Gold Price Discussion

[Gold Mbr2020]

Would be great if I had accumulated an oz. Still a long way to go I'm afraid.

 

[Rusty_G]

It's pretty amazing stuff. I can imagine there is a lot of Gold being sold right now.

 

[Jaros]

Today 2841.40 Aus.

 

[Sandbagger]

It just dropped a couple of hundred dollars. Anyone care to speculate why?

Will it go back up again?

I've heard outlandish rumours of incredibly high prices coming our way.

Baz.

 

[Ded Driver]

Apparently in the news media today investors are giving a big sigh of relief over Russia releasing news they have a CV19 Vaccine, & hence selling off their gold stocks.
Might just be a bit pre-emptive hey ... might be a good time to jump in & grab some gold at the cheaper rate ... this is not advice, just speculating.

 

[RM Outback]

Yep Russia's vaccine announcement has put the world in a spin :lol: The part I find difficult to understand is all the so called experts allow it all the while expecting their ridiculous salary and bonuses :|

 

[Outback]

Gold & Silver are the only real money ' there buying power will overwhelm any paper fiat currency .

The money you have in the bank is on loan to that bank , its not your money anymore !

Bail in laws were passed back in Feb 2018 ' late at night with all the major parties saying yes ' including the greens .
What that mean ?
Simple wording means they can take your bank deposit when needed to support a Bank collapse . :8

Jack

 

[Gem in I]

It just dropped a couple of hundred dollars. Anyone care to speculate why?

Will it go back up again?

I've heard outlandish rumours of incredibly high prices coming our way.

Baz.

IMO some investors just taking profits.

 

[Dihusky]

Both Gold and Silver took a dip, but both will go back up, just a bit of profit taking and big boys trying to control or manipulate depending on how you see it.

With the world economy in serious s*#t and printing presses rolling 24/7 Gold and Silver are seen as a safe haven of true value. Gold could hit US$3k or more and Silver US$50 is not an impossibility as most want to see the Gold/Silver around the 1:60 mark.

 

[Mike678]

Buy Bitcoin ! No, I do not have any at the moment ....

In Aug . 2016 I had 10 paid $793 each for them .

 

[Benj308]

I think it might of dropped over speculation of a COVID vaccination.

 

[Mr Magoo]

Buy Bitcoin ! No, I do not have any at the moment ....

In Aug . 2016 I had 10 paid $793 each for them .

I came across someone (don't care who) that offered better rates if you paid by bitcoin than credit card.

 

[Outback]

Strong probability that Gold will soon be physically settled at a global price when Basil 111 rules come into effect at the end of June this year .


Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. The measures aim to strengthen the regulation, supervision and risk management of banks.
Effect on Gold :

Basel III rules move physical gold from being considered a Tier-3 asset to being considered Tier-1, which allows physical gold in bullion form to be counted at 100% value for reserve purposes. Gold in unallocated paper contracts will no longer be considered an equal asset.

On the 28th June 2021 Basel III will change the spectrum of how Gold is valued.

Explanation :
[video=480,360]https://youtu.be/iFWna9qBvPk[/video]

Whats it all mean ? Good chance the end of price manipulation , then Gold & Silver will trade at there true values :Y:

 

[Davent]

So does this then mean that government will look to increase their gold reserves?

If so, it may make it more difficult for prospecting on a part time basis, with ELs and mining leases being snapped up, and existing leases put to work.

 

[Outback]

So does this then mean that government will look to increase their gold reserves?

If so, it may make it more difficult for prospecting on a part time basis, with ELs and mining leases being snapped up, and existing leases put to work.

Davent ,
Our gold reserves are just about non existent ' we did have a couple of hundred tonnes until a turd poly sold almost all at a very low price some years ago .
At least we have the second most world gold production , this could save us some from whats coming .

Yes about future gold prospecting , can see a govt license coming it for small time prospectors .

I do expect both Gold & Silver to go bonkers after Basel 3 comes into affect & When the average person understands what there money is really worth as it go's down in purchasing power .

The manipulation of Gold & Silver has always been about protecting the hegemony of the US dollar

Cheers
Jack .

 

[Mike678]

If gold and silver go up , there will be more looking and digging ! By miners and fossickers .

 

[Goldtarget]

How much we talking Jack, 10%, 50%, 100%, more? On what time frame post change?

If I had more liquid funds Id take copper, almost certain its going to go double where it is now before 20 months is up, which in relation to its current price seems unrealistic, but Im hearing this from all the places that pegged the current price 12 months ago.

Gold isnt my wheelhouse so Im appealing to your insight.

 

[Outback]

How much we talking Jack, 10%, 50%, 100%, more? On what time frame post change?

If I had more liquid funds Id take copper, almost certain its going to go double where it is now before 20 months is up, which in relation to its current price seems unrealistic, but Im hearing this from all the places that pegged the current price 12 months ago.

Gold isnt my wheelhouse so Im appealing to your insight.

I can see this , Gold & Silver are so undervalued ' Buy heaps of silver bullion at today's price ' if you can get it .

Today's Cryptos will self help there own ~ annihilation eradication & extermination .
Why ?
Because there pie in the sky BS with no equity !

 

[Goldfreak]

Interesting video Jack. I don't think the crypto club would be interested though. I said something negative about it and now they think I am your brother. :lol:

 

[Davent]

https://www.fxstreet.com/analysis/what-will-basel-iii-rules-mean-for-the-gold-price-202012181719

hmmmm, think i might do some biz with Perth mint shortly.