change in the gold price (demand etc).

However, with Trump at the helm, watch this space.....

 

[madtuna]

Gold has moved little in the last six months, it has been about $US1310 plus/minus 30 dollars (its price is set in American dollars). Most of the movement in the $A price of gold is our crashing dollar, which has been in steady decline relative to the $US over that time. So - good if you have some in Australia and only want Australian dollars when you sell - but it does not say there is any significant fundamental change in the gold price (demand etc).

However, with Trump at the helm, watch this space.....

I sell a bit to the US. The low Aussie dollar make our gold more attractive to many Yankadonians and there is healthy significant fundamental change in MY gold price (demand etc). :Y:

 

[user 4386]

Gold has moved little in the last six months, it has been about $US1310 plus/minus 30 dollars (its price is set in American dollars). Most of the movement in the $A price of gold is our crashing dollar, which has been in steady decline relative to the $US over that time. So - good if you have some in Australia and only want Australian dollars when you sell - but it does not say there is any significant fundamental change in the gold price (demand etc).

However, with Trump at the helm, watch this space.....

I sell a bit to the US. The low Aussie dollar make our gold more attractive to many Yankadonians and there is healthy significant fundamental change in MY gold price (demand etc). :Y:

Yes that is what I mean - but it is cashing in on currency fluctuations not on any fundamental change in the gold price in the currency it is set in.

Not sure why the yanks would see the low Aussie dollar would be any advantage - they have to pay the same price in US dollars per ounce because they have to pay many more Australian dollars per ounce. It is not like buying something like lamb, which would actually be cheaper in $A (i.e. they are setting the gold price even though we set our lamb price).

 

[Araratgold]

Just smashed through AUD $2000 per ounce for the first time in history.

Where will it end ???????????

Rick

 

[Ramjet]

 

[user 4386]

It will probably keep going up, because most of the increase you see is not the price of gold (which is set in $US) but the continuing crash of the $A exchange rate against the $USA. And our dollar is likely to keep losing value (good for any Australian selling gold in Australia, but not all that great for anyone else - except our exports). Its actual price has actually only gone up about 2% since 2013 and is down 36% since 2011. Americans who bought gold would not be all that excited - they would have lost a lot of their money if they bought it any time since 2011 and did not sell before 2013 (before 2011 would be fine, but that is 8 years ago - 2002 would be brilliant, but that is 17 years ago). You would make more money putting it in a bank savings account over the last 8 years.

So one should really speculate on the Australian dollar not the price of gold, unless you speculate on financial crises (which are quite possible within 2 years) - but it is great now if you are an Australian who has some - so long as you don't want an overseas holiday or need to buy a car in the next year.....and don't mind an increased petrol price. The gold price itself has been miserable since the global financial crisis around 2011/2012. If I had a lot I would wait for the next crisis to sell.

 

[Outback]

Gold is going higher in US dollars as well , ignore the stupid exchange excuse !

Jack

 

[stevewilko]

Hi All

Historical weekly price chart years 2011- 2015 - 2019 shown.

Includes a near term 2019 Gold price forecast by video.

https://www.elliottwave.com/Metals/...-1-2-Years-of-the-Trend-and-the-Turns-in-Gold

If this doesn't load directly from here, please cut and paste into your browser or go to elliottwave.com

Cheers.
Currently the forex USD AUD is helping magnificently in this market.

 

[Ded Driver]

this baby was in the news yesty, on its way to the New York Stock Exchange for display
http://www.perthmint.com/1-tonne-gold-coin.aspx
https://www.news.com.au/finance/col...e/news-story/e30c2c821f319a293b3076458d99572c
that's 32150.7 Troy Oz ... multiply by the current gold price .. :goldnugget: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money: :money:
more than Au$65M

 

[SimKlay]

Haha, that seems a tad unnecessary.

 

[Brutus and me]

I bought my first few ounces a few weeks ago. With more to come.
I think within the next few years, especially if Trump gets re elected, countries will start to move away from the US dollar.
Quite a few countries are talking about it already. The more tariffs this guy imposes the better it will be for gold prices.
Once China, Russia, Venezuela, Iran, Poland, India and the like realise the benefits far outweigh the negatives it will happen.
On the other hand if you own US dollars i wouldnt be holding onto them for very long.