Gold Price Discussion

[deepblue]

Remember when the reserve bank sold 167 tonnes of our gold in 1997 because they said that the gold price would remain flat for the next 25 years. How wrong could they be.

 

[richo966]

have they ever made the right call on any thing it is like they try to see who can waste the most money

 

[garnethawkins]

Remember when the reserve bank sold 167 tonnes of our gold in 1997 because they said that the gold price would remain flat for the next 25 years. How wrong could they be.

But isn't that how the liberal government brought our economy into surplus? Wasn't that a good thing? I mean isn't that why the liberals returned to power because of their ability to return to surplus?
In case your wondering yep Im being sarcastic, seems the only thing the libs are good at is selling our most valuable assets at bottom dollar blaming labor, then claiming how awesome they are at boosting the economy... Imagine how much better off our country would have been selling even HALF that quantity when it was worth top dollar

 

[Mr Sism]

I suppose, if they had waited till now to sell then it would almost pay the interest (for one year) on the debt Labor has racked up over the past six years. .....Perspective.

My perfect hindsight says I should have sold all I had back then and put it all into gold.

Gold will do be worth much more in the next decade than it is now - happy days coming but more hurt likely in the shorter term.

Drewe.

 

[richo966]

big hurt coming more people buying houses they cant afford lending rates will go up and many people will not survive the coming troubles no money left to put of the crash of any longer liberals only care for them selves they are all the same I hope palmer will prove different libs are not going to pay of debt this time they cant balance the budget how can you start paying off massive debt if you cant balance budget and they are going to sell a lot of bonds dose not look good over long term my kids will be lucky to see the debt paid what are people learning in university how to spend till there is nothing left and spend more to get out of trouble what is that garbage

 

[garnethawkins]

I suppose, if they had waited till now to sell then it would almost pay the interest (for one year) on the debt Labor has racked up over the past six years. .....Perspective.

My perfect hindsight says I should have sold all I had back then and put it all into gold.

Gold will do be worth much more in the next decade than it is now - happy days coming but more hurt likely in the shorter term.

Drewe.

See that's actually my point if we still had all the gold Howard sold back then when the market collapsed labor would never have needed to borrow any money, could have just sold some gold and still been in surplus...

 

[richo966]

they would have spent the gold and racked up debt that is what they do spend so they can rip things of and get jobs when they leave office the libs will not pay of this debt to big spending out of control so chances are labour will one day win office and this time they will have debt what happens then

 

[loamer]

Thanks for all your comments - this was about the price of gold in a very generic sense. I am politically astute enough to determine the causes. I am pragmatic enough to accept view points, but I would hate to see this developing into a political argument which is probably best served in other forums - cheers folks.

 

[Wintersnake]

Sorry Loamer for OT but

My 2cents
Work till I'm 70yrs old to get "my" superannuation. Now that's looking after the worker. Where were the unions when the elected bought that little gem to life?

Labour = lies and jobs for the boys
Liberal = lies and jobs for the boys
Greens = waste of oxygen. (irony?)
The rest don't matter.

Look after your own and vote for what's best for you regardless of what your father & Grand father did. DONT BE A SHEEP.

 

[richo966]

yes they are not worth two bob and this is all you need to know for gold price they tell lies every thing is okay gold goes down when people know what is going on gold will go back up and keep going but for the time people listen to the lies and gold will keep going down for the time being gold will drop below 1000 if it goes under 800 I will start buying gold because at that stage a lot of gold mines will shut down production or go broke and supply will slow
I hope this is not of target mate

 

[Heatho]

I may be totally wrong but gold may not be the best buy .........yet. If you had a Waybackmachine you could have in about 1995 bought US Dollars then waited for the Aussie banana republic dollar to hit 47c and then bought gold with your USD at about $300USD an oz. I love hindsight....

Loamer if gold is your main source of income or you bought high then yes I agree this is no laughing matter and it would hurt. Gold is a long term investment if you dig it up also, you still have to sell at the right time.

Just my thoughts.

 

[Diggerdude]

I agree loamer it's getting harder to make a dollar prospecting. A $500 dollar an ounce drop makes a big difference when relying on your gold finds.

( don't know why most of these posts are political or about investing even after you reiterated your point , there is a sticky gold price thread for that )

DD

 

[WalnLiz]

I agree loamer it's getting harder to make a dollar prospecting. A $500 dollar an ounce drop makes a big difference when relying on your gold finds.

( don't know why most of these posts are political or about investing even after you reiterated your point , there is a sticky gold price thread for that )

DD

Agree DD...getting way off topic...keep it on topic guys.

Wal.

 

[garnethawkins]

Yeah sorry about that guys if i had realised so off topic this would get i would never have posted my initial post :8

more on topic i read a post on here a couple of months back saying gold would eventually reach 5k, and that post was made by someone "in the biz" Im HOPING he was right because my end game for why i even started prospecting was to one day have found enough to buy a house, if the price keeps going the way it is, i might not even cover my loses

 

[richo966]

gold price is linked to America understand politics understand gold prices I told my friend when to buy gold he made 200000 thousand if I am off topic I don't understand

 

[Wintersnake]

gold price is linked to America understand politics understand gold prices I told my friend when to buy gold he made 200000 thousand if I am off topic I don't understand

Agreed.

More stable than shares and less stable than real estate is my opinion. If you study the indicators of the gold market (which I don't) I'm sure you'll do well, gold isn't a rapid mover.

 

[Jacko]

Home page changed. Can't see that anymore.

 

[Nugget]

Check out the Charts tab on the main navigation menu https://www.prospectingaustralia.com/forum/charts.php

 

[Hunting the yellow]

wow now down to 1200 an oz and still droping

http://goldprice.org/gold-price-australia.html

 

[kleinman98]

Wow it looks like it definitely pays to hourde your gold for a rainy day.